Tuesday, February 23, 2010

How to reduce debt and save money in times of recession

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The cost of living is increasing in the United States. Now more than ever, it is important to begin to reduce debt as much as possible and save where possible.

INFLATION MONEY Magazine Article

In Money Magazine this month, there was an interesting article titled "Inflation Survival: The Ultimate Guide." Here are some interesting statistics in this article.


The cost to fill his ChevyTrailblazer is almost $ 90.00. It is about 20% more than what happened this time last year.
The price of a pack of hot dogs is almost 7% more than it did a year ago.
The eggs are 30%.

What the beginning of this article is to describe, is that our cost of living is rising. Inflation is a normal part of the economy. Over time, there are periods where inflation is higher than others. In our current situation, inflation is also closelywith a decrease in the strength of oil prices in dollars and growing. This makes the small increase in inflation appears to be significantly higher due to external forces.

What can you do to help offset rising costs?

Decrease in debt - interest is a real murderess in difficult times. The least amount of debt that can get away ... the best. This may mean that you go without some items that are "used" to have, but in the long ... youis much better prepared for the vagaries of the economy.

Reductions in the areas of your life - in these moments can be cut items that are not needed. Several examples are:

Eating once a week instead of times
Close to home for the holidays to offset the costs of transport
The labeling of foods, rather than brand

Look for the savings in the articles should have - a great way to reduce gas costs and save time and shopmore in line for items you need on a daily basis.

The work that is put out now will make for greater things in future. For most of you have not noticed, things are going better now ... getting worse. spare no effort to future performance.

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