Wishful Homesteader

tips to tighten your belt in tough times

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Tips to Tighten Your Belt in Tough Times
by Marianne Giullian
Small savings can avert a crisis

Benjamin Franklin said, "A small leak will sink a great ship."
Small things can really make a difference. If you consistently
spend more than you earn, even if it is a small amount, it
will create stress and financial bondage. On the other hand,
Benjamin Franklin also said, "Little strokes fell great oaks."
Focusing on spending less than you earn makes money available
for saving or reducing debts.

This reminded me of a recent newspaper article that stated how
people are combating higher prices by cutting out small
things. Even if it is a small amount, it will add up over time
to bring a greater feeling of peace and financial freedom. In
a recent newspaper article, it said that people are cutting
back on the small things to handle the rising costs of things.
The following ideas can help you save money by cutting back in
different ways.

1. General Things: Do your own work instead of hiring someone
else to clean your house, cook your meals, fix your car or mow
your lawn. Get rid of a storage unit. If the items in the
storage unit are valuable to you, they should be in your home.
If not, you are wasting a lot of money storing things that
probably aren't worth the price you pay to store them. With
the upcoming rebate to stimulate the economy, pay of debts or
build a reserve for unexpected expenses. Get rid of cable
television or gym memberships. De-clutter your home and sell
the things you don't want. Take care of what you have. For
example, regular brushing and flossing your teeth could save
you hundreds of dollars in dental bills.

2. Gasoline: Consolidate trips by planning ahead of time to do
your errands on the same day. Carpool. Remove excess weight
from your car. Get information ahead of time by calling on the
phone to save you a trip to the store if they don't have what
you want or if it isn't in your price range. Slow down as it
is more fuel efficient. Inflate tires properly. Buy gas at the
cheapest place in town. Walk or ride a bike or use public
transportation.

3. Make Things Last Longer: Use half the amount of soap for
laundry and for the dishwasher. Wash clothes in cold water if
there are no visible stains. Wear your outer clothing more
than once if it doesn't smell or isn't dirty. Tear dryer
sheets in half. Wash your hair every other day.

4. Utilities: Lower the thermostat and wear a sweater. Take
shorter showers. Unplug the things you aren't using. Run full
loads of laundry and dishes.

5. Entertainment: Go to a matinee instead of a movie in the
evening. Find free concerts in the area. Check out books, CDs
and DVDs from the library. Have a potluck dinner instead of a
dinner party. Find out who has the best prices to rent DVDs in
town and go there for your rentals.

6. Eating out: Go to lunch instead of dinner. Split a meal.
Find out about restaurant specials. Leave kids at home. Drink
water instead of soda. Get food to go instead of eating at the
restaurant and paying a tip. Eat half of your meal and take
the rest home for another day.

7. Clothing: Buy second hand. Trade prom dresses. Always buy
on sale. Buy off season. Have a clothes swap.

8. Groceries: Do your own cooking. Make your own bread,
tortillas, bagels, crackers, etc. Find less expensive
alternatives. For example, make spaghetti instead of lasagna.
Use cash when you shop so you can't go over your limit. Stop
buying junk food and soda. Use half the amount of meat or
cheese in recipes. Don't be loyal to one store. Buy produce in
season. Buy store brands. Take your lunch to work or school.
Don't buy precut veggies or shredded cheese. Instead, cut or
shred it yourself. Eat hot cereal instead of cold. Go shopping
less often. Don't waste food. Instead, eat your leftovers.

Little things do add up. By following the advice of Benjamin
Franklin, and by focusing on the little things, it can really
make a difference.

Take the Next Step:
- Little things do add up. Pick one of the above ideas that
you're not currently practicing and start this week. Then
start something new next week and so forth. Before long,
you'll notice the impact that these little things are having
on your big financial picture.

Untitled Comment

{ 07:21 AM, Thursday, June 26, 2008 } { Posted by Isabella }

Very good tips. I

Untitled Comment

{ 10:52 AM, Thursday, June 26, 2008 } { Posted by gabbie427 }

Love this post. We are currently trying to tighten up the budget, and these are some great hints and tips, and some of them even reminders on what I used to do, but forgot along the way.

God's Blessings,
Amy Jo