How To Save Money in America's Economy—Find Bargains, Make Changes in Your Life, Save Money
Posted: Sunday, January 24, 2010
by Steve Kovacs
The Kovacs Perspective
The American economy is still harsh and people are trying to the make the best with what they have. Here are some simple tips that can make things easier for those who are trying to do just that.
- Stop using credit cards: Pay for everything with cash or money orders. Don't even use checks. It is easier to overspend when you're pulling from a bank or credit account. Cash is real; it is right there in your pocket and keeps you realistic.
- No cable or satellite TV: Some people can save well over 100 dollars a month by stopping these services.
- Quit smoking: If you smoke, now is a great time to quit and save big. Being an ex-smoker I know motivation is a key to quitting and at over five dollars a pack, motivation is easy and savings substantial.
- Limit a lcohol consumption: If you drink, try to limit your consumption to home. Alcohol markups can be high, pardon the pun. You will save substantially by partaking at home rather than at a bar, nightclub or restaurant.
- Bring your lunch to work: Many workers spend between $8-15 per lunch. Taking a little extra time to make your lunch at home can help you save a nice amount.
- Consolidate driving trips: Make conscious efforts to combine the driving that you must do with other trips on your agenda. With a little planning and juggling, you can realize substantial fuel savings.
- Buy the Sunday paper for coupons: Coupons can save you a bundle. I never utilized coupons and I suppose many men have not. Most women, at least the ones I know, have been saving money most of their lives with coupons. Now is the time for all macho men to get on board with coupons.
- Buy items online: You can save big by researching prices online and buying from a merchant who is willing to take less of a profit than a local store. On my last larger purchase, I paid $169.00 (shipping included) for an item that everyone else was buying for $229.00. It took me about 30 minutes of online research-no gas, no lines and a fantastic price.
- Use cell phones-skip the landline: Many people have stopped using regular (landline telephones) me included-saving a nice amount monthly.
- Buy in bulk at wholesale stores such as Costco, Sam's Club, and BJ's: You can share bulk purchases with family or friends and you can both save big. A key to buying in bulk is to make sure the unit price is substantially less than when buying a single item.
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Top-level comments on this article: (6 total)Some financial planners suggest recording every purchase you make over a period of time so it shows you where your money is going. I don't think most people realize how much coffees and lunches out add up, and would be surprised at the amount of money they could save by cutting them out. All good tips Steve. I really need to take a look at my phone bills! We pay for a landline and a couple of cell phones we rarely use. Crazy.Recording everything would probably work well...maybe too well for some. Lunches and coffees really can add up as I have noticed personally--but life's short, if you can afford it I guess, do it!! Thank you for writing.
As a poor singer and writer I know what it's like to not have money. I have my own formula for saving money: rich friends, a helpful family, $2 cans of Maxwell House coffee instead of the $7 cans of Dunkin Donut's, reading a 50 cent newspaper instead of renting out a $5 video, cheap dates, a scary look on my face at night which saves money on not getting robbed, being on a diet which helps me to lose fat and save dollars, spending 75cents on a candy bar to get high rather than $75 on pills, fish for pets, learning how to make minor house repairs myself without causing further damage, listening to music on Utube rather than buying $30 ipods, food stamps, the dollar store, free health care, a walk on the beach instead of at a mall, exercising at home rather than at Bally's, not getting in trouble with the law, clothes shopping at Walmart rather than at Sergio's Fashion Boutique, staying away from people who always want to borrow something, using the library (they have a lot of free programs), playing only a couple dollars a week on the million dollar lottery instead of a couple hundred dollars to win $20, driving a $2000 scooter which I fill up for only $2 instead of a $20,000 car which takes $20 just to half-way fill, partying at a free club instead of one that costs $30 to enter, and I don't give homeless people money because they only spend it on Musketelle (I give them cans of Cambells soup instead) I hope this helps some people.Mike--you got it all down to a science....
All great advice, and it always seems to be easier to save money once it's laid out so well. When I stopped smoking I saved a bundle, and it's a lot easier to cut back on things we really don't need than people realize. All it takes is incentive and motivation. This is a great read.I agree Mike, motivation can open eyes to the possibilities. Thanks for stopping by.
Steve,Your advice is solid and your ideas similar to those of the "old-fashioned" housewife. Practices she employed out of common sense and frugality. Today, we spend too much and waste even more. Very valuable suggestions from you and the response from Boca Raton quite eye-opening -- especially looking crazy so that thieves leave him alone.Good work and thanks,Yes--common sense and frugality--something many in this country have lost in the last 10-20 years. We're getting it back though. And yes, Mike from Florida seems to be a professional when it comes to this stuff! Thanks for reading and writing.
Great ideas. Mick figures he saves about $200 a week with me fixing him lunches (he doesn't have to punch out when he eats while he drives from job site to job site and the food is nutritious and cheap compared to junk food...) Thanks for giving us items to work on here! We don't have TV, quit getting the paper and go online etc. Marijo200 bucks from lunches--amazing! Sounds like you have a handle on saving. The concern I have is that when people cut back (including me) that companies suffer and the economy suffers and in turn we have another issue.Ooops I misspoke - $100 to $120 a WEEK and that counts the 1/2 hour he'd have to take off the clock! Sorry, not sure if it was a typo or very late! MarijoStill adds up though--that totals up to a good sized car payment just by making your own lunch! I mess up when I post stuff late too.YAWN! Actually it is specially bad right now because my doc lowered my thyroid dosage - I can sleep again now and the B/P is behaving but "I tired"
Great article and lots of money saving tips that work. I even go online to find coupons the day I am going shopping. I use a list to shop from and plan meals a week or more ahead of time. Thanks for sharing. Linda DI never knew you could get coupons online--great point to bring up here--thanks for writing Linda.Steve
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