The Top 22 Ways to Save Money in a Down Economy
Economic downturns aren’t ever especially fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Although none of us can say for sure when this most recent slump will reverse, there are at least sure ways of sparing your wallet 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 Web now, not as many of us seem to have gotten into the habit of coupon-hunting on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers across the Web.
2. Use price-comparison websites such as Pricegrabber.com, Shopping.com, mySimon.com, and Google Product Search to find the best deals online.
3. When you’re out at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” and then the name of the product you’re considering. Google will reply with a text quoting its online prices. To compare prices at stores in your area, use ShopLocal.com.
4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s 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 hoopla and not the product, anyway.
6. Withdraw your money from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-grown food at farmer’s markets or stores that sell local produce and meat. Prices are usually lower there because the food doesn’t have to be transported far.
8. Shop at dollar stores. You should have an easy time finding one since they’ve been popping up all over the place recently.
9. Buy discount prescription drugs at online pharmacies. You’ll often end up paying less than half as much for the generic medications available at these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.
10. If your car is seven years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance. Your deductible may be closing in on the value of your vehicle anyway, in which case a major collision would send your car to the junk yard and you to the dealership.
11. Keep cell-phone expenses under control. Kids today love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messages.
12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from vintage furniture to baby gear. By buying from locals, you can save on shipping costs too.
13. Go to matinees. The matinee showing is usually more reasonably-priced than peak-time showings.
14. Install Power Planners (see www.energycsi.com/energysmart) to lower the electricity usage of your electrical appliances.
15. For your next date, have a romantic picnic instead of going to a pricy restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself an inexpensive rendezvous. Add some color with a bottle of vino.
16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will frequently be just as good as the commercial versions.
17. If anybody in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in dozens of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re asleep and away. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.
19. Consider quitting your health club. More economical options may include a gym at your work, in your building or community, or at a nearby parks and recreation center.
20. Lower your water bill by installing low-flow showerheads and $1 toilet displacement bags.
21. When you go out to eat, choose waiter-less restaurants where you order up front and pick up your own food. You’ll avoid paying a tip, and these types of restaurants often have more reasonable prices as well.
22. Buy used books. Major online book retailers offer a “buy it used” option, where you will often find books in like-new condition at substantial markdowns.
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