Cutline Speaks

Yesterday I read an interesting story in U.S. News & World Report on industries and/or products that are *winning* (read: doing relatively well or poised to do well) in the current economy, the topic du jour for nearly every reporter and blogger. OK, make that the topic du jour for the general public. The story came to me by way of Anderson Cooper's blog and I happened to stumble on it after reading a story in the Washington Post on recession chic (and, in case you're wondering, I was inspired to read that thanks to a take-me-back-to-childhood tweet). 

All this reading has me thinking about my own spending and saving habits. I tried to help the economy a little when I bought a new car in October and I've since purchased lots of personal goods that, frankly, I don't need. I also support nearly all my local restaurants with a high level of frequency -- and I'm talking about breakfast, lunch, and dinner. Let's not even talk about my support, through a variety of wineries, of grapes. That alone should pull the country out of its slump. But, alas, times are indeed tough and everyone is looking for ways to save...present company definitely included. 

In addition to being inspired and amused by the U.S. News story that lists home gardening, condom makers, public universities, chocolate companies, and the Golden Arches  as winners today, I was also inspired to do some of my own research and look for ways to save. Almost every story has tips and tricks: bring your lunch to work, eat out less, turn off lights when you're not in the room, use coupons, carpool, buy in bulk, and on and on we go (and, yes, let's not forget about the environmental impact some of these things can make, too!). But I also came across some stories that offered interesting ideas that I hadn't thought about and that don't pop to the top of the lists I have read. So, I thought I'd share a few:

1. Getting rid of your landline at home and relying solely on your cell phone could save you up to $60 a month, which equates to an annual savings of $720. I couldn't do this because I need my landline to let guests in through my building's intercom system, but I did recently consolidate web/phone/cable and ended up saving closer to $100 a month.   

2. When driving, make sure you do so at a moderate speed to save on gas. According to Consumer Reports, "driving at 55 mph instead of 65 or 75 will save you money. When [they] increased the Camry's highway cruising speed from 55 mph to 65, the car's fuel economy dropped from 40 mpg to 35. Speeding up to 75 mph cost the car another 5 mpg. One reason is that aerodynamic drag increases exponentially the faster you drive; it simply takes more fuel to power the car through the air." Interesting. 

3. Do your laundry with cold water and you'll use 90 percent less energy than washing in hot water. And as an added benefit you might just save even more money since you won't need to replace those shrunken shirts and jeans. 

4. Taboo subject, especially here in California, but...quit smoking. According to MoneyCentral, if you have a pack-a-day habit you could save close to $2,000 a year by kicking it. And an added bonus is that it helps your health! 

5. Call your credit card company and ask for a rate reduction. While you're at it, call your cable, cell, and internet providers too. 

6. Throw the mother of all garage sales! Who doesn't have a few things laying around that perhaps someone else might actually use? If I think seriously about all the stuff I have in my collective closets, I'm guessing I could net a couple grand. And make someone else happy in the process!

7. Cancel unused club memberships. It's great to keep paying the gym -- when you actually go to the gym -- but if you find that you don't, it might be time to call it quits and look for other ways to work exercise into your life. 

8. Make gifts instead of buying them or think of more creative gifts (or services) to give. Perhaps your sister needs a night off from the kids? Offer to babysit. It'll give her a break and you'll get to spend quality time with your nieces and nephews. I only wish I could offer this up! Unfortunately for me, any babysitting would require a five-hour flight. 

9. Cancel magazine subscriptions for those publications that only serve as props for your coffee table. 

10. Share your money saving tips with others! And check out Google’s Tip Jar. 

I haven't tested out all these things and I'm certain they vary in savings based on where you live, but it can't hurt to try something new! Do you have savings tips of your own? Please share them with us!