During the last few years, most of us have been feeling the financial crunch. I know I certainly have. I have had to think of creative ways to ride out the recession. Riding out the recession wasn’t just about learning new ways to save money. It is about rethinking my spending habits and behavior. With a little creativity and smart money management, I have made minor changes that can help me survive the recent financial crisis. The following are some tricks that I used to stay afloat and that can help you during the recent recession:
#1: Make a budget and stick to it
It may be just plain common sense, but it is one of the most important ways that you can survive during the recession. It is an absolute must that you create a budget and stick to it. During the recent financial crunch, every penny counts. And, believe me. I do pick up pennies and collect spare change. Decide on a money saving goal. You need to know how much you need to save, and for how long. This will prevent you from getting burn out with saving.
#2: Reinvent yourself
In a time when there is no such thing as job security, it is important to be able to survive financially if you lose your current job. You can do this by reinventing yourself or by having a second career to fall back on in case of a lay-off. Thankfully, I have three separate careers. I am a nurse, a school teacher, and a freelance writer. I also discovered that I had a niche for photography and was able to start a photography business.
#3: Start a garden
Gardening is not only good for the environment. It is also good for your wallet. By planting your own vegetables and herbs, you can help to cut down on those grocery store bills. Fresh vegetables are delicious.
#4: Buy clothes at the end of the seasons and from discount stores
Clothes can be both a necessity and a luxury. Either way, there is a way to get them at an affordable price. The first way is to utilize discount stores or consignment shops. Gently used clothes are often just as good as store bought ones, and it is often hard to tell the difference. Another strategy is to buy clothes at the end of each season. Buy that winter coat at the beginning of spring and summer clothes at the beginning of winter. These clothes will be at rock bottom prices.
#6: Drink more water
Living healthier can also be more cost efficient during the recent recession. Stop paying for high priced drinks at restaurants. Drink water instead. Water is generally free or at a far cheaper price than those carbonated sodas. I know this can be hard. I have been struggling with the soda problem myself. However, drinking more water is will help your wallet and your body.
Cut out the bottled water. Bottled water can be expensive. If you don’t trust the tap water, then boil it. Once it is boiled, place it in those old bottles and refrigerate it. I do this myself, and the water tastes just fine.
#7: Cut those bills
Save money on electric bills by cutting off those lights when they are not in use. Unplug appliances that are not in use to stop them from soaking up energy. Wash clothes during the off times and try line drying your clothes.
Although the recession has caused a financial crunch, there are ways to ride it out. By thinking of ways to make every dollar count, you can survive the recession.