More Men are Out of Work than Woman: How to Make It, By Learning to Live on Less

As a country many of us are facing the challenge to learn to live comfortably with less.  A recent BusinessWeek article provides two sobering statistics about how men are being affected by the widespread unemployment rates:

  • 71% of jobs lost were by men.
  • Male unemployment is at 9.8%. Female unemployment is at only 8%. (An almost 2% difference!)

If your family is serious about cutting back to either survive or to save more money every month your first step is learning to be comfortable without many of the customary trappings of a traditional middle-class life.  Think about cutting your spending on unnecessary items like jewelry, clothes, makeup, movie rentals, music downloads, vacations, and that four-dollar daily cup of coffee.

And while we’re talking about drinks let’s talk food.  That eleven dollar lunch and dinners out with friends will need to end, or perhaps be cut down to once a month.  The National Food Service Advisors says restaurants are making roughly 60% on anything they serve, that’s a lot of money you could be saving.  If you feel like you absolutely have to eat out then ask your server for a doggie bag.  Divide your meal in half and take it home for tomorrow’s lunch or dinner.  And while you’re at the grocery store you can save up to 40% by purchasing store brand items.

In your home small changes can add up to big savings without you barely noticing the changes.  Bump you’re A/C up one degree and close off unused rooms to save on cooling.  Wash your clothes in cold water and take advantage of our warm, sunny weather by air drying them instead of using your clothes dryer.  And swap out those light bulbs with energy-efficient ones to help save on your electric bill.

These are just a few suggestions, the bottom line today isn’t like earlier recessions, and the bounce back is going to take a lot longer.  And along with changes to your lifestyle you may have to swallow your pride and accept help from family members or friends while you get back on your feet.  Just remember, stay focused and penny wise and you’ll weather the rough patch.