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How To Save Money in Recession

Feb 15th, 2009 by Emike
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With the poor economy, now is the time to save money. This article can give some insight on how to save up.

  1. Spend less time to dine or eat out. The cost for buying fast food is more than 5 dollars. Instead of buying McDonalds, coffee at Starbucks, and junk food try packing your lunch or home cooking. Doing that will make a huge difference. 
  2. Don't use credit cards to make frequent and unnecessary purchases, it will add more debt and burden. Try using some cash and keep the loose change. 
  3. Try buying generic brands when you're going to grocery. Try to get into the habit in clipping coupons and find out if your favourite item is on sale. 
  4. Have a "need" or "want" mentality when you're shopping merchandise. Buy that items that you need. 
  5. Go to your local library for books or movies. The cost of books in libraries are free. The cost to rent movies in Blockbusters cost more than 4 dollars. Buying books in chains such as Barnes & Nobles and Borders cost around 7-15 dollars. Libraries charge about 1.50-2.00 dollars to rent their movies for at least week. The library could let you borrow videos that are foreign, classics, special interests, musical performances, and television shows free of charge for seven days or more if you choose to renew it. 
  6. Don't buy anything from vending machines or convenient stores. The items that are unhealthy are usually overpriced. Fruits and vegetable are least expensive in the grocery store. You can buy a banana for under 1 dollar. 
  7. Don't make a habit of going to the movie theaters. It is best to go once a year if there's a movie that is really worth watching. Try other alternative, go to sites like youtube or hulu to see if there playing your favourite film. 
  8. It was mentioned above, to save money on cable or the internet go to hulu and see if they are playing your favourite shows. You can use the internet at the library.
  9. Pay yourself every month. You can put at least 10 percent of your income into a high yield savings account. You can use it as an emergency fund.
Here's my article on ehow: http://www.ehow.com/how_4492641_save-money.html
Emike

Written by Emike

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informationguru, over a year ago
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Excellent tips. If you get a chance check this article out, http://www.bukisa.com/articles/345212_4-easy-ways-to-save-money-and-drastically-reduce-your-power-bill

informationguru, over a year ago
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Great article and well written, everyone could save some money these days. 5 star.

gloryvine, over a year ago
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I agree with you 100 percent. this is no time to waste money eating out. It’s less expensive and healthier to prepare your meals at home.    I added you as friend.

DebraMann, over a year ago
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Some great and very helpful tips!

lasttime85, over a year ago
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Library has saved me lots of money….though I can’t exactly add them to my collection unless I have no intentions of going back to that library haha..

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