How To Save Money Even During a Recession

Saving money in these difficult economic times can seem as strenuous a task as paying for fuel and groceries; however, there are a couple of things anyone can do to help them build savings.

1. PAY YOURSELF FIRST:
   
   We have a rule in our household that we follow faithfully: pay yourself first. Each week, we deduct a percentage of that week's salary and place it into savings. Following that percentage outtake, in addition we place twenty-five dollars ($25) into a Christmas Club account.
   
   By doing this, we accumulate savings at a fairly rapid pace. And because we do it regularly, we have learned to live without a portion of our salaries. Also, by preparing for one of the most expensive times of the year (Christmas), we have eliminated the possibility of busting our budget when it rolls around.
   
   Essentially, we have trained ourselves to live on less than we make. This is a very important rule to follow if one is ever to build wealth.
   
   Many companies offer their employees the option of having a portion of their pay directly deposited into a savings or Christmas Club account. If your company is one that offers such a service, use it. Not only does this take care of business for you, but it also eliminates the possibility of not following through on your personal commitment.
   
   
2. TAKE CARE OF YOUR PENNIES AND YOUR DOLLARS WILL TAKE CARE OF THEMSELVES
   
   This was a favorite saying of my great-grandfather, who stuck with this philosophy even through the Depression.
   
   What exactly does it mean? Simply put: drop your change in a bucket and before you know it, many dollars will have accumulated.
   
   So often, people are quick to just toss change aside. Change is nothing more than smaller portions of the dollar and, when combined, can add up to several dollars.
   
   Every evening, my husband and I place our change into a medium sized gold fish bowl. We never touch that change. Once it is filled to the brim, I cart it off to the bank to have it counted. On average, we are able to deposit $200 from this little fish bowl.
   
   I also follow another rule: I pay with paper money only. I never count out change to accompany my bills. Using this method, I'm guaranteed to get return change; thus making a contribution to our "fishbowl savings."
   
   
3. USING GOOD OL' FASHION COMMON SENSE
   
   The methods I mentioned above are the best two methods to get someone in the habit of saving versus spending. Yet there is so much more a person can do on a daily basis to build wealth. Most often, it just takes good old fashioned common sense; such as creating a monthly budget and assigning every dollar a task, using coupons on products that you use frequently, combining errands into one large trip versus several small trips, and more.
   

Saving money is not an impossible task. However, it is one that takes dedication, willingness and discipline; but the sense of pride one has when reaching their savings goal is a reward worth far more than the dollar!