The Top 19 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. Though none of us can say for sure when this most recent slump will reverse, there are at least sure ways of stretching your cash 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 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 offer thousands of current offers at merchants all over the Net.
2. Use price-comparison websites like Shopping.com, Pricegrabber.com, Google Product Search, and mySimon.com to find the best online deals.
3. When you’re out at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” and then the name of the item you’re considering. Google will reply with a text message quoting the online prices. To compare prices at stores near you, go to 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 large 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 green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-raised food at farmer’s markets or stores that sell local produce. Prices there are often lower because the food doesn’t have to be transported far.
8. Shop at dollar stores. You shouldn’t have a hard time finding one since they’ve been turning up all over the place in the recent past.
9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying considerably less than half as much for the generic pills 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 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. 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. Matinee showings are usually more reasonably-priced than peak-time showings.
14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power usage of your electrical appliances.
15. For your next date, plan a romantic picnic instead of going to a pricey restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Add some color with a bottle of wine.
16. Instead of spending money on software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the commercial versions.
17. If someone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and it 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 save energy when you’re asleep and away from 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 park and rec. center.
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