Frugality

A Penny Saved is Worth More Than a Penny Earned

Posted February 9, 2009 by Bernz

When I was young, my grandmother’s favorite saying was, “A penny saved is a penny earned.” At that age, money was an odd, far-away concept for me so I really didn’t understand what that meant until I was older. The old aphorism simply means that money we save is less money that we have to go out and make. It seems like a very simple truth, but, in fact, a penny saved is worth far more than a penny earned.

Consider this example. You make $10 per hour at your job. You have two choices: you can work an extra hour to make an extra $10 or you can save $10 on your grocery bill by cutting coupons for an hour. Each choice takes an hour of your time so, at first glance, they appear to be equal choices. But they are certainly not.

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Posted in Frugality, Misc, Saving Money | 1 Comment »

Bartering Away the Recession

Posted February 5, 2009 by Bernz

As the daily economic news continues to paint a bleak picture of the health of American business, consumers seek out new ways to make the dollars stretch until the end of the month. A very old way of doing business is once again gaining popularity for its frugality and simplicity. Barter has been around ever since the beginning of commerce, only becoming more scarce as money took over as a means of trade. In the past several years, however, barter has become fashionable and organized barter networks have popped up all over the country.

Barter networks bring together those who have goods and services to trade and allow them to do so with pseudo-cash. These “barter dollars” accrue in members’ accounts and can be used to purchase other available items or services offered on the network. The bartering can be done face-to-face at barter meetings or, increasingly, on the internet.

Bartering helps the under-employed use their skills for compensation from customers who might not otherwise have the cash to spend. It then lets members purchase from any other member on the network with the “money” earned.

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Posted in Frugality, Misc, Saving Money | 2 Comments »


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