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&lt;p&gt;The year is about to come to a close and we are no closer to an economic recovery than we were in September 2008 when the fiscal crisis first began.&#160; Whether you are employed, underemployed or unemployed, here are some tips that might be helpful when trying to save money in difficult times.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Take a look at your current situation.&lt;/strong&gt;&#160; The moment I first became unemployed, I immediately took a financial snapshot of my life, at the present and moving forward.&#160; I looked at my savings and then added up how much I would be making on a weekly basis in unemployment.&#160; I added up all my bills and estimated how much I would spend on groceries every week.&#160; Seeing what you have, what you will make and what you will be spend allows you greater insight into your economic future.&#160; Make a chart if you have to.&#160; It is very helpful and will prepare you for what’s next to come.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Cut back on expenses.&lt;/strong&gt;&#160; After you see what you are spending your money on, it’s time to make cuts.&#160; You have to start asking yourself questions.&#160; “Do I really need HBO?&#160; Do I even need cable at all?&#160; How often do I use my Netflix account?&#160; Is there a way to cut back on my cell phone plan?&#160; How can I save on electricity?&#160; How much will I save if I start cooking more often and making coffee from home?”&#160; The idea is to save as much money as you can without ruining your life if possible.&#160; You are allowed to still have fun, but during tough times, sacrifices are necessary.&#160; It allows you to last longer in your current economic situation.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Budget better.&lt;/strong&gt;&#160; The initial cutting back on expenses needs to be followed by continued budgeting.&#160; Create a plan of action on how you will pay for expenses and figure out a way, if possible, to save what you can for a rainy day.&#160; Knowing what you can and cannot spend on a weekly basis is important, because you don’t want to overspend on something and freak out when you realize you don’t have enough money to pay the electric bill that month.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Automate your savings.&lt;/strong&gt;&#160; If you budget your money and know you can save even $50 a week, don’t let that money tempt you by sitting in your checking account until you manually move it into savings.&#160; Find a bank that offers a great interest rate on your savings and then set your account up where it automatically takes the $50 from your checking and moves it into savings every week.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Stop paying with debit cards.&lt;/strong&gt;&#160; It is so easy to just whip out your debit card for every little purchase you make, but you realize quick that all those little things add up.&#160; I got a new credit card recently with the goal to use it so I could acquire miles for a trip I want to take next year.&#160; Instead of using the debit card I had, I used the credit card and when I received my monthly statement, I was pleasantly surprised at how many miles I accumulated, yet disturbingly shocked at how much I spent when not paying attention.&#160; It was a big wake-up call.&#160; By taking out cash and sticking to your budget, you will never over-spend.&#160;&lt;/p&gt;&lt;p&gt;&lt;strong&gt;Decide on big goals.&lt;/strong&gt;&#160; I knew I was going to be unemployed (read the story here). &#160;I decided I wanted to enjoy one last trip.&#160; I had six months before my job ended, so I saved as much as I could and then looked around and found cheap flights and hotels for Las Vegas.&#160; I booked a small trip with my girlfriend and we had one last hurrah before I became unemployed and needed to really buckle down.&#160; The best part was, I didn’t use all my savings at all and barely gambled any money away.&#160; I just had as much fun as possible and during my bout with unemployment, I looked back at that time and it helped me get through a rough year.&#160; Some people cannot do this.&#160; It’s just financially impossible.&#160; But you should always have some goal and try your best to save for it.&#160; This way, if your financial situation improves, you can celebrate a little.&#160; After roughing it, an opportunity for a little frivolous fun is something you earned.&#160;&lt;/p&gt;&lt;p&gt;&lt;em&gt;&lt;strong&gt;--Jon Minners, Vault.com&lt;/strong&gt;&lt;/em&gt;&lt;/p&gt;

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