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America Inspired

Consumer cost cutting nets compounded savings


The new brown bag -- laptop lunching.

Consumers are shopping the generic brand shelf, brown-bagging it at lunch time and otherwise finding ways to save money during the Great Recession.

Apparently, the bad economy is forcing consumers to do something they should always do, but don't during good times -- save money by spending wisely on needs, not wants.

What's perhaps most significant is that when consumers do find ways to save money, their savings is compounded by the reduction in other costs associated with old spending habits.

A Harris Poll of 2,177 adults surveyed online from June 8 to June 15 found:

• Three in five adults (62 percent) say they are purchasing more generic brands while another 14 percent consider it. Take a look at generic prices that are half those of brand names and you'll know why.

• Just under half (47 percent) of Americans are brown-bagging lunch instead of purchasing it. One brown-bag lunch typically costs a fraction of the cost of eating something better than fast food at lunch time, if you also consider the cost of driving to the restaurant. Lugging lunch also opens the opportunity for a healthier meal and, using non-disposable containers, a more earth-friendly lunch. Big savings here.

• Slightly over one-third (36 percent) are going to the hairdresser or barber less often and again, saving not only on the cost of the service itself, but transportation costs too.

• One-third (33 percent) are switching to refillable water bottles instead of purchasing bottles of water, reducing the need for more recyclable containers.

• People are also canceling one or more magazine subscriptions (29 percent done and canceling a newspaper subscription (15 percent). Same thing is online for free, pretty much.

• One in five Americans have cut down on dry cleaning (20 percent). This is a tough one. How else do you clean dry-clean only clothes?

• Nearly one in five (19 percent) cut down on purchasing coffee in the morning. This has always been a rip off, because it's no longer a 50-cent cup of java. At $3 to $5 a pop, you can buy your own espresso maker (after banking your savings on that morning cup of Joe for a month or so) and brew Consumer Reports top rated 8 O'clock at home, or go ahead, buy a bag of Starbucks beans. Don't forget the generic brand.

• Two few, 14 percent, have begun carpooling or taking mass transit. This has a potential for massive gas and vehicle upkeep savings. Think how much you could save on just a 10 mile trip everyday, if you only had to drive once a week with four other carpoolers?

For more info on how other consumers are cutting back read:

Don't pay sticker price

Go ahead, haggle

Best recession offers

Dishwashers, microwaves, televisions the new luxury items

Eat out, eat well, eat cheap

For more info: 
Broderick Perkins, operates the Silicon Valley-based DeadlineNews Group digital news service. Get the feed from the Deadline Newsroom

Perkins is the National
Consumer News Examiner
Offbeat News Examiner

Real Estate News Examiner

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Consumer News Examiner

Broderick Perkins returns to his roots as the National Consumer News Examiner. During his more than 30-year career, he worked as an award-winning...

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