The times are oh-so-bad and recession or depression or a slowdown (whatever you may call it) is upon us. Well, this world is all about survival of the money savers and so, save we must – here are 30 practical ways of cutting expenses and saving big:
1. Cut back on energy costs whenever possible. Hang clothes instead of using your dryer whenever possible (outdoors in nice weather and inside on racks during bad weather). Use energy saving CFL lights. Get in the habit of turning off lights and appliances when you leave a room.
2. Skip the movies and rent or borrow dvds. You will also save money by making your own popcorn.
3. Want to spend some time with friends? Instead of going out have a fun night of coffee, cards and good conversation.
4. Take your lunch to work more often. Your savings will really add up!
5. Use public transportation or a carpool.
6. Buy generic drugs instead of branded ones.
7. Do you see a good sale for a product you use anyway? Stock up whenever possible! If you have coupons for the sale item you can save even more.
8. Try to limit long distance calls to nights and weekends unless you have an unlimited calling plan.
9. At the end of the day get into the habit of putting all your spare change in a jar. Once it is full roll it and put it in a savings account. Some banks will even count it for you for free.
10. Buy clothing off season and never pay full price. Often what you find at one store full price will offer something similar on sale.
11. Can anyone really afford cigarettes anymore? For the sake of your budget and your health now is a good time to quit.
12. Doing little things like not running the water while brushing your teeth will save a lot of water.
13. Save the cost of a gym membership and work out at home.
14. Keep up on maintenance to extend the life of you car.
15. Shop in discount stores – even Warren Buffet does that!
16. Get out from underneath credit card debt by making more than the minimum payment each month.
17. Keep your pantry stocked with ingredients for quick meals that your family enjoys. This will keep you from ordering a pizza on those evenings that you just don't know what to make.
18. Always bargain at shops and look at a few options before making a purchase. If you're buying fancy stuff like jewelry, buy it from a pawn shop.
19. In the market for a new home? Find a home under the price the your bank has pre-approved you for. With more affordable payments you may even be able to pay a little extra on your mortgage each month.
20. Check out Freecycle.org for getting free stuff or getting rid of things that you don't use. Many communities have their own chapter.
21. Stick with the cheapest cable plan you can get. Check your local library to borrow video tapes and dvds for free.
22. Do your own manicures and pedicures. Color your hair at home.
23. Open a savings account that you use just for emergencies. If possible have just $5.00 per week taking right out of your paycheck and work your way up. This will come in handy the next time you have an emergency car repair.
24. When shopping for your work wardrobe try to avoid anything that is "dry clean only".
25. Shop around for cheaper car insurance, homeowners, etc.
26. Cut back on soft drinks. Water is a much healthier alternative.
27. Reduce clutter and earn some extra money with a garage sale.
28. Always pay your bills on time. Late fees can really eat up your budget.
29. Consider planting a garden. Produce such as zucchini can be shredded and frozen for future recipes. Find information at your local library online on how to get started.
30. Know when to splurge. Cut back on the trivial things that eat up your paycheck and you can splurge occasionally on something fun.
Whether you try just a few of these tips or all of them, these tips can really help you stretch your budget.
