Are you cutting back on the unneccesary?

  • Posted by a hidden member.
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    Oct 14, 2008 8:40 PM GMT
    With the unstable job market, financial industry and money tightening up for most people ... what are some things you have started doing or habits you have changed to reduce the amount of money you spend?

    For myself, I have cut back on several things. Here are a few:

    1. I have started drinking from reusable water containers rather than buying tons of bottled water.

    2. I have started to cook more rather than eating out all the time, and I cook meals that last for more than jstu one sitting.

    3.I still buy things I dont need like DVDs but not nearly at the rate that I used to.

    4. I used to get a body massage every two weeks... my last one was in the beginning of August lol.
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    Oct 14, 2008 9:55 PM GMT
    I have to say. Life still goes on as normal. I lived and worked though the last recession, and did my best to keep things, as they were before. yes this was a wee harder, as where my house shopping may of been about $150:00 a week, and that went up to maybe $250:00 a week. I still did my best to have all the things I needed, and wanted. I will do the same again.

    I also this time around have 3 dogs, and 2 cats. Its hard to cut back on what they need. Just their flee stuff cost me just over $400:00 yesterday, and we all need them to have that!
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    Oct 15, 2008 2:01 AM GMT
    nothing in my life has really changed at this point, the stock market fall was a serious blow, but, all in all, I still live the life I want.. I think the only thing thats really changed, is that I don't get as many sessions with my trainer as I want, but thats really because hes so freakin expensive!

    Good on the bottled water though, least of all the cost to you, but the environmental cost is HUGE, them bottles don't break down AND they leak all sorts of wonderful crap into the water you drink!

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    Oct 16, 2008 2:09 AM GMT
    I've always lived below my means so it really doesn't make much difference to me.

    I'm the only support system I've got so I plan accordingly.
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    Oct 16, 2008 2:33 AM GMT


    Yeah, I've mad dramatic changes. I've brought my debt to zero, which is not a difficult thing for me to do. And I'm likely adding to the trouble as I'm able to bring my income down and sit till the ill winds blow by.

    Always best to be prepared.
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    Oct 16, 2008 2:37 AM GMT
    It's affected us not at all. Except that local merchants, restaurants & bars are much more happy to see us, because their business has dropped way off here in South Florida. It seems we're among a shrinking minority that still has money to spend.

    Our income level is unchanged, both of us retired and very sound financially. No debt whatsoever, all secure assets and no liabilities.

    But I may need to look at setting aside some money for my in-laws who are not doing so well. My brother-in-law is (was??) a millionaire, and has already lost hotels, a couple of his homes, most of his prized car collection.

    And my sister-in-law told us on Monday she had lost a fortune in stock value last week. I don't want my partner's brother & sister to suffer because of this crisis, and if I can help them I will.
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    Oct 16, 2008 11:46 AM GMT
    i think cable tv is unnecessary... i dropped cable tv about a month ago and have had no regrets.
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    Oct 16, 2008 12:20 PM GMT
    I am having my cable turned off tomorrow. I'm not eating out as much. I've cut back on Starbucks by 75% - I admit I still go on Saturdays/Sundays as a treat. My grocery bill is finally back under control after losing everything during the blackout. I did the math and converted to frozen fruit instead of fresh. All the research says, Same nutrition, less cost - and it's true.
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    Oct 16, 2008 12:59 PM GMT
    RunintheCity saidI am having my cable turned off tomorrow. I'm not eating out as much. I've cut back on Starbucks by 75% - I admit I still go on Saturdays/Sundays as a treat. My grocery bill is finally back under control after losing everything during the blackout. I did the math and converted to frozen fruit instead of fresh. All the research says, Same nutrition, less cost - and it's true.


    no Starbucksicon_exclaim.gificon_cry.gif

    I'm cutting back on coffee but due to health issues. It's awful. I miss my two coffees a dayicon_sad.gif

    But I still go there every day

    I have made some calculations, and if I continue going to Starbucks as often as I go now, I would be spending enough money to buy a house in 15-20 years. icon_eek.gif
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    Oct 16, 2008 1:32 PM GMT
    muchmorethanmuscle saidYou can buy used DVDs at a fraction of the price brand new on amazon.com. It's great. I buy like 4 at a time for about $25 with shipping included. That's just a tad over $6 a DVD.



    yah... i do this a lot... i also shop at second hand dvd stores now lol.
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    Oct 16, 2008 1:57 PM GMT
    we have cut back, we cancelled our Sunday paper (save $14 per month), dry cleaning ($130 per month), changed phone lan service (saved $25 per month), swithc to directv over comcast (saved $60 per month), reduced eating out to only twice a month (saved $140 to $160 per month. Also do more shopping at the Haymarket (farmers market in Boston) to get better deals on fruit, veggies, herbs, spices.
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    Oct 16, 2008 2:13 PM GMT
    I'm just trying to be a little more conservative with everything. Not soo much clothes. I haven't bought any jeans in like 3 months. Definitely cooking more, packing my lunch for work. Netflixing more than going to the movies. Stuff along those lines!
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    Oct 16, 2008 3:34 PM GMT
    Yes, we started to cut thing off from the monthly bills:

    1. Netflix- instead of 3 movies, down to 1
    2. Got only the Sunday paper to use the coupons.
    3. Carry my own bottle of water at all times instead of buying bottled water.
    4. Purchased my own coffee/tea maker for the office. No more Starbucks for me.
    5. Also looking to move out of our current place and move into a bigger place but share it with some friends so we can cut down on rent.
    6. Out of 4 credit cards, down to just one, cut the other 3 so I will not charge anything on them.
    7. Actually using my savings account and not taking anything out from it.

    It is getting tough. I have friends with PhDs and MA/MS that have been looking for a job for 6 months and they cant find anything. One of them is now a cashier at Target. A PhD in physics and she cant get a job anywhere else.

    It is going to get worse before it gets better.
  • vindog

    Posts: 1440

    Oct 16, 2008 3:53 PM GMT
    I stopped drinking alcohol, not so much due to the economy but for mind/body health. Drinking club soda and lime is way cheaper, thus I'm sure I'm saving a lot of money since they usually give it to me free and I just tip them.

    and I'm down 3.5% body fat in the last 5 weeks, another bonus.

    Otherwise, I guess I eat out a little less, but that is also a by-product of getting my body back.








  • DuggerPDX

    Posts: 386

    Oct 16, 2008 6:14 PM GMT
    Yes we have done a few things, lowering our debt load and moving to all cash spending, if we don't have the money in the bank to cover the purchase then we don't need it. Luckily my partner is in a very recession proof industry, health care, so we aren't as bad off as say a realtor or investment banker.

    Our philosophy right now is to hunker down for the long haul. I read an interesting quote in Money magazine from Warren Buffett, "the stock market is designed to transfer money from the active to the patient". I think it's prudent to be patient right now.
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    Oct 16, 2008 6:16 PM GMT
    I am naturally a frugal person. I rarely buy what I do not need. The only times I splurge is when I eat out and when I travel. I also need a new computer soon, but I am not going to spend a lot, I don't need to for what I use the computer for. I very rarely use the car, but walk every where or take transit (my partner on the other hand...).