Economic downturns are never especially fun, but as Adam Smith noted centuries ago, these cycles of paucity and plenty are a fact of life. Though no one can say for sure when this most recent slump will reverse, there are at least sure ways of stretching your cash in the meantime. Here are some penny-preserving ideas tailored to our 21st-century lives:

1. Plenty of people are in the habit of cutting out paper coupons, but even though many of us do part of our shopping on the Internet now, not as many of us seem to have gotten into the habit of coupon-hunting on the Internet. Sites such as CouponCabin.com, CouponMountain.com, and DealofDay.com list thousands of current offers at merchants all over the Net.

2. Use price-comparison websites such as Shopping.com, Pricegrabber.com, mySimon.com, and Google Product Search to find the best online deals.

3. When you’re at a brick-and-mortar store, send a text message to 46645 (Google’s text number) and enter the letter “f” followed by the name of the item you’re looking at. Google will reply with a text message quoting its online prices. To compare prices at local stores, visit ShopLocal.com.

4. If you don’t already belong to one, consider joining a warehouse club such as Costco or Sam’s and buying in bulk. This can be especially helpful if you have a sizable family.

5. Buy generic instead of brand-name products. A lot of the difference is often in the marketing hype and not the product itself, anyway.

6. Withdraw your cash from surcharge-free ATMs, which can be located on AllpointNetwork.com and MoneyPass.com.

7. Buy locally-raised food at farmer’s markets or stores that sell local produce. Prices there are often lower since the food doesn’t have to be transported very far.

8. Shop at dollar stores. You shouldn’t have a difficult time finding them nearby since they’ve been turning up all over the place in the recent past.

9. Purchase discount prescription drugs at online pharmacies. You’ll often end up paying well under half as much for the generic medications carried by these discount prescription drug stores than you would for the same brand-name medicines at brick-and-mortar pharmacies.

10. If your car is seven years old or older and/or worth less than $2,500, consider dropping comprehensive and collision from your insurance.  Your deductible may be closing in on the value of your car anyway, in which case a major collision would send your car to the junk dealer and you to the dealership.

11. Keep cell-phone expenses under control. Kids today love to send text messages, so save yourself from unexpected high bills by paying the flat monthly fee for unlimited text messaging.

12. Use online classifieds to find used items. Sites like CraigsList.org and Kijiji.com are excellent resources for finding everything you need, from vintage furniture to baby gear. By buying from local sellers, you can save on shipping costs as well.

13. Go to matinees. The matinee showing is usually more reasonably-priced than peak-time showings.

14. Install Power Planners (see www.energycsi.com/energysmart) to lower the electricity consumption of your electrical appliances.

15. For your next date, have a romantic picnic instead of going to a high-end restaurant. Pack a blanket and a cooler full of your favorite foods and you’ve got yourself a cheap rendezvous. Spice it up a little with a bottle of wine.

16. Instead of buying software, look for (legal) free software from websites like Download.com and SourceForge.net. Depending on how you use a given type of software, the free alternatives will frequently be just as good as the paid versions.

17. If anyone in your house is a student, pick up the Student Price Card from SPCLive.com. It’s only $8.50 and it will get the holder 10% to 15% discounts in scores of participating stores.

18. Control your thermostat. Using a programmable thermostat to adjust the temperature will reduce energy usage when you’re asleep and out of the house. Prices range from $30 to $120, but you’ll reduce your bill by 10% to 20%.

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One of the biggest problems facing people who have with money is knowing how to manage it. Though you may think that not having enough to pay the bills is something that happens when you simply do not make enough money, you should know that there are many other contributing factors especially in today’s economy.. There are many who have great incomes, but they don’t know how to manage their money. Their financial management skills are {no good, or simply do not exist}. This often comes from parents who had the same problems. We learn by example.

Impulse control, or rather a lack there of, is normally one of the biggest reasons why people have difficulty with personal financial management. There are many reasons for this, but most people have problems because they have no patience. That is something that our grandparents and great grandparents would find to be unacceptable. If they wanted something they couldn’t afford, they saved for it. Most people refuse to live like that today.

When you total up how much you make, and then total up your monthly bills, you can see if you truly should be having a problem with your financial management or not. Many find that they look at the totals and have no idea why it is that they can not seem to get caught up and current with their utilities, rent, or mortgage. Even with the rising prices of gas and food, things should never be as bad as they are for some families. What is needed is a good plan for financial management, even if it means hiring someone to help.  There are tons of finanical planning books and guides written about financial planning.

Many times a professional financial planner is well worth the investment in time and money.  Considering today’s economy, most all of us can benefit from an experienced financial planner looking over our situation.  Our first step should be to do a bit of research on our own about personal financial planning.