During this recession, consumers have changed their spending habits and are
more interested in saving money. The trend of spending less and saving more has
brought about new saving tactics and re-introduced old ones that were effective
in past recessions. Here are some ways to help you save more money:
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Clip coupons. More people have been clipping and using coupons during this
recession. This was the first year in almost 20 years that coupon use didn’t
decline. With manufacturers and retailers making coupons available online, this
coupon trend is expected to continue. Another reason for the increase in coupon
usage is that people are really benefiting from them and noticing real savings.
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Compare prices. This saving tactic is becoming more universal as people across
all income levels are comparing prices by shopping around and settling for only
the best deals. There are online price comparison sites in which you can find
deals and get a feel for which stores offer the best value.
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Bargain for a lower price. More consumers are feeling comfortable asking for a
better, more affordable price, especially when the mark-up on items is high.
Yard sales and flea markets are typically places where bargaining takes place,
but it has become more acceptable to bargain for a lower price in retail stores
as well. The more creative and assertive you are when negotiating a lower
price, the better your chances are of getting a good deal.
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Buy in bulk. This is a guaranteed way to get more for your money and make fewer
trips to the store. Consider a group buying strategy in which you can share
bulk deals with friends and neighbors. This alternative minimizes waste and can
help you save even more money.
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Scale back on discretionary or optional spending. Consider reducing trips to
the dry cleaner and salon. Look into lowering your cell phone and cable bills.
Try do-it-yourself alternatives that will help you save money and at the same
time learn something new.
When it comes to spending less and saving more money, small efforts that are
practiced regularly can go a long way and make a big difference in the long-
and short-run.
