On the weather front, we've made some significant strides towards handling winter. We installed all new windows to upgrade our home into 21st century standards. No more plastic shrink wrap to put up and pull down. Not only is this a huge improvement cosmetically, but we are already noticing some significant cost savings over our old drafty windows. Secondly, we have gotten our home insulated recently.
Some other common ideas we've implemented for our home involve the use of a programmable thermostat. Settings allow for temperature thresholds for certain time periods. They are flexible enough to recognize separate weekend settings too.
On the financial storm front, it seems as though this has already been going on for quite a while and my initial rationing and preparations need an overhaul for what now seems to be a worsening and prolonged situation.
Despite all the news announcing corporate layoffs (big and small), financial bailouts, credit card crunches and general rising unemployment, I'm pleased to say I am still employed full time. Perhaps I am lucky, or perhaps I'm on borrowed time; we'll see.
Either way, cost cutting is being deployed by not only businesses but by households as well. Here are some of the cost cutting measures I have either done already or will be doing in the immediate future:
1. Look at your "nice to have" monthly fixed expenses:
- Re-financed my home to take advantage of significantly lower rate
- I've bundled my home phone, internet and television services to one provider for an overall reduced rate
- Trimming down the number of paid for channels or reducing internet speed packages
- Trimming down Cell phone packages to lower minutes per month, or use of family plans
- Turn your heat down when not at home or layer clothing
- Shorter showers to save on hot water heating costs
- Turn lights out when leaving rooms
- Turn off surge protector power-strips that are connected to computer equipment or entertainment units when not in use
- Grocery store
- buy in bulk
- Try wholesale clubs for staple items like toilet paper, shampoo, soap, etc.
- clipping coupons
- buying items when on sale and planning meals around those ingredients rather then meals dictating your shopping
- use the grocery store loyalty cards - the savings can be significant and some offer gas discounts on top of grocery bill savings
- Recycle more versus throwing things away to reduce the frequency of garbage pick ups or take your trash to the transfer station yourself.
- Dining out
- Try inviting guests over for dinner, cooking meals at home in general often costs less, especially where cocktails or wine is involved. If the offer is reciprocated, you'll still have evenings out for half the cost
- Perhaps your dog doesn't need to go to doggy day care everyday
- Try every other day or every two days
- Take your dog for walks and get the benefit of exercise while you're at it!
- Go for a hike versus go to the movies
- Learn to sew and mend clothes with missing buttons, fixing hems, etc.
- Sell any items that are taking up space in attics, basements, garages
- Stay-cations, look for smaller scale vacations or getaways that are more local to avoid high travel costs
- luxury items can wait
