Surviving a Modern Day Depression - Tips For Saving Cash
Posted on November 2, 2008
Filed Under Tips |
As we began to look at today’s economy we soon realize that our care free, money spending lifestyles, might have to have some readjustments. In the month of June alone, Americans lost 62,000 jobs. That is not even considering the 49,000 lost the month before! Fuel costs are at an all time high with no promise of falling in the future.
With this kind of financial epidemic going around we must start to take steps in our daily lives to secure our families well being in case of more financial turmoil. If we all look into our lives we can begin to see how much money is truly wasted on futile things. Take into consideration a few of these tips for saving some green!
” Get a grip on your spending by recording every dime you spend throughout the next month. Then analyze and assess where your money was spent and use that as a guide on where to cut back and such.
” Everyone should have an emergency fund set up cover up to three months of living expenditures, should you be laid off or fired. If you work in a scarce field you may even want to have more that 3 months set back.
” Fight the urge to use your credit cards for purchases that you can’t afford otherwise. The last thing you need is to be
acquiring more debt trying to live outside your means.
” Save on gas as much as possible. Combine trips and carpool whenever possible. Also, keeping your car tuned up will help your gas last much longer as well.
” If you have credit card debt, stop or at least reduce nonessential expenditures. You should pay out any outstanding balances as soon as possible, starting with those that charge the highest interest rate.
” By groceries weekly vs. eating out 5 nights a week. You can save hundreds of dollars throughout the year by not throwing all of your hard earned money at a restaurant every day.
” Take your last puff. Depending on the wallop packed by the “sin taxes” where you live, you could save more than $2,000 a year if you go from being a pack-a-day smoker to a non-smoker. You’ll also qualify for significantly cheaper life-insurance rates after you quit.
Many of us are in a bind these days, hoping and praying that our economy will rise back to it’s American standards, but on the same token, if we practice these tips year around, through hard times and the not so hard, things will be easier when we are faced with this kinds of situations. It is up to you to make sure that you are living responsibly and spending according to your own means.
Chris Chism
Accounting-Bookkeeping
Banks
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