When we think of saving money it is a rare thing indeed, these days. With so much unemployment and concomitant financial worry we may think that just paying the bills is quite an accomplishment. Sometimes, we are right. Nonetheless, tomorrow will eventually arrive and we must be prepared. At this time we don’t know whether things will deteriorate further or will start to recover. We dare not take a chance on making a decision that will put us in more peril. The best advice for these days is to keep an even keel, don’t take chances, and to stay alert. What if, however, there was a way to save something for the future while still paying the bills? We never know when our financial future will turn downward; having a backup system would be a prudent thing to create.

First, let’s start with whatever assets we have at hand. For most, this means a paycheck, a house, a car, and if we are lucky, some sort of investment vehicle. If all the bills are paid each month, then our assets equal our expenses. So far, so good. Hopefully, there will not be anything unforeseen to upset this careful balance. Second, look at the expenses to see if there are ways to cut some corners. Can you cut down on trips to restaurants? Will your present wardrobe be sufficient for a few more months, or years? Will the family car be around for another decade? By taking care of the things that we own at present we can save whatever money that would have been spent to replace or repair these assets. Third, we can rethink our attitudes on spending. Maybe helping the children (who are old enough) to get a job is a better idea than trying to get them into College. Schools are very expensive and are, for the most part, injurious to the students. Can we learn to share a car rather than having a separate car for each family member? A couple generations ago a family who could afford a car was seen as well to do. Sharing the car was understood and driving it was a privilege. The kids in the typical family looked forward to hand-me-downs because they knew their older sibling would outgrow the garment and that they would get it. Of course, getting something new was great but the money wasn’t always available.

Basically, most of us have much more than we need to get along. We can start to save money by looking at what we have and learning to use it to the best advantage. Save the money that you were going to spend on that outfit, take better care of the family car so it will last longer, and teach the children how to be frugal so they will never feel deprived. More difficult economic times are coming tomorrow; let us prepare by saving money today.