Finance Roll

When the economy is bad, you are often inclined to spend less money. Your money and the way you spend it takes on a whole new meaning when the stock markets are down, your investments are losing value and you are forced to dip into your savings or 401K just to live from day to day. You start thinking about ways to preserve your wealth, instead of spending it. How can you do this in a down economy? What areas can you focus on to ensure you are preserving your wealth in a tough economy? 

You can save money just by starting in your own home in the following areas:

• Turn off your lights at home when you are not in the rooms.
• Purchase low watt light bulbs for lighting your rooms when possible.
• Sit outside and enjoy the wind in the summer months, instead of running the air conditioner or fans too     much. You can actually cool off by drinking plenty of water and enjoying some wind and shade under the trees or umbrella.
• Use a surge protector to plug in your electronic devices. They work great because you can press one button and turn off all devices at bedtime, or during the day when you are not home.
• Ensure your windows, doors and electrical outlets are insulated year round. You can save your heat in the winter and air in the summer months by insulating areas where heat and air can escape.
• Try to use window curtains that are insulated during the winter months, which can help further preserve your heat and potentially lower your heating costs.
• Change your furnace filter and have the furnace cleaned annually.
• Turn your thermostat down 1-3 degrees from the normal daily setting and watch the heat savings roll in.
• Try to use a Down comforter in the winter months and cotton sheets to help keep you warm, when turning down your thermostat 1-3 degrees from the normal daily setting.
• Wear socks on your feet and try to wear cotton pajamas to further help keep you warm in the winter months.
• Don't let the water just run when washing dishes. Wash them on one side of the sink and then rinse them afterwards. Some people just let the water run, which can increase their water bill.
• Don't let a leaky faucet go without getting it fixed. You can often purchase the rubber rings from the hardware store and fix a simple leak yourself, prior to calling in a professional.
• Try to cook a meal that can last a few days to eliminate using gas to cook every day.
• If you can walk to the store that is a few blocks away rather than drive, take the walk. The walk can save your car fuel and also ensure you get your daily exercise in at the same time.
• Finally, try to spend family time in one area looking at television rather than having televisions on in several rooms. It cuts down on the electric bills and also ensures you have that family bonding time.

These tips are not exhaustive, but they can be extremely helpful in preserving your money in a tough economy. Try them and watch the savings roll in.