Now that we have managed to collectively talk ourselves into a recession, I thought it would be a good time to post some serious money saving tips. I write this in honour of my son Adam, who on Monday was made redundant from the Reject Shop. To his credit, he has four I.T. job interviews in the next two days. Well done Son!
This list is a collection that I have been adding to over the past couple of months, and there are one or two that I don't subscribe to, like the #16. The rest are very sound advice in these troubled times and most also help you to reduce your carbon footprint.
1. Be a one-car or no-car family.
2. Get rid of your mobile phone. Don't just lower your plan, get rid of your phone altogether. Don't buy phones for your children. Make them buy their own on pre-paid. They will soon appreciate the true value of money.
3. For your home phone, cut call waiting, long distance, caller id. These are not needs unless they are provided free of charge.
4. Get rid of your cable/satellite TV. This will also save you electricity and give you 15 or more hours a week of spare time and about $50 or more a month back into your pocket.
5. Stop eating out. Take lunch to work with you.
6. Cook from scratch.
7. Drink water from the tap.
8. Grow as much food as possible on your property.
9. Buy used clothing. Use hand-me downs.
10. Mend your clothes.
11. Stop shopping. Only go to the shop when absolutely necessary. Try to limit your shopping to once every two weeks. Buy enough so that you don't have to go more than that. Don't ever run to the shop for just one thing.
12. Buy generic. Get the no-name brand food and generic brand medicine.
13. Eat less expensive foods, try: potatoes, beans, rice, soups
14. Turn your thermostat to 25C in the summer, and to 18C (or less) in the winter. Use a fan in summer and put on another layer in winter.
15. Learn to make things instead of buying them.
16. Get rid of your pets (extreme I know), unless they are a food source (chickens, goats, pigs, cows).
17. Cut hair at home. For the price of some clippers and some good scissors, you will have paid for your clippers in two or three haircuts. (Ever wondered why my hair is so short, my clippers are well used!)
18. Use the real thing instead of disposable.
19. Dry you clothes outside on the line, or on a clothes airer.
20. Turn off appliances and lights when not in use. You should be able to reduce your energy bill by at least 50% with a bit of effort.
Most of them are simple and easy to achieve, but all take will power and behavioural changes.
Good luck, we will all need to tighten our belts soon enough.