8 Great Recession Buster Ideas For Now and Later
1. We get into the habit of buying certain brands in certain sizes, but we need to pay attention to unit prices. For example: On average, 6 oz cups of yogurt cost about 50% more than 32oz containers. If you’re headed out or need to pack a lunch, the smaller containers make sense. But if you’re eating at home, scoop the yogurt into a bowl and save yourself 50%.
2. I love a great café breakfast as much as the next girl but rather than spend $15 or more on dining out, I’ve created an omelet that I love and can make at home.
I combine sautéed grape tomato, egg white, a touch of my favorite cheese and a few chives. A piece of toast and a cup of my favorite juice and I have a great breakfast for about $3.00.
3. I’m not a fan of the gym so I’m a little biased on this one, but with an average cost of around $40 per month, a nice walk or run around your neighborhood can save you around $500 per year. An added bonus is that you get to know your neighbors.
4. I’m a big fan of internet shopping and I like sites like Amazon.com. There are a lot of great deals there; but even so, when I’m shopping on the internet, I always check www.wow-coupons.com for deals. On Wow Coupons, I can search by site name and find additional discounts for Amazon and hundreds of other on line retailers.
5. Energy bills can get outrageous and with so many of us working in office buildings with windows that don’t open we’ve stopped opening our windows and doors at home. First thing in the morning, I open windows and doors to let in the fresh cool air. This way we don’t need to crank up the A/C until late afternoon.
6. Try a few new brands. Over the past few years I’ve tried a few new brands and store brands that I actually like just as much as the ones I’ve always used and we’re saving money. Give some store brands a try. They often come with money back guarantees so there’s nothing to lose.
7. Stop buying bottled water. We have small children so we’re very concerned about water safety. We had our water tested and it passed with flying colors. We still use a filtration filter for flavor but we’re thrilled that we’re not lugging home gallons and bottles by the trunk full.
8. For those times when you just aren’t going to cook no matter what and you really have a craving for a dish from your favorite restaurant; switch from the standard menu to the catering menu. You’ll easily get 6-8 servings from the catering menu for the price of 2 servings from the standard menu and you can freeze the extra servings for the next time you’re definitely not cooking and have a craving for your favorite dish.
An added bonus is that many of these ideas are environmentally friendly.
Graduation 2011
Every year around this time, I wonder what to say to our grads that will really make an impact. What can I say that they haven’t already heard, and perhaps ignored, a hundred times? What would I have benefited from hearing at their age?
This year, I think I’ve got it. It’s the importance of systems; systematic saving, systematic investing, and systematic planning.
Last week, I was invited to give a personal finance workshop. One of the attendees was a nutritionist. Like most nutritionists, she was very fit. Her eyes were bright and her skin was flawless. In that same, “It’s simple” tone that I use when I discuss the fundamentals of personal finance she looked at me and said, “Just replace everything white with something brown.” Noticing my quizzical look, she added, “Brown bread instead of white, brown rice instead of white. It’s all in how you shop.” She has a system.
As a graduate, you’ve just mastered a great system. Year after year, you registered for the courses, attended class, did the work, and passed the tests. It’s that simple. Not really. If you’ve done it, you know it’s not that simple. It’s a lot of work, but there’s a tremendous sense of satisfaction once you’ve finished. The work is hard, but there is a system; a road map to success and you’ve navigated it. So what’s next? What type of system will you master next?
After you’ve taken a few weeks to enjoy your achievement spend a few days creating your next system. Start with your goals. List your top three to five goals in order of priority. Would you like to become a home owner? Reduce debt? Continue your education? Take an amazing trip?
Calculate your net monthly income (income after taxes and deductions). Calculate monthly expenses. The difference between income and expenses is your discretionary income. That is the money that you can use to save for your home, your debt reduction, your education, your amazing trip. A plan for saving those dollars and investing appropriately will allow you master your new system. The sooner you create your next system, the sooner you will celebrate your next victory.
Feel free to reach out to us at info@lifemoneyconsult.com if we can help you in any way and sincere congratulations on your success!