The economic news continues to be bleak, with ongoing reports of job losses, gloomy forecasts and weaker economic numbers. Not even the euphoria of an Obama victory or aggressive rate cuts by numerous foreign central banks has been able to wash away the harsh realities of the current financial mess the world is in.
Now is the time to hunker down and tighten belts. While never easy to change one's long-standing habits, it can be easier than one thinks. Here are some easy ways to quickly (and somewhat painlessly) save some cash.
1. Lessen your debt by cutting up your credit cards, so that you don't spend as much
2. Reduce interest costs by paying off as much of your credit card debt as possible, or by consolidating your loans
3. Review all your insurance (car, home, life) and utility (cable, phone, cellphone, Internet) rates and change vendors
4. Cook rather than buy prepared foods (cheaper and healthier)
5. Cut out daily impulse purchases, such as candy, lattes, cosmetics, magazines etc.
6. Sell unused items - those items that you have purchased, but now languish in a closet, garage, attic or basement.
7. Use the library as your source for DVDs, books and magazines
8. Use coupons, and buy in bulk on staple items that are on sale
9. Comparison shop before actually buying
10. Dine in with friends, rather than dining out at expensive eateries
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