Twenty Surefire Ways to Save Money in a Down Economy
Economic downturns are never much 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 most recent slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving ideas 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 learned to coupon-hunt on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at merchants all over the Web.
2. Use price-comparison websites such as Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best deals online.
3. When you’re at a store, send a text message to 46645 (Google’s number) and enter the letter “f” followed by the name of the item 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 such as 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 usually in the marketing hype and not the products themselves, anyway.
6. Withdraw your money from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-sourced food at farmer’s markets or stores that sell local produce and meat. Prices there are often lower because the food doesn’t have to be transported very far.
8. Shop at dollar stores. You should have an easy time finding them nearby since they’ve been turning up all over the place in the recent past.
9. Purchase discount prescription drugs at online pharmacies. You’ll often end up paying considerably less than 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 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 approaching the value of your car 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. Today’s kids love to send text messages, 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 excellent 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 an inexpensive rendezvous. Add some color with a bottle of wine.
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 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 will get the holder 10% to 15% discounts in scores of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re sleeping and away. Prices range from $30 to $120, but you’ll cut your bill by 10% to 20%.
19. Consider quitting your health club. More economical options might include a gym at your work, in your building or community, or at a nearby park and rec. center.
20. Reduce your water bill by installing low-flow showerheads and $1 toilet displacement bags.
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