Economic downturns are never much fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Though none of us can say for sure when this latest slump will reverse, there are at least sure ways of stretching your cash in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:
1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do some of our shopping on the Web now, not as many of us seem to have learned to coupon-hunt on the Web. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at retailers all across the Net.
2. Use price-comparison sites like Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best deals online.
3. When you’re at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” and then the name of the product you’re interested in. Google will reply with a text message quoting the online prices. To compare prices at stores in your area, go to ShopLocal.com.
4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s Club and buying in bulk. This can be especially helpful if you have a sizeable family.
5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing hype and not the product, anyway.
6. Withdraw your green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-sourced food at farmer’s markets or stores that sell local produce and meats. Prices there are often lower since the food doesn’t have to be transported very far.
8. Shop at dollar stores. You should have an easy time finding one since they’ve been popping up all over the place in the recent past.
9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying less than half as much for the generic medications carried by these discount prescription drug stores than you would for the same brand-name medications at brick-and-mortar pharmacies.
10. If your vehicle is seven or more years old and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance. Your deductible may be closing in on the value of your vehicle anyway, in which case a major collision would send your car to the junk yard and you to the dealership.
11. Keep cell-phone costs under control. Today’s kids love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messaging.
12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are great resources for finding everything you need, from pre-owned furniture to baby gear. By buying from locals, you can save on shipping costs too.
13. Go to matinees. Matinee showings are frequently more reasonably-priced than peak-time showings.
14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption of your electrical appliances.
15. For your next date, have a romantic picnic instead of going to an expensive restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some zest with a bottle of vino.
16. Instead of spending money on software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of program, the free alternatives will frequently be just as good as the paid versions.
17. If anyone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in scores of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re asleep and out of the house. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.
19. Consider quitting your health club. Less expensive options may include a gym at your work, in your building or community, or at a nearby parks and rec. center.
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