by Laurie Childree

Created on: June 28, 2010

A recession might mean that the overall economy suffers but it doesn't have to mean that your personal savings suffers. You can manage to keep your savings in tact and even increase it during a recession. You just have to make a few adjustments to your lifestyle and remain focused on the end goal.  

Set a Goal for Savings

You have to begin by setting a goal for savings. Even a small goal is better than no goal at all. Goals can be increased gradually. You can start with a goal as small as saving $5 a week and making it a challenge to yourself to see how much more than that $5 a week you can save. There has to be a plan in place to save that money. There can be too much detail in the plan that you create.

Change Jars

You don't need an actually piggy bank to save money any jar will do. Carrying cash with you to pay for your purchases means that you get change back. Stop spending your change and place it in a jar. When the jar gets full you can roll your change and put it into savings. Checking the couch cushions will usually find a good deal of change that has fell out of people's pockets to add to your jar.

Recycling

You can recycle aluminum, brass, copper and even scrap metal for cash. Keeping these items separated in small bins and taking them off when you have a good amount of all of them will help you to increase savings. That old sink that you replaced is recyclable, so are those drink cans that people throw out of car windows. A walk down the road will help you find at least $1 that other people have thrown out. There are times when it'll give you even more money. 

Get Rid of the Luxury

Cable, Internet and more than one phone service are all luxuries. The dishwasher is a luxury as well. Filling the sink with hot soapy water to wash them and hot water to rinse them will use less water and electricity which will reduce the amount of money that you spend. Electric and gas clothes dryers are luxuries. Hanging clothes out to dry only cost you a small amount for rope and clothes pins. 

Second Hand 

Purchasing some items second hand can save you money. Avoiding the purchase of things that you don't need will help you save a lot. The things that you absolutely have to have such as clothes can be bought second hand. New clothes to work in the yard is a waste of money anyway. 

Little things like setting savings goals, eliminating luxury and buying items second hand will go a long way to boosting savings. Finding ways to earn additional income will help a great deal as well.

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