Coming Recession? How to Save Money With a Recession

With the coming recession and as prices continue to rise on everything from gas to food people find it harder and harder to save. As consumer debt rises like a run away freight train, according to current government reports, people need answers.

If you could save $10 a day imagine what that would mean to your monthly budget. At first saving $10 a day may not seem like much, but that adds up to $300 a month or $3,600 a year. That's like having a part-time job without having to work ... But better! Saving $10 could make the difference between a person surviving a economic recession.

Saving $3,600 is as good or better than earning $3,600. Why? Because it's tax-free that's why. So, anything you can do to save money of your purchases or monthly expenses is like getting a tax-free raise. This is especially important in a recession. American debt continues to rise and statistics for saving continues to shrink as the economy tightens.

Here's Ten Ways to Quickly Save $10 a day

1. Evaluate Your Needs vs. Your Wants.

One of the biggest mistakes most people make when attempting to save money during a recession is not knowing the difference between needs and wants. Before you take your next shopping trip or plan your next monthly budget, sit down and list your needs.

A is need is what you must have to physically survive. A want is a convenience. In the this technology age it's growing harder and harder to distinguish between needs and wants especially if you're under the age of 30. Most people would consider a remote control, microwave oven or cable TV a need. But would you believe over 70% of the worlds population survive without them everyday?

2. List Your Needs in Order of Priority.

One of the keys to saving at least $10 a day is to focus your spending or saving on what's most important. Where most people fall off the wagon is when they take their eyes off their spending or saving priorities.

3. Establish Your limitations.

This is an important step. Many people make the mistake of not establishing limitations on what they plan to spend. As a result, they overspend or buy products or services they're not satisfied with.

4. Research Before You Shop.

With the internet this is quickly turned into one of the easiest ways to save money in the history of mankind. With the click of a mouse you can quickly and easily compare prices, rates and services. But it still shocks me how many people neglect using this important money saving tool. The other surprise is of the few people who do use it save money, use it in inefficient ways.

5. Learn How To Use Online Auctions.

If you haven't learn how to shop or at least comparison shop using online auctions your wasting money, time and most important savings. There's a reason why online auctions are one of the fastest growing ways to buy online ... They save people time and money.

6. How to Get More Gas For Your Money.

With gas prices looming at record levels with no end in site it's important to get the most for your money. Here's a simple tip most people don't know. Put gas in your car early in the morning, you'll get more fuel per dollar. Why? Because as the day warms up, gas already in your tank expands (foams up) causing you to get less per gallon of gas. This tip works even more in the summer.

7. Five words that will save you thousands of dollars this year.

Pause five seconds and ask yourself this before you buy. "Do I Really Need It?" I've personally save thousands already this year doing this.

8. How To Get Into The Saving Habit.

Contrary to popular belief, it's not just your income or expenses that can keep you from saving. According to government research, it's developing the habit of saving. Try to save a portion of your income each payday, even if it's only a $1 to begin with.

9. Try This The Next Time You're Tempted to Overspend.

Before you buy that expensive product, ask yourself "Can I make do with what I have a little longer"? You'll surprise yourself how many times you'll say yes - and the amount of money you'll save. If nothing else, asking yourself this question makes you stop and think longer.

10. Learn to Appreciate the Little Things in Life.

A chirping bird, a glowing sunset, the aroma of fresh bread baking or friendly laughter. Appreciating the simple things in life helps us cope with life's trials and difficulties. Plus it's free and can last a lifetime. What a bargain!

If you can learn to appreciate what you have, you're already rich. If you can't, you're that much poorer no matter how much money you have in the bank. For example do you think any rich people laying in hospital beds writhing in pain tonight would trade there wealth for health?

The ability to appreciate what you have will instantly free you from the "have to have it now attitude". The "have to have it now attitude" has fueled the largest consumer debt and the least consumer savings in history.

As you apply these 10 tips you'll find yourself quickly and conveniently saving at least $10 a day almost without noticing it.

Notice I didn't suggest eating beans and scrambled eggs, sewing your own clothes or any other painful or radical suggestion. Why? Because saving money is more of an attitude in this new economy, not having to turn into a penny-pinching tightwad.

As income continues to fall behind the growth rate of the cost of living, bringing on an economic recession, I'll bring you more solutions. The best way to reduce the economic gap will come from learning to save money with these tips. Now you know.