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Posts Tagged ‘money management’

You have to study the Forex market conditions in order to be successful in Forex trading and make huge amount of money from it.

Get proper education about the market, this will enable you to pick up different market strategies. Don’t forget that Forex trading markets are the largest market in the world where instantaneous exchange happens, thus it is to your advantage if you can thoroughly review every angles and possibilities before performing the trade.

Learn from other professional forex traders and take every trade that you make as an opportunity to learn new techniques.

Having the right mindset is important in Forex trading. You have to learn how to gain positive returns on invested capital. Some traders concentrate on how they are going to make money rather than having their returns. So, you have to educate yourself about building your wealth via consistent returns is beneficial.These are the 5 important factors to succeeding in Forex trading:

1.    Forex Trading System

These are the 3 essential elements that a good Forex trading system should possess:

•    Money management

•    Risk management

•    Proper execution on the entry and exit market points.

A Forex trading system that is well established can sustain draw backs caused by market fluctuations and at the same time retain the consistent returns of profits. All Forex traders should master this secret equation. Always stick to the system which gives greater chances of earning big money.

2.    Money management

To succeed in Forex Trading it is important for you to know how to manage your money. You must be able to prevent financial hazards so as to increase your chance of becoming successful.

Avoid going into a trade that can wipe out your assets and ensure that you have enough fund in your trading account. The amount of fund should be something that you can afford.Always start trading in small amount and minimize loses by using stop loss orders, this will help to make sure that your first Forex trading is not your last.

3.    Study Market Levels

Study market levels, buying currencies at lower prices that not necessarily enable you to sell it on higher prices. All traders will be taught about discipline. Price behaviors are also learned consistently since it can change suddenly. Traders are usually taught how to handle such situation.

4.    Keep emotion out of the equation

You have to learn to detach yourself emotionally when trading forex, you have to always act rationally so that the outcome of the trade will not be affected or altered. You must have a clear mind to make good decision when entering or exiting a position.

5.    Get acquainted with the environment

This is important for newbies to the Forex trading market, it is a dynamic market that can see many changes in a day, thus always get properly acquainted with the Forex trading environment before plunging into the Forex trading business.

Although it is the best way to make huge amount of money but success in Forex trading is reserved for those who seriously study the Forex market conditions.

Get proper education about the market, this will enable you to pick up different market strategies. Don’t forget that Forex trading markets are the largest market in the world where instantaneous exchange happens, thus it is to your advantage if you can thoroughly review every angles and possibilities before performing the trade.

Exchange your experience with other traders and learn from them, and you should take all trades as an opportunity to learn new techniques in forex trading.

It is important that you possess the right minset when trading Forex; you have to learn how to gain positive return from your invested capital. Some traders concentrate on how they are going to make money rather than having their returns. So, educate yourself about building your wealth via consistent returns is beneficial.These are the 5 important factors to succeeding in Forex trading:

1.    Forex Trading System

These are the 3 essential element of a effective and profitable Forex trading system:

•    Money management

•    Risk management

•    Proper execution on the entry and exit market points.

A well established Forex trading system can sustain draw backs from market fluctuations and retain consistent profit generation. All Forex traders should master this secret equation. Traders will always stick to the system which gives them greater chances of earning larger amounts of money.

2.    Money management

To succeed in Forex Trading it is important for you to know how to manage your money. You must be able to prevent financial hazards so as to increase your chance of becoming successful.

You should make sure that you have enough fund that you can afford in the trading account and avoid going into a trade that can wipe out your assets.Starting small and having a stop loss order is one way to make sure that you can continue trading, this way you are sure that your first Forex trade is not going to be your last.

3.    Study Market Levels

Study market levels, buying currencies at lower prices that not necessarily enable you to sell it on higher prices. Traders must learn to be disciplined. Price behaviors are also learned consistently since it can change suddenly. However traders are taught how to handle such situation.

4.    Keep emotion out of the equation

In order not to affect the outcome when you are trading Forex, you must detach yourself emotionally from it and always acti rationally. You must have a clear mind to make good decision when entering or exiting a position.

5.Acquaint yourself with the environment

If you are new to Forex trading you must get acquainted with the Forex market environment and get familiar with it before jumping into the Forex trading business.

Economic downturns aren’t ever especially fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Although none of us can say for sure when this most recent slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Internet now, not as many of us seem to have gotten into the habit of coupon-hunting on the Web. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at merchants across the Web.

 

2. Use price-comparison sites such as Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best deals online.

 

3. When you’re out at a store, send a text message to 46645 (Google’s number) and enter the letter “f” followed by the name of the product you’re interested in. Google will reply with a text message quoting its online prices. To compare prices at stores in your area, use ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s and buying in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing ballyhoo and not the products, anyway.

 

6. Withdraw your green from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-raised food at farmer’s markets or stores that sell local produce and meat. Prices there are often lower since the food doesn’t have to be transported very far.

 

8. Shop at dollar stores. You should have an easy time finding them nearby since they’ve been popping up all over the place recently.

 

9. Purchase discount prescription drugs at online pharmacies. You’ll often end up paying under half as much for the generic medicines carried by these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.

 

10. If your vehicle is seven or more years old and/or worth $2,500 or less, consider dropping comprehensive and collision from your insurance.  Your deductible may be approaching the worth of your vehicle anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.

 

11. Keep cell-phone expenses under control. Kids today love to text message, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messaging.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from used furniture to baby gear. By buying from local sellers, you can save on shipping costs too.

 

13. Go to matinees. Matinee showings are usually more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power consumption of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a pricy restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Add some zest with a bottle of wine.

 

16. Instead of buying software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of program, the free alternatives will frequently be just as good as the paid versions.

 

17. If someone in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in dozens of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re sleeping and away. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

Economic downturns aren’t ever much fun, but as Adam Smith noted over two centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of sparing your wallet in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Web now, not as many of us seem to have learned to coupon-hunt on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers all over the Web.

 

2. Use price-comparison websites such as Shopping.com, Pricegrabber.com, Google Product Search, and mySimon.com to find the best online deals.

 

3. When you’re at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” followed by the name of the product you’re looking at. Google will reply with a message quoting the online prices. To compare prices at stores in your area, visit ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s Club and buying things in bulk. This can be especially helpful if you have a sizeable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is usually in the marketing hoopla and not the product itself, anyway.

 

6. Withdraw your money from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-grown food at farmer’s markets or stores that sell local produce. Prices there are often lower since the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You shouldn’t have a difficult time finding them nearby since they’ve been popping up all over the place in the recent past.

 

9. Buy discount prescription drugs at online pharmacies. You’ll often end up paying considerably less than half as much for the generic medications sold at these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.

 

10. If your car is seven years old or older and/or worth $2,500 or less, consider dropping comprehensive and collision from your insurance.  Your deductible may be approaching the value of your car anyway, in which case a major collision would send your car to the junk yard and you to the dealership.

 

11. Keep cell-phone costs under control. Today’s kids love to text message, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messaging.

 

12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from vintage furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a pricy restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Spice it up a little with a bottle of wine.

 

16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the paid versions.

 

17. If anyone in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% off in scores of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re asleep and away. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.

 

19. Consider leaving your health club. More economical options might include a gym at your work, in your building or community, or at a nearby park and recreation center.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

Economic downturns aren’t ever much fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Although none of us can say for sure when this latest slump will reverse, there are at least sure ways of stretching your cash in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do some of our shopping on the Internet now, not as many of us seem to have learned to coupon-hunt on the Web. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers all across the Web.

 

2. Use price-comparison websites such as Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best deals online.

 

3. When you’re at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” followed by the name of the product you’re considering. Google will reply with a text quoting its online prices. To compare prices at stores in your area, visit ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s and buying things in bulk. This can be especially helpful if you have a large family.

 

5. Buy generic instead of brand-name products. A lot of the difference is usually in the marketing hype and not the products themselves, anyway.

 

6. Withdraw your money from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-grown food at farmer’s markets or stores that sell local produce. Prices there are usually lower since the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You shouldn’t have a hard time finding one since they’ve been turning up all over the place recently.

 

9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying less than half as much for the generic medicines stocked by these discount prescription drug stores than you would for the same brand-name medications at brick-and-mortar pharmacies.

 

10. If your car is seven years old or older and/or worth $2,500 or less, consider dropping comprehensive and collision from your insurance.  Your deductible may be closing in on the value of your vehicle anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.

 

11. Keep cell-phone costs under control. Kids today love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messaging.

 

12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from pre-owned furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. Matinee showings are usually more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power usage of your electrical appliances.

 

15. For your next date, have a romantic picnic instead of going to a high-end restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Add some color with a bottle of wine.

 

16. Instead of buying software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of program, the free alternatives will often be just as good as the paid versions.

 

17. If anyone in your house is a student, get the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in dozens of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will save energy when you’re asleep and away from the house. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.

 

19. Consider leaving your health club. More economical options might include a gym at your work, in your building or community, or at a nearby park and rec. center.

 

20. Reduce your water bill by installing low-flow showerheads and $1 toilet displacement bags.

 

21. When you eat out, choose waiter-less restaurants where you order at the register and pick up your own food. You’ll avoid paying a tip, and these types of restaurants often have more reasonable prices as well.

 

22. Buy used books. Major online book retailers offer a “buy it used” option, where you will often find books in like-new condition at substantial markdowns.

 

23. Have a friend or family member cut your hair. This works best for men and boys who like to keep their hair short and simple, because someone without any experience can do as good a job as a barber using a set of clippers. Professional clippers are sold in department stores for less than the cost of some high-end haircuts.

 

24. Swap babysitting responsibilities with neighbors. Instead of paying a teenager to surf the Net, send the kids to the neighbors’ place on your nights out and take their kids into your house for a few hours when they need some couple-time alone.

 

25. Replace your incandescent light bulbs with CFLs (compact fluorescent light bulbs). They use about 1/4 as much electricity, last about 10 times longer, and can now often be found on sale for only about $1 each if you shop around.

 

26. Use financial-planning software like Quicken or the free applications from Rudder.com.

 

27. Swap one-time-use items (such as books) with friends once you’re finished using them. If you each have things you’ll never use again but that the other wants, you can save yourselves the cost of buying them new.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

Economic downturns aren’t ever especially fun, but as Adam Smith observed centuries ago, these cycles of paucity and plenty are a fact of life. Though none of us can say for sure when this most recent slump will reverse, there are at least sure ways of sparing your wallet in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do some of our shopping on the Web now, not as many of us seem to have learned to coupon-hunt online. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at merchants all across the Net.

 

2. Use price-comparison websites such as Shopping.com, Pricegrabber.com, Google Product Search, and mySimon.com to find the best online deals.

 

3. When you’re at a store, send a text message to 46645 (Google’s text number) and enter the letter “f” and then the name of the item you’re shopping for. Google will reply with a text quoting its online prices. To compare prices at local stores, go to ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s and buying things in bulk. This can be especially helpful if you have a large family.

 

5. Buy generic instead of brand-name products. A lot of the difference is usually in the marketing ballyhoo and not the product, anyway.

 

6. Withdraw your green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-grown food at farmer’s markets or stores that sell local produce. Prices are often lower there because the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You should have an easy time finding one since they’ve been turning up all over the place in the recent past.

 

9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying considerably less than half as much for the generic pills available at these discount prescription drug stores than you would for the same brand-name pills at brick-and-mortar pharmacies.

 

10. If your car is seven or more years old and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be approaching the value of your car anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.

 

11. Keep cell-phone costs under control. Today’s kids love to send text messages, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messages.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are superb resources for finding everything you need, from pre-owned furniture to baby gear. By buying from locals, you can save on shipping costs as well.

 

13. Go to matinees. Matinee showings are often more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the power consumption of your electrical appliances.

 

15. For your next date, have a romantic picnic instead of going to an expensive restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself an inexpensive rendezvous. Add some zest with a bottle of vino.

 

16. Instead of paying for software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the paid versions.

 

17. If anyone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in scores of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re sleeping and out of the house. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.

 

19. Consider quitting your health club. More economical options may include a gym at your work, in your building or community, or at a nearby park and rec. center.

 

20. Reduce your water bill by installing low-flow showerheads and $1 toilet displacement bags.

 

21. When you eat out, choose waiter-less restaurants where you order at the cash register and pick up your own food. You’ll avoid having to pay a tip, and these types of restaurants often have more reasonable prices as well.

 

22. Buy pre-owned books. Major online book dealers offer a “buy it used” option, where you can often find books in like-new condition at substantial markdowns.

 

23. Have a friend or family member cut your hair. This works best for men and boys who like to keep their hair short and uninvolved, because someone with no experience can do as good a job as a barber using a set of clippers. Professional clippers can be purchased in department stores for less than the price of some high-end haircuts.

 

24. Swap babysitting responsibilities with neighbors. Instead of paying a teenager to watch TV, send your children to the neighbors’ place on your nights out and take their kids into your place for a few hours when they need some couple-time alone.

 

25. Replace your incandescent lightbulbs with CFLs (compact fluorescent lights). They use about 1/4 as much energy, last about 10 times longer, and can now often be found on sale for only about $1 each if you shop around.

 

26. Use personal-finance software like Quicken or the free offerings from Rudder.com.

 

27. Exchange one-time-use items (such as books) with friends once you’re finished using them. If you each have items you’ll never use again but that the other wants, you can save yourselves the expense of buying them new.

 

28. Use public transportation or a bike to get to work, if possible.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

Economic downturns are never much fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Although no one can say for sure when this most recent slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving techniques tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Web now, not as many of us seem to have learned to coupon-hunt on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers across the Web.

 

2. Use price-comparison websites such as Pricegrabber.com, Shopping.com, Google Product Search, and mySimon.com to find the best deals online.

 

3. When you’re at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” and then the name of the product you’re looking at. Google will reply with a text message quoting the online prices. To compare prices at stores in your area, visit ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s and buying in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing ballyhoo and not the product, anyway.

 

6. Withdraw your money from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-grown food at farmer’s markets or stores that sell local produce. Prices are usually lower there since the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You should have an easy time finding them nearby since they’ve been turning up all over the place recently.

 

9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying well under half as much for the generic medications stocked by these discount prescription drug stores than you would for the same brand-name pills at brick-and-mortar pharmacies.

 

10. If your car is seven or more years old and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be approaching the value of your car anyway, in which case a major collision would send your car to the junk yard and you to the dealership.

 

11. Keep cell-phone expenses under control. Kids today love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messages.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are great resources for finding everything you need, from vintage furniture to baby gear. By buying from locals, you can save on shipping costs too.

 

13. Go to matinees. Matinee showings are often more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a pricey restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some color with a bottle of vino.

 

16. Instead of paying for software, look for (legal) free software from places like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will frequently be just as good as the paid versions.

 

17. If anybody in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and will get the holder 10% to 15% off in scores of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re sleeping and away. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.

 

19. Consider leaving your health club. Less expensive options may include a gym at your work, in your building or community, or at a nearby parks and recreation center.

 

20. Cut your water bill by installing low-flow showerheads and $1 toilet displacement bags.

 

21. When you go out to eat, choose waiter-less restaurants where you order up front and pick up your own food. You’ll avoid paying a tip, and these types of restaurants often have more reasonable prices as well.

 

22. Buy used books. Major online book sellers offer a “buy it used” option, where you can often find books in like-new condition at substantial markdowns.

 

23. Have a friend or family member cut your hair. This works best for men and boys who like to keep their hair short and simple, because someone without any experience can do as good a job as a barber using a set of clippers. Professional clippers can be purchased in department stores for less than the cost of some high-end haircuts.

 

24. Swap babysitting responsibilities with other families. Instead of paying a teenager to talk on the phone, send your children to the neighbors’ place on your nights out and take their kids into your house for a few hours when they need some couple-time alone.

 

25. Replace your incandescent light bulbs with CFLs (compact fluorescent lightbulbs). They use about 1/4 as much energy, last about 10 times longer, and can now often be found on sale for about $1 each if you shop around.

 

26. Use financial-planning software such as Quicken or the free programs at Rudder.com.

 

27. Exchange one-time-use items (such as books) with friends once you’re done using them. If you each have things you’ll never use again but that the other wants, you can save yourselves the expense of buying them new.

 

28. Use public transport or a bike to get to work, if possible.

 

29. When you need to upgrade your digital gadgets, trade the old ones in for cash at sites such as Gazelle.com and CellforCash.com.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

 

Economic downturns aren’t ever especially fun, but as Adam Smith noted over two centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of stretching your cash in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Internet now, not as many of us seem to have learned to coupon-hunt on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at merchants all across the Net.

 

2. Use price-comparison websites such as Pricegrabber.com, Shopping.com, Google Product Search, and mySimon.com to find the best online deals.

 

3. When you’re out at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” and then the name of the product you’re looking at. Google will reply with a text quoting the online prices. To compare prices at local stores, visit ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s Club and buying in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing hype and not the products themselves, anyway.

 

6. Withdraw your green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-sourced food at farmer’s markets or stores that sell local produce. Prices are often lower there because the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You shouldn’t have a difficult time finding one nearby since they’ve been popping up all over the place in the recent past.

 

9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying under half as much for the generic pills stocked by these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.

 

10. If your car is seven or more years old and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be closing in on the value of your vehicle anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.

 

11. Keep cell-phone costs under control. Today’s kids love to text message, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited text messages.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are great resources for finding everything you need, from used furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy usage of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a high-end restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself an inexpensive rendezvous. Spice it up a little with a bottle of wine.

 

16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of application, the free alternatives will often be just as good as the commercial versions.

 

17. If someone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in scores of participating stores.

 

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re asleep and away. Prices range from $30 to $120, but you’ll lower your bill by 10% to 20%.

 

19. Consider leaving your health club. More economical options might include a gym at your work, in your building or community, or at a nearby parks and recreation center.

 

20. Cut your water bill by installing low-flow showerheads and $1 toilet displacement bags.

 

21. When you eat out, choose waiter-less restaurants where you order at the cash register and pick up your own food. You’ll avoid having to pay a tip, and these types of restaurants often have more reasonable prices as well.

 

22. Buy pre-owned books. Major online book sellers offer a “buy it used” option, where you will often find books in like-new condition at substantial discounts.

 

23. Have a friend or family member cut your hair. This works best for men and boys who like to keep their hair short and simple, because someone with no experience can do as good a job as a barber using a set of clippers. Professional clippers can be purchased in department stores for less than the price of some high-end haircuts.

 

24. Swap babysitting responsibilities with other families. Instead of paying a teenager to watch DVDs, send your children to the neighbors’ place on your nights out and take their kids into your place for a few hours when they need some couple-time alone.

 

25. Replace your incandescent light bulbs with CFLs (compact fluorescent light bulbs). They use about 1/4 as much electricity, last about 10 times longer, and can now often be found on sale for approximately $1 each if you shop around.

 

26. Use personal-management software such as Quicken or the free applications at Rudder.com.

 

27. Swap one-time-use items (such as books) with friends once you’re done using them. If you each have items you’ll never use again but that the other wants, you can save yourselves the expense of buying them new.

 

28. Use public transport or a bike to get to work, if feasible.

 

29. When you need to upgrade your personal electronic devices, trade the old ones in for money at sites like Gazelle.com and CellforCash.com.

 

30. Don’t shop for groceries when you’re hungry. If you do, you’re likely to buy more than you actually need.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

 

Economic downturns aren’t ever much fun, but as Adam Smith noted over two centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of sparing your wallet in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do some of our shopping online now, not as many of us seem to have learned to coupon-hunt online. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers all over the Web.

 

2. Use price-comparison sites like Pricegrabber.com, Shopping.com, mySimon.com, and Google Product Search to find the best deals online.

 

3. When you’re out at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” followed by the name of the item you’re interested in. Google will reply with a message quoting the online prices. To compare prices at stores in your area, check out ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club like Costco or Sam’s Club and buying in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is usually in the marketing ballyhoo and not the products themselves, anyway.

 

6. Withdraw your money from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-sourced food at farmer’s markets or stores that sell local produce. Prices there are often lower because the food doesn’t have to be transported far.

 

8. Shop at dollar stores. You should have an easy time finding one since they’ve been popping up all over the place recently.

 

9. Buy discount prescription drugs from online pharmacies. You’ll often end up paying under half as much for the generic pills sold at these discount prescription drug stores than you would for the same brand-name medications at brick-and-mortar pharmacies.

 

10. If your car is seven years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be nearing the value of your car anyway, in which case a major collision would send your car to the junk yard and you to the dealership.

 

11. Keep cell-phone costs under control. Today’s kids love to text message, so save yourself from unexpectedly high bills by paying the flat monthly fee for unlimited texting.

 

12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are great resources for finding everything you need, from used furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. The matinee showing is frequently more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the energy consumption of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a pricy restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a low-cost rendezvous. Add some color with a bottle of vino.

 

16. Instead of buying software, look for (legal) free software from sites like Download.com and SourceForge.net. Depending on how you use a given type of program, the free alternatives will often be just as good as the paid versions.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.

Economic downturns are never especially fun, but as Adam Smith noted over two centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of saving your money in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

 

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping online now, not as many of us seem to have gotten into the habit of coupon-hunting online. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com offer thousands of current offers at retailers across the Net.

 

2. Use price-comparison websites like Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best online deals.

 

3. When you’re out at a brick-and-mortar store, send a text message to 46645 (Google’s number) and enter the letter “f” followed by the name of the item you’re interested in. Google will reply with a text message quoting its online prices. To compare prices at stores in your area, use ShopLocal.com.

 

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s Club and buying things in bulk. This can be especially helpful if you have a sizable family.

 

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing ballyhoo and not the product itself, anyway.

 

6. Withdraw your green from surcharge-free ATMs, which can be found on AllpointNetwork.com and MoneyPass.com.

 

7. Buy locally-grown food at farmer’s markets or stores that sell local produce and meat. Prices there are often lower because the food doesn’t have to be transported very far.

 

8. Shop at dollar stores. You shouldn’t have a difficult time finding them since they’ve been popping up all over the place in the recent past.

 

9. Purchase discount prescription drugs from online pharmacies. You’ll often end up paying under half as much for the generic medicines available at these discount prescription drug stores than you would for the same brand-name pills at brick-and-mortar pharmacies.

 

10. If your car is seven years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be approaching the worth of your vehicle anyway, in which case a major collision would send your car to the junk yard and you to the dealership.

 

11. Keep cell-phone costs under control. Today’s kids love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited texting.

 

12. Use online classifieds to buy used items. Sites like CraigsList.org and Kijiji.com are great resources for finding everything you need, from used furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

 

13. Go to matinees. The matinee showing is usually more reasonably-priced than peak-time showings.

 

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the electricity consumption of your electrical appliances.

 

15. For your next date, plan a romantic picnic instead of going to a high-end restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Spice it up a little with a bottle of wine.

 

16. Instead of paying for software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will often be just as good as the commercial versions.

 

17. If someone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and will get the holder 10% to 15% off in dozens of participating stores.

 

 

All rights reserved. Article may be reprinted as long as content remains unchanged and links remain active.