Economic downturns are never especially fun, but as Adam Smith noted over two centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of saving your money 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 part of our shopping on the Web now, not as many of us seem to have gotten into the habit of coupon-hunting on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at merchants all across the Web.
2. Use price-comparison sites like Pricegrabber.com, Shopping.com, mySimon.com, and Google Product Search to find the best deals online.
3. When you’re out at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” followed by the name of the product you’re interested in. Google will reply with a text message quoting its online prices. To compare prices at stores in your area, check out ShopLocal.com.
4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s 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 ballyhoo and not the product itself, anyway.
6. Withdraw your cash from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.
7. Buy locally-sourced food at farmer’s markets or stores that sell local produce. Prices are usually lower there since the food doesn’t have to be transported very far.
8. Shop at dollar stores. You shouldn’t have a difficult time finding one since they’ve been turning up all over the place in the recent past.
9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying under half as much for the generic medications carried by these discount prescription drug stores than you would for the same brand-name pills at brick-and-mortar pharmacies.
10. If your car is seven years old or older and/or worth $2,500 or less, consider dropping comprehensive and collision from your insurance. Your deductible may be approaching the worth of your car 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 text message, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited texting.
12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are superb resources for finding everything you need, from used furniture to baby gear. By buying from local sellers, 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 usage of your electrical appliances.
15. For your next date, have a romantic picnic instead of going to a pricey restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some color with a bottle of wine.
16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of application, the free alternatives will often 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 will get the holder 10% to 15% off in dozens of participating stores.
18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re asleep and away. Prices range from $30 to $120, but you’ll cut 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.
20. Lower your water bill by installing low-flow showerheads and $1 toilet displacement bags.
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