Save Money in a Recession

It's not always about what you make, but more about what you keep. Check out this article from Lifehacker.com with 10 tips on saving money in a lame economy.

Top 10 Ways to Save Money in a Recession

10. Get better at re-using your stuff

It's the kind of stuff that fueled your grandparents' stories about hard times: Stretching supposedly disposable, used items further than most consumer companies want you to; Using your mind—and your hands—to solve problems without jumping in the car and busting out the wallet. We suggest finding inspiration from how Lifehacker readers creatively reuse disposable items. Re-purposing isn't all about balled-up tinfoil and grimacing, of course. Our most popular re-purposing posts of 2008 show that a little thought and some creative tinkering usually pays off with a one-of-a-kind solution to household needs.

9. Cut your food costs

Full size

Other than shelter (rent) and water (also rent, or municipal bills), food is the one thing you have to spend money on every day. If you really want to hack down your bills, carnivores can save money by buying whole animals—a process that's easier than they might think. For a weekend kick, you can make your favorite chain restaurant recipe at home. Stay away from the high-fat cruft on dollar menus and switch to a cheaper, healthier Mediterranean diet or these twenty health foods for $1 or less. And for those nights when cooking a full, healthy meal just isn't in the cards, a "Microwave Diet" is a surprisingly nutritious fall-back.

8. Dress and look sharp with less cash

Full size

Let's not pretend you can look like a million bucks with $7 and change. What you can do is focus on taking a clean, elegant style and maintain and extend it without hitting the malls at all. The thrift-conscious J.D. at theGet Rich Slowly blog has 18 tips on smarter used clothing buys, whether as a staple or just a complement to your wardrobe. And, while the political hook is a bit, er, dated, we did consult with style-conscious types tohelp dress like a honcho with humble means. For everything else that isn't soap and a haircut, try taking on easy ways to look sharp, like de-cheap-ifying a suit, shaving with a straight razor, and using coat hangers to prove to yourself that, yes, you really do have something to wear. Photo bybrooklyn.

7. Start working for yourself (crazy as it sounds)

Even if you've invested in your paid-by-someone-else career, the layoffs just keep happening, leaving hard workers looking for their next gig. Assuming one's money is locked down, it can be surprising how much cheaper it is to start working for yourself—if the conditions are right. The self-employed route is one of the most common suggestions from our readers in response topost-layoff confusion, and if you don't have to pay for a commute, parking, lunch-on-the-go, daycare, or many other costs, freelance work might help you stem the losses, at least until you can land back on your feet. Everyone's situation is different, of course, and self-secured healthcare isn't getting cheaper, but we happen to know at least one certain blogger/developer who's taking a chance on working totally off the grid for 2009.

6. Cut the cable and get your TV free

When the nation-wide transition to all-digital, over-the-air television happens (be it Feb. 17 or later), anyone with an antenna will get digital channels for free (in fact, you may even get more channels than you were before). If you don't get great reception, or you like your television a bit more on-demand, there's never been more free programming on the web. Start with our six ways to catch your favorite TV shows, which covers the free market in all its forms, from official sites to BitTorrent. Next, check out Lifehacker readers' five favorite sites to stream TV for more inspiration. Looking for something that doesn't tie up your computer? Our ooh-shiny-savvy sibling Gizmodo has posted a great tutorial on taking a relatively cheap Apple cast-off, the AppleTV, and using the free Boxee software to spin it into a TV-streaming, download-playing, multi-media powerhouse.

5. Trim your cell phone costs

The economy stinks for you, but it reallystinks for providers of services that can easily be scaled back—like cell phone providers. On the one hand, they may fight harder to keep you paying for data plans, text messages, and other "value added" items, but they really, truly don't want to lose you as a customer. If you can't re-negotiate a better deal, though, take a tip from PC Magazine columnist Sascha Segan and cut your phone bill by actually jumping ship (to a pay-as-you-go phone), then let them come crawling back with a package pitch. Stuck in a contract with a huge cancellation fee? Check out contract-swapping sites like CellTradeUSA.com and CellSwapper.com, which make use of (legal!) trade clauses and might just help you escape your monthly vig.

4. Invest in your career

Financial guru Warren Buffett, as he so often does, said it best back in April, before the market fell: Unless you're going to make investment analysis a nearly full-time gig, you're better off spending your discretionary time in furthering your main career and honing your skills than surrounded by earnings reports and endlessly changing charts. It's the same reasoning SmartMoney's Jack Hough uses in explaining why renting might make more sense than buying, especially if you're not partial to putting work, time, and money into a place right now. Neither is a call to yank all your hard investments out and start a blacksmith shop (as appealing as some might find the idea), but they reason that the revenue-generating asset you might have the most control over is your career.

3. Trick yourself into spending less, saving more

Curbing spending, like cutting back on calories, is something any self-help-ish expert can and will tell you to do, with few details given. So you're left, just as with dieting, to come up with your tricks and techniques for teaching yourself to do and not do certain things. When it comes totricking yourself into saving money, we like the kind that you don't need much to start out doing, like Merlin Mann's Crap I Just Don't Need.txt file, in which he captures all his do-wants and must-haves, as if it were a wish list, but ends up checking it every so often to see just how well he's gotten along without all those things. High-speed, low-drag spending psychology. Photo by Darren Hester.

2. Get serious about Craigslist

Craigslist is a website built for an economy that's scaling back to basics. People looking for extra cash divest themselves of stuff they don't really need, and those who need to spend less snatch up their stuff. If you're on either side, it helps to have the right tools. Get savvy with your selling by digesting Adam's seller's guide to Craigslist, and on the flip side with our Craigslist tips for power users. Hone down on exactly what you're looking for (time is money, after all) with thepreviously mentioned Craigslist Image Preview extension, or the image mashupMyWiseBunny.com (formerly CLHack.com). It can feel harsh grabbing up deals when you know times are tough, but to many sellers, the buyer who actually pays is worth more than some future ideal of better times.

1. Reduce your bills by simply asking

Full size

One of the most effective means of shaving money off your monthly costs doesn't involve a website, coupon code, or any kind of hack, unless you count working up the small courage required to just, well, ask. Our weekend editor Jason found deals on his internet package, gas bills, household insurance, and even trash disposal, just by being persistent and, in most cases, simply asking if there was a deal he didn't know about. Read his tips on reducing by asking, then down the last of your coffee and get on the horn. Photo by WoodleyWonderworks.

Where have you found unexpected savings or earnings in recent months? What's your plan for cutting back or cashing in if the downturn continues? Share your story in the comments.

Times are tough, money's tight, and nobody should be spending more than they need. If you think you've exhausted all avenues for saving a buck, check out our ten suggestions for saving money in a recession.

10. Get better at re-using your stuff

It's the kind of stuff that fueled your grandparents' stories about hard times: Stretching supposedly disposable, used items further than most consumer companies want you to; Using your mind—and your hands—to solve problems without jumping in the car and busting out the wallet. We suggest finding inspiration from how Lifehacker readers creatively reuse disposable items. Re-purposing isn't all about balled-up tinfoil and grimacing, of course. Our most popular re-purposing posts of 2008 show that a little thought and some creative tinkering usually pays off with a one-of-a-kind solution to household needs.

9. Cut your food costs

Full size

Other than shelter (rent) and water (also rent, or municipal bills), food is the one thing you have to spend money on every day. If you really want to hack down your bills, carnivores can save money by buying whole animals—a process that's easier than they might think. For a weekend kick, you can make your favorite chain restaurant recipe at home. Stay away from the high-fat cruft on dollar menus and switch to a cheaper, healthier Mediterranean diet or these twenty health foods for $1 or less. And for those nights when cooking a full, healthy meal just isn't in the cards, a "Microwave Diet" is a surprisingly nutritious fall-back.

8. Dress and look sharp with less cash

Full size

Let's not pretend you can look like a million bucks with $7 and change. What you can do is focus on taking a clean, elegant style and maintain and extend it without hitting the malls at all. The thrift-conscious J.D. at theGet Rich Slowly blog has 18 tips on smarter used clothing buys, whether as a staple or just a complement to your wardrobe. And, while the political hook is a bit, er, dated, we did consult with style-conscious types to help dress like a honcho with humble means. For everything else that isn't soap and a haircut, try taking on easy ways to look sharp, like de-cheap-ifying a suit, shaving with a straight razor, and using coat hangers to prove to yourself that, yes, you really do have something to wear. Photo bybrooklyn.

7. Start working for yourself (crazy as it sounds)

Even if you've invested in your paid-by-someone-else career, the layoffs just keep happening, leaving hard workers looking for their next gig. Assuming one's money is locked down, it can be surprising how much cheaper it is to start working for yourself—if the conditions are right. The self-employed route is one of the most common suggestions from our readers in response topost-layoff confusion, and if you don't have to pay for a commute, parking, lunch-on-the-go, daycare, or many other costs, freelance work might help you stem the losses, at least until you can land back on your feet. Everyone's situation is different, of course, and self-secured healthcare isn't getting cheaper, but we happen to know at least one certain blogger/developer who's taking a chance on working totally off the grid for 2009.

6. Cut the cable and get your TV free

When the nation-wide transition to all-digital, over-the-air television happens (be it Feb. 17 or later), anyone with an antenna will get digital channels for free (in fact, you may even get more channels than you were before). If you don't get great reception, or you like your television a bit more on-demand, there's never been more free programming on the web. Start with our six ways to catch your favorite TV shows, which covers the free market in all its forms, from official sites to BitTorrent. Next, check out Lifehacker readers' five favorite sites to stream TV for more inspiration. Looking for something that doesn't tie up your computer? Our ooh-shiny-savvy sibling Gizmodo has posted a great tutorial on taking a relatively cheap Apple cast-off, the AppleTV, and using the free Boxee software to spin it into a TV-streaming, download-playing, multi-media powerhouse.

5. Trim your cell phone costs

The economy stinks for you, but it reallystinks for providers of services that can easily be scaled back—like cell phone providers. On the one hand, they may fight harder to keep you paying for data plans, text messages, and other "value added" items, but they really, truly don't want to lose you as a customer. If you can't re-negotiate a better deal, though, take a tip from PC Magazine columnist Sascha Segan and cut your phone bill by actually jumping ship (to a pay-as-you-go phone), then let them come crawling back with a package pitch. Stuck in a contract with a huge cancellation fee? Check out contract-swapping sites like CellTradeUSA.com and CellSwapper.com, which make use of (legal!) trade clauses and might just help you escape your monthly vig.

4. Invest in your career

Financial guru Warren Buffett, as he so often does, said it best back in April, before the market fell: Unless you're going to make investment analysis a nearly full-time gig, you're better off spending your discretionary time in furthering your main career and honing your skills than surrounded by earnings reports and endlessly changing charts. It's the same reasoning SmartMoney's Jack Hough uses in explaining why renting might make more sense than buying, especially if you're not partial to putting work, time, and money into a place right now. Neither is a call to yank all your hard investments out and start a blacksmith shop (as appealing as some might find the idea), but they reason that the revenue-generating asset you might have the most control over is your career.

3. Trick yourself into spending less, saving more

Curbing spending, like cutting back on calories, is something any self-help-ish expert can and will tell you to do, with few details given. So you're left, just as with dieting, to come up with your tricks and techniques for teaching yourself to do and not do certain things. When it comes totricking yourself into saving money, we like the kind that you don't need much to start out doing, like Merlin Mann's Crap I Just Don't Need.txt file, in which he captures all his do-wants and must-haves, as if it were a wish list, but ends up checking it every so often to see just how well he's gotten along without all those things. High-speed, low-drag spending psychology. Photo by Darren Hester.

2. Get serious about Craigslist

Craigslist is a website built for an economy that's scaling back to basics. People looking for extra cash divest themselves of stuff they don't really need, and those who need to spend less snatch up their stuff. If you're on either side, it helps to have the right tools. Get savvy with your selling by digesting Adam's seller's guide to Craigslist, and on the flip side with our Craigslist tips for power users. Hone down on exactly what you're looking for (time is money, after all) with thepreviously mentioned Craigslist Image Preview extension, or the image mashupMyWiseBunny.com (formerly CLHack.com). It can feel harsh grabbing up deals when you know times are tough, but to many sellers, the buyer who actually pays is worth more than some future ideal of better times.

1. Reduce your bills by simply asking

Full size

One of the most effective means of shaving money off your monthly costs doesn't involve a website, coupon code, or any kind of hack, unless you count working up the small courage required to just, well, ask. Our weekend editor Jason found deals on his internet package, gas bills, household insurance, and even trash disposal, just by being persistent and, in most cases, simply asking if there was a deal he didn't know about. Read his tips on reducing by asking, then down the last of your coffee and get on the horn. Photo by WoodleyWonderworks.

Where have you found unexpected savings or earnings in recent months? What's your plan for cutting back or cashing in if the downturn continues? Share your story in the comments.

20 Things I Should Have Known at 20

The guys of The Buried Life are insanely inspirational. Their focus is to live life to it's fullest, and they have this blog's support 100%. Check out this post from their tumblr. So great.

20 Things I Should Have Known at 20.

1. The world is trying to keep you stupid. From bank fees to interest rates to miracle diets, people who are not educated are easier to get money from and easier to lead. Educate yourself as much as possible for wealth, independence, and happiness.

2. Do not have faith in institutions to educate you. By the time they build the curriculum, it’s likely that the system is outdated– sometimes utterly broken. You both learn and get respect from people worth getting it from by leading and doing, not by following.

3. Read as much as you can. Learn to speed read with high retention. Emerson Spartz taught me this while I was at a Summit Series event. If he reads 2-3 books a week, you can read one.

4. Connect with everyone, all the time. Be genuine about it. Learn to find something you like in each person, and then speak to that thing.

5. Don’t waste time being shy. Shyness is the belief that your emotions should be the arbitrators of your decision making process when the opposite is actually true.

6. If you feel weird about something during a relationship, that’s usually what you end up breaking up over.

7. Have as much contact as possible with older people. Personally, I met people at Podcamps. My friend Greg, at the age of 13, met his first future employer sitting next to him on a plane. The reason this is so valuable is because people your age don’t usually have the decision-making ability to help you very much. Also they know almost everything you will learn later, so ask them.

8. Find people that are cooler than you and hang out with them too. This and the corollary are both important: “don’t attempt to be average inside your group. Continuously attempt to be cooler than them (by doing cooler things, being more laid back, accepting, ambitious, etc.).”

9. You will become more conservative over time. This is just a fact. Those you surround yourself with create a kind of “bubble” that pushes you to support the status quo. For this reason, you need to do your craziest stuff NOW. Later on, you’ll become too afraid. Trust me.

10. Reduce all expenses as much as possible. I mean it. This creates a safety net that will allow you to do the crazier shit I mentioned above.

11. Instead of getting status through objects (which provide only temporary boosts), do it through experiences. In other words, a trip to Paris is a better choice than a new wardrobe. Studies show this also boosts happiness.

12. While you are living on the cheap, solve the money problem. Use the internet, because it’s like a cool little machine that helps you do your bidding. If you are currently living paycheck to paycheck, extend that to three weeks instead of two. Then, as you get better, you can think a month ahead, then three months, then six, and finally a year ahead. (The goal is to get to a point where you are thinking 5 years ahead.)

13. Learn to program.

14. Get a six-pack (or get thin, whatever your goal is) while you are young. Your hormones are in a better place to help you do this at a younger age. Don’t waste this opportunity, trust me.

15. Learn to cook. This will make everything much easier and it turns food from a chore + expensive habit into a pleasant + frugal one. I’m a big Jamie Oliver fan, but whatever you like is fine.

16. Sleep well. This and cooking will help with the six pack. If you think “I can sleep when I’m dead” or “I have too much to do to sleep,” I have news for you: you are INEFFICIENT, and sleep deprivation isn’t helping.

17. Get a reminder app for everything. Do not trust your own brain for your memory. Do not trust it for what you “feel like” you should be doing. Trust only the reminder app. I use RE.minder and Action Method.

18. Choose something huge to do, as well as allowing the waves of opportunity to help you along. If you don’t set goals, some stuff may happen, but if you do choose, lots more will.

19. Get known for one thing. Spend like 5 years doing it instead of flopping around all over the place. If you want to shift afterwards, go ahead. Like I said, choose something.

20. Don’t try to “fix” anyone. Instead, look for someone who isn’t broken.

Written by: Julian Smith inoveryourhead.net

Get an Off-Campus Job

Waiting tables at high class restaurants can mean big tips.

The most basic way to make money in college is to simply get a job. While on-campus jobs have their advantages (refer to my article here), they are not for everyone. There are also more jobs off campus, so you might have better luck looking off campus anyways. Here are some things to look for when looking for an off campus job.

Tips

Serving in an off-campus restaurant can be one of the best ways for a college student to make dependable money because of one word: Tips. It is a beautiful thing to be able to make money from tips as well as an hourly wage, and when looking for an off-campus job look for a job where you can get tips. Depending on how nice the restaurant is, you could end up making $25-$30 an hour on weekends after tips.

Career Experience

Working off campus provides you with the opportunity to do more than answer phones or brew coffee. Try to work with a company relating to your major when looking for a job off campus. Finance majors try to get a job at a nearby bank. If you are studying to become a teacher, try to get a job at a local grade school. Doing this will make your job more enjoyable and earn you valuable experience in your field. It also gets your foot in the door and could even turn into an internship or a full time job post graduation.

Proximity to Campus

When looking for a job off campus, keep in mind how far away it is. Will you be able to walk to work after class or will you have to drive? If you drive is it worth the money you spend on gas or could you find a better job closer to school? These seem like basic questions to ask yourself, but you would be surprised how many students actually overlook this when applying for jobs.

Good luck finding off campus jobs! Let me know if this guide helped, or if you have any questions.