Strategizing for Living Well in a Down Economy

If you are one (like me) who is being or has been affected by the effects of the current economy, it may be time to take a step back and assess what can be done differently. Do you have less money coming in? Have you been laid off or reduced? Or you may not be able to make ends meet on your income due to increased outgoing costs for basics like gas and groceries. Whatever your situation, you’ll find there are many ways to reduce or help subsidize your general living expenses. By the time many of us “wake up” to the fact that things are tough and may not get better financially right away…we are in financial trouble.

There are things we can do to quickly and dramatically change our living expenses. You may have to step out of your comfort zone a bit, but tough times call for a change. Time to strategize!

Do you live in an apartment or house where you could bring a roommate? Can you open a bedroom (and bathroom) for rent? Check your lease and make sure you are not in breach of the lease to do so. Many apartment complexes will allow a new roommate as long as they register with property management. Most of the time, homeowners can rent a room or share their home with no restrictions.

Do you drive to work? With gas prices so high, it has been difficult for many to continue shifting independently. Find other people at work who might be interested in carpooling. Many cities now have established carpool directories. Consult your community, town hall or mayor’s office for the available options. In some larger, traffic-dense cities like Atlanta, there are even monetary incentives for people to start carpooling!

Have a plan before you buy. Gone are the days of picking something up when you have no idea what you’re making (or bringing home) for dinner. Develop a menu and buy what is really needed. It costs much less to prepare dinner than to go out to eat. You can go even further if it involves pre-planning. Shop the sales and shop with the season. Google “inexpensive eats,” “frugal eats,” and “tips to save money on food” for lots of ideas to save on your food budget. But remember that a sale is only profitable if you don’t succumb to the temptation to buy something you didn’t need in the first place because it’s “on sale.” Plan your menu and snacks and shop accordingly. Make the days of shopping on the go a thing of the past. Now shop smart…you’re on a mission! Big savings can be had with just one plan.

Consider buying used instead of new. Check yard sales, consignment stores, thrift stores, or http://www.craigslist.org/ for the items you (or your kids) need. You can often buy gently used or gently used items for a fraction of what it would cost to buy new. Consider that in a couple of weeks or more your new item will be in the rarely used category. How much more are you paying to have that new smell for 2 weeks? If you choose and shop carefully, you can buy almost anything at a greatly reduced price. Many people are selling items now to make ends meet. As always, use good judgment and check before you buy. If your gut says something “doesn’t feel right,” no matter what it looks like, don’t buy it.

Find more profitable forms of entertainment. Don’t just park yourself or your family in front of the TV! There are so many wonderful things to do for very little money. Check your local paper for free events like concerts on Main Street or in the park. Check out nearby hiking or walking trails, waterfalls, or scenic or historic areas to explore and enjoy. If you walk into cool stores on your way, collect postcards or ideas (notice how something is done to duplicate it or just appreciate its artistic value, but leave it on the shelf… :)). Instead of dining out at your favorite restaurant, look for lunch specials or enjoy dessert anytime after dinner at home (consider ordering water; drinks are often the most expensive items on the menu, unless you’re going to be there for a while). time and make use of recharges). Grill or, better yet, go to a park for a barbecue or have a picnic and let the kids play on the swings. Find a park or public area with ducks and geese (watch out for geese, they can be a bit aggressive at times) and feed them stale bread. (Kids will love tossing a few pieces of bread into the water and watching the ducks clamor for them.) Go camping (if you don’t have equipment, consider borrowing it). Check out discount movie theaters or special price deals (at off-peak times, like Saturday mornings before noon, theaters will have heavily discounted prices). Go to an arboretum and enjoy the flowers and butterflies or take a rowboat on a local lake… There are so many great inexpensive things you can do if you are open to new experiences and discoveries. You may find that you’ve been missing out on a lot by taking the easy way out (like great food and/or movies with all the super expensive meals) of “entertainment” for so long. Hey, have fun out there! If you don’t feel like going out… why not grab a good book or put on some music (or both) and light a few candles and relax for a while? Life doesn’t have to be expensive to enjoy it. The simple things, laughing hilariously at a silly joke, relaxing in a hot bath by candlelight, gazing at a lake or waterfall, watching your children play in the park, reading a good book or writing a good book, painting a sunset or watching the sun rise or set… that’s what I call living at its best!