Stop Wasting Money

There is any number of positive measures that you can take during this time of economic crisis and turmoil to save your hard-earned money instead of wasting it needlessly. Here are just a few examples:

Conserve energy. Winterize your home now. Experts expect this to be a harsh winter; it's therefore recommended that you begin inspecting your home for cracks in the ceilings, walls, doors and windows. Make certain that the insulation in your home is up to par. Replace conventional lighting with energy-efficient bulbs and fixtures, and be sure to turn off the lights when leaving any room. Shut down your computer instead of keeping it in 'sleep' mode; and, if you have cable TV, make sure that your TV set is turned off along with the cable box. Additionally, you can save money on heating costs by keeping the blinds open during the day while the heater thermostat is at a lower setting. And, ensure that the windows are shut tightly during the cold winter nights. Set the thermostat at a comfortable but reasonable level at night.

Use appliances frugally. Instead of washing several loads of laundry each week, use your washing machine only for full loads. The same holds true for the dishwasher. Unplug any appliance that is not in use, and set your refrigerator thermostat at the manufacturer's recommended setting. Whenever possible, use a microwave oven instead of your gas or electric range.

Keep a watch on your 'meal money.' On your way to work, you might be tempted to stop at your favorite fast food restaurant or coffee house to buy a cup of coffee and a donut or bagel. Why not purchase an inexpensive thermos at the local dollar store and a bag of bagels at the supermarket instead? You'll be greatly surprised at just how much money this one small change can actually save over time. You can also bring your lunch to work from home instead of going out during the Noontime break. If you're used to dining out once a week, try cutting it to once or twice a month instead. Furthermore, try buying groceries in bulk when they're on sale, and take one Saturday to prepare meals for two full weeks. This will alleviate the need (if not the craving) to order costly take-out food.

Eliminate some of those 'temptations.' Do you receive shopping flyers or catalogs in the mail? How many emails do you receive from your favorite electronics-, department-, or clothing stores? You may wish to cancel those subscriptions and delete the emails so that you'll not be tempted to buy something simply because it's on sale. The rule of thumb should be, "If you can't afford it and don't need it, then don't buy it."

Put a lid on lottery tickets and scratch-offs. Are you in the habit of buying scratch-offs or lottery tickets when you purchase your morning newspaper or soft drink at your neighborhood convenience store? Have you ever calculated the amount of money you spend weekly on them? Your chances of winning are, well, negligible. Instead, put that dollar, five, or ten bucks into an emergency savings fund for a rainy day. After all, you may need it sooner than you realize.