Now more than ever before many people are having to evaluate their spending and saving habits in order to make ends meet. The world economic crisis is hitting people hard. Jobs are less secure, property can’t be sold as easily as it used to be, and in some countries austerity measures have meant cuts in wages and pensions. And in may families bad debts have increased. If you have been affected by the credit crunch it could be that working out a budget can help you to live on less. And whether you write it down on paper, or on your computer, it’s a good idea to have your budget in black and white, not just in your mind. That makes it easier to see what spare money you have at any given moment. Until your financial situation improves it might even mean cutting out or reducing non-essential activities, such as entertainment, or vacations. With the weekly shop, for example, look for discount coupons that become available. Larger stores especially have offers on certain items, some perhaps just lasting for a few days, other offers continue for several weeks. If those products are among those that you can use then consider buying at the reduced price. Prepackaged foods are convenient, but come at a premium price. Buying the basic ingredients and cooking the meal from scratch can result in big savings, as well as often being more nutritious. Bulk buying can bring big savings, though when buying fresh foods be sure not to overstock and risk having food which will spoil. It seems that those who shop more frequently often end up spending more than people who do a main shop just once a week. Planning what you buy cuts down on the temptation to impulse buy. Where clothes are concerned, in many countries there are places called resale shops, (in some countries also known as charity shops, thrift stores etc). These types of shops get second hand clothes given to them at no cost. They are run very often by volunteers, and overheads are kept to a minimum. Prices for clothes, or other items, are kept low, which means that some good bargains can be found. You might even come across some designer labels. You might live near a dress or clothes agency. As the name implies, these are shops where people take in their old clothes which they no longer want, but want to get some money back from their sale. A price is put on these items, and a percentage of the resale price goes to the shop, the rest to the seller. Again, you might come across some good clothes at affordable prices, though clothes bought from these stores are rarely as cheap as those from resale or charity shops. Finally, if at all possible, only use your credit card if you can pay it off in full each month. Paying interest on your card is never a good idea.
