Saving Money!

Gone are the days of excessive spending, with people spending at every opportunity. Now people are saving because of job insecurity, job and investment losses and business closures.

It’s a direct reaction to the recession with 93% of Americans saving. They are saving by developing the following habits:

1. Gratification management: People are waiting till something is on sale to buy.

2. Private label experimentation: People are buying store brands instead of name brands because they don’t want to pay for the brand name, the company’s huge advertising budgets, prestigious offices and over paid CEOs amongst many other things.

3. Cooking from scratch: People are avoiding pre-prepared foods, prepared foods and eating out, which are all expensive. Many now buy raw foods, cook at home and brown bag it.

4. Using loyalty cards: Many are now using store loyalty cards which often only give discounts to card holders to save money while shopping in the stores.

5. Extreme couponing: Many now save using store or manufacturer coupons. Some stores double or even triple the coupon amounts. You can also download coupons to your mobile device such as an IPhone or Blackberry, which you can show then show to the clerk at checkout.

6. Buying necessities: People are now buying what they need and will use only, instead of just buying to buy..

People realize that less is more and saving is good because it gives peace of mind. Not worrying about money builds confidence and self esteem.

Save for a rainy day. Choose to save!