Managing the Household in an Economic Crisis

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A penny saved is a penny earned. This old saying hasworth! A good idea is to go shopping in groups so that
tremendous value, especially in the current economy.you can buy in bulk. Prices of some items fluctuate
Unless you have money to burn (so what if you reallyseasonally, so try to stock up at that time. Prepare to
do) there’s no harm in saving a bit for a rainysave enough cash reserves in advance for such
day. And if you’re really strapped for cash andsituations by making notes in your calendar.
live in a hand to mouth fashion, these tips that4. Always visit the clearance racks first whenever you
I’m about to give you will really be a blessing forgo shopping. Sometimes it may take a little more time
you. While the individual amounts may not be soto search for the right items but the savings will be
substantial, there are some nice tips which, when takenworth it. You can also get good bargains at thrift and
advantage of, will add up to a nice chunk. So,surplus stores.
let’s get started!5. Reducing wastage is also a big one. There are
1. My first tip is a two in one tip – set goals andmany things you can do to avoid wastage; things like
start planning. By goals, I mean that you should firstswitching off lights, fans and other electric appliances
make a list of your short term, intermediate, and longwhen not required (especially when you’re
term goals. This will help you plan wisely. Also, eachmoving from one room to another), switching off a car
short term goal that you reach will encourage you towhen you need to wait for over a minute at the traffic
save more and accomplish the next goal.signal, paying bills on time to avoid late payment fees,
“Reason why” you need to save is aavoiding delay in dental treatment, using the washing
powerful motivator. Next, whenever you go shopping,machine only when it is full, using up credit card reward
make a list of all the things you wish to buy and controlpoints and air flier miles on time to avoid their lapse,
your desire to buy anything else unless you will requirepaying off debts on or before time whenever you can
it in near future and it is currently available at a bargain.to avoid excess interest, keeping your house properly
Failing to plan in advance will lead to impulsive spending.insulated to avoid excess use of utilities like air
In fact, it would be best to leave your credit card atconditioner and room heater, canceling subscriptions to
home and come with limited cash, so you don’tmagazines which you read sparingly, selling suff you
give yourself any excuses!no longer need on ebay, etc are some great ways to
2. My next tip actually costs more money but is areduce wastage.
great saver in the long run – buy reusable stuff.6. Buy stuff of good quality, especially durable items.
Rechargeable batteries, artificial flowers, artificialDon’t go shopping vegetables with plastic or
Christmas tree, etc cost a little more initially but save apaper bags which will last only once or twice; use cloth
lot of money in the long run. Unfortunately, use andbags instead. You even save the risk of the bag
throw seems to be more of a norm these daysgetting torn in transit, causing embarrassment and
– I know folks who use paper dishes at home topossible damage. Also learn to extend the durability of
save them the bother of washing!stuff like covering electronic items with dust free
3. This tip will also need you to spend more initiallycovers, using anti-moisture products in appliances and
– buy in bulk. I cannot emphasize enough howplaces of high moisture, to reduce corrosion; powder
important this is. If you’re planning to buy noncoating aluminum slides, regularly oiling mechanical parts,
perishable goods (like soap), you should buy in as largeetc.
a quantity as possible and affordable, depending on the7. You can also save a lot when going for a movie, if
maximum bulk discount available. You should alsoyou’re a die hard movie fan. For example, you
prefer to buy stuff that come in larger quantities percan go for a matinee show or one where the tickets
unit. For example, if you plan to buy washing machineare cheaper, look out for discounted tickets normally
powder, you will notice that small packages arefound online, bring your own popcorn in an opaque
comparatively more expensive. This may not alwaysplastic bag placed in a large purse, wear jeans with
be true, so it makes sense in keeping a calculatorlarge pockets and stuff them with snacks and
whenever you go shopping, if you’re math ischocolates, etc.
not good enough. Divide the cost by the weightFinally, allow yourself to splurge once in a while! Saving
number of pieces for each different variety ofis good, but don’t be a permanent miser. Total
packages and you will know how much the differencedeprivation can sometimes lead to overindulgence, just
is. For perishable goods, be careful and buy the largestlike dieting. You should also understand the difference
quantity possible that will be consumed before gettingbetween a “need” and a
perished. Don’t overbuy to an extent that you“want”.