Secrets Of Economizing In Inflationary Times


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Secrets Of Economising In Inflationary Times

 

During periods of high inflation, most people have to "tighten
their belts," and watch their expenditures a bit more closely. After
all, buying on credit and attempting to spend more than you have coming in is
a sure-fire road to financial ruin.

In order to live within your income - keep the bill collectors off your
back - and not really lower your accustomed standard of living, this report
is made up of a number of proven ideas to help you.

One of the first things you should do is take write out a budget. You
do this by listing your total take home income on one piece of paper, and all
of your regular monthly obligations on another piece of paper. A good idea is
to set up a separate envelope for each of your bills - use the envelopes from
your incoming mail for these, marking on the front of each envelope what it's
for.

There should be an envelope for your mortgage or rent payment, for any
payments to loan companies, and of course your charge cards, for your
groceries, your lights, heat, water and telephone costs. Then, as you get
paid, cash your check and divide the money you have into each envelope. If
you're "strung out pretty tight," you may have to contact each of
your creditors with a request to lower your payments, and extend them over a
longer pay back period.

If after making out your budget - and actually seeing on paper how much
money you've got to pay your bills - this is necessary, then by all means get
in to talk with your creditors. Tell them about your situation; explain to
them that you've taken a look at your income/outgo situation, and have
devised a plan and work with you in everyone off. In almost all instances,
they'll welcome your plan and work with you in every way possible to help you
get caught up.

Probably the biggest area in which you can cut your expenses is with
your groceries. To do this, always make a detailed and itemised list of the
things you need before you leave home. Total up the costs and if it goes
beyond the amount you want to spend or have to spend, simply go back through
your list marking off those things lease necessary. Never go grocery shopping
when you're feeling hungry!

When making up your list of groceries to buy, always check your local
newspaper for best buys - if you've had to discontinue newspaper delivery -
check your local post office about midweek and you'll find "grocery
shoppers' supplements" stacked up by people who don't want them. Go
through your papers with a fine tooth comb and compare prices. Shop at the
"no frills" stores, the "food barns" and liquidation
sales.

By all means, clip out the "cents off" and refund coupons.
Keep a sharp eye out at all times for these coupons and use them - if they're
for brands or items that you don't want to use, offer to trade them with
people who want them.

It almost goes without saying that when you're trying to watch your
expenses, you'll have to give up snacks and eating out. Instead of buying a
candy bar to munch on as you walk through the store, buy a bag of apples and
take one with you from home. Instead of eating out once a week, cut it down
to once a month and make it a real reward for having lived within your budget
for the preceding month.

With your cooking, prepare more of your meals from scratch instead of
serving processed, pre-cooked or hear and serve meals. Save your
foil/transparent plastic wrap - just wash it and use it again. Use paper
towels or do without napkins. Use bread wrappers and save those place
containers - just wash and use them for keeping leftovers. Use washable cloth
handkerchiefs instead of expensive facial tissue.

Clothing is another area in which most people can save. Instruct
everyone in your family that there won't be anymore new clothes purchases
until you've got your finances reorganised - instruct them to learn to value
and take care of the clothes they have - make them last longer. Learn to sew
on buttons, repair ripped seams, and sew on patches. Never throw anything
away - if something becomes outgrown or no longer wanted, save it for a
garage sale or trade for something you can use at a second hand store.

Learn all you can about auto upkeep and minor repairs. Visit your
public library and explore what is available that you can use to learn how to
"do-it-yourself" instead of having to pay someone to do it for you.
Talk with your relatives, neighbours and co-workers about swapping services -
you do little odd jobs for them in exchange for their doing things for you
that you either can't or don't want to do.

Save and sell all materials that can be recycled such as aluminium,
bottles and paper. Don't splurge on gifts - either at Christmas or on
birthdays. Think of things you can either make yourself or trade for -
often-times a handmade card is a gift-enough when times are tough.

And finally, don't go shopping at the big advertised sales if you don't
have the cash in hand to buy a needed item. A savings of $50 on an item that
puts you $50 in debt is no savings at all. At the bottom line, before you buy
anything, ask yourself if you "really" have to have it!





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