Money Saving Habits for Recession
Posted by
Alexis
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money saving habits,
money saving recession tips,
recession tips
Here are a few money saving recession tips to develop which can save you a whole lot during the recession:
Make your own coffee.
During recession, coffee-makers are in the high demand. Think about it. A Starbucks coffee costs anywhere between $1.50 - $5, which means if you get a coffee on your way to work each morning, you spend anywhere between $7.50 to $25 a week or anywhere between $400-$1300 a year. Too much for a morning coffee? You decide.
Learn to turn off the light when you leave a room.
Electrical bill for an average family ranges anywhere between $30 to $300 a month, depending on where you live and how large your place is. So even a 20% reduction in your electrical usage, which is easily attainable, can save an average family anywhere between $70 to $700 a year.
Stop buying bottled water.
In many cities, bottled water is not necessarily cleaner than tap water. Especially if you use filter on your tap water, there is probably no reason to spend so much money each week on bottled water. Still research about the quality of your city's tap water, before taking any action.
Reuse your grocery bags.
Reusing your grocery bags for trash not only saves you money in the long term, but it’s also environmental. An average family spends anywhere between $2 -$5 on trash bags each week (as much $250 a year!).
Consider canceling some of your services.
Go through the list of services you have and think about which is necessary.
Stop using vending machines.
Using vending machines for snack can be very costly. If you really want to have that 10 a.m. or 4 p.m. snack, consider other alternatives such as taking snacks to work.
Buy used vehicles.
Buying a new car in recession probably does not make sense, unless you are financially secure. A new car depreciates immediately after your first drive.
Forget about brands.
If you are a loyal customer to a particular brand, this may be the time to reevaluate you loyalty. If it’s not based on quality or specific features you like in that brand, recession may be a good time to try other, cheaper alternatives.
Find frugal friends.
Friends often influence many of our decisions. Try to avoid hanging out too much with your lavish friends during recession.
Source : Recession Info Center
Make your own coffee.
During recession, coffee-makers are in the high demand. Think about it. A Starbucks coffee costs anywhere between $1.50 - $5, which means if you get a coffee on your way to work each morning, you spend anywhere between $7.50 to $25 a week or anywhere between $400-$1300 a year. Too much for a morning coffee? You decide.
Learn to turn off the light when you leave a room.
Electrical bill for an average family ranges anywhere between $30 to $300 a month, depending on where you live and how large your place is. So even a 20% reduction in your electrical usage, which is easily attainable, can save an average family anywhere between $70 to $700 a year.
Stop buying bottled water.
In many cities, bottled water is not necessarily cleaner than tap water. Especially if you use filter on your tap water, there is probably no reason to spend so much money each week on bottled water. Still research about the quality of your city's tap water, before taking any action.
Reuse your grocery bags.
Reusing your grocery bags for trash not only saves you money in the long term, but it’s also environmental. An average family spends anywhere between $2 -$5 on trash bags each week (as much $250 a year!).
Consider canceling some of your services.
Go through the list of services you have and think about which is necessary.
Stop using vending machines.
Using vending machines for snack can be very costly. If you really want to have that 10 a.m. or 4 p.m. snack, consider other alternatives such as taking snacks to work.
Buy used vehicles.
Buying a new car in recession probably does not make sense, unless you are financially secure. A new car depreciates immediately after your first drive.
Forget about brands.
If you are a loyal customer to a particular brand, this may be the time to reevaluate you loyalty. If it’s not based on quality or specific features you like in that brand, recession may be a good time to try other, cheaper alternatives.
Find frugal friends.
Friends often influence many of our decisions. Try to avoid hanging out too much with your lavish friends during recession.
Source : Recession Info Center
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