Recessions come and go. Recessions have been the blight of man for centuries, and run on an approximately ten-year cycle. However, the credit crunch of 2007 is still with us in 2012. This recession is probably the worst economic downturn since the great depression of the 1930’s.
On both sides of the Atlantic there have been economic casualties and many of people have fallen on hard times. During a period like this most of us need to re-examine our finances and make budgets according to our income which may be dwindling.
What can we do to make our hard earned income go around further? One of the fasted growing expenses in recent years is fuel. If it is possible to use the car less will make a real difference on how far your weekly budget will go. If it is possible to walk or cycle to work will save dollars.
Gas and electric has also been rising rapidly in recent years. Turning down the central heating by just one degree will save money. Do not leave lights burning in rooms unused. These small measures will not change your lifestyle any but will make a real difference to your quarterly bills.
Can one do without a landline telephone? Mobile phones are so good and efficient these days that unless one uses the land phone for the Internet for many of us it can go. This will save serious money over the year and will be one bill less to worry about.
If one has a mortgage, look around for a better deal. In these competitive days banks will climb over each other for your business if your mortgage is in reasonable standing. One percent off of your monthly repayments will make a big difference at the end of the year.
The same is true of house content and car insurance. Indeed any kind of insurance. It isn’t advisable to simply renew your old policy without first looking for a better deal. By checking for a cheaper deal again can save you hundreds of dollars at a time when each dollar counts.
If one has savings, then no doubt one will be aware that the interest is very low at the present time. Nevertheless, looking for a better deal can possibly add one or two percent annually to your savings. This amounts to real money.
Lastly, don’t forget to ask the boss for a raise. You may not get one, but nothing has ever been lost by asking.