5 Tips - Stretch Your Recession Dollar Like a Rubber Band

Long gone are the passive money-making opportunities. Even the Suzi Orman financial experts are touting saving money as the new key to financial success. Security is not locking in a year CD at 2.8%, The new ticket is frugality, watching your spending, “count your pennies”, as my Grandma would say.nDon’t buy it if you don’t need it. A new concept for our ravenous blinged-out-culture, obsessed with the obsession of buying the latest electronics, dining at the trendy restaurants, and impulsive compulsive shopping. Now is the opportunity to save money on a daily basis on those things that you truly need.nWant a few coins left in your pocket? Here’s some money saving tips to recession-proof your life.nn1.Buy in bulk. If an items on sale. Buy three if it’s a staple or an item you use often. If you’re eating oatmeal to lower cholesterol buy it in bulk. Don’t impulse-buy that $10 cake near the check-out stand, and dont’ drive yourself nutty thinking about it all the way home.(I have first hand experience on that one). To avoid that sugar craze, have a dessert on your list, which is the next tip.nnn2.Make a shopping list. Have it handy when you enter the grocery store and stick with it. Calculate that you’re spending $2.00 a minute in a grocery store, the longer you stay, the more you’ll spend. If you’re single you feasibly could be spending as much as a family of three. Produce and meats along with condiments, cleaning supplies make it more expensive. Store brands are often using the same food packagers as the brand names. Studies have shown an overall 20% savings when buying in-house brands.nnn3.Have Potluck Dinners - Instead of going out for dinner, have friends over and share the meal preparation.. Arrange ahead of time, who will bring the salad, main dish, dessert, etc. Good idea for singles, as well. But, you may find you can eat out a few times a week for what you are spending shopping.nnn4.CUT BACK $5.00 morning coffee habit. Make your coffee at home, carry a thermos and brown bag your lunch at least twice a week. Give up the notion that left-overs suck. Last night’s broiled chicken makes a good sandwich with mayo, lettuce, and tomatoes. Bring some fruit and you’ll be eating healthy and wise.nnn5.Suze Orman tauts to drive your car for ten years. Keep a car well maintained, and unless you have a lemon, no car payments can add up to a needed vacation. Suze is down on credit cards. Pay cash. Get a debit card. The theory: Don’t buy it, if you don’t have the money. Consolidate debt, if possible. Lowering credit cards interest rate, adds up to more expendable cash. And, in these precarious times that adds up to stress reduction and more time to enjoy life.