The Top 20 Ways to Save Money in a Weak 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. Though no one can say for sure when this latest 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 learned to coupon-hunt on the Web. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at retailers all across the Net.

 

2. Use price-comparison websites like Pricegrabber.com, Shopping.com, Google Product Search, and mySimon.com to find the best online deals.

 

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” followed by the name of the item you’re interested in. Google will reply with a message quoting its online prices. To compare prices at stores near you, check out 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 in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is usually in the marketing ballyhoo and not the products, anyway.

 

6. Withdraw your money 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 meats. 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 them nearby since they’ve been popping up all over the place in the recent past.

 

9. Purchase discount prescription drugs at online pharmacies. You’ll often end up paying well under half as much for the generic medicines sold at these discount prescription drug stores than you would for the same brand-name pills at brick-and-mortar pharmacies.

 

10. If your car 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 value 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 costs under control. Today’s kids love to text message, 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 great resources for finding everything you need, from vintage furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power consumption of your electrical appliances.

 

15. For your next date, plan 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. Spice it up a little with a bottle of wine.

 

16. Instead of buying software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of application, the free alternatives will frequently be just as good as the paid 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 sleeping and out of the house. Prices range from $30 to $120, but you’ll cut your bill by 10% to 20%.

 

19. Consider leaving your health club. Less expensive options may include a gym at your work, in your building or community, or at a nearby parks and recreation center.

 

20. Reduce your water bill by installing low-flow showerheads and $1 toilet displacement bags.

 

 

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