20 Ways to Save Money in an Economic Recession

20 ways to save money in an economic recession

1. Buy on Craigslist. Often a great deal can be had and you can save money by buying a used item from a seller on craigslist instead of something new. Ofter you can buy the item you are loooking for for a fraction of the cost of a new item and in very good condition. The older or more used the item the more you can bargain on the price.

2. Sale some of your used items. One man's trash is another man's treasure and Ebay has made this saying ring very true. Often times items that you would sell at a yard sale can be sold on Ebay or Craigslist for cash. You can even barter what you have for what you need with people on Craigslist.

3. Use coupons. Coupons are everywhere. You can find them in the newspaper, on websites and on products that you have purchased. There are even websites with gurus who can teach you how to get hundred's of dollars worth of groceries for less than $20 bucks.

4. Buy clothing and other items from resale shops or thrift stores. In a recession thrift stores and resale shops often thrive because people cut back on spending and used items are in more demand. There are many ways to save at these places.

5. Fix up your old car instead of buying a new one. In an economic recession every penny counts and for the price of 2-3 months worth of new car payments you can fix your used car up to running like new. The extra money you save can go towards paying down credit card and other debts.

6. Do repairs around your house yourself. A lot of home repairs can run from hundreds to thousand of dollars. There are minor repairs that you can do yourself that can save money. You can patch up holes in drywall, lay laminate flooring, paint, clean your carpets, and many more things.

7. Cut back on phone extras. If you are not home alot or have a cellphone then you have no need for 3 way calling and call waiting on your home phone. On your cellphone can get rid of text messaging, internet, and stop downloading ringtones, games, and software which can increase your bill a minimum of $1.00 per item. Or you can switch carriers to a service where you get unlimited access to all of these features for about $50 a month.

8. Turn off appliances when not in use. If you are leaving for work then there's no need to for the tv to be on. Turn off excess lighting when sleeping or when you leave home.

9. Carpool. Hitch a ride with co-workers if possible. With recent gas prices you can offer to pay someone $5/day to carpool with them and still spend less than what it would cost you for a round trip to work and back.

10. Eat out less. With the price of a meal for two at your favorite restaurant you can save quite a bit of money just by cutting back from eating out once a weak to once every other week.

11. Monitor your bank account and credit card spending. So manuy people are hit with over the limit fees on their bank accounts as well as over the limit and late fees on their credit card accounts. These fees can be quite steep. If you are hit with at least of each of these fees in a month you can lose about $100 of your hard earned cash. And remember, this is windfall profit for the bank. They have done no extra work for this these fees and it goes right into their pockets. They never even figure most of this money into their earnings projections so your money ends up as part of those big multi-million dollar bonuses these CEO's get even when the lose the company money.

12. Rent items instead of buying. If you are cash strapped you can rent items from home improvement stores or from appliance rental stores.

If you find any of this information useful or helpful then please leave a comment and link back to this page so others can benefit from the info as well.  Thanks.