by Angela Diggs

Created on: February 21, 2009

Saving money during a recession can help an individual weather the economic storm. These are tough times. Jobs are being lost as we speak, homes are in foreclosure and credit is hard to obtain. Conserving capital is mandatory at this point. A person can not afford to waste money. The government will do what it can, but it is best for each person to take responsibility for themselves. If each person does, the economy will recovery much faster. When the tough gets going, the going get tough. It will not be easy, but it is doable. Below are some ways to conserve money during a recession.

Save Your Change

If you see any additional coins, save them. Do not throw them away. Now is the time to take every penny, dime, nickle and quarter and put to to good use. Make it count for something. Every time you break a bill, even if it is dollar bill, take the change from it and stash in a large container. At the end of the year, put in a Coin Star machine. This machine will convert your change into dollars. Once this happens transfer the money into as high yield savings account like ING or Emigrant. Do this every six months after a year. Don't take the money out once you put it in.

Sell Unwanted Clothing

In some area's there are consignment stores or "thrift stores". Go through your closet and look for clothing you no longer use that is in good condition. Take out 5 to 6 items at least. Sell them to the thrift store. They will give you a little something for it. The great thing about this is that you are benefiting yourself and someone less fortunate at the same time.

Eat In

Reduce the amount of money you spend on take-out or restaurants. Buy your food from the supermarket. You will save so much money by simply doing this. Make dinner at home. Do yourself a favor. Treat yourself to a candle-light dinner every now and then. Ask your husband or boyfriend to help you. This will do you a great service.

Rent DVD's

Instead of going to the movies, rent a DVD. This is a lot cheaper than spending money for a ticket and buying movie food. Besides you can see the DVD whenever you like. Movies are costly so do yourself this favor and save money. You can even go to the library and rent them for free.

Cancel Landline Phone

Cell phones have become the common communication device. If you can, get rid of your land line phone. It is waste of money. Your cell phone provides you with more advantages anyway. You don't need two phone bills. This will save money.

Telecommute

Ask your employer if you can telecommute. If you can, this will save you a ton of money during the week in transportation cost. As long as you have a working computer with Internet access, a printer and fax, you should be able to do most of your work from your home.

During a recession, it is wise to find ways to stretch money. Opportunities are all over. It is up to the individual to make a way for it to happen. When times are difficult, a person must be aggressive and conserve money where they can.

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