While listening to NPR yesterday (yeah, I am a bit of a nerd), I heard that low unemployment rates were in fact not a welcome statistic. In fact, they were deceptive as they hid the fact that they were only low because so many people were no longer even seeking employment and instead were entering informal forms of labor or giving up altogether.
Awesome.
On top of that, I heard additional bad news: the price of consumer goods is increasing. Lovely.
America, as we know it, is coming to a screeching halt.
The recession did us all in pretty well (though I was fortunate enough to be in Brazil when the ball began to drop), though now in its third stage, inflation when combined with the tables of developing nations’ labor practices turning, the U.S. is losing footing as fast as other nations, namely Brazil, China, and India, are recovering.
Fortunately, despite the dark news, there is a light at the end of the tunnel. Coffee, meat, milk, eggs, and other “raw” foods along with other goods like cotton, leather, polyester (and even metals) may be going up, but there are ways to avoid suffering from the price increases. Here are some tips I have found to help save money in the present that will certainly translate into the future:
1. Buy dry goods in bulk: If you love a certain brand of cereal, canned good, coffee, etc, buy as much of it at once as possible! It’s a great way to save money as most suppliers allow you to save money with a bigger buy. Be sure to check the expiration date and bear in mind your consumption when purchasing.
2. Shop with a friend: If there’s an item you buy in bulk that can be divided, split it with a friend! You will both come away saving moola and getting your goods.
3. Learn to sew: It may sound loco to some of you, but sewing is not as hard as it may seem. In fact, it can save you a ton of money! Instead of throwing away that hole-y sweater or paying $15 to get your pants hemmed, invest in a used sewing machine or a needle, thread, and some patience and do it yourself. For those of you who really like a challenge, learn to convert your clothing. If you are tired of one item, turn it into another (or simply make a pre-existing item, like a dress, convertible).
4. Obey serving sizes: Read the serving sizes on items you purchase and follow them on items you cook. Most Americans overeat, and often by accident. If the bag says 12 chips = serving size, stop yourself before 13. Your chips will last longer and your pocketbook will thank you.
5. Take advantage of coupons and codes: If you buy products online (by which you can often save automatically by way of special deals and promotions), be sure to check sites like retailmenot.com or simply go to google and type in the company from which you are buying your products plus the term “promo code” and find codes you can apply during checkout for your online purchase. For things you buy in person, be sure to cut coupons from the paper, magazines, and even previous purchases (as some stores provide coupons with the receipt).
6. Don’t forget your card: Many chain stores (including grocery stores and pharmacies) provide discount cards that accumulate points that result in free gifts, discounts, and coupons. Be sure to use your discount card with every purchase so you can reap the benefits later.
7. Become a follower: Follow your favorite brands/companies on twitter and facebook for special promotions online.
8. Cut back on frivolous spending: Is buying that new shirt a life or death decision? MUST you get your nails done for $80 at a specific spa? Not necessarily. Weigh your options and prioritize your purchases. When it comes to beauty, learn to do it yourself and only go to the salon or spa once seasonally. Create your own at-home regimen and learn to maintain it.
9. Learn to cook: The price drama will affect restaurants, cafes, and eateries as well, but considering they must make a profit, their prices will be even more exorbitant (coffee at Starbucks, for example, is $5 a cup, when you could simply invest in a good coffee maker and save hundreds of dollars a month making it at home) than buying the items and making the dishes yourself. Try to eat out less and instead reserve it as a weekend treat and not a daily splurge. Speaking of which, be sure to take the extra 10 minutes and pack your lunch for work instead of relying on take-out at the office.
10. Reuse: Though recycling gets all the coverage, reusing is a key element in helping the environment and saving lots o’ dough. Reuse fruit and veggie bags as food to-go baggies or doggie poop bags (instead of buying the little blue bags). Invest in a good set of plastic storage containers so you can cook in bulk and freeze meals for later consumption. Rinse out and dry ziploc bags that were used with dry goods instead of throwing them in the trash. Turn scraps of paper into homemade post-it notes.
Though there are a zillion more tips for saving money during hard times, these are just a few to get you started. Feel free to think of your own and add more!
- Retail DJ
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