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Extreme money saving

Extreme money saving
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When your finances hit rock bottom, drastic measures are needed. Virtually everyone in New Zealand can spend less. Sometimes a whole lot less.

The ideas below are radical. They’re not meant to last for life. Just until the crisis is over. You might, however, find that you build a habit that lasts much longer than the current predicament you find yourself in.

1. Move in with relatives. Rent is expensive and young people are moving home in droves to survive or save for a house deposit. Sometimes several generations move in together. If you can’t move in with family, then downsize to something cheaper.

2. Eat on $5 a day. You’ll probably be healthier if you do. For some ideas, check out these links. It works in New Zealand as well. One way to succeed is to find out more about freegans and how they survive.

3. Put all your kids in one bedroom. Yep. Double up in the bedrooms and rent out the rest of the rooms to flatmates or international students. Plenty of children share bedrooms. If needs must, yours can do it.

4. Put everyone on a personal budget. If you need to downsize drastically don’t just put the kids on a budget. Put yourself and your partner as well. People can become amazingly resourceful when they have to budget.

5. Don’t buy clothing. Look at your wardrobe. There must be clothing in there that could last 10 years. Simply say “no” next time you think you “need” something.

6. Buy second-hand clothing. Clothing is an incredibly expensive part of our budgets. Yet an item that costs $150 new can often be picked up from $5 to $10 second-hand. School fairs are great for rummaging through and finding amazing bargains. Once you’ve washed the clothing – no-one knows where you bought it.

7. Don’t go out. It’s hard. But stop going out anywhere that costs money. Visit friends at their homes or go out to totally free events.

8. Drink water not alcohol. If you do go out to the pub or event, just drink tap water. It’s better for you and costs a whole heap less. Some people pre-drink before they leave home. Likewise, at home, serve up water with meals and simply stop buying sweet drinks of any kind including juice. Milk is said to be good for growing children -serve this between meals.

9. Don’t renew subscriptions and memberships. Go to the library and read that magazine. Cancel membership for organisations you belong to – at least until you can afford them again.

10. Cut up your cards. You can’t spend money on a credit card if you don’t have one. Take cash out with you instead. What’s more, only take the cash with you that you need for that day.

11. Read cheapskate books and websites. There are hundreds if not thousands of ways to save a bit here and there by being clever. There are just about as many websites and books dedicated to frugal living. Watch those cents.

12. Avoid high roller friends. If you can’t keep up with the Joneses, don’t. Hanging out with high living friends can lead you to spend money that you just can’t afford to.

Finally, if you want some amusement, check out some of the extreme ways to save money on the Internet. Some really made me laugh – such as: “minesweep drinks on nights out”, “tell lost property you’ve lost something”, spend your days in the library to save heating your home, and pay visits to relatives at mealtimes.

Your say: do you know other drastic ways to save money?

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