The last few months have been interesting. A rise in uncertainty, a new economic outlook, and currencies worldwide falling in value. We have seen governments and banks worldwide engage in risky behavior to try and boost their economies and stem the bleeding.
Unfortunately, it is proving to be futile.
The recession knocking on our doors seems to be getting longer and stronger and is not going away soon. Governments and banks worldwide are setting themselves up for failure, and we are already seeing the effects of this in countries such as Greece, Portugal, Spain, Italy, Ireland, France, the UK, and the USA.
Everyone seems to be missing that this is not the end of capitalism. It is a correction—a natural part of a cycle that repeats approximately every seven years.
Now, I am not giving up hope. I know that this is not the end. More recoveries, booms, and millionaires will be created, and businesses will be launched. However, we may well see a long period of stagnation and decline.
So, if you are like me and think we will have to dip into savings or cut back on luxuries, here are some money-saving tips for surviving the recession.
Cancel your Cable TV Subscription
Cable TV is something you have always had hanging over you. You assume you must have it for the simple reason that it has always been there. However, it is a luxury that you could almost certainly do without.
You will save significant money every month by canceling your cable TV subscription. Most cable tv packages are a giant waste of money, especially with so much free content on YouTube.
Stop buying Coffee At Starbucks
Coffee is a costly and popular beverage, with many people drinking 2 cups daily from places like Starbucks. If you really want to enjoy some coffee at home instead of spending money every month on your favorite morning pick-me-up cuisine, try making it yourself! You can save lots by reducing consumption – not only does this help keep costs down and ensures better health outcomes, such as improved digestion or getting more sleep hours each night (which we all need). My personal go-to option? A cold shower course in wakefulness enhancement therapy…
Cancel Your Magazine Subscription
Magazines are a thing of the past. We have internet connections everywhere, and there’s always something new to read on your phone or computer if you don’t want any old magazines laying around anymore!
Stop buying Lunch Out
How much do you spend eating lunch at a restaurant each day? I bet it’s quite expensive and can add up fast. Instead, cook yourself some great food on Sunday so that by Friday, everyone is satisfied without having to resort to another payday loan.
Perhaps this sounds like too much work but trust me when I say cooking dinner every night will make your life easier in more ways than one!
Switch to Rechargeable Batteries
The good news is that you can save money by going electric. You’ll get much more use out of your battery and never need to worry about costly replacements! Plus, it’s an easy choice for those who care about the environment since rechargeable batteries last longer than standard ones – sometimes hundreds or even thousands more before recharging themselves.
The reason I’m telling you all this? Well, you’ll be glad we did once our analysis showed how much difference switching from disposable burned cells would make not just now but down future decades when fossil fuel prices keep rising. At the same time, technologies like solar and wind energy have become more economically viable.
Switch to Credit Cards which Pay Back Rewards
You will save money every year by switching to a credit card that pays back rewards. You can easily earn cash or flights just by using your favorite travel hacking website with ease!
Merely carrying one small fee from the everyday purchases in your wallet is enough for an exciting night out on the town – all thanks due solely to these lucrative incentives offered exclusively through most major lenders today like American Express, Citi, or Chase.
Switch to Cash
We all want to save money, but we often forget about the most important thing: ourselves. Paying with plastic and not remembering when you’ll get back into your old habits is silly – what good will it do if there’s no ring around those purchases? Switching back again for just one month each year (or however long works best) can make an incredible difference in terms of overall spending power on food & shelter bills every single calendar season!
The recession is knocking on our doors. It could hit us at any moment. The best way to prepare for this is to start saving now, tracking your spending, and using a savings calculator to help you stay focused and motivated. The one on SavingsCalculator.org works excellently.
I have tried these money-saving tips and have found them very useful. However, every situation is different. What works for other people may not work for you.
So, hopefully, you will find these money-saving tips helpful, and start saving your money now.