tightening the belt

With gas prices hovering at the four dollar and fifty cent ($4.50) mark here in LA County, I thought I would post something I left as a comment for someone that was suggested I share, as it might help others. Here are some tips for making ends meet in tough economic times:

Dealing with being 'Between Jobs'

• If you find yourself (or significant other) without a job, don't make the most common mistake most job hunters make, and keep your job search a secret. Yes, you may feel like a loser (you have suffered a loss), but getting the word out is key to success. You never know who might know someone. And believe it or not, most people want to help.


• On the same note, make it easy for people to understand what type of employment you are seeking and why they should hire you. This is called your elevator speech. The idea is that if you found yourself in an elevator with someone who had a position to fill, this is what you would say to her as you made your way to your floor. Practice it.


• Looking for a job is hard work. Be sure to take one afternoon or morning a week and do something you wouldn't do if you were working. Take advantage of a free day at a museum or pack a lunch and enjoy a noontime concert at the mall.


• If you are eligible for COBRA coverage for your health insurance, fill out the forms and write the check as soon as you receive your paperwork. They have 30 days to get those forms to you and you have 30 days to get them back and be paid up. Should a medical emergency arise, during that 60-day period you are prepared. At day 58 sit down and figure out what your best options are. Run the numbers. Give your best guess as to how much longer you may be out of work.


• Look for networking opportunities. Do you belong to an organization in your field? An alumni network? Check out what events are coming up and go. Be ready to give your elevator speech. And have a business card with your contact information ready to give out - but don't look like the guy who plasters windshields with flyers in your spare time.


• Use technology to help you save time and move your resume to the top. At many of the job search sites, every time you update your profile/resume, you are moved to the front of the line so to speak. Learning little tricks like this can give you an edge up on the competition.

Budget Tips

• Go through your pantry and freezer and use up the food you have. Make it a game like Door Knock Dinners - only use what you have.


• Make a menu for your week's meals and determine what you need at the store. Stick to it as much as possible. Wasting food is one of the biggest budget pitfalls. Plus there are starving children all over the world.


• Shop the ads at your local grocery store. These really are the best deals. Learn what things cost and keep an eye out for sales on things you use regularly.


• Clipping coupons and using store's club card programs can save you money. The key is to know what is on sale and only buy what you will use. If you only like Heinz Ketchup but it isn't on sale, it probably is a better deal because you won't toss it out.


• Re-discover your local library. Many libraries offer current book, movie, and music titles - many that you can check out for free. Just remember to return your items on time. If the library in your area isn't great, check a neighboring area. Rules vary on who can use a library so call or go on line to determine if you can get a library card.


• Review your monthly utility and phone bills. Call around and see if you can't get a better deal. For example, some utility companies will allow you to pay the same amount per month base on your usage so you don't get stuck with high AC bills in the summer, or heating bills in the winter. If your cell phone plan the best for you? Do you really need a land line?


• Take steps to conserve energy.




• Line dry your clothes.


• Find ways to cool the house without AC if possible.


• Check to make sure your sprinklers are working properly.


• Fix leaky faucets.


• Take shorter showers (or shower together).




• As for saving gas, you may not want to go quite to this extreme, but there are a few good (and at least one very bad) ideas for getting better gas mileage. This four minute segment dispels a few gas saving myths.

The bottom line is knowing where your money is going and learning ways to stretch it further. One of the best tips is to write down everything you spend for a week (or a whole month). This includes paying the rent/mortgage to buying a snack from a vending machine. Then sit down and figure out where you could eliminate or cut back or do something alternative. For example you may find that you are buying the paper enough that it would be cheaper to get a subscription. If your monthly parking is eating a hole in your budget is there an alternative (another parking lot, public transit, carpooling)? These are individual choices, and what works for one family, may spell disaster in another. The idea is to cut out the things you won't really miss.



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A note about the photo above: It is a photograph of a portrait by Edward Degas called The Milliners. It is part of the collection at the J. Paul Getty Center in Los Angeles. You can see an x-ray image of the painting here.


on the night stand :: You Are A Miserable Excuse For A Hero!: Book One In The Just Make A Choice! Series