Ways to Save Money in Tough Economic Times

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In the last few years we have seen some of the toughest economic times. We’ve watched the news as banks were on the verge of closing. We’ve watched the housing market turn literally upside down and thousands of people lose their homes to foreclosure. Everything has been on the rise: food, gas; medical expenses. So today more than ever it can seem impossible to save money.

While it may seem impossible, it really isn’t impossible to save money. You can always save money is some small way. While saving a lot of money would be ideal, it isn’t always feasible. So by starting out small and working your way up, you’ll lay the foundation to savings success.

In order to begin having money to save you need to first find ways to cut back on your expenses. In order to do this try the following:

  • Cut back on cable. Believe it or not, generally people pay for more channels then they ever truly watch. Cut down your cable package to the basics of what you need. Ask yourself if you truly watch all those channels enough to continue to pay for them. The average cable/satellite bill can range from $50 to well over $120. So you can save greatly in this area.
  • While you’ve heard it over and over, stop using excess water. Water your lawn only one to two times a week for about 30 minutes at a time. Turn the water off while brushing your teeth. If , you’re washing dishes by hand, turn off the water and wash up a stack of dishes and then rise them instead of keeping the water running.
  • When grocery shopping, use coupons when possible. In addition, compare labels when shopping. Name brand doesn’t always mean the best deal. Generic or store labels have come a long way in taste over the years. Compare these brands to the popular name brands to see which one offers you the most for your money.
  • Shop at local farmers markets and produce markets to get fresh produce at a generally better price then most local supermarkets.

Once you find ways to begin to cut back on your expenses then it is time to start saving money and putting it away in the bank for a rainy day. If you don’t think you have enough money to save then think again. You can start by putting back $5 a pay period. While you may only be saving $10 to $20 a month, it’s a start and as you begin to pay off bill or find more ways to cut back on expenses then you can begin to save more. The goal is to simply start saving.

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