Beating The Recession

The current news about the economy has everyone thinking of ways to save a little money. While the country is not yet in desperate straits, here are a few suggestions to help get yourself through the crunch.

-- Eat at home. Going out to dinner is always a treat, but when you’re trying to save money, eating out should only be for special occasions. Cooking at home will, for a similar price, give you enough food to be eaten all week. Cooking is also a form of entertainment in itself, if there’s something you’re craving, find the recipe on the internet and spend an hour or two learning how to make you’re favorite restaurant dish.

-- Shop at thrift stores. Thrift stores like The Goodwill, The Salvation Army and Out of the Closet offer a great deal of merchandise for low prices. Before you go to a department store looking for everyday clothes, take a look at what’s in stock and you might find something wonderful at a great bargain. If you’re looking for a Halloween costume or general household goods, they’re always a terrific place to start.

-- Open up a Netflix account. Netflix isn’t the only company that will mail you DVDs for a minimal price, but they are a great example of the trend. Going out to the movies has grown steadily in price over the last few years, and many theatres don’t even offer bargain matinees anymore. Staying in to watch a movie on your laptop or television will save you a few bucks. Remember movies aren’t in theatres for that many weeks anymore, so you won’t have to wait very long to watch the newest thing, and while you’re waiting, there are always thousands of others to choose from.

-- Learn a new skill. The internet is rife with more information than ever before, if you’ve ever wanted to learn anything from playing the guitar to fixing a lock you can’t go wrong with a Google search. Once you’re learned something new, put it to use earning money with your new found talent or saving money you would otherwise have spent.

-- Volunteer. You might be wondering how becoming a volunteer will save you money, and the answer there is simple. By helping other people, you help yourself. Volunteering will open up new opportunities that you’d never thought of before. You will meet new people from all walks of life who will be friends or business contacts, and of course you will learn how to do something useful whether it’s serving in a soup kitchen or leading people through a museum, whatever you learn will serve you well later on your resume.

Saving money in an economic downturn is really about cutting out the frivolous costs that just add up in your daily life. If you’re a coffee fiend that spends $4 a day at Starbucks, consider making your coffee at home and taking it with you, or only going out for coffee once a week. If you eat out all the time, eat at home and the savings will pile up. If you’re a shopper that loves searching for that terrific find, lower your price range and hunt garage sales and thrift stores, because there will always be something great to find.

We would all like to hit upon that great idea that will lead to saving thousands of dollars each month, but the truth is that it doesn’t exist. While we wait though, with a little planning and a good budget you can save a little that can add up to a lot later. For now, consider everything you purchase, and if there is a less expensive way to get the same value, make the choice that will better fit your budget.

By: Deborah Baum

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