Ben Steverman of Business Week wrote a great article back in August showing some of the best ways to save money in tough times. Here are some of his suggestions:
- Track every expense.
- Vacation in the off-season.
- Cut out investment charges and fees.
- Cut back on eating out.
- Downsize your car.
- Cut utility bills, especially electricity.
- Make sure you don't have too much insurance.
- Find cheaper beverages to drink.
- Examine your phone service.
- Stop paying for premium cable.
- Drive less and consolidate trips.
- Use warehouse stores wisely.
- Lay down the law with your free-spending friends.
- Find free entertainment.
- Consider alternatives to gym membership.
- Cut your own lawn.
- Be smart with credit cards.
- Annualize your expenses.
- Force yourself to save.
- Institute a waiting period for major purchases.
- Pay bills online. Save on stamps and avoid late fees.
- Make sure you're deducting all business expenses.
- Buy generic drugs and groceries.
- Buy used.
- Shop smart.
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