Cost-conscious consumers For many Americans like Hill,


the New Year has ushered in an era of mindful spending. About 51% of respondents in a fall 2011 Time magazine financial values poll said they will consider purchases carefully over the next five years, 83% said the economy has caused them to be more cost-conscious in the long run, and 85% said they spend more time looking for deals and discounts before making purchases. Tim Everet (BS11), Washington,


D.C., can relate to the findings. “I always look for sales,” said Everet, a former Presidential Scholar and current federal employee. He also has a head start on a


retirement account. . . at the tender age of 23. “It’s never too early to plan ahead,” said Everet, who credits his parents and EMU economics professors for his financial foresight. Valerie Alexander (MA10), 29, a


Vandercook High School math teacher, also uses her math skills to calculate her family’s personal savings. She and husband Wil Alexander live in Jackson


Corporate Cost Savers


Want to chop $1,000 from your corporate budget? If you own a small business, consider breaking it down to manageable chunks: look for 10 ways to save $100, or 20 ways to save $50. Below are some suggestions:


• Turn off computers on nights and weekends; each computer shut down will reduce your electric bill by at least $25 per year.


• Negotiate with your long-distance phone service provider for lower rates. Most have customer loyalty rates.


• For each degree you dial your corporate thermostat down, you will save 3-5% on the heating bill.


• Email statements rather than use the post office.


and have three children. “Te recent recession and slow economic recovery have inspired us to be extra cost- conscious,” she said. To save money, the couple order


three month’s worth of prescriptions at a time to get the fourth month free and they shop for large quantities at bulk


Personal Cost Savers I


nterested in cutting costs and increasing your bank balance?


Consider some of the options below:


• Dial down your heat. This year, Americans will pay about 15% more in heating bills—an extra $150 on average—because of higher fuel costs. For every degree that you set back your residential thermostat, you’ll save about 2-3% on your residential heating bill.


• Take the brown bag challenge. If you usually eat out, pack your lunch three days a week instead. If you save $7 per lunch three times a week and deposit


• Sell unused equipment on eBay; you’ll be surprised at what sells!


• Install motion-detecting automatic shutoffs on lights in rest rooms, break rooms, and conference rooms.


• Eastern’s Mark Jefferson Science Building is a beautiful example of energy-efficiency on a large scale. The five-story green design and construction project has a green roof, radiant cooling, and metal shades, among other features.


• For more online corporate cost-saving tips, see: http://www.entrepreneur. com/article/71318.


Sources: Consumer Reports, EMU press releases, and online cost-saving resources.


discounts. Alexander also consigns the family’s used clothes at a local resale shop, reaping extra dollars. Unsold clothes are ultimately donated to charity. “Saving and making money are


important, but so is contributing to worthwhile causes,” she said. “Tere’s no reason you can’t do both.” 3


used name brand merchandise for a fraction of the cost.


your savings in an interest earning account, you’ll make $1,050 per year plus interest.


• Use the library. Get a library card and gain access to best-sellers, newspapers, magazines, CDs and DVDs—all for free!


• Entertain at home. Almost every activity at home is less expensive than going out. Plan a potluck, play cards or host a movie night with friends and neighbors.


• Frequent resale shops. Many resale and consignment shops offer gently


•Master the 30-day rule: Wait 30 days before making a purchase. You may find the urge to buy has passed you by!


• Request discounts on everything from cable to trash service. Providers often are willing to cut prices in order to keep customers.


• Take advantage of online websites. For more personal money-saving tips, see: http://www.moneysavingtips.org/


Sources: Energy Information Administration, EMU alumni, National Association of Resale & Thrift Shops, and online “cost-saving” websites.


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