Financial Information

Economic downturns are never much fun, but as Adam Smith observed 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 some of our shopping online 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 list thousands of current offers at merchants all across the Web.

 

2. Use price-comparison websites like Pricegrabber.com, Shopping.com, Google Product Search, and mySimon.com to find the best deals online.

 

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 looking at. Google will reply with a text message quoting its 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 often in the marketing hype and not the products, anyway.

 

6. Withdraw your money from surcharge-free ATMs, which can be located 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 since the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You shouldn’t have a hard time finding them since they’ve been popping up all over the place in the recent past.

 

9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying well under 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 years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be closing in on the value of your vehicle 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. Kids today love to send text messages, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messaging.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from pre-owned furniture to baby gear. By buying from locals, you can save on shipping costs too.

 

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption 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 low-cost rendezvous. Add some color with a bottle of wine.

 

16. Instead of paying for software, look for (legal) free software from websites 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 anyone in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% off in scores of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re sleeping and away. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.

 

19. Consider leaving your health club. More economical options may include a gym at your work, in your building or community, or at a nearby parks and rec. center.

 

 

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