Jul 23, 2008 - The U.S. is currently experiencing the biggest hike in the cost-of-living increase since the early 1990s. In response, many consumers are modifying their behavior at a pace not seen since the 1970s. As home prices have steadily fallen in recent years, consumers in the U.S. are feeling poorer as they watch their main asset slide in value, along with their net worth. Here are a few tips offered by weseed.com’s Jennifer Openshaw recently on an appearance of ABC’s Nightline.
1) Take in a Border/Rent out a Room
could increase your monthly income by $300-$700 per month
ask people you know for tenant referrals
run a background and credit check on all prospective tenants
2) Make Coffee from Home/Don’t Buy Bottled Water
avoid an expensive latte or cappuccino buying habit
use tap water or filtered water
3) Transportation
take public transportation as much as possible
ride a bike – dual benefit of cutting fuel expenses and getting exercise
buy a motorized two wheel vehicle - reduces fuel expenses and cuts insurance costs
4) Use a Programmable Thermostat
heat and cool your home only when you are home or shortly before you return
could save up to 30% on your energy bill
5) Eating & Dining Out
eat at home as much as possible
pack your own healthy lunch from home
split an entrée when eating out at a nice restaurant
6) Bundle Your Connectivity Services (cable, phone, DSL)
get a flat rate
use an internet phone service
7) Cut Back on the Credit Cards
use only one card – ease of tracking expenses
ask for a lower rate , you may be surprised by how easily they say yes
8) Shop, Study & Swap Online
save money on gas by shopping from home
take courses online rather than driving to a campus
barter whenever possible by swapping goods
9) Get a Library Card
rent DVDs, videos, CDs and books for free
look into online services and databases available for free with your library card
