How to Save Money in this Bad Economy

Struggling in the bad economy? Here are some tips on how to save money as we all tighten our budgets.

Difficulty: Moderate

Instructions

1. 
    
   Coupons

   Coupons. I have a friend who uses coupons, double coupons, and triple coupons. She manages to save a bundle every time she goes to the store, and she uses the money to get her kids "extra" foods that they wouldn't normally get. Looking for the coupons takes time, but you can always start small - like the local Sunday Paper. Then start looking at other store coupons, and online coupons. Just make sure to use your coupons before they expire.

2. 
    
   Buy in Bulk

   Buy in bulk. One of the best ways to save money is to buy more of an item at one time. Out of toilet paper? Buy a huge pack instead of a small one. It saves you time from having to keep going to the store, and buying in bulk always saves extra pennies. Make sure that you are actually buying things you use all the time though. Do not buy in bulk if you only use an item say, once a year.

3. 
    
   Brown Bag lunches

   Make a budget and stick to it. Only spend what you have in cash, do not use your credit cards. Cut your credit cards up, or use them for emergencies only. (Car repairs, home repairs). Look at your budget and see where your extra spending takes place. Do you always buy coffee in the morning? Splurge on a good coffee maker, and then save money by buying coffee at home. Do you spend money at lunch during the day? Have the entire family brown bag it.

4. 
    
   Shopping for Clothes

   Shop sales for clothing. Have children? Children do not need name brand clothes, no matter how much they insist they do. They grow monthly, and even weekly, and are quick to outgrow expensive name brands. If you must have name brands only buy items when things are on sale. Also, only buy what is necessary. Most people do not need a new outfit every week, no matter how much your mind screams "I must have the latest and the best in fashion."

5. 
    

   When you run errands, make sure you group them together. Have three errands in one part of town? Do them all at once instead of one at a time. Is there a way to incorporate an errand into an existing ride? Do so. Can you walk to the post office, store or library? Walking or riding a bike instead will increase your exercise and save money on gas at the same time.
   
   These tips will help you save on gas for your car, which will save you money in the long run.

6. Hopefully these tips will help you to start saving money in this bad economy. Keep pinching pennies, and remember, that eventually the economy will turn into an upwards swing again - even if it doesn't seem to be the case anytime soon.

Resources

• Saving money
• Money Saving Tips

[LilacGirl]

on 10/20/2008 Great suggestions for saving money, very hekpful. I agree with Alisane, these tips are good for anytime.

[Alisiane]

on 10/15/2008 The cool thing is that these are tips which are good both inside and outside of a recession. We'd all be a lot better of if we learned how to stop being so wasteful - even when money is plentiful.