by S B BLACK

Created on: June 05, 2009

The last few decades have been a boom of buying, buying and more buying. All the necessities were easily covered and then we went out and bought some more. The thought of saving money or watching what was spent was not given much of a though. That has now come to a screeching halt. The current state of the economy has individuals and families watching were every penny is spent and looking for ways to save wherever possible.

One of the first things that should be done when looking to save money is to take a good hard look at where your money is going. Track absolutely every expense and decide what is necessary and what is not. Getting rid of some of the unnecessary can save a lot of money. Check your cell phones plans to see if there are options that you don't use. If you have cable drop down to the basic package and maybe think about getting rid of that satellite radio. Talk to your insurance agent about your coverage. Many plans offer discounts for multiple policies and good student rates for your children.

Now that you are down to the bare minimum on your necessities you can start looking at ways to save there also. Start with your grocery shopping. Plan your menus for the week, take stock of what you already have at home and make a list of the rest of the items that you need. Never go to the grocery store without a list and only purchase what is on that list. Be sure to check each brand to find the best deal. Many times the store brand is cheaper than the name brand and you won't notice any difference in the taste. If there are items that you use consistently, look at buying them in bulk, which is typically cheaper than that the smaller sizes.

When it comes to buying clothing, start at the second hand shops and garage sales. Many times you can find great bargains on nearly new clothing. This is an especially good idea for children as they grow out of their clothes so quickly. You should always keep in mind the items that you already have at home because it is very easy to get caught up in the low prices and buy more than you will ever wear.

One of the most important things to remember is to always think before you buy, especially when it come to big purchases. Sale signs sometimes get the best of us and it seems impossible to pass up a great deal. Never buy on impulse. The best thing to do is to walk away from it. Take time to decide if this purchase is a want or a need. Chances are after you have had some time to think about it you will have come up with more reasons that you want it than reasons that you need it.

Once you have become comfortable with your new way of spending it will be easy to find new ways to save. Now, start putting some of those extra pennies in your savings account and watch it grow.

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