With everything that’s happened in the economy in the past two weeks, there’s been a lot of buzz in the personal finance blogosphere and the news on the topic. Though the topic of tonight’s presidential debate is officially on foreign policy, the candidates have agreed to spend some time on the economy as well.
In times like these, the question on the minds of most everyday Americans is, “What can I do to protect my own finances?” In my opinion, the best thing you can do for yourself is spend less and start saving more. Today I’m sharing some tips from other personal finance bloggers on simple ways to minimize living expenses and cut back spending.
- Paul Michael at Wise Bread writes about separating your needs from your wants to minimize spending. This is the first thing you should do if you’re learning to live on less.
- Our Fourpence Worth shares an exhaustive list of 101 ways to save money in everyday life. It’s amazing how “tiny leaks” can add up to a bucket throughout the month. (Check out the fun design on the post, too!)
- Not Made of Money shares a great method of organizing your pantry stockpile. Stockpiling is a great way to take advantage of store sales a minimize grocery costs, but organization is key to making the most of this system. A cluttered, disorganized pantry can lead to wasted food and overspending.
- Lynnae at Being Frugal challenges herself to plan meals based on her leftover pantry stockpile once a month to clear things out. This is a great method for taking stock of your pantry and ensuring you’re not letting things go to waste. It can also be a good way to cut spending if you’re having a particularly tight budget week.
- Paid Twice discusses what to do if your current grocery budget (or other budget) isn’t cutting it, but you don’t have the extra money to increase it. It’s important to make sure your budget is constantly updated to reflect your current needs, but it’s also important to ensure you’re not increasing your budget due to unnecessary overspending.
I’m off to see what the candidates say about the economy. Happy Friday!