You may be one of the fortunate ones who has not been touched by the recession or may have recently received a fabulous job where you are making more money than you have ever made in your life, if this describes you then you might want to consider the following tips.
Saving money, making money, and finding ways to make more of it is the name of the game as you very well know. But oftentimes sudden financial storms will come and shake the foundation you have spent years building. Partners turn ugly, children cry more, and relatives don’t like sharing their money. When the financial storm comes, and it will whether young, old, rich, poor, black or white, you will want to be prepared.
One. Save the samples and extra items that come with restaurant meals, cosmetic kits, frozen foods, and other places such as: condiment packets, sauces, shampoo, conditioner and others. When a financial problem strikes at least you won’t be eating homemade fries without ketchup or washing your hair with bar soap.
Two. Buy more than one of anything especially if it is on sale.
The sudden nature of financial problems can shake anyone up; therefore, you don’t want to get caught with no meat in the refrigerator, no shaving cream, and even worse no toilet paper. If it’s a product that’s less than $5 and they are offering two for the price of one, get it!
Three. Buy the items you use daily and weekly in bulk.
You may be fortunate to live near a store that sells items in bulk. If so, you will want to be sure that the price is right (research online first) then you will want to look at which brands will give you more for your dollar without skimping on quality. For example, you may see that a certain brand of garbage bags in bulk may have a great price, but they aren’t very strong. However, a few dollars more you can get a name brand in bulk that will last for six or more months.
Four. Research price of items on things you really need (or desire if you can afford them) and don’t put off any longer.
When financially difficult times come, they are sudden. What makes many people resentful and angry toward one another during this time is wishing they “could have, should have.” Buy what you need and desire for the house, car or something else now rather than later. People will say, “If I knew this was going to happen I would have…” It’s too late for all that talk when you are broke. The things most poor people do is hope, pray and save until their financial storm passes, but it isn’t easy when you are thinking of the times you wanted something and had the money for it, but talked yourself out of it.
Five. Stop buying video games, DVDs and CDs at retail prices, but don’t buy them with defects either.
Yard sales, thrift stores, trade stores, cheap online stores, and discount stores have entertainment media often on sale. why pay $15 for a CD, $20 for a DVD, and $60 for a video game? If the stores don’t have an old title for a reasonable price, you may want to watch for the movie to come on cable and copy it for your pleasure.
What usually happens to people who have had their cable TV or Internet cut off is they become irritable. However, if you stocked up on all the media you like now, including audio books, at least you can escape from hard times at least for a little bit without wishing you had bought this movie or that game.
Sometimes wholesale distributors or those posing as one have many titles for cheap and don’t require you by any minimums. All media is saleable when hard times come, so you will not only be entertaining yourself, but you will have an extensive inventory to sell in the future. However, keep in mind that most media, particularly video games, that once cost $40, $50 even $60 will only be worth between $2 and $20 a year later and even less the following year.
Six. Stock up on batteries.
As strange as it sounds this is a very important tip. You know what it feels like when your batteries die when you are using your favorite or most treasured tool – it puts you in a bad mood, but you know with money in your pocket or purse you can just go to the store and buy some batteries when it’s convenient, right? Well the poor, broke and busted person has to wait for their next paycheck, borrow batteries from another item or go without since they aren’t a priority. If you stock up on batteries now, you won’t have to hear the children’s cries when their toy stops working, the cussing from an adult in the bathroom trying to trim their hairs, or someone downstairs throwing the remote because it isn’t changing the channels fast enough.
Seven. Stock up on can goods.
People usually don’t think too much about getting a large box of can goods, but think of how much money you can save! Those individual cans can be a rip off charging anywhere from .79 cents a can to almost $2!! You can find boxes of vegetables, chicken broth, beef broth, and fruit in cans at stores that sell in bulk.
Eight. Watch the price of meat and stock up.
Wise people look at the circulars in the mail like young people look at teen magazines. The wise can tell you what a good price for meat is and what a rip-off is. If you are lucky to have a wise person around you who knows a bargain price of a good piece of meat then take a lesson or two from him or her.
Nine. Set your bank account up with a savings account.
Set the amount you want to save and have it automatically transfer to your account. If the amount is something you can afford and wouldn’t really miss, you will be glad to see that money when the financial storm comes.
Ten. Buy domain names and establish websites.
More and more gurus are telling their students to register a domain name and build a website. It makes sense considering that if you are business savvy, you could not only be making money offline, but online too for yourself. People have been known to sell a website and a domain name for extra cash. Talk with someone knowledgeable in the business.
Eleven. Join opportunities that will make you residual income.
There are businesses that will give you a cut of their profit week after week because you made an initial investment whether you obtained customers for them, sold products, or offered your service. Seek these businesses out and join. However, always check the Better Business Bureau and Rip-off Report.com first to see what others have to say about the company.
Twelve. Invest in marketing your business.
Many people abandon their small businesses to focus on their jobs, but that is the wrong thing to do especially with the job market changing from one day to the next. Put aside money each pay for marketing your business. You may not have the time to post classified ads or talk to people in forums; hire a young person like you would a babysitter to help you out with your efforts.
Thirteen. Collect anything that appreciates over time.
Perform a search online to see what collectors find most enjoyable. From coins to dolls from early childhood, collectors will pay top dollar on treasures that bring back good memories. Find old things in great condition with minimal wear and tear and start collecting. By doing this you will be able to sell off your collectibles in time to gain extra cash.
Fourteen. Save change.
Coins can be stored in fancy jars or old cans but whatever you do – save them. Empty your pocket or purse out every time you come back from a store. These coins should never be spent unless you lost a job; your check will be delayed or other unfortunate circumstances. If you find yourself going into the cookie jar for silly things like purchasing a snack or drink at the local store, you will be sorry later on when you are in dire need.
You may know someone who has been through some hard-times and others that may be currently going through them. Let their unfortunate circumstances be a lesson to you, prepare for the financial storm ahead. It catches us by surprise, it breaks up relationships, it causes people to lose their homes, and it makes people suicidal, it makes others run to church, being in a financial storm is difficult. But if you are wise like the ant, you and your family will come out ahead.