Tips For A Down Economy

Throwing out an old birthday card or torn pantyhose?

Not so fast! The Old Farmer's Almanac has some ideas for putting that stuff to good use and saving money in the process.The almanac had a contest asking readers how to save money in a bad economy, and the first place winner Elizabeth Gortemoller suggested re-using the idea of re-using old greeting cards. Gortemoller just added a new date at the bottom, and sent it to someone new-- and it actually became a way for family and friends to remember old birthdays and re-read entertaining messages.

Third prize went to Regi Johnson, who re-uses ripped pantyhose by cutting off the bad leg of two pairs and wearing both good legs at once. The almanac also touts sharing cars, saving coins in jars and chewing a lemon peel to freshen your breath.

Janice Stillman, editor of the Old Farmer's Almanac, told Here & Now's Robin Young that a few years ago there was a sense that people were on a buying binge that had to come to an end. "There was a lot of talk about how long can this go on and people really need to simplify and what can we do with all this stuff," she said. "I think we're finally in that mode." Stillman added, "Speaking of saving money, remember that the man who rolls up his sleeves seldom loses his shirt."