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Money Saving Tips For Tough Economy

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DETROIT (WWJ) – Saving money in a tough economy can be a challenge.   With gasoline prices going up, and food prices doing the same, you’ve got to ask yourself, “Are there ways to save a few bucks?”

WWJ Newsradio 950’s Gary Lundy says the answer is “yes”.

Saving money on your grocery bill can start with the coupon supplements you’ll find in the weekend newspapers. Clipping coupons can actually save you quite a bit of money, especially from retailers that will double the face value of the coupons.

But before you jump in the car and go shopping, it’s a good idea to make a grocery list of what you really need, instead of guessing what you need when you get to the grocery store. 

“While so many people now include saving as part of their shopping routine, our recent poll indicates that shoppers feel there is still more to learn to achieve an even greater savings,” said Lisa Reynolds, RedPlum’s Mom Saver in Chief.

“Rising prices at the supermarket and at the pump are likely driving them to become more strategic shoppers and seek out deals wherever they can. In fact, our RedPlum Purse String Study in 2010, revealed that 56% are using their savings for basic necessities,” says  Reynolds.                     

Reynolds, a savings expert, encourages shoppers to never buy anything unless it is on sale or available with a coupon. She says that everyone can save; it isn’t time-consuming; and provides a great deal of satisfaction and a feeling of being in control. Reynolds suggests:            

  • It’s a good idea to make a list of all the errands on your weekend things to do.  If possible, make one trip.  It could save you money at the gas pumps.
  • Spend 20 minutes a week seeking out deals and save more than $1,000 year; 81% say they save up to $50 a week.
  • 84%  of us are eating out less often to save in restaurants; when dining out.
  • 52% redeem coupons to save money; and
  • 76% are looking in newspapers for sales.
  •  Consider shopping at stores with reward cards or partnerships where you may receive a deeper discount.
  • Shop one store strategically to save on gas; do not make multiple trips.
  • Be organized. Make a shopping list matching your coupons to store circulars. Seek out coupons online and in print and look for stores that offer double coupons. According to the 2010 RedPlum Purse String Study, 80% spent up to three hours looking for coupons, deals and savings from all sources.
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