We’re always telling people to save their money — but that’s just because we’re overcompensating for a society that spends too much. It is possible to be too frugal and you risk regretting that you didn’t have a little more fun while you had the chance.
We could all use a little extra spending cash in our pocket these days. Help wring a little more cash into your savings account with these five tips from Wisebread…
Americans took their cost of living raises and stuck them in their piggy banks, says the Commerce Department, pushing the savings rate to a 14-year high. Not long ago we had a savings rate of 0.1% — now it has skyrocketed to 5%.
Capitalism isn’t doing well these days leading the entrepreneurial among us to embrace bartering. Traffic to Craigslist’s bartering section has more than doubled since last year as people to try to make use of skills that might not otherwise have much value.
Good news thrifty diners, you’re not the only ones asking to share dishes at restaurants these days. Thanks to the recession, it’s becoming acceptable for everyone to split their dishes, and restaurants aren’t complaining. “Now all bets are off,” said David Pogrebin, manager of the snazzy French restaurant Brasserie. “People are not ashamed of being frugal.”
Here’s a good way to save a bundle on your bundle of joy – share a sitter with a neighbor. By dropping off her 15-month-old at a neighbor’s place 4 days a week, Real Simple reader Maureen Dempsey says she saves ~$400 a month. The article doesn’t specify it but I imagine babysitter watches both kids at the same time for a little bit more but not as much as hiring two separate sitters. Plus Maureen’s kid also gets to interact with another kid at the same time. Surviving the recession is all about working together and splitting up costs. [via Real Simple] (Photo: Ordinary Guy)
Sometimes when people have trouble saving at least 10% of their income on a regular basis, it’s because it hurts too much. After you pay the bills, set aside money for groceries, booze and guns, it seems you don’t have enough left over to save with. So, what you can do is exploit “out of sight, out of mind,”
Here’s our weekly roundup of the best personal finance news. Inside: investing lessons, gadgets to buy, mentoring, career tips for women, and fixing money mistakes.
Why waste precious cash at Borders and Barnes & Noble when you can go to the library for free? It’s a simple question that is causing traffic local libraries to spike as flocks of new patrons register for library cards. We’ve praised libraries before, but it takes a depressing recession to convince people that yes, even they could use an extra buck in their wallet.
Consumers low in spirits are starting to sadden bar owners as they increasingly take advantage of happy hour deals. People aren’t cutting back on their drinking, but they are consuming more at home and trying to extract more booze from their buck when they go out.
The consistently useful Get Rich Slowly has some New Year’s resolutions for you: 9 Methods for Mastering Your Money in 2009. We especially like methods 3 and 7, as they’re easy fixes that shouldn’t take more than a couple hours to implement.
KidsSave is a kid-centric application (Windows XP only, with an OS X version coming out next year) that lets your child track allowances and other types of “income” and teaches the benefits of saving.
For many of us, this is the first recession where we are responsible for our own financial well-being. How should we react? What habits are important during a long, deep recession?
Meet Steve and Annette Economides. They are raising a family of 7 in Arizona on an annual income of about $44,000.
Yet another success story for our “Just Ask To Pay Less Money” technique. Commenter tinyrobot was paying too much for Time Warner Cable, so he called them up and told them so. Now he pays less. It’s not a Thanksgiving miracle, you can do it, too.