How to Save Money During a Recession

The key to financially surviving a recession is to cut back living expenses. This article shares some helpful tips that everyone can follow, beginning today.

Difficulty: Moderate

Instructions

1. Analyze your expenses. Be honest. How much do you spend on credit card payments? Car payments? Mortgage or rent? Utilities? Groceries, eating out and entertainment?

2. Cut back on your cable package. This could save you at least $50 a month. Decrease your phone package. Have family and friends call you to help you save your minutes.

3. Plan your meals. This will save money on groceries and decrease the costs of eating out. Incorporate coupons and sales for an even greater savings! Pack your lunch and take beverages from home on the road.

4. Ask your friends and family how they have cut back to help save during this economic slowdown. If we all share our ideas with each other, it will make this time that much easier on all of us.

Resources

• How to Save $500 per Month
• How to be Aware of Increases in Credit Card Rates
• How to Make a Credit Card Balance Transfer

[voliegurl]

on 8/17/2009 I had to cut back on eating out and your tips may save me more...thanks and 5* with recommendation!

[ynohtna]

on 7/19/2009 Thanx for the tips 5*

[kristara]

on 5/8/2009 Great ideas we can all use money saving tips in this recession. 5*

[kp3028]

on 5/6/2009 Saving money never is out of style.

[etmarciniec]

on 5/6/2009 Yes I'm doing the same. Eating in, packing luches, minimizing trips out (while working at home), carpooling, etc.