Monthly Article

Money-Saving Tips for Troubled Times
Believe it or not, some good has come from the current economic downturn. Whether directly or indirectly affected by the economic woes, most people are taking a closer look at their spending habits and cutting back on unnecessary spending. Fortunately, getting organized provides a way to save money as well as time and space.

The following tips will focus on keeping more money in your wallet and less clutter in your closets:

• Store like items together. Do this step if nothing else. Put all spices in one cupboard, office supplies in one cabinet, and black shirts on the same rack in your closet. One client was shocked to discover three separate warehouse-sized containers of black pepper scattered throughout her kitchen. Keeping like items together allows you to see what and how much you have.
• Use what you have. Is there something that you could use (and use up) that would work just as well? Can you make dinner with what is already in the cabinets? Could you use up that basket of lotion before buying more? Would that empty box store paper? Don’t deprive yourself; just get in the habit of checking what you have before buying something new.
• Make a list before shopping for anything. This includes groceries, office supplies, craft items, clothing, and especially warehouse and discount store items. Storing similar items together makes list-making easier. Since buying what is not needed wastes money and time, keep a list in a central place (like the kitchen) to write down items as you run out. Shopping with a list also reduces impulse purchases, which gradually eat away at your wallet.
• Keep your coupons accessible in your purse or car. Use an envelope to keep them together and check them periodically for expired ones.
• Return items that are not needed, used, or liked. No one is the perfect shopper. Even with a list, I’ve brought home some things that didn’t fit the way I thought, go with what I already had, or get used. I return those items as soon as possible. You can return groceries (as long as they are unopened and not expired), home-improvement supplies, office items, craft supplies, as well as clothing. Most stores require a receipt, but many will offer store credit (gift card) instead.
• Don’t buy more than you’ll use. If you buy a large amount of the same item weekly (and have plenty of storage space), warehouse stores offer great deals. Otherwise, it actually may be less expensive to buy a smaller package, especially if you have a coupon. Bigger is not necessarily cheaper.
• Resist the urge to buy something just because it’s on sale. I know, we all love bargains. But those $200 boots for 60% off aren’t a bargain if they sit unworn in the back of your closet because they don’t match anything you have. Return them, get your money back, and save yourself some guilt later.

Being aware of what you already have and conscious of your purchases translates into more money in your pocket and less clutter in your closets. Before the holiday season begins, take a little time to look at what you have. You may be pleasantly surprised at what you find.

© Renee Ursem, 2008.

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