Saving Money When Things Are Tight

Conversations are happening all over the U.S. (and probably the world) , conversations that usually only happen in households where a drastic event (like the loss of a job) has occurred.

Families all over the country are examining their financial expenditures—and cutting out that which exceeds the “need” threshold. Some of it is just a precaution—and for some, it is a necessity.

While the price of gas has mercifully dropped below $3.00 in many areas, the prospect of a cold winter and a colder economy have put a chill in our forecasted spending.

The funny thing is that we may deny ourselves the things that really don’t make as much of a difference. For instance, declining to go to a restaurant in order to save some dough may leave you feel deprived of the simple treats that everyone should occasionally enjoy. If you eat out 3-4 times a week, slicing ONE of those visits may be reasonable, but going cold turkey may end up being drastic.

I suggest you start with the little things. Here in Portland, it’s sometimes tempting to take the Maine Turnpike to the Mall. Now, however, I’ll take I-295 instead and save the $1.20 in round-trip tolls. I’d rather deny a dollar to the government than I would to a local business that’s depending on me.

Avoiding credit card interest charges, unneeded bank fees and ATM charges—ordering a Medium instead of a Large coffee. Little things that can throw an extra 20 bucks or more a week—all add up.

We need to conserve….but…paradoxically, we need to SPEND too! Pulling this country out of a recession requires commerce. Let’s work to keep our dollars LOCAL…and if not LOCAL, AMERICAN rather than foreign!