by Yannick Dyer

Created on: May 03, 2008

The recent downturn of the U.S. economy has inadvertently caused me to cut back on buying. I did not know that I had the power to save money because I used to waste money and not know the traces of my spending. However, I recently developed a habit of cutting the costs of my expenses so that I end up having money left over.

CELL PHONE
I once had a plan of 600 anytime minutes on my cell phone. I was an avid user of this plan because I liked to talk on my phone a lot. But I have now reduced to 300 anytime minutes and I no longer use my cellular excessively. This has saved me over $20 a month which adds up to over $200 saved in a year. I also pay my bill in a timely fashion so that I can avoid late fees which is an additional $5 a month. I took off all text messaging and additional features, which would have added about $15 to my monthly package.

FOOD
Now I am not recommending you change your eating habits or your diet, but I will show you how a change worked for me. I used to eat chicken and meat and a lot of fast food, because fast food was to me, the easiest and most affordable way to eat on a 30 minute lunch break. But man was I wrong! I started reading magazines on healthy eating and I chose to buy only vegetables, fruits and whole grain foods such as corn, oats, and rice. Not only did I lose weight but I kept my grocery expenses down quite a bit. Chicken and meat were usually the bulk of receipt from the grocery store, but I began to eat healthier and feel better. I also used sparingly the non-food items such as toilet paper, paper towels, etc. so I didn't have to keep making unnecessary trips to the supermarket. Now if you have a newborn or growing children, then I cannot offer much advice because diapers, baby food, and growing appetites can put a heavy load on your spending.

TRANSPORTATION
In my city, the public transportation system is not as reliable as it should be. The train only transports 3 percent of the population and the buses do not go everywhere and routes do not run all night. So I am forced to use my car but I perform regular maintenance to ensure that my car gets the best gas mileage. I am prompt with oil changes, tire alignment, and regular tune-ups once the mileage has reached 30,000 miles since the previous one. I also reduce the weight I carry in my vehicle by eliminating clutter in the trunk and throughout the interior. I do not speed and I only use the air conditioning in extreme heat. And if I am not going far, I use the bus or ride my bicycle, which is quite fun.

ELECTRICITY
This utility is a big factor in cost-effective saving. As consumers of the luxurious utility of electricity, we often take it for granted and sometimes leave things plugged in when they are out of use. This unnecessary power is read from your meter and adjusted accordingly to your next light bill. My advice is to plug out computers, televisions, stereos, lamps, and other things around the house when they are out of use. This will save you a bundle of money.

It is not easy when budgeting and saving. Bad habits are hard to break. Sometimes we are so set in our ways that one little change drives us off course. But it is a necessary change because at the rate this economy is going, who knows if we can enjoy the luxuries and the nonchalant spendings of the past. In other countries around the world, people cannot even afford food and are starving. We are fortunate to live in a place where food is so attainable. But we cannot abuse our power, we must give as much as we are blessed to receive.

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