HOW can the unemployed cut down on their expenses and save money during this economic crisis?

When I was jobless, my family came up with a list of things that we could do without - some of which we still refrain from indulging in.

You can save a substantial amount over time by going without some little luxuries.

They are:

Movies

A ticket costs $9.50 on weekends. My family saved around $30 a week by not going to the cinema.

Savings: $120 per month

Dining out

We liked pampering ourselves occasionally when I was doing well but the downturn discouraged us from eating at posh restaurants. Foodcourts are decent eateries and coffee shops sometimes have cheap and good food.

Savings: $150 per month

Holidays

These are big-ticket expenses. We stick to cheap holidays in neighbouring countries if we absolutely need a vacation. We do not spend more than $500 a trip, compared to the times when we travelled to Australia, New Zealand or Europe, and spent about $3,000.

Savings: $2,500

Car

I have never owned a car. It is a drain on finances.

Savings: $700 a month.

CDs and DVDs

I stopped buying CDs and DVDs. I borrow books from the library or buy them from second-hand bookshops.

Savings: $100 a month.

Mobile-phone plan

I use a pre-paid SIM card which can be topped up. It is affordable and I can controlmy usage as I can track the balance of the card's value on my phone.

Savings: $50 a month.

Maid

My family had a maid for about two years. My daughter was only seven then and needed someone at home to care for her. However, we realised that we could perform most of the maid's duties and placed our daughter in an after-school childcare centre when she was 10.

Savings: $700 a month.

Frequent grocery shopping trips

If you buy groceries in bulk you can save quite a bit. You can benefit from discounts given by supermarket chains such as Giant, Carrefour and NTUC FairPrice if you shop weekly in bulk.

There are many ways to stay lean, but we do not need to resort to miserly behaviour.

Though cost-cutting is important, we also do not want to make too many abrupt changes to our lifestyle.

That would result in misery - as if it were not hard enough being out of a job.

If you decide to catch a movie to unwind, go for it. Nevertheless, tough times need tough cost-cutting measures. There are no two ways about it.

Mr Gilbert Goh Keow Wah

For more my paper stories click here.