News
Live on less and reduce your stress
Lisa M. Petsche
If your household is facing money problems due to investment losses, a job layoff or medical expenses, or if you are trying to dig yourself out of debt, there are many ways to reduce your daily living expenses. The following ideas will give you a good start.
Transportation
Give up one of your vehicles. Combine errands to reduce the frequency of outings, car pool, walk and cycle more, and use public transportation.
Food
Cook from scratch whenever possible. Keep on hand a collection of recipes for quick and easy meals, along with the necessary ingredients, for times when you're rushed. Preparing and freezing ahead a meal or two‑‑or cooking double portions and freezing half‑‑is another way to prevent the need for expensive convenience or takeout foods when you're tired or on the run.
At the beginning of each week, go through the many flyers that arrive on your doorstep and pick out the best buys. Plan your outings to cover several stores in one trip.
Stock up on sale items: perishable foods you’re able to freeze and non‑perishable foods, as well as toiletries, paper products and cleaning supplies.
Engaging in simple activities such as fishing can be a great way to spend little money and spend time together as a family.
Clip and collect coupons, keeping them organized and regularly checking expiry dates. Bring them with you whenever you go shopping.
Buy in bulk‑‑economy sizes, club packs, and so on—whenever feasible. Just be sure to calculate first whether it really is a good deal.
Plan the coming week’s meals around grocery store specials.
Limit dining out and ordering takeout food to an occasional treat. Watch for special offers, advertised in flyers or on signs in front of restaurants. Save coupons that come in the mail, and use them whenever possible. Keep track of which places offer a discount on pickup orders and/or cash payments.
Pack lunches for school and work.
Clothing
Make it a challenge to buy second‑hand clothing and accessories as much as possible.
If buying new, never pay full price; wait and watch for a sale.
Choose timeless, season‑spanning pieces that can be mixed and matched. Avoid trendy colors, styles and fabrics, and brand names where you’re paying a premium for the logo.
Entertainment
Regularly visit your local public library, where you can borrow not only books, but also magazines, books on audiotape, CDs and videotapes. You can also access the Internet using one of their computers. In addition, the library offers many free programs and activities—pick up a take‑home calendar of upcoming events.
Brainstorm other ways to have fun without spending money. These include hiking, bicycling, canoeing (if you already own a canoe or can borrow one), taking walks around town, and visiting area parks and playgrounds (some operate free wading pools or water play areas in the summer).
Read your community newspaper to keep informed of free events in your area‑‑festivals, concerts, parades, nature walks, educational presentations, grand openings and other special celebrations.
Purchase a family pass to your local recreation center, public swimming pool or skating rink, or to your state’s parks.
Rent videotapes instead of going to the movies. If you wait until they're no longer new releases, you can keep them for a week instead of just a day or two, allowing you the opportunity to share them with someone else and split the cost.
Cancel your cable television service, or at least cut back to the basic channel package.
General Tips
Whenever you decide to purchase something, try obtaining it secondhand first. Become familiar with local thrift stores and consignment shops and visit them regularly. If there’s something specific you’re looking for, you may have to check back several times before finding it, but persistence usually pays off. Yard sales and rummage sales organized by churches or other community groups are another great source of bargains‑‑watch for them in your local newspaper's classified advertising section.
If you must resort to buying new, check out discount stores, bargain warehouses, factory outlets and liquidation centers first. Otherwise, watch for a sale.
With items you need only occasionally—like certain power tools—consider sharing them with someone else and splitting the cost.
If you need something only once, or very infrequently, rent instead of buying it. (Bonus: you won’t have to be concerned with storage or maintenance.)
Put away those credit cards, saving them for emergencies. Otherwise, wait until you've saved enough money to pay cash.
Track where all your money currently goes‑‑every last dollar and cent; you might be surprised. Even seemingly little things, like a daily cup of takeout coffee or weekly lottery tickets, add up over the course of a month.
Be honest with yourself in distinguishing needs from wants. If there's something you don't need but really want, regularly set aside money for it and watch for a sale. In the meantime, you may end up deciding it's not that important to you.
Petsche is a freelance writer and veteran dollar stretcher.