Three Ways to "Trade Down" to Stay Afloat in Tough Times

<p>By Katie McCaskey, <a rel="nofollow" title="Geezeo.com - Manage Your Money" target="_blank" href="http://www.geezeo.com">Geezeo.com</a></p><p>In tough times it’s a little overwhelming to try and figure out how and where you’ll adjust your budget. The key is “trading down”. This way you don’t give up your lifestyle entirely. You just replace some of your budget items for less costly options. </p> <p>Using this approach you can make small changes (buying store brand versus name brand), or make large gains on your bottom line (selling a car you owe money on for an older one you can pay for with cash).</p> <p><img src="http://geezeo-cms.s3.amazonaws.com/TradeIn.jpg" alt="TradeIn.jpg" border="0" height="263" width="350"> </p> <p>Here are three smallish ways to “trade down” your lifestyle for budgetary savings. You can decide on the bigger “trade downs”:</p> <p><strong>1. Cancel cable and watch all your favorites online. </strong> If you’re already paying for high-speed internet access and you have decent connectivity, this is an appealing option. Sites like Hulu.com provide lots of television shows. Or, you can connect your Netflix movies with a box like Roku.com. Roku will cost you the equipment but if you’re cutting cable you can still access a wide range of entertainment.</p> <p><strong>2. Eat in rather than going out.</strong> You can create a “night out on the town” feeling by changing up your dining area with music or ambiance like candles. Get a bottle of wine and invite your friends. If each friend contributes to the meal you’ve saved on the meal, the drinks, and possibly related costs associated with going out - like parking fees. Cool.</p> <p><strong>3. Generic, Generic, Generic</strong> Chances are good your clothes won’t tell the difference between brand-name detergent and the less expensive version. Look at your regular expenses and investigate the cheaper store-brand alternatives. Same goes for medicines or other drugstore items. If you’re generally unfamiliar with your “Inner Frugal Person” - a good place to start is by asking questions of our newest Geezeo Expert, <a rel="nofollow" href="https://www.geezeo.com/sections/geezeo-experts/groups/ask_the_expert__natalie_mcneal">frugality expert Natalie McNeal</a>. </p> <p>Remember: small actions add up! (See: <a rel="nofollow" href="http://blog.geezeo.com/2008/07/are-your-baby-steps-big-enough/">Are my baby-steps big enough?</a>) The small sacrifices you make now will keep your budget happy… all with barely noticeable lifestyle changes.</p><h3>Random Posts</h3><ul> <li><a rel="nofollow" href="http://blog.geezeo.com/2008/10/how-to-protect-your-401k/" title="How to Protect Your 401(k)">How to Protect Your 401(k) (0)</a></li> <li><a rel="nofollow" href="http://blog.geezeo.com/2008/06/nude-bikers-protest-gas-prices/" title="Nude bikers protest gas prices">Nude bikers protest gas prices (0)</a></li> <li><a rel="nofollow" href="http://blog.geezeo.com/2008/09/90210-then-and-now-which-teens-had-it-better/" title="90210 Then and Now: Which Teens Had it Better?">90210 Then and Now: Which Teens Had it Better? (1)</a></li> <li><a rel="nofollow" href="http://blog.geezeo.com/2008/10/video-games-beat-the-recession/" title="Video Games Beat the Recession">Video Games Beat the Recession (0)</a></li> <li><a rel="nofollow" href="http://blog.geezeo.com/2008/08/postnuptial-agreement/" title="Postnuptial Agreement">Postnuptial Agreement (1)</a></li> </ul>