Looking Good for Less

Even though we are in the midst of the worst economic crisis since the depression, life must go on. Balling out of control, making it rain, and days of splurging are a thing of the past – for now, and budgeting is a reality. With uncertain job security and your stock portfolio heading south faster than birds flying to Miami for the winter, it is wise to watch your bottom line.

“I remember the most important thing for me was if I can buy another $1,000 dollar Gucci bag to go with the collection of seven that I already have,” states Gina, a real estate agent from Atlanta. “Now I make sure I have enough to pay my mortgage and put money aside for any unexpected emergencies.”

Like Gina, many twenty and thirty something female professionals that was used to $100 spa treatments and $50 a plate lunch dates are tightening their belts while trying to enjoy the pleasures of life for less. This has created a new word to the lexicon – Recessionistas – “A person who is able to stick to a tight budget while still managing to dress and live stylishly.”

In today’s economy in which money is tight, you have to be creative with your budget. Here are some tips on living good for less:

Go to more free places like parks, museums, and libraries – Often overlooked during a good economy, these locations are free and you will be able to learn something while you are there.

Shop at outlets and buy in the off season – What used to be a fashion no no is now the true badge of honor for a recessionista. Every major designer has an outlet store in which they send their off season or overstocked clothes. You can buy clothing from your favorite designer for up to 80% off retail.

Before the off season clothes make it to the outlets, you can catch them at the clearance sales when the major department store makes room for the spring line and they have to get rid of the winter line, etc. Clearance sales can save you up to 70%, you just have to be patient and wait to buy that new blouse three months later than usual.

Use travel sites – Every recessionista still needs a vacation, especially when she is working more hours and making less. Log on to travel sites like Expedia, Orbitz, and Travelocity to take advantage of the deep discounts in hotel, air fare, and rental cars. They have negotiated rates with all of the air carriers and hotel chains to buy in bulk so they are able to pass the savings on to you, the consumer.

“This economy has showed me to place an importance on having fun with family and friends, and not to put so much on the material things.” Says Tahlia, a model from New York City.

Go out and enjoy life, you still deserve it.

Financial Editor Carl Agard is a Real Estate Broker and Author of three books on real estate www.carlagard.com

Image Courtesy of Mercedes-Benz