How to Survive Difficult Financial Times
Save Money and Stretch Your Dollar to Make Your Paycheck Last
Jul 10, 2009
Shopping wisely, selling household items, and using your skills and resources can help families make ends meet.
The financial environment in recent years has caused people to look for ways to lower their cost of living and stretch their dollar. Some have lost jobs due to downsizing or company mergers, as well as a variety of other reasons. Others have had wages reduced or hours cut due to the effect of reduced spending on businesses. No matter what the reason, it’s important to find creative ways to meet a budget.
Save with Coupons and Special Promotions
- Clip coupons from newspaper insets or mailers or print them online. To target coupons for commonly used products and frequented businesses, visit product or corporate websites. For example, generalmills.com provides a list of product lines. Click on any of the links to find coupon offers. Or visit sites such as CouponCabin.com or coolsavings.com.
- Search the Internet for promotional codes for products and businesses to save money on anything from groceries or home décor to travel packages. Keep an eye out for free offers and free samples from top brands. Many companies offer special deals to customers who shop online. Some even have links to special clearance or overstock sites.
- To help cover the high cost of gasoline, many businesses offer promotions for fuel savings. For example, supermarket retailer Giant Eagle has a fuelperks program. Customers who use the Giant Eagle Advantage Card earn savings at the company’s GetGo gas stations. Customers at GetGo earn savings toward groceries.
- Take advantage of frequent shopper benefits and store shopping cards to receive discounts on merchandise or special sale prices. Some pharmacies offer store gift cards for new or transferred prescriptions. Check health insurance plans to locate savings for mail order prescriptions offered at a savings.
- Shop for sales. Check out store ads for sale prices before leaving home. Avoid impulse buying by making a list and purchasing only the items on the list. Look for clearance racks or bins. Stores often put clearance items on the ends of racks, so watch carefully during trips down aisles.
Save at Discount Stores and Warehouse-Style Stores
- Shop discount stores like T. J. Maxx. The savings are already great, but the store also offers incredible clearance prices in clothing and home goods departments. Even specialty food products (gourmet coffees, jams, and marinades) are sometimes marked down to rock-bottom prices.
- Buy in bulk quantities. Robb Fulcher’s article “The Art of Buying in Bulk” provides information and tips for shopping in warehouse-style stores like Costco or Sam’s Club. These stores may have a membership fee, but by planning ahead, consumers can save money. Food co-ops are another great place to purchase healthy food in bulk and save money.
Yard Sales, Consignment Shops, and the Bartering System
- Earn money getting rid of stuff around the house. Yard sales are great ways to clean house and earn some cash. Used book stores may take books on consignment or give cash up front. Take used clothing and furniture to consignment shops. (Any bargain-shopping trip should include these places!)
- Barter with friends, family, or community members, or go to online bartering sites. A person with a small tree-cutting business may exchange services with someone who installs carpeting. Lending/borrowing expensive tools that are used only occasionally with a trusted friend can save both parties money.
Even though the economic situation may seem bleak, it's still possible to dress in favorite brands, eat well, and maybe even have a few dollars in the bank by following these tips.
The copyright of the article How to Survive Difficult Financial Times in Personal Budgeting/Finance is owned by Elayne Masters. Permission to republish How to Survive Difficult Financial Times in print or online must be granted by the author in writing.
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