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The economy today is in a terrible state. Many people are losing their jobs, houses and way of life. Investments are suffering and bankruptcy claims are on the rise. When I hear their stories of hardship, I feel horrible for these families and what they must be going through. However, I'm also grateful for the first time in my life that I am in the lower working class group.

Although no one is immune to the financial decline, one good thing about being a low income individual is that a lot of the pleasantries that many people, once accustomed to, have lost, I never had. Although, I've always made do and was able to support my children, and myself, there was very little left after the necessities were taken care of. I have spent my entire adult life up to this point, clipping coupons, buying no name items, shopping at thrift shops and getting by with very little, that this economic downfall has not affected me much. I just now seem to have a lot more company.

My lessons began over ten years ago when I found myself a young single mother of a newborn. I believe at that time my monthly income was about $800 a month and my rent took up more than a half of that amount. It was overwhelming learning to do without, but not impossible. Here are some tricks that helped me survive back then.... and I still use to this day. I credit these tricks and plain self-determination for keeping my head above water.

WRITE A BUDGET and stick to it at all costs. I suggest doing this on a monthly basis, even if your income and expenses seldom change. It's helpful to get in the habit of looking over your budget on a regular basis and reflecting on your situation. If you find that you're often in the red, see what you can cut out to reduce your spending. Is call waiting really that necessary? Could you try coloring your own hair instead of spending so much at the salon? Items that are quite small can add up quickly and once eliminated can make your budget seem much healthier.

USE COUPONS! They are free, companies pay money for you to be able to use them and clerks at the stores are accustomed to receiving them. You can save plenty and reduce your shopping bill considerably. Don't go overboard though. Only use coupons for products you were planning to buy anyway. Many coupon packages are delivered to you through the mail so don't discard them as 'junk" mail immediately.
NO NAME PRODUCTS are usually just as good as their more expensive counterparts so stop wasting your money on the fancier packaging.

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