Older methods of saving money become new trend

With belts tightening, more consumers may be considering some old-fashioned methods for budgeting and saving money.

A recent post on SmartMoney.com’s Deals of Day blog noted that consumers have turned to methods such as haggling and bartering when it comes to obtaining goods and services. The blog did note that strategies for saving money come in and out of fashion.

“Old savings strategies are seeing a resurgence, and some of the most popular tactics – couponing, layaway and haggling – date back to prior recessions,” the blog noted.

Though bartering has been around since ancient times, consumers have put a new modern twist on it. Online classified advertising sites like craiglist.org give consumers the opportunity to offer goods and services for trade through the web.

Along with haggling and bartering, consumers are turning to layaway programs when trying to deal with their personal finances. Major retailers like Sears and Kmart have increased advertising for their layaway programs.

Coupons are also becoming popular. According to a recent report from the Associated Press, many people are turning to electronically-based coupons, which can be downloaded to cell phones or delivered by e-mail.