Downturnaround Marketing Tip: Message Boards

According to Forrester Research, marketing budgets shrank 20% or more in the last year. Chances are, yours probably has, too. So, if you can’t spend the big bucks anymore, you might want to consider reaching potential clients through a much less expensive method: the online message board.

A message board is an online discussion area modeled after a traditional bulletin board, where like-minded users can join to talk about common issues and relay their own expertise on a variety of subjects. These forums can be found just about everywhere, and can provide fantastic public, free-of-charge marketing opportunities for business owners in a variety of industries…

Repair or Replace: Which is Better? It Depends.

It’s a question everyone has faced at some point: When a beloved item breaks or wears out, is it a better deal to fix it or replace it?

Since the recession first began, an increasing number of families are going with the latter option, foregoing new appliances and electronics and instead fixing the products they already own at a local repair shop when they break. From cobblers to computer technicians, those working in the fix-it industry say they’re seeing more business than ever before.

Unfortunately, not every broken item may be worth saving…

Dating on a Dime

Let’s face it: The economy may be improving, but blast that lagging economic indicator—unemployment is around to stay, at least for a little bit. And while you may have plenty of time on your hands, the reality is that, more likely than not, your pockets will be a little bit emptier than desired.

Never fear, necessity is the mother of invention! And there are plenty of ways you can save money on a date (without looking like a cheap skate). Clever, low-cost date ideas will get you out and about in the world with your sweetheart and allow you to get to know each other better than any fancy-schmancy dinner could ever facilitate…

10 Deals for Back to School

There are lots of ways to cut back on your back to school budget — you might, for instance, do a full inventory of any pencils and scissors you have in the house. But if you do have to get to the store for some missing items, you’ll find lots of retailers are eager for your business. According to the National Retail Federation, back to school spending is expected to fall by 7.7 percent this season, while more parents report plans to purchase hand-me-downs at secondhand stores (though they’re also expected to increase spending on electronics, like laptops, by 11 percent).

The big chains are doing all they can to encourage you to buy from them at any price. And the government hopes to help, too, as several states are offering “tax holidays” for back to school shopping (see a list of states and dates here). We’ve compiled a list of some of the best deals out there…

No New Plants, Period.

Gardening, after storms and the economic downturn, is akin to living with the dogged devotion of a Mets or Red Sox fan. As I wander through the garden and see the places crushed by the ice storm or rotted by the ceaseless rain I say to myself, “Wait until next year.” I say this too as I leaf through garden catalogs and dog-ear the pages. I know I can’t buy anything because I am on a recession diet: NO NEW PLANTS, PERIOD.

The economic downturn hit our house hard when I lost my part time editing job and our health insurance in March 2008. Then the stock market debacle turned our savings into dust. My response was denial; I just refused to open my account statements. It is possible to practice denial in dealing with retirement or college tuitions accounts, but I had to walk out my front door and no amount of denial would allow me to over look the havoc wreaked on my garden.

The first thing I had to do was clean up the disaster. Then, since I am known to be a positive, plucky person, I decided to make gardening in a time of recession into a game, a challenge. How to garden when there is no money for plants or accoutrements? Not a penny. Luckily plants divide, unlike stocks of late, and what the economic community call “the green shoots of growth” seem to abound in the garden. I just had to learn to notice…

Comparing Sharing: Should You Rent Handbags, Movies and Pets?

Mom always told you to share. But it turns out her advice might not always be best—at least, not when it comes to saving money during a recession.

According to the Washington Post, companies with a business model based around the concept of sharing are faring well lately, with car services like ZipCar seeing a 70 percent bump in membership since last year and the book-swapping website BookMooch increasing its membership roster by 30 percent.

While sharing sure sounds recession-friendly, we couldn’t help but wonder if it works out as well for the people doing the sharing as it does for the companies themselves. To find out, we’ve did the math on some of the most popular sharing-based businesses.

HANDBAGS
For a monthly membership fee of $5 to $15, sites like Bag Borrow or Steal and From Bags to Riches let users rent handbags for months at a time. But membership fees aren’t all users have to pay, since actually renting the designer purse can cost an additional $20 to $200 (or more!) per month…

How Colleges Can Save You Money

Remember college? The late night study sessions, the lack of responsibility, the keg parties, and—best of all—all the stuff you used to get for free. (Or at least, it seemed free.) Who knew prescription medications and gym memberships would be so expensive in the real world?

You don’t need to re-enroll to take advantage of the many discounts given to college kids. Many universities offer reduced (or free!) services to alumni and non-students, too, assuming you’re willing to work out in a gym surrounded by 20-year-olds. Some of what you can get from campus…

Six Splurge-Worthy Buys

At this point, we’ve all heard about bargain shopping in the recession—the budget buys, the sample sales, and the deals we can’t wait to see pop up. But what about the things that never make it to the sale rack? Are we just supposed to do without?

In short answer: No. At least not according to “experts” like personal shopper and stylist Jill Markiewicz, who tells Forbes that “buying a few expensive pieces that you truly want” can actually save you more money in the long run than picking up “a bunch of discounted items” at sample sales all over town.

Of course, Markiewicz’s ideas of necessary buys included Hermès bags and $115,000 Porsche Panameras, which don’t really fly for those of us living on Planet Earth.

So what types of purchases are worth splurging on and paying full price, even during a tight economy? As they say, you get what you pay for, and some areas can’t be scrimped on, no matter what kind of economy we’re living in. Here are a few…

Recession Briefing 7.7

What you need to know today to survive and thrive in the recession.

Sperm banks and donor agencies say the recession is prompting a surge in calls from people who hope to make money by donating their sperm or eggs. (USA Today)

Pamplona, Spain, is known for daredevils sprinting with one-ton fighting bulls. But a new brand of jitters has set in at one of the world’s great fiestas as businesses ponder the partypooping impact of economic woes. (Associated Press)

A group of the biggest U.S. banks said they would stop accepting California’s IOUs on Friday. (Wall Street Journal)

How Much for that Item in the Window? 25 Weeks.

If the recession hasn’t obliterated your non-essential spending altogether, how do you determine whether you can afford the fancier restaurant, the better suit or the weekend away? Most personal finance metrics take a monthly view on budgeting — how much money is coming in minus cost of regular monthly expenses (rent, utilities, groceries, etc.). Whatever is left over is usually recommended for savings. That’s when your own math comes in — of the amount left over, how much can you spend on the better life? And that’s between you and your conscience — or, uh, your personal budgeting philosophy.

But My Two Dollars has another view, one that while clever and perhaps effective in keeping spending fantasies in check, may also induce more guilt and a sense of burden: Tallying the number of work hours required to cover the cost of desired purchases. Here’s how it works: Say you earn about $50 per hour. If you’ve got your eye on a $38,000 BMW, that would cost you in cash, after taxes, about 1,000 hours, or 25 weeks of work ($50 x 25% taxes = $38/hour) — and that’s without laying out for food and shelter. Ouch…