With home prices falling, mortgage defaults rising and unemployment at an all-time high, this worrisome economy is forcing many consumers to tighten their belts yet another notch. Here are a few “small” ways you can cut corners in this troublesome time.
Entertainment – We need to be creative in how we entertain ourselves. Whether it’s eating out or going to a movie, it’s time to scale back.
Why not have a movie night at home? Get out the microwave popcorn and that movie you’ve been dying to watch, but were too busy to look at.
Check out your local paper or entertainment magazine: Find out what free events are going on in your neighborhood. You’ll be surprised at how at how many free things there are to do when you take the time to look for them.
Attend gallery openings: Museums in 15 major U.S. cities – including New York, Raleigh, Philadelphia, Honolulu and Las Vegas – participate in “First Friday,” a public event that occurs on the first Friday of every month. Anyone interested can participate in these free gallery-hopping “art walks” where a majority of the exhibits in town will open their doors to anyone who wishes to see works in progress. Along with the good art, you often come in contact with free wine and hor d’ oeuvres! You can’t beat that!
Hobbies: Use your skills to make gifts, home décor items and jewelry for a fraction of what you’d pay in stores.
Reading: Become a bookworm on a budget. Start a book club; swap books with your friends, co-workers and neighbors.
Groceries – There are a number of ways to save on food and groceries.
Start by packing your lunch for work: I do this everyday. Not only will you save money; it’s a lot healthier.
Skip the coffee run: Start making your own coffee at home or take advantage of the free coffee at work.
Coupons: They can be a hassle but take advantage of them! Clip and store them in an envelope, and keep them in your bag.
Buy in bulk: Consider buying the things that you purchase every week in bulk. It is much cheaper to buy cleaning supplies and paper products in bulk.
Buy generic products: Most of the time, the only difference is the packaging.
Holidays – With the holidays approaching, you don’t need to shell out big bucks to show someone you love them. Get creative!!!
Make a Gift List: Create a list of all the people you plan to shop for and set a spending limit for each person.
Start Early: Start shopping for gifts as soon as you can afford to do so, and you’ll have more time to bargain shop and feel less pressure to buy at any price.
Skip the pricey wrapping: Gift bags are a bit pricey and they only get used once. Why not save all the bags that you receive and re-use them?
Donate your time: Try doing simple things like babysitting for a new mom or making a meal for a girlfriend that is too busy to do it for herself. Your time and help are more valuable than anything that comes gift-wrapped.
Energy/Heating — There are numerous ways to cut your energy costs, and many of them involve small changes that don’t require spending a lot of cash.
Here are some tips for quick savings:
- Lower your thermostat
- Replace furnace filters every three months
- Install water-saving shower heads
- Use compact fluorescent light bulbs
- Fix leaky hot water faucets
- Don’t let the hot water run while shaving, etc
We need to take small, but positive steps towards a better, greener and healthier way of living and help protect the changing environment.
