Everyone has been hit in some way by the recession. Here are a few tips to help you cope a little better.
Find out about benefits
If you or your partner has been laid off, the first thing you should do is look into unemployment benefits and income supplements at your social welfare office or health centre. There may also be tax rebates that apply to your family if you have stopped earning halfway through the tax year.
Pay less on bills
Shopping around for a better mortgage package, and getting better deals on loans and credit cards are another way you can save. You may find that there is money being spent on insurance packages that overlap, or where you can reduce the insured amount in accordance with the real value of items you own.
Whenever you shop for anything, find out if there’s a cash discount. Many times, you can save by paying cash.
If you’re renting, consider speaking to your landlord about lowering your rent, or if you can’t do that, consider moving to a cheaper home.
Get a second income
Something as simple as conducting surveys, or doing promotions can bring in extra money on weekends. Working as a waiter, barman or pizza delivery person may not be glamorous, but it can put extra cash in your pocket. Try selling home made arts, crafts or food items. Advertise your old stuff on sites like eBay. Offering a local typing service, or teaching people how to do something are two more ways to make money from home.
Consider a career change
There are some jobs that are considered ‘recession proof’. If yours isn’t one of them, then it may be worth looking into a career change. Check which fields are hiring the most before you take the plunge. Study part time, while you continue to work for your current employer. Look at lateral moves. There may be other jobs where your current skills can be used, but in a more stable industry.
Make saving money a family affair
Get your children involved in saving money. Make them aware of the cost of things, and have them look for ways that you can save. If your child wants something new, have them look for old stuff that they’re willing to part with first. Then hold a garage sale, and use the proceeds to fund the new purchase. Get your kids to help you cut out coupons to use the next time you go grocery shopping. Reading books about money and about poor people can help to put the money issue into perspective for your child.
Use the internet
Do your banking online. Not only will it save you on bank fees, it’ll also save on the petrol you’d use to go to the bank. Use search engines to find coupons before you shop. Almost everything you want to buy will have a coupon available that can save you money. Use the internet to research who is offering the best deal on any big items you want to buy. Use free classified sites, or eBay, to buy and sell used items.
Keep your chin up
It’s important to remember that while the recession is no picnic, it also cannot last forever. Use the opportunity to spend more time with your family, doing cheap or free things that are fun, like hiking, riding bikes or playing games. Listen to music that you love, or rediscover your love of books thanks to the local library.
Make learning to cook a priority – after all, who can afford take aways these days?
Find out about benefits
If you or your partner has been laid off, the first thing you should do is look into unemployment benefits and income supplements at your social welfare office or health centre. There may also be tax rebates that apply to your family if you have stopped earning halfway through the tax year.
Pay less on bills
Shopping around for a better mortgage package, and getting better deals on loans and credit cards are another way you can save. You may find that there is money being spent on insurance packages that overlap, or where you can reduce the insured amount in accordance with the real value of items you own.
Whenever you shop for anything, find out if there’s a cash discount. Many times, you can save by paying cash.
If you’re renting, consider speaking to your landlord about lowering your rent, or if you can’t do that, consider moving to a cheaper home.
Get a second income
Something as simple as conducting surveys, or doing promotions can bring in extra money on weekends. Working as a waiter, barman or pizza delivery person may not be glamorous, but it can put extra cash in your pocket. Try selling home made arts, crafts or food items. Advertise your old stuff on sites like eBay. Offering a local typing service, or teaching people how to do something are two more ways to make money from home.
Consider a career change
There are some jobs that are considered ‘recession proof’. If yours isn’t one of them, then it may be worth looking into a career change. Check which fields are hiring the most before you take the plunge. Study part time, while you continue to work for your current employer. Look at lateral moves. There may be other jobs where your current skills can be used, but in a more stable industry.
Make saving money a family affair
Get your children involved in saving money. Make them aware of the cost of things, and have them look for ways that you can save. If your child wants something new, have them look for old stuff that they’re willing to part with first. Then hold a garage sale, and use the proceeds to fund the new purchase. Get your kids to help you cut out coupons to use the next time you go grocery shopping. Reading books about money and about poor people can help to put the money issue into perspective for your child.
Use the internet
Do your banking online. Not only will it save you on bank fees, it’ll also save on the petrol you’d use to go to the bank. Use search engines to find coupons before you shop. Almost everything you want to buy will have a coupon available that can save you money. Use the internet to research who is offering the best deal on any big items you want to buy. Use free classified sites, or eBay, to buy and sell used items.
Keep your chin up
It’s important to remember that while the recession is no picnic, it also cannot last forever. Use the opportunity to spend more time with your family, doing cheap or free things that are fun, like hiking, riding bikes or playing games. Listen to music that you love, or rediscover your love of books thanks to the local library.
Make learning to cook a priority – after all, who can afford take aways these days?