Tuesday, May 19, 2009

Recessionista Tip #5: 20 Ways to Save Money

In an effort to inject more frugality into my life, I have taken the following measures to ensure that I save more money every month. It has worked for me for the past couple of months. Perhaps it might help you save some money too.
  1. Clean out closet. Sell stuff for cash or donate to get a tax deduction.
  2. Repair or alter clothing to give it a new life instead of tossing them out.
  3. Dress minimally; mix-and-match key fashion pieces.
  4. Replace some high-end skincare and makeup brands with drug store brands.
  5. Write a list before going shopping.
  6. Do own manicure and pedicure.
  7. Get a rewards and cash-back credit card.
  8. Avoid paying interest on credit cards.
  9. Request a reduction in credit card interest rate.
  10. Always pay credit card bills on time to avoid late fee.
  11. Refinance home mortgage.
  12. Making gifts instead of buying.
  13. Buy refurbished electronics.
  14. Read magazines online.
  15. Get rid of land line, just pay one cell phone bill.
  16. Eliminate some cable service.
  17. Cancel health club membership.
  18. Eat out less. Cook simple meals at home.
  19. Drink water instead of flavored drinks.
  20. When eating out, order an entree and appetizer instead of two entrees.