Valley PR Blog

Oh, what a difference 10 years make

By Linda VandeVrede on January 3rd, 2010 In Advice

I need your ideas about how to beat the recession. You know, ways to cut back and save more money. When I think of how I wasted money 10 years ago! I was driving a Lexus IS300, paying a maid every 2 weeks, and spending $$$ on pedicures and manicures. Oh, how times have changed. The stock slide last March put the fear of god in me.

Here’s what I’ve done in the last 12 months without looking like a hobo:

Eliminated my business line – I use my cellphone exclusively
Manicures, pedicures – all done myself (which explains why it looks as if a 3-year-old painted my nails)
Toyota Camry was the least expensive lease, believe it or not – even cheaper than a Corolla
No more Nordstroms – hello, consignment shops
Eliminated a bunch of print newspaper and magazine subscriptions
Reduced my society membership fees to only those groups I truly enjoy – PRSA and ABPA
Very, very few dinners out – more coffees
Speaking of coffee, goodbye, Starbucks cafe mocha – hello regular coffee
Used bookstores and Amazon used books
Learning more web info myself, instead of paying an outsourced designer

OK, I realize I’m not exactly suffering like a lot of people. I’m not having a pity party, by any means. But I AM interested in what other ideas PR pros have come up with to cut back in 2010.

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-Well, I stopped driving to the office every day (not necessarily by choice, but it’s worked out well!)

-Cut my professional memberships to only PRSA.

-More diligent about loyalty programs (MaxPerks with OfficeMax, Best Buy Rewards, Hilton Honors, etc.)

-I’ll be without any car payments in two months for the first time in at least 15 years.

I agree with all of these, they are excellent, Linda!

There is just one that I want to make a plea for…used books. Please support authors and the publishing industry and invest in new copies now and then. Even if it is not 100% of the time, at least 50/50.

Maybe even sell your used books to an indie bookstore and then use that money to buy new books! Win-win situation!

Happy New Year!

– Kathy

Peter – good point – I should make better use of the loyalty programs. Kathy – ABSOLUTELY! It is important to support authors. I tend to buy new when it’s a recently published book, and used when the book is 3 years older or more. I do sell some of my books to an independent used bookstore nearby and use the money to buy new used books .

Linda,

I would like to recommend you read “Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence” by Joe Dominguez. It is an older book, but it has been revised for the 21st century and it had a huge impact on my life back when I was trying to escape corporate America.

Len

Len – should I buy it new or at a used bookstore?

Ebay, Craig’s List, first of the month discounts (10%) at grocery stores for those over 50; most important, Google Voice so my Hollywood clients have a local # 818- to call me free while I’m enjoying sunny Arizona, climbing whatever the name of the mountain off Northern & 51 is called now. End of Feb. spring training, Blues Blast. You need to cut down to afford all the events coming up, featured on my Jan. 1 blog post
http://marketingsociologist.blogspot.com/2010/01/21st-centurys-second-decade-desert-will.html

Kathy Cano-Murillo spoiled it. Yes, Linda, I bought your book at Bookman’s! Read it over the holidays.

I canceled my TV. No more TV. I don’t miss it at all. In fact, without the news, I feel happier!

I cancelled my TV, stopped buying wine, stopped going out to movies and concerts, stopped buying gasoline for the car and started walking to work every day. I just have to watch out for those crazy Riyadh drivers making U-turns now.

(Oh, and anyone who wants to get in touch via skype can reach me at “jveeds”)

I love movies, so to save money at the concessions, I get the Harkins loyalty cup and yes, the ugly popcorn t-shirt. For rentals, redbox is great for $1 movies.

I would also suggest checking out these Web sites for other money saving ideas:

http://www.feedthepig.org
http://www.360financialliteracy.org

I love your post! I’m a new solo pr business owner and part-time stay-at-home mom. I’ve scaled back a lot of expenses and save money by not paying for full-time daycare, dry cleaning, gas, work lunches, etc. I’ve also cut out newspaper subscriptions, shop consignment, buy used cars, and make trips to the library. It all makes a difference, and I’m loving the freedom of being my own boss and spending more time with my kids.

Linda,

Good start. Cutting expenses is part of the solution, but I’ve found it useful to increase investment in things that will generate a return, such as the networking group I joined last year. Few of the members are prospects for me, but the people they know are another matter entirely. Also, I have gotten some great ideas how to improve my services just be talking to members one on one. The modest $50 per month investment has come back to me many times over, and my professional circle is widening.

Jim Bowman – The PR Doc®

Linda,

I can completely relate to this. Over the last year I’ve realized the number of things I can do to stretch the dollar, and the amount of money I wasted on fundamental non-necessities. Here’s what I did:

1. Go to the grocery store once/week vs. a few times per week (as a single person I found that going more frequently meant I was spending more money).

2. I’ve adopted running outside since I live in LA over a gym membership, and also bought myself some arm weights from Target to eliminate the gym completely.

3. Canceled my Verizon embedded Internet service on my personal laptop. I also get Internet and emails on my blackberry, and at work I have Internet as well so no need to pay for all of that. Many coffee shops have free Wifi anyways.

4. Cable – this was a tough one, but as a PR person I’m rarely ever home to watch a lot of TV so I got a smaller package – who needs Showtime, Cinemax, etc really?

5. Networking – many of my friends are publicists, journalists and work in entertainment. Instead of going out to dinner, we now get together at someone’s house and each bring a dish, wine, etc. vs. spending a lot to go out every week.

Like you I no longer get mani/pedis, those I do myself, and like you I canceled my mag subscriptions, at least the ones that I can easily do with out.

Yike! Sorry, I didn’t mean to spoil it! OK, I’ll contribute things I’m doing…

Doing exercise work outs from On Demand (they have a whole series!) instead of paying for the gym.

I always have Starbucks Via packets on hand so I’m not tempted to splurge on elaborate coffee drinks or make too much coffee in my coffeemaker.

I use Skype more often for local meetings, instead of always meeting for lunches.

I went to Michaels and stocked up blank (decorate yourself) greeting cards and gift bags and a big packet of gift tissue so I can use them instead of shopping for it at the store, which is always very expensive!

I listen to Pandora now, instead of going on random iTunes benders.

It’s been fun to read everyone’s list, lots of fab ideas!

I ride my bike everywhere. While it sounds trivial, I find that I fill my gas tank up about once every two weeks now, if that. It also cuts down on parking expenses and I get added exercise. When I go to the grocery store, I take a backpack and a lock. I also ride to work as well– the ride home cuts out the need to go to the gym!

Sounds like you’re being sensible, but there’s more you can do.

First of all, GET RID OF THAT LEASED VEHICLE!! Just buy a one- or two-year-old vehicle, purchase the extended warranty and be done with it. What a big waste of money leasing is!!!

If you don’t already have one, get a savings account going and have at least six months’[preferably one year] basic living expenses set by.

How are your credit card and other unsecured credit balances? They should be 0 or close to it, it’s ok to use them but don’t run up huge balances, the credit card firms have raised interest rates to near-usury levels. That’s just money out the window.

Getting rid of that $4 coffee habit will save you a bunch, if you’re able to, take your lunch or if you must go out, order appetizers and water.

Quit buying books and just check them out at the library. Ditto movies. [although I do purchase books, I'm careful about how much I spend. And I use Redbox's $1 rental, although I'm checking out a lot more at the library]

Definitely plan meals and go shopping once or twice a month or so. A tip: Save your coupons for one month, that’s when the items the coupons are for usually go on sale. Double your savings! [what, you don't use coupons? Shame on you...]

I could go on and on but you get the drift. I’ve never made much money but I like living well, so hubby and I have been frugal all our lives and we do live pretty well on what we make. I should start up one of those frugal blogs!!!

Some great tips from all of you – I have much to learn and imitate. Those of you who have cancelled TV/cable – I am in awe. We do have plenty of savings on hand, and Jim B is right – it’s not just about cutting expenses, but investing smartly. I computed the costs of buying a used car over time vs leasing, and leasing won. My monthly payments are amazingly low. (See John Stanley at Tempe Toyota!). I buy mostly wash and wear clothes, so I don’t have any dry cleaning expenses. My coffees fortunately are about $1.50, and we rarely buy expensive packaged or canned goods at the grocery store – 95% from scratch.
I’ll be summarizing all these great ideas on my blog later this week at http://www.lindavandevrede.com If unlike the folks commenting today, you feel flush with cash, I’ll gladly accept your offer for a free coffee (or martini) in the future!

As a graduating communications professional I find this post refreshing and terrifying. It is good to know that the reality of recession is being handled in such an optimistic fashion in my future profession. However at the same time it is a bit concerning because the sacrifices made really demonstrate the scarcity of opportunity and the competition with which I face. However I think I will be okay because soups and stews are healthy affordable meals that can cut out a big portion of your grocery budget!

Jason, as a recent graduate, you’re probably in better shape than the more senior pros. This is not scientific data, but I judge the local market by the volume and types of openings listed in the PRSA job bank. Ten years ago, there were many more senior positions open. Now, it seems to be good positions for primarily graduates with 1-5 years of experience. My friends who are in the worst situations are all in the 30 years of experience or more category. You’ll do fine – didn’t mean to create a panic!

Deb Krol’s ready to roll with a book. Libraries are great. Never had cable. Get first run movies and TV the same night the shows air – online (ch131.com, Hulu, etc.). Not so much due to saving $$$, but time is $$$. Most 1/2 hour shows run 23 minutes online. Let’s say you watch 2 hours a week, that’s a 25 minute treadmill savings. Speaking of that, I pay $11/mo for all Pure Fitness gyms usage valley-wide. Shower there and save the hot water bill at home. Does a body good, too.

Just downloaded the new Timbaland CD at Amazon for $5 – what I would have paid in taxes alone to buy the CD (got Tiffany Giardina when it first came out for $2). Lots of values out there if you shop wisely.

Need to agree with Deb Krol on car, too. I’m shopping. Make sure you take CARE of that leased car. I could be the next owner. Disagree with Ms. Krol also. Do not believe in extended warranties for anything. Thought I did for computer, but never used the three year one I had. The computer was gone in two years. I’m also looking at upgrading my computer; anyone know where I can get a bargain on the NEW Google phone?

[...] Blog readers share money-saving tips for recession By Linda So many PR pros provided tips on my Valley PR Blog post for saving money during this recession that I’ve compiled them into one comprehensive [...]

Instead of cutting back, we’ve just gotten smarter about how we spend our money. My grandfather said “watch the pennies and the dollars take care of themselves.” We invite abundance into our lives by appreciating nice things, working hard for them but not wasting our money.

Changes we’ve made:

1) Save for what we want to buy instead of charging it. By putting money in a savings account we actually earn interest on our purchase.

2) Instead of eating out four nights a week at marginal restaurants we eat out twice a week at a nice restaurant.

3) Got rid of processed foods. They’re more expensive than real food anyway.

4) Get rid of negative people, situations etc. which often lead to less money in the long run.

5) Support locally owned businesses. It may mean a few cents more but in the long run its better to support your community than a chain.

6) Buy only what we can eat so it doesn’t go to waste or going in on bulk stuff with other families or friends.

7) Increased the automatic deductions that go into savings. We don’t even notice those extra dollars but we do love the increase in the balance!

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Oh, what a difference 10 years make

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