The Top 19 Ways to Save Money in a Bad Economy
Economic downturns are never especially fun, but as Adam Smith observed centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this latest slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:
1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Internet now, not as many of us seem to have gotten into the habit of coupon-hunting on the Web. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at merchants across the Net.
2. Use price-comparison sites like Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best online deals.
3. When you’re out at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” and then the name of the product you’re considering. Google will reply with a text message quoting the online prices. To compare prices at stores near you, use ShopLocal.com.
4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s Club and buying things in bulk. This can be especially helpful if you have a sizeable family.
5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing hype and not the products, anyway.
6. Withdraw your green from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-raised food at farmer’s markets or stores that sell local produce and meat. Prices there are usually lower because the food doesn’t have to be transported very far.
8. Shop at dollar stores. You shouldn’t have a difficult time finding one nearby since they’ve been turning up all over the place in the recent past.
9. Buy discount prescription drugs at online pharmacies. You’ll often end up paying well under half as much for the generic pills stocked by these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.
10. If your vehicle is seven or more years old and/or worth $2,500 or less, consider dropping comprehensive and collision from your insurance. Your deductible may be nearing the worth of your car anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.
11. Keep cell-phone expenses under control. Today’s kids love to send text messages, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messaging.
12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from pre-owned furniture to baby gear. By buying from locals, you can save on shipping costs too.
13. Go to matinees. The matinee showing is often more reasonably-priced than peak-time showings.
14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power usage of your electrical appliances.
15. For your next date, plan a romantic picnic instead of going to a pricey restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Add some color with a bottle of vino.
16. Instead of spending money on software, look for (legal) free software from sites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the commercial versions.
17. If anybody in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and will get the holder 10% to 15% off in scores of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re asleep and out of the house. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.
19. Consider leaving your health club. More economical options may include a gym at your work, in your building or community, or at a nearby parks and rec. center.
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