These are difficult economic times, but there are many ways to survive and remain in healthy financial shape. Flair asked our special anniversary guests to share with us 24 tips to cut cost and save money.

1 Carpooling saves on expensive petrol.

2 Bulk purchasing, especially non-perishable items.

3 Turn off and unplug electrical appliances when not in use.

4 Do a proper meal plan so you can shop more wisely.

5 Curb spontaneous or impulse shopping.

6 Pay credit card bills on time to avoid interest costs.

7 Consider changing your SUV to a smaller car to conserve on the cost of gas, especially if you only bought one to keep up with the Joneses .

8 If your shoe heel or tip is scuffed, instead of throwing them out, repair them. It is much cheaper to repair them than buy a new pair.

9 Take care of your clothes, follow cleaning tips on tags.

10 Make some of your own food items such as condensed milk, fruit drinks, etc.

11 Practise living a healthier lifestyle and you will go to the doctor less frequently. Doctors' fees are very high, and so is medication.

12 Rather than paying between $3,000 and $4,500 to attend a party, entertain at home. Invite friends and let each bring a dish.

13 Reduce making phone calls and start sending text messages more.

14 Go back to basics. Instead of purchasing a $15,000 outfit, buy the material and take it to the dressmaker.

15 Take a holistic approach to shopping. When you go to the supermarket pick up only things you need.

16 Buy local produce instead of imported items, because local products are cheaper for the country.

17 Rather than buying 'brand name' food items, buy generic items instead.

18 Learn to be happy with what you have. Many times we fuss about getting a new pair of shoes or outfit when there are several in the closet. Learn how to mix and match older pieces with new ones, and accessorise.

19 Grow something in your backyard, even a few stalks of callaloo, it will save you from purchasing it at the market or supermarket.

20 Iron everything at once rather than daily.

21 Instead of throwing out stale fruits, use them to make drinks, pies, preserves, etc.

22 Don't let banks talk you into a higher credit card limit; keep a limit you can manage.

23 Make saving money a habit.

24 Eat out less and cook more at home, now is a good time to wean the children off junk food.