Saving Money in a Slow Economy

The rising costs of gas, food, and other essentials are at the top of mind for many people these days – and it’s not difficult to see why. The price at the pump has risen almost 20% since 2007, according to AAA. And food costs are up sharply as well – the price of bread has risen 16% and eggs 35%, according to the Bureau of Labor Statistics. It is getting more and more expensive just to buy the essentials. The following tips can help you stretch your income further, and maybe even leave you a little left over to save with DCU.

• Run all of your errands on one day. By making several stops with a warm engine you'll use less gas than making many trips spread out over the week.
• Opt to walk or bike whenever possible. You'll get a little exercise, and save money too!
• Consider carpooling. If you have a friend who drives the same routes, you can both benefit from ridesharing.
• Look into public transportation. Your local transit service can be a cost savings.
• Shop around. Check out web sites such as www.gasbuddy.com* to find the lowest gas prices in your neighborhood.

• Cook from scratch. Even with food prices rising, the cost of individual ingredients is still much cheaper than buying prepared food.
• Buy in bulk. If you have ample storage, buying in bulk from a warehouse store can help you save big.
• Be prepared. Grocery stores aren't the only places food costs are going up – restaurants are raising prices as well. Freezing a few easy meals ahead of time will keep you from eating out when you're not in the mood to cook.

• Think about downsizing. If you're considering moving to a smaller home, you may save on your monthly housing costs. Our mortgage specialists at DCU can help you decide what might be right for you.
• Create energy-saving habits at home. Fully load your dishwasher and washing machine before running them, switch to compact fluorescent light bulbs, and keep your thermostat low in the winter and high in the summer. These small changes can add up to big savings on your next energy bill.

Finding Money to Save
Making a few changes in your shopping habits can add up to money saved. Want to start setting that money aside? Come to a DCU branch, or visit dcu.org for more information on savings vehicles.

* Web site provided for information only; no endorsement is implied.