The ELEMENTS of money

Fashionably Frugal

 

 I've come to the conclusion that unless your zip code is 90210, or you so happen to be a Gossip Girl, buying $500 boots and $800 handbags is out of the question. After all, our country is in the middle of crazy job losses and people are losing their homes. But even though the economy is in tatters, it doesn’t mean that you must be. Designer labels, posh accessories, and extravagant purchases are so yesterday.

Today’s look is fashionably frugal and the good news is that you won’t need to whip out a credit card to get it. So in keeping in the spirit of my saving money theme, here's today's tip: share with a friend!

Team up with a friend and vow to become fashionably frugal together. Offer to help her with her closet if she’ll help you with yours. Consider trading clothes to ensure that each of you has at least four to five outfits and to even out any duplicate items. For example, if you have three black t-shirts and she has two brown belts, give her one of your t-shirts in exchange for one of her belts and donate the extra t-shirt to charity.

Going through each others closets and sharing the wealth is a fun way to spend time with a friend, and will help the two of you overcome the urge to shop.

That's all for today. Stay tuned for more money-saving tips.

Catie

Save money this week ... really

It seems like everyone is talking about money lately. If one (or both) of your parents are among the 10.3 million people unemployed in the U.S. today, you're probably doing a lot more than talking about it ... you're probably trying to save money any way you can. And even if you're not affected today, it's not a bad idea to start trying to save a little money to plan for tomorrow.

So in light of the current financial crisis, over the next few posts I'm going to focus on different ways you can help your family save money. Today's tip: clip coupons.

We all get coupons. Your mailbox is probably flooded with coupons right now. Maybe you used to think of them as “junk mail.” From now on, think of coupons as money. When you throw them out without looking to see if you can use them, you’re throwing away money. Seriously! The trick with coupons is to use them only for things you’d normally buy. Saving $0.50 off of jar of crunchy peanut butter doesn't make any sense if you're allergic to peanuts. Also, compare prices and make sure that the coupon can really save you money.

And that's it for today's quick money tip. Stay tuned for another tip in a few days.

Catie