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Show 9 Bring spending in line by conserving By JoANN MATHIS ROSS, M.S. USU Home Extension Economist There are two things you can do when the outgo is greater than the income in your spending plan. You can either spend less or earn more. Though it sounds very simple, those are the two options you have when spending spen-ding is greater than income. One way to close the gap is to spend less by conserving. conserv-ing. Turn the thermostat down during the winter. Turn it up in the summer. Combine shopping trips, car pool or walk when possible. Take shorter showers, do larger loads of laundry, and rinse laundry in cold water. Share tools and equipment with neighbors and friends instead of buying it yourself. Cutting back is another way to spend less. Eat out less often. Limit long distance calls. Make calls when rates are reduced or write letters. Buy only clothing you need. Share magazine subscriptions, books, etc. with others. Consider using alternative resources. Buy generic or house brands instead of name brands. Learn more do-it-yourself skills. Choose less expensive restaurants or vacation spots. Check out books and other materials from the library. Use public parks and facilities instead of expensive health clubs. Spend less by not buying things. Ask yourself if you really need the item or if there is something else you want even more. Learn to say no to yourself, your children, salespeople and things you feel pressured into buying. Don't buy on credit unless it is absolutely necessary. Increase income by upgrading job-related skills or finding a better paying job. Work overtime or find a second se-cond job. See if other family members can work for pay. Earn more interest on investments by shopping for bank accounts. Compare different savings and investment in-vestment alternatives to get a comfortable and safe return. Making an effort to incorporate these money saving tips and others will allow you to bridge the gap between outgo and income in your spending plan. Resource: "Successful Money Management" (EC 428.1-4) by Dr. Barbara Rowe with Kay W. Hansen and Marsha M. Peterson, Utah State University Cooperative Coop-erative Extension Service, November 1990. |