Money Tight? Trim the Fat!
Friday, February 20th, 2009 Subscribe To Our Feed
Do you think you might be laid off? Is your company cutting back on raises and benefits? Are you unemployed? These trying economic times may cause difficulties, but they also represent a tremendous opportunity for each of us to examine our role in the economy and to examine our personal consumption habits. If we all resolve to improve the quality of our spending, even though we may be limited in how much we spend, our world will come out of the current recession much healthier than it was before.
Of course, if your income has been reduced, the first thing you need to do is carefully consider every purchase you make. Here are some no-brainer suggestions for ways to cut your expenses. You may think these things are too trivial to bother with, but over the course of a year or two, the savings will really add up:
- When you reach for the last book of checks in your drawer and see that “reorder now” sheet, instead of calling your bank, go online to buy new checks. You can save a bundle over the high markups your bank imposes.
- Check your newspaper subscription rates. If it is cheaper to just get the Sunday paper, change your subscription. Think of the time and trees you will save by only reading the paper one day a week. Look for the grocery ads in your Sunday paper and clip the money saving coupons. The savings will pay for the paper many times over and will significantly cut your food bill.
- Walk or ride your bicycle to run errands and do shopping close to home. Use high quality reusable tote bags so you can carry your stuff home. If you avoid driving just one mile per day, you will save anywhere from $25 to $75 per year on gasoline, depending on your car’s efficiency and the price of gasoline.
- Turn your thermostat down in the winter and up in the summer. Look for inexpensive ways to improve the energy efficiency of your house. Start by covering windows at night in winter and caulking around window frames and doors.
- Buy inexpensive grocery ingredients and cook from scratch. Not eating out can save you a ton of money. But, don’t be a hermit. Spend some money to support your local businesses, like taking your significant other out on his or her birthday!
- Need new clothes? Kids often outgrow clothing before it wears out, so check your local thrift store for great deals on almost new clothing. You can find like new items at amazing prices.
These are just a few simple suggestions. Remember to have fun while you are saving money. Be creative when you buy checks. Don’t get the same boring design you have had forever. Get frog design checks or something exciting like endangered species checks instead. Make foods you have never tried before, like a green salad with arugula and spinach, or grilled bison burgers. Buy a designer dress that you could never afford brand new for just a few dollars at your local thrift store. See Life as a grand adventure!
