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How to save money in recession?

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larrob1234
larrob1234 Answered:

1)  Have a tight budget.

2)  Don't eat out.

3)  Use grocery game or other tool to save on buying groceries.  (Can save 30+%)

4)  Don't make new purchases unless absolutely neccessary.  Like a car, furniture, electronics, etc.

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JtotheA
JtotheA Answered:

The same as when times are good.  Don't go out spending money, don't buy new clothes, reduce your consumption to what you need, and find hobbies that cost no money.

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anne
anne Answered:

Follow a simple rule; avoid spending on unnecessary things. Set a target for savings, ideal would be 10% of your income (this is what i do personally). Get control over your financial transactions- track every dollar earned and dollar spent. If it's ok with you, you could use one of the financial management tools like Rudder.com.

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Lolita
Lolita Answered:

Save your money for unnecessary expenses. Spend your budget for food and utility expenses.

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JimmyC
JimmyC Answered:

Just watch everything you spend. I opened a savings account and every week put a small amount into it.  You never know when you'll need it.

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Simran
Simran Answered:

Stop going out for shopping, and keep a record of every penny you spend.

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Roy Kabiri
Roy Kabiri Answered:

The best way to save money during recession is to reduce your expenses by lowering your utility bills, cutting short your food expenditure etc.

 Actually - it is good for all times in life... 

It is very easy to live on a smaller budget without hampering your life style too much. With a few practical money saving tips you will be able to cut your expenditure by 25%-30%. This is serious money1

Take a good look at  http://www.best-money-saving-tips.com. It is full of practical money saving tips, categorized conveniently to different areas around the home.

Pick a few and start saving money immediately.

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