During this current economic downturn, people are rediscovering how to save money during hard times. In this article, we document thirteen of the most useful tips for helping you and your family save money and reduce your overall expenses.
While it is true that there are two ways to regain control of your personal finances (1. Cut costs; and 2. Increase income), the saving money part is far easier for most people to accomplish. If in fact you are seeking out new sources of income to supplement your current income, you should review this article (http://tinyurl.com/lnm282) that shows you where you can find telecommuting jobs online.
If you are looking for a job, then find a job. But if you are looking to discover old and new ways to save money, then read the thirteen money saving tips shown here:
1. Do you find yourself reading more news online and only reading the paper for comics or coupons? Then bookmark both a comics website and printable coupons site (like coupons.com) and cancel the newspaper. Save paper and money on delivery.
2. Don’t buy it unless you know that you will use it for certain. The “this might be handy” purchases can drain money and closet space, when you find that the maybe situations don’t come up.
3. Some utility companies give the option of installing a power meter that shows you energy consumption for the entire house at any given moment. This constant awareness of the consumption rate can lead home owners to cut back, where a monthly bill might not be enough motivation.
4. Get rid of the garbage disposal. It encourages you to get rid of waste by dumping it down the sink. If you have to put it in the trash, you have a stronger visual signal of how much food was wasted, and thus a better reason to either eat the food or not fix as much. This also saves water, since garbage disposals require water to work appropriately. It is best to compost, but even putting it in the trash is better than putting it down the sink and wasting both food and water at the same time.
5. You’re thinking of planting a garden. Although ease of growing and food preferences are factors, don’t forget to pick plants or plant varieties that require little water, fertilizer, and pesticides.
6. Take your shoes off inside the house. It reduces wear and tear on shoes, which are more expensive than socks, and reduces the scuff marks you have to clean up.
7. Like an exercise program? Ask about becoming an assistant instructor or motivator. It would most likely be free to do, but even if the venue wants to charge you money to be an assistant, you can likely get the classes at a reduced cost.
8. Only get magnetic bumper stickers. There’s no clean up necessary when you change your mind, you can put it on your fridge or work cubicle at a whim, and can be removed in locations where such sentiments can get your car keyed.
9. Gambling never makes money, so do not go into a casino unless you work there.
10. If you indulge in “retail therapy”, shopping for a pick me up, look for a job as a mystery shopper. And then do not go into the store unless paid to do so. At the very least, only shop when someone else is paying for the merchandise.
11. If you are in debt, don’t touch the alcohol – unless you’re serving it to someone else. This is a vice that is doubly crucial to contain, since we often do stupid things under the influence of alcohol. From drunk driving (and expensive tickets) to purchases and conversations we would not make when sober (both physically and emotionally costly). When the financial stress begins to mount, step away from the alcohol. This will certainly save your budget, and possibly far, far more.
12. Do not drink the coffee unless it is fueling your night shift job, and thus is a justifiable business expense. Even in this case, skip the Starbucks latte for Dunkin Donuts or McDonald’s coffee. Better yet, make your own coffee and brown bag it in a thermos to work to save even more money. And having your own coffee at hand can reduce the temptation to buy a snack while already in line to buy the coffee.
13. True emergencies are defined by something physical being broken: your bones, your car, your roof. We often think of an emotional disaster as an emergency, and then spend part of our emergency fund to make it better. Don’t break into your financial piggy bank when something physical isn’t broken. Broken hearts because you won’t go on a cruise with someone or mall trip for the weekend do not count. Breaking the mold and expectations – like not sending the kids on a summer camp when you are worried about paying the credit card bill – are completely acceptable. Redefine your emergencies for which you touch your emergency fund.
While it may seem like all is lost right now in your time of need, it is important to always keep a positive mental attitude. Stress kills, and besides, it is easier to uncover the good times that await you if you are in a good mood now and into the future.
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Fred Vanhoosen writes about money issues. While he recommends that one should be careful about using payday loans in times of dire need, he also knows that sometimes we need fast access to fast money to cover an unexpected expense. When that happens, Fred recommends http://www.fastcash4all.net/ for your cash advance needs.
Read more articles written by Fred Vanhoosen
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