Ten Ways to Save Money During a Recession

Ten Ways to Save Money During a Recession

The times of recession and crisis are the ones when people start to rethink their priorities and value their possessions and luxuries they have previously taken for granted. It is important to have a well-designed life in order to face all the problems a recession throws into the face of the citizens. It is clear that a change is needed in order to adapt and if a person does not manage to do so, the wave of crisis will throw him hard against the cliffs of despair. But there are ways not only to survive a recession but also to save some money while doing that. For the ones who are keen on finding out how, here are ten major ways to save money even in recession times which the UK is sadly facing once again…

10. Make a budget

Getting organized is the first step to success. Most people have no idea how much money they earn and how much they spend during a month. More than this, they actually cannot name the things the money went on. It is good to be aware that each penny counts. The important step is creating an expense list which should contain all the necessary things and also the extra ones. With a rough determination of the cost of each item, it is easy to draw the line at the end. If the expenses exceed the earnings, it is better to cut down from the extra expenses.

9. Do-It-Yourself

It is important to learn how to do things yourself in the time of a recession. There are so many things that can be done in a house that do not require the presence of a professional. In that way, the costs of all sorts of services will be cut down drastically. Everyone is capable of washing their clothes at home or having their manicure done in a second. If you do not know how to do a certain thing, maybe a friend is likely to help in return for one of your services.

8. No shopping unless needed

There is no reason why to go shopping unless it is absolutely necessary. Whenever someone makes a trip to the mall or supermarket they are likely to spend more money than planned. In that situation, it is hard to control what to buy as the impulse is high. The best thing is to write down everything needed on a list and go for it when it is full. In the store, it is good to keep the list close and cross out everything needed and bought. In that way, the temptation to buy other things will decrease.

7. Online reading versus buying magazines

Without buying issues of the favourite magazines and newspapers more than ten dollars can be saved on a monthly bases. It is better to read the news online as there is a lot of content and it is as valuable and as informative as the offline counterpart. If in any case, the hard copy is preferred it can surely be found in a nearby library. This is why spending money on such useless things is not necessary during a recession.

6. Alternative entertainment

It is clear that most people want to have fun and even during a recession this is a fact. But having fun does not mean spending a lot of money on it. For example, instead of spending money on a ticket and loads of popcorn at a movie theatre, there is the possibility to rent a film and have a night with some friends watching it together from home. It is as much fun as in many cases the atmosphere is nicer and people can really bond. The major thing is that a walk in a park and hanging out with friends could be as fun as an expensive gadget.

Discount coupons

5. Discount coupons

There has been no major issue in using coupons just to save some money. There are a variety of ways to find them. Coupons are present in newspapers, ads or online. With one simple search, there is a chance to find the desired coupon and even get lifetime deductions. The number of sites which offer them is countless and so are the possibilities to save money.

4. Alternative locomotion ways

Finding ew locomotion alternatives is great for the budget and for health. If the working place or the university is within five miles from home, there is no reason why a certain person should not walk, skate or even bike to it and if all that gets too much you can always buy a new e-bike to commute on! In that way, the consumption of gas is diminished and the environment is also preserved. It can be part of the daily exercise routine and it will have long-term benefits.

3. Eat at home

For a family, eating out can turn out to be very costly for the recession budget. It is important to keep the eating out occasions to only special events like birthdays or celebrations. It is better to cook at home or eat in a cafeteria where the prices are lower. Eating at home can be very bonding for every family and this is something that should be taken into consideration besides saving money.

2. No more brands

It is very tempting to go for the famous brands, but it is good to keep in mind that in many cases the only thing which costs more is the name, not the product itself. In that way, buying generic products is a better way to have the things needed with less money. Saving a lot more is due to the fact that the content is the same, but the name is different. But who cares about the name after all.

1. Cut down on fizzy drinks, beer and coffee

The three beverages fizzy drinks, beer and coffee cost a lot on the budget. It is healthier to drink water or natural juice instead of them. The homemade juice is better as it does not contain as many additives as the ones found in stores. Investing in a juice extractor can be the best choice as sooner the health will start to improve and also the expenses will get lower.

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