Cutting financial corners creatively in this down economy

With so many people out of work, facing the prospect of losing their homes, no medical insurance for many, and President Obama officially announcing that the recession is here, it’s no wonder folks need info on how to cut corners to make ends meet. Basically, do a reality check of your budget and desired lifestyle. Depending on your individual situation, some of these tips may help you evaluate what steps you can take to survive until better times return.

Actual Money

• If you have no-holds-barred cable programming with a home media DVR, you might be able to cut back your package to a slimmer, cheaper one. Or maybe cut down the number of set-top boxes you have for a while. Be sure to check with your carrier to avoid contract termination charges; you may have to wait until later in the year to use this tip.
• Stop buying Name Brand items such as designer jeans, fancy shoes, and even canned goods. Manufacturing and the food industry have come a long way in the last twenty years, and believe it or not, some people never have bought “the very best” and they are satisfied with the quality of goods they purchase and eat.
• Cancel magazine subscriptions you don’t usually read anyway.
• Cancel travel and discount clubs that have monthly dues since you can’t afford to travel this year. You can always sign up again when the economy picks up.
• An oldie-but-a-goodie returns: carpool to work and social functions and plan your errands in a circle so that you don’t waste gas criss-crossing town to accomplish them.
• Be sure your windows and doors are weather-stripped properly to avoid losing energy and to reduce your utility bills all year long.
• Reduce the amount of meals you eat away from home: take your lunch to work if you don’t already, this action will retain money in your bank account quickly.
• Turn off lights and unplug appliances that leech energy: toaster, coffeemaker, computer etc.
• Wait until the movie you want to see comes out at the Dollar Show instead of paying full-price…true, you have to avoid friends that have seen it already so they don’t spoil it for you, but you’ll save money and still enjoy the movie.
• Use your debit card more and your credit cards less. If you don’t have the money in your debit account, you can’t afford whatever it is you want to buy.
• If you smoke, try to quit. You’ll save over a $1000.00 a year depending on your brand.

Recycling

• Instead of buying expensive trash bags, use your empty dry dog food bags (20 lbs. or larger) as trash bags and use a strip of duct tape to close them for trash day.
• For smaller trash (bathroom size), use your plastic grocery bags for refuse and tie them shut.
• Instead of using lawn bags to get rid of leaves in your yard, burn them in the grill and use the ashes instead of buying mulch for your yard.

You may not get rich overnight doing these things, but every little bit helps.