Twenty-Three Ways to Save Money in a Bad Economy
Economic downturns are never 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 some of our shopping on the Web 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 offer thousands of current offers at merchants all over the Net.
2. Use price-comparison websites like Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best online deals.
3. When you’re at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” followed by the name of the product you’re considering. Google will reply with a text 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 things in bulk. This can be especially helpful if you have a large family.
5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing ballyhoo and not the product, anyway.
6. Withdraw your green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-grown food at farmer’s markets or stores that sell local produce. Prices are often 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 in the recent past.
9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying under half as much for the generic pills available at 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 approaching the value of your vehicle 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 unexpectedly 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 locals, you can save on shipping costs as well.
13. Go to matinees. Matinee showings are usually more reasonably-priced than peak-time showings.
14. Install Power Planners (see www.energycsi.com/energysmart) to lower the electricity consumption of your electrical appliances.
15. For your next date, have a romantic picnic instead of going to a high-end restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some zest with a bottle of vino.
16. Instead of paying for software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of program, 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 dozens of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re sleeping and out of the house. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.
19. Consider leaving your health club. Less expensive options might include a gym at your work, in your building or community, or at a nearby parks and rec. center.
20. Reduce your water bill by installing low-flow showerheads and $1 toilet displacement bags.
21. When you eat out, 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 pre-owned books. Major online book sellers offer a “buy it used” option, where you can often find books in like-new condition at substantial markdowns.
23. Have a friend or family member cut your hair. This works best for men and boys who like to keep their hair short and simple, because someone with no experience can do as good a job as a barber using a set of clippers. Professional clippers are sold in department stores for less than the cost of some high-end haircuts.
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