how to save money during a recession
@livinglegend7 (114)
United States
January 20, 2009 5:33am CST
The best way to save money is to buy large amount of certain foods when they are on sale and use coupons as much as possible. Instead of going out to eat 5 to 10 times a month I cut it down to one time a month and I have saved a lot of money. I have also, cutback on buying clothing, sneakers and shoes and I haved saved almost $250 a month in savings.
2 people like this
7 responses
@sweetpeasmom (1325)
• United States
20 Jan 09
I am trying to save some money too. But it has been hard because my husbands checks have been messed up and now I am behind in all of our bills. I used up all of our savings to pay them last month and now am behind about 2 months. This year has not started out very good.
1 person likes this
@SydneyHazelton (4586)
• Singapore
21 Jan 09
It's hard saving money, isn't it? It's harder when you are a stay-at-home mom and don't get any regular income from work. I'm currently living off my savings, don't know how long that would last, until I will be forced to go out adn join the workforce. Here's how I try to save soem money.
At the beginning of each money. I would transfer a fixed amount of money into an account for daily use. With that money, I budget for phone bills, etc. What's left will be divided into four weeks. That's how much I would spend each week. It's tough when you don't have an income, you have to work backwards. I have to limit the amount of money I use.
Any extras I make online will be a bonus and kept for rainy days.
@busyB4 (874)
• United States
5 Feb 09
Another way to save in the US is buying angelfoodministries food.You can look them up on the net for a host site near you. It is $30. for a weeks worth of groceries. You get lots of meats in there, usually a dozen eggs, one dessert and is supposed to feed a family of four for a week. It has really helped saving trips to the store. They also have other boxes you can add to the original order that has fresh veggies and fruits. Alot of people have never heard of it, but it really is a good ministry and there are no requirements so anyone can do it!
@cher913 (25782)
• Canada
5 Mar 09
we are lucky if we go out to eat once every 6 months! i shop alot at thrift stores if we need anything or hit sales. i shop all year for christmas presents (as sales as well) and shop at a cheaper grocery store and buy my meat from a butcher as well as making a lot of stews and soups.
i was frugal before it became cool and/or a necessity!
@beaniecat (329)
• United States
21 Jan 09
I joined weight watchers at the start of the month. Even with the monthly fee, we've saved money because we don't eat out much and I am cooking more instead of buying those unhealthy convenience foods. I'll also save money by being able to get into my good work clothes again instead of having to buy new clothes.
@loveyevi (513)
• United States
20 Jan 09
To save more money, literally, to put it away in an account or wherever you keep your extra money. You should shop around for deals, when you find the best deal you can you take the difference from what you would of paid and the deal and put that money aside, into savings. Another way is, if you primarily use cash, to save all your one dollar bills. Always break a big bill when buying something and just stash those Washington's. I have started doing this and it is surprising how quickly the money adds up.
In terms of spending less money, I read that you should keep meticulous records of your spending habits. Get a journal and just right down everything you spend money on, then go through it and see how much you are spending and on what. You may be surprised how much money is going to an area of your life, that may have things you don't necessarily need. Also plan ahead. If you look in your closet and decide you are going to need to sandals this summer but them now when prices for them have not gone up yet do to demand. Hope this was informative or helpful. Take care.
@pergammano (7682)
• Canada
20 Jan 09
First of all, I have NOT waited for this economic crisis, so save money! As I have been self-reliant, self-employed for many years, one does not count on a regular paycheck! As you never know where your next job will come from! I saved & bought the two appliances that truly help me with food preservation...a dehydrator, and a "food saver!" Like you, I buy my foods in bulk, & portion & save it! I eat out, maybe once in every 6 months...and even that is unusual, (usually only if I have missed my ferry to come home, and am stuck in town)! My lifestyle (that of a countrygirl) is such that I only replace tattered clothing at a Thrift Store/Salvation Army/Consigment Store! Like most, I do NOT discard the few quality items of clothing I own, a few good suits, a few nice dresses of the basics! These can be updated, dressed up or down!
Because my work requires a 3/4 ton pickup to haul my Landscaping maintenance tools, or Tiling Tools around....I got beat up quite badly when the fuel prices here on the Island that I live on became $1.73.9 a Litre or $7.90 a Cdn gallon!
I budgeted for it...and got thru those times! Once fuel started going down, each time I filled up...I put the difference from the new price...now $3.67 a gallon and the old price aside, like I was still paying it! So, I put that $4.23 a gallon aside, each fill-up! My truck holds 50 gallons....it was NOT long before I was able to purchase an E-BIKE (an electrib-bike by Kaishan)! My Electric Bike costs me 27.7 CENTS for a full charge....and travels 100 kilometres on that charge!
Sorry this has been so long....Cheeers!