The Checkout Chicks

By Melissa Massello, founder of ShoestringMag.com

As we all know, there’s no escaping the economy these days–but that doesn’t mean that we need to hide under the covers until capitalism returns, putting a total spending and enjoyment freeze on our lives. Over at Shoestring, we try to reinforce the attainability of getting that Champagne life on a beer budget every day–not just during the recession–and to always look at the bright side, if not the pride and bliss, of being thrifty.

Last week, we were interviewed for a piece in the New York Post, adding our advice to their 25 Real-Life Tips for Big-Time Savings, and thought we’d share those tips here with you.

Without further ado, here are our 3 Steps to Living The Good Life on a Shoestring:

1. Make a Budget!
It’s not glamorous, but it is really empowering: the first thing we all need to do and so few of us actually do is sit down and make a weekly or monthly budget–an actual dollar amount you have to spend after our bills are paid and rent/mortgage/student loans are taken care of. Then you can prioritize the things that make you happy–whether that’s fine dining or live music or designer shoes. If you know what your slush fund is, then you know how often you can indulge in your vices and stay sane without splurging too much or sending yourself into debt.

Also, and I’m really bad about this but working hard on it, is pay yourself first! When you know your splash cash amount, take 10% and send it directly to savings–or better yet, send your direct deposits to your savings over your checking account and then “pay” yourself your allotted budget each week or month. If you have to wait 24 hours for your ING transfer to Bank of America, for instance, you might think harder about whether or not you actually want that impulse “thing.”

Sign up for a free account with a money management service like Geezeo.com and you can instantly see how much and where you’re spending, and you can set goals for things like having a three-month cushion in case you get laid off, buying a house, or backpacking around Europe, and anonymously find support from their community of members in order to reach those goals.

2. Prioritize Your Vices
Once you focus on your priorities, there are hundreds of ways to save on those things, like using Restaurant.com coupons or making reservations on off-peak times, like Sunday through Thursday instead of Friday or Saturday nights. For the fashionistas, sign up for a free account with private sale sites like Rue La La or Gilt, or sign up for automatic sale notifications on your favorite brands or wish list items with Savvy Circle or Shop it to Me. Use Google to search for coupon codes before buying anything and you can save thousands over the course of the year. For more coupon sites, check out our recent Shoestring article on The Best Online Coupon Sites.

3. Be Resourceful & Practice DIY
There are so many things in your closet, your home, or on your resume that are just sitting around, going unused. Set up a clothing swap with your friends or co-workers–just because you’ve worn something to death or are sick of it doesn’t mean that someone else won’t love it, and vice versa. Recently, hosted a 240-person clothing swap (and sorted about 2,400 lbs of clothes) in Boston with Amy from PunkyStyle.com, a vintage shopping maven if there ever was one. Everyone in attendance walked away with at least one key, free piece of clothing–for me, that was a like-new brown leather blazer from the Gap and a like-new jersey wrap dress from Eva Franco. Check out pictures from our event on Flickr, or follow us on Twitter at @theshopaholics to get updates on public swaps near you.

If you’re too shy to do this with people you know, use an online marketplace like Zwaggle.com, BarterQuest, or Craigslist to offer your cast-off items in exchange for things you need. Same goes for your skill set: Do you play piano or love kids and pets? Offer Saturday piano lessons to neighborhood kids for extra cash, or sign up with a service like Care.com to find babysitting or pet sitting gigs in your area. Making a few extra bucks doing things you already love is a great way to amp up your bottom line. If you’re an artist or a crafter, set up a shop on Etsy.com and you might be pleasantly surprised at what sells.

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Melissa Massello is a journalist and editor based in Boston, MA. She’s also the founder of Shoestring, a new (and free!) national online magazine dedicated to helping people find The Good Life for Less, or that Champagne life on a beer budget. Her fondest childhood memories are of weekends spent scouring TJ Maxx and Marshalls for designer deals with mom and yard-saling for eccentric oddities and vintage goodies with grandma. She never pays sticker price for anything, and is happiest when covered in sawdust and paint, breathing new life into a curbside find.

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