How to Save Money in This Economy
If you want to save money in this economy, you CAN, and with only a few sacrifices. Yes, it takes cutting expenses and seeing where too much money is being spent, but you can save major cash without too much pain if you follow these steps.
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Instructions
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Save money by lowering utility costs each month. This economy requires cutbacks, and the first place to reduce spending is on utilities. Of course, you need cable, but give up the pay channels like HBO, Showtime, etc. You can always rent the DVDs later of your favorite shows. You absolutely need phone service, but most phone companies have an inexpensive plan where you pay one low price and then can make unlimited calls, even long distance. In addition, it's worth your while to see if you can bundle services. Bundling means you let one company cover telephone, TV, and Internet, saving big bucks along the way. Some people even get rid of their land-line phones all together and only use cell phones. That can save money in a big way, and it's quite possible nowadays depending on your plan. Obviously limiting use of air conditioning can save you a ton, but did you know that just turning the thermostat up a few degrees can also greatly reduce your bill? Change it from 70 to 74 and you won't believe the savings. Also, get rid of all old appliances, including that old fridge in the garage. In this economy, you don't need to be spending the money to run that thing day and night. It's not worth it, and Edison is giving $50 to anyone who turns over an old refrigerator. They'll even pick it up and dispose of it for free! That's the way to see money flowing back into your hot little hands.
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The US economy is pathetic right now, so get rid of nonessentials. Give up your gym membership and work out from home. Sounds impossible, but that's a big chunk of change every month. Do workouts at home, like Jillian Michaels' 30 Day Shred video. Your body will be noticeably different in about 2 weeks compared to many months at the gym - go figure. So save the monthly gym fee AND get a better bod (see resources below.) Forego the daily Starbucks (or Jamba Juice or even McDonald's stop), cancel the newspaper you never read (switch to Sunday only for the coupons), and (gasp) give up Blockbuster / Netflix. You probably let one video sit around your house for weeks anyway, and you can save bank! Saving money isn't all that difficult, and most of the time, you won't even feel it.
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You must begin cutting coupons and using them consistently in this economy. It will truly save you money. If you do it right, you can expect to cut a $300 grocery bill in half. Yes, it's a total pain and takes about two hours a week to do it right, but isn't it worth saving that kind of money?
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Invite friends to your home instead of heading out to the local eatery and save, save, save. Look at it this way, no babysitter and no hefty bar bill! Isn't it really about friends, family, and good conversation anyway? Your friends will probably be grateful since they're suffering through this economy, too. They will probably reciprocate, saving you even more money in the long run.
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Consider laying off your housekeeper or lawn service, or at least reducing their visits (biweekly instead of weekly). It's more work for you, but these luxuries are sucking your bank account dry and when you need to save money, this is where you do it. You try to convince yourself that purchasing your own gardening equipment is too costly, but that expense will be made back in less than one month! Plus, the extra exercise will double as another work-out, win-win!
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Combine these tips to really up the savings. In fact, if you follow most of these ideas, your savings could be upwards of $500 a month, or $6000 a year! Saving money this way might hurt a little, but in this economy, it's necessary.
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Tips & Warnings
If you put water in a kiddie pool for the little ones, use it to water your grass that day.
If you have to have your daily coffee, consider investing in a Keurig coffee maker - makes one cup at a time in 30 seconds with no clean up. Simple!
Buy steak and wine in bulk, so it's ready and waiting for entertaining.
