
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SUNDAY, March 25, 1990                   TAG: 9003231740
SECTION: BUSINESS                    PAGE: B-2   EDITION: METRO 
SOURCE: DEBORAH EVANS BUSINESS WRITER
DATELINE:                                 LENGTH: Medium

SOME CONSUMER TIPS TO HELP YOU SLEEP

When a recession occurs, a lot of people find themselves out of work. And because the unemployed can't spend money they aren't earning, they stop buying and that puts more people out of work.

Although most economic analysts are saying that a recession is unlikely, they are predicting little or no economic growth. In either case, there are steps consumers can take now to protect themselves in uncertain economic times.

Charlotte Kidd, an agent with the Roanoke City Extension Office, offers these suggestions:

\ Cut expenses: A good way to do that is simply not to make new purchases of non-essential goods or services until debts are paid. Day-to-day expenses, including food, clothing, transportation, utilities, and telephone bills can be reduced.

\ Buy less on credit: The dollars spent for interest charges might be better used to pay off debts, save, or buy other goods or services. Pay off high-interest charge accounts with a low-interest loan.

\ Carry less cash: Avoid the temptation to make impulse purchases by carrying less cash and leaving credit cards or the check book at home.

\ Plan purchases: Buy when sales allow the greatest savings.

\ Rent rather than buy: Expensive, rarely used items such as lawn and garden care products are examples of products that can be rented to save money. Several pieces of equipment can be shared among neighbors, with sizable savings.

\ Evaluate financial services: New laws allow banks, savings and loan associations and credit unions to offer similar services. Examine these institutions to see which offers the most at the least cost.

\ Plan ahead: Save a little each month for irregular expenses such as insurance, car license tags and gifts to avoid paying a large bill out of current income.

\ Evaluate insurance: Insurance can be expensive, but dropping coverage may not save money. Shop around instead. Premiums for the same level of coverage may vary as much as 50 percent to 100 percent. Paying premiums annually or semi-annually usually is cheaper than paying monthly.

\ Involve family members: It is difficult for family members to go along with new plans for spending money if they don't know why it is necessary.

by CNB