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What is your # 1 Tip to saving money in this bad economy?

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Asked by Anonymous at 12:07 AM on Oct. 13, 2009 in Money & Work

Answers (13)
  • I don't have just one way. We bought the 10 year light bulbs, and our bill went down. We also make sure to turn off anything electric when not in use. We actually unplug anything we don't use daily. Saving money on water bill, we shower no more than 10 minutes in warm, not hot water; wash clothes in warm, not hot water. We're thinking of trying that laundry soap that lets you wash in cold water, too. We have low flush toilets, and when our youngest bathes, we only fill the tub very little. We turn off the water while brushing our teeth, too. For groceries, we use coupons, and shop at stores that double or triple them, and shop when things are on sale. Most of the things we buy are generic/store brand, so that saves money, too. We buy certain things in bulk, so we don't have to buy them again for months. We shop at thrift stores or Ebay for clothing, except for underwear or socks. I could go on and on...


    Answer by NightPhoenix at 12:32 AM on Oct. 13, 2009

  • We don't eat out as much as we used to. That saves us A LOT of money. I also recently started working from home to make some extra money!!!

    Answer by mommy2joeynabby at 2:54 AM on Oct. 13, 2009

  • We stopped eating out
    Shop the ads
    Look at freecycle first, then 2nd hand stores before buying clothes and other items.
    Walk and bike whenever and wherever you can
    Cut the junk food. No one needs chips, soda, or other sugary fatty snacks.
    Limit your grocery shopping to once a week and try to aim for once every two weeks
    Save a set amount every month for bulk food sales and other good deals. (Ie if meat goes on sale and you have space in your freezer.)
    STOP using your credit card. Studies have shown that you spend between 15 and 20% more when you pay with plastic.

    Answer by Anonymous at 5:21 AM on Oct. 13, 2009

  • Pay only with cash/debit card. Budget less than your income and spend only within the budget. Stop impulse buying. Buy gently used....especially kids clothes. Never buy brand new cars. Let someone else take the 40% loss in value during the first two years.

    Answer by halfpint_ny at 6:49 AM on Oct. 13, 2009

  • I have a few. Replace all incandescent lightbulbs with compact fluorescent. Unplug appliances not in use. Turn down the heat (our thermostat is set at 55 at night; 62 during the day.

    Here are my best tips for saving at the grocery store: Send me a message offlist if you would like some recipes.


    Answer by rkoloms at 7:07 AM on Oct. 13, 2009

  • it's too late now. the number one tip for saving money in a bad economy is to not spend it all during a good economy. frugality like health, is a lifetime choice. some people have to have everything all at once and some people know better. saving money at the grocery store with coupons and buying things on sale will never make that big of a difference imo. you have to learn how to not spend your money to begin with. people don't get rich cutting coupons and buying shoes on sale.

    Answer by jewjewbee at 9:02 AM on Oct. 13, 2009

  • Get divorced! So you both of the households could get government services.

    Answer by Anonymous at 9:29 AM on Oct. 13, 2009

  • I started another acct and have part of my paycheck automatically deposited in it, so when i check my main acct thats all i see, by the end of the month i have 150 bucks i never saw in the first far ive saved almost 500 bucks, im getting ready to go buy furniture cash with excited...other than that..i payed off credit cards, and started depositing what i was making in payments like 50 bucks a month into that other acct, so it was like i was still paying it, only i was the one making the money!! im going to do the same thing with my car next year when its paid off...

    Answer by sweetstkissez22 at 11:20 AM on Oct. 13, 2009

  • oh God anon :29, i certainly hope that you are kidding. if not youre ridiculous.

    Answer by Anonymous at 1:14 PM on Oct. 13, 2009

  • Do you mean save for longterm or just save money on day to day things? First forget the light bulbs If you are short of money it isn't worth the money to buy the more expensive bulbs and I have found they don't last as long as they are supposed to and we saw no real savings from bulbs alone.
    You can raise your a/c or lower your heat by a degree or 2 and that is noticable.
    Stop going out to eat if you do. Make menus and stick to a grocery list. Cut back to basic or eliminate your cable alltogether.
    If you want to keep saving long term have money taken out of your check to go to a savings account. We have money taken out before we get the check and we also have $25 a pay period automatically transferred to our ING account.

    Answer by itsmesteph11 at 1:20 PM on Oct. 13, 2009

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