15 Ways to Swim (Not Sink) in Financial Waters

frugal living,
When the financial going gets tough, the tough start __________________ (saving, hoarding, conserving - insert whatever word you think fits best). This economic downturn has everyone feeling anxious and edgy. In economically tumultuous times, knowing which things you do have control over will help to elicit a realistic picture about your spending habits and those lifestyle changes that can be altered.

I've purposely proposed an incomplete list of possibilities for cutting corners during recessionary periods. Feel free to share your cost-cutting ideas and tips with the rest of us:

• Start cookin' – huge savings and health benefits can be had by not eating out and not throwing out so much food (be creative with "planned-overs"). Get used to brown bagging that lunch, brewing your own coffee, cutting out bottled water, sodas and juices (switch to fresh fruits), minimizing vitamins, supplements, and diet foods (again, up your intake of fresh fruits and vegetables and healthy alternatives).

• Cost-consciousness is cool - whether shopping (when necessary) in discount stores, buying generic and/or in bulk, or clipping coupons (not only from fliers and periodicals, but through a host of online coupon sites), the savings can be quite appreciable; investigate buying used or refurbished whenever possible.

• Downsizing – this may be an opportunity to consider a smaller house, condo, or apartment (cheaper. "greener", less time consuming to maintain, and possibly a shorter commute to work), while giving an incentive to get rid of "stuff"(aided by garage sales, ebay, Craigslist).

• Stay-cations –economical (and possibly less stressful), holiday options. Take advantage of extra time and energy to do the things you always meant to do, all within a short distance from home. Always take advantage of neighborhood parks and activities.

• Ax non-essentials – while at first seemingly difficult, eliminating lessons, memberships, subscriptions, cable, cell phones (which can be re-instated down the road), these "essentials" are often not much missed!

• Cache cash - helps keep you honest by buying only what you really need and can afford, warding off impulse buying and focusing on saving. It ISN'T a bargain if you don't need it!

• Transportation alternatives - Bike, walk or run whenever and wherever possible; coordinate your errands, carpool, use public transport.

• Remember the library – not only to borrow books, DVDs, and use computers, but a great venue for community performances and kids' activities.

• Do-it yourselfers of the world unite! - have someone teach you or do research and learn a new skill: hair cutting, pet grooming, gardening, etc; try trading your expertise with friends or neighbors, rather than hiring someone to do a needed job or repair.

• The beauty of bartering – trade for a variety of goods and services, which can be done on an individual basis or by joining clubs (check out the innumerable online options).

• Abandon the "throwaway" lifestyle - be aware of the disposable things you use and start to replace them with the "Real McCoys", i.e. cloth napkins, re-usable dishes, cups and silverware, etc.

• Better on a budget – have weekly discussions (children included), about "discretionary spending", stressing the importance of sticking to the budget; subscribe to online "frugal living" newsletters and websites; shop online to price compare and save gas as well as time and effort.

• Career switcharoo - time to consider changing your job or profession? Get the info, education, and training needed to pursue another vocation, or a company or business that is more likely to weather economic storms.

• Re-inventing entertainment – organize "pot-luck" dinners or "movable feasts" at several friends' homes, have swap parties (clothes, jewelry, toys, books, etc.), plan interesting themes for "soirees", rent movies and invite a crowd, invent "new" games and rediscover the old favorites with the kids, plan sports activities.

• Going "halfsies" – maximize savings by buying in bulk, dividing the purchase and its cost with friends or family; try sharing memberships, subscriptions, or even big ticket items to minimize expenses.

And remember, taking action is the catalyst for change!