Saving $ in Today's Economy

Our economy has always had cycles of ups and downs. And although we may be experiencing somewhat of a down cycle there are still lots of ways to buy the things we need and save money at the same time.

We all have to eat, buy gas for the car and wear clothing. So start your plan by saving on these necessities. As you save keep in mind those things you really “need” and try to curb spending on those things you merely “want”. Here are some tips to help you get started.
 

Food

Eating out
The first big, and sometimes difficult savings tip is to eliminate eating out! O.K. if your family is screaming mad at you then take them out. But no more than once a month. Make dining out an occasion. Most of us eat out at least one, two, or even three times a week. If you must eat out then at least save money by using discount restaurant certificates. You can get them at restuarant.com. Check with the restaurant first to be sure they honor the certificates.

Minimize the use of convenience foods
We’ve gotten so used to convenience foods, such as pre-bagged salads and pre-prepared meals, that we forget we can make it ourselves and at a fraction of the cost!.

Plan, plan, plan
An essential part of saving money in all areas of your household budget is planning. Take a few minutes to create a menu. Then create a grocery list with just what’s needed for each meal.

Do your homework
Know what’s on sale and plan your menu around the weekly sales flyers. Sounds simple. It is! If chicken is on sale, guess what, you'll be eating at least one meal, and possibly more, that include a chicken dish on the menu.

Go Veggie
You can save by eating meatless meals at least twice a week. Here are some examples:

• Egg dishes - a nice change in routine for dinner. You'll find some great egg recipes provided by The American Egg Board at aeb.org.
• Vegetable stir fry served with rice
• Vegetable pizzas
• Pancakes are a big hit with the kids and they don't have to be just for breakfast!

Use leftovers wisely
Leftover meats and veggies can be incorporated into stews, stir frys, and casseroles. Try these 3 great meals out of leftovers, not only saving money, but save on preparation time!

• Dinner #1: Beans & rice
• Dinner #2: Add a pound of ground beef and use leftover beans to make chili.
• Dinner #3: Add a pound of macaroni noodles to leftover chili to make "chili mac."

Use Coupons
Coupons can be a wonderful way to save money. But, be careful…don’t buy products just because you have a coupon! Rather, use the coupons for foods you normally buy. You can find coupons:

• in your local newspaper.
• in home and garden, family, or cooking magazines.
• on product packaging and inside products.
• online - just type in "free printable coupons" in the search box. Be sure to check with your favorite stores to see if they accept computer generated coupons before printing from these sources.

Gas

Gas prices change frequently and may vary by as much as 20 percent within only a few blocks. One way to find the service station with the lowest priced fuel in your area is to go online to GasBuddy.com. This web site targets the lowest priced stations to help you save money when filling up at the pump!

Once you’ve found that lowest priced fuel, keep these important tips in mind to save on gas:

• Keep tires properly inflated. A single tire under inflated by 2 PSI increases fuel consumption by 1%.
• Use the A/C sparingly. Air conditioning puts an extra load on the engine forcing more fuel to be used (about 20%).
• Keep windows closed. Open windows, especially at highway speeds, increases drag and results in decreased fuel economy of up to 10%.
• Service your car regularly. Proper maintenance avoids poor fuel economy related to dirty air filters, old spark plugs or low fluid levels.
• Avoid long idles. If you anticipate being stopped for more than a minute, shut off the car. Restarting the car uses less fuel than letting it idle for this time.

And, you can actually save money and get better gas mileage just by changing your driving habits. 

• Be careful of fast starts and stops. Stopping and starting can eat up gas. Applying slow steady acceleration and braking will also save your brakes and engine.
• Avoid high speeds. Driving the speed limit will reduce gas consumption by about 15%.
• Use cruise control. By using cruise control, many cars can get between 1 and 2 miles per gallon better fuel efficiency on the freeway. This can be a big gas saver on a long trip.

Clothing

We probably all have clothing in our closets that we seldom or never wear. Try these tips to save money and end up with a wardrobe that’s really usable.

Buy separates that coordinate.
You can make numerous combinations with a few well matched items. Plus, you can change the look of these outfits with accessories like jewelry, belts or scarves. Men can coordinate by using blazers, shirts and ties that can be interchanged to create a varied wardrobe with a minimum of expense.

Stay away from trendy fashions.
Stick with the basics. Classic items will last season after season.

Buy quality.
Buying an $80 pair of shoes that will last saves money in the long run instead of buying 3 pairs of $35 shoes that don’t hold up.

Buy a season ahead.
Buy next year’s winter clothes at the end of this season and save. The styles won’t change that much, just try not to buy “trendy” items.

Turn clothes to cash.
Donate to get a tax deduction, post them online, sell to consignment shops or have a garage sale.

Look for bargains or free clothing online.
Freecycle.org is a site whose policy is that no currency exchanges hands for any listed item. Also, check out groups.yahoo.com/group/ClosetTreasures.

Use online coupons.
Ebates.com is just one of the many sites that offer free clothing coupons. Couponing.about.com is another. Some of these sites require a simple sign-up while others allow coupon print outs with no questions asked. Be sure to check with the stores to see if they accept computer generated coupons.

Go consignment shopping.
Many consignment stores sell quality used clothing. Two such consignment stores in our area are Platos Closet, platoscloset.com and Once Upon a Child, ouac.com.

Host a clothing swap.
Invite your friends and neighbors to a clothing swap. Everyone brings clothes that are in good condition. Guests go through the giveaways and pick out what they want. It's a great way to get rid of unwanted clothes while picking up some new pieces for free. Give leftover items to charity.

Go on a clothing fast.
We buy clothes on impulse more often than just about anything. Why not consider a clothing fast. Promise not to buy clothes for one month at a time. Say, “I’ll go all of June without buying a single piece of clothing.” At the end of June, ask yourself if you really need anything. If not, see if you can go all of July, too.

Every Little Bit Helps

There are a number of other little ways to rack up the savings:

• Save your change. Those coins may look insignificant, but when accumulated over time they can help you save. Make purchases with paper money, not exact change and always save the change.
• Instead of a dinner party, host a potluck supper.
• Volunteer to usher a major sporting event or theater production and see the event for free.
• Don’t buy books, magazines, CDs, or movies. Get them FREE from your public library.
• Determine if the purchase is a “need” or a “want”. Concentrate on just buying the “needs”.
• Take your lunch to work one more day a week than you do now.
• Agree with your family and friends to limit gift giving.
• Buy online when it saves you money.
• Walk or ride a bike whenever possible.
• Take vacations during off-peak times.
• Use cash whenever possible. Using credit puts you at the mercy of creditors and lenders. Paying with cash allows you to be in charge of your finances.

Getting started can be difficult, so make a plan, choose some money saving ideas and put them into action. It may be less painful than you think and what have you got to lose? Not your money! Making little changes today in the way you spend your money can really add up to some big savings tomorrow.