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View Poll Results: What Are YOU Cutting Back For the Economy? (Choose As Many As You Want)
Smaller House or Apartment 15 23.08%
Get Rid of Pets 2 3.08%
Private School for Children 6 9.23%
Older or Smaller Car/ No New Car 29 44.62%
Boat/ RV/Motorcycle or Other Vehicle 7 10.77%
Internet/Cable or Satellite TV or Radio 11 16.92%
Wal*Mart Instead of Grocery Stores or Dept Stores 17 26.15%
Cell Phones/ Home Phone 4 6.15%
Delay Retirement 14 21.54%
Delay College/ Children's College 4 6.15%
Not Taking Vacation/ Vacation Close To Home 34 52.31%
Stop or Cut IRA Contributions 13 20.00%
Other 16 24.62%
Multiple Choice Poll. Voters: 65. You may not vote on this poll

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Old 03-02-2009, 10:50 PM
 
Location: Chicago, IL
8,998 posts, read 12,769,903 times
Reputation: 3536

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Quote:
Originally Posted by KevK View Post
While it is true we all need to make responsible decisons ourselves, we also should consider how our decisions effect those around us. For example, if you decide to quit eating out at McDonalds or Wendy's, it probably will not end your local outlet. On the other had, if you and the wife eat out once a week at a restaurant which is owned by the person at the cash register, he may not be in business next year. You have to think of that business owner, his family and employees too.
I have been making a more conscious effort (even before the recession) to dine at locally owned restaurants. I'm not saying I've completely stopped eating at chains but I spend more money at the locally owned restaurants.

I know restaurants around here report that visits are somewhat down and customers are spending less, it isn't as bad as in other places. I still see lots of people going out to restaurants but I know in more rural parts of the state...that probably isn't true.
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Old 03-03-2009, 01:28 AM
 
812 posts, read 2,080,198 times
Reputation: 467
i'm going to start printing my own money.
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Old 03-03-2009, 07:41 AM
 
Location: USA
3,966 posts, read 9,159,197 times
Reputation: 2197
I checked what am i willing to cut back, not what i have already cut. I can live in a 10x10 storage shed with no windows as long as there is music speakers, electricity, water, a pooper, and food. I can listen to music all day and not give a damn. It's the wife that needs tv, internet, pets, clothes, ect.
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Old 03-03-2009, 03:25 PM
 
16,092 posts, read 35,802,339 times
Reputation: 6264
Hey they are called "Black-eyed Peas" not cowpeas!

Homesick Texan: Black-eyed peas for New Year's Day
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Old 03-03-2009, 04:38 PM
 
3,651 posts, read 8,118,555 times
Reputation: 2747
I'll live within my means regardless of my situation. If I'm gainfully employed, I'll live accordingly. If I'm laid off, I'll live accordingly (cutting back as applicable but probably little in the short term). I enjoy my comforts but most are pretty basic and I'm not generally the type to **** away money anyway....not a keep-up-with-the-Joneses type either ie couldn't care less about having the latest electronic gizmo glued to my head, sure as hell don't need a 40" + TV, don't eat out much (etc).
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Old 03-03-2009, 04:47 PM
 
3,651 posts, read 8,118,555 times
Reputation: 2747
Quote:
Originally Posted by KevK View Post
While it is true we all need to make responsible decisons ourselves, we also should consider how our decisions effect those around us. For example, if you decide to quit eating out at McDonalds or Wendy's, it probably will not end your local outlet. On the other had, if you and the wife eat out once a week at a restaurant which is owned by the person at the cash register, he may not be in business next year. You have to think of that business owner, his family and employees too.
? I don't have any stats offhand but I'd bet that franchises are typically owned by people who live locally. I'm all for supporting local establishments and blowing off the big corp's, but let's keep a little perspective.
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Old 03-03-2009, 06:18 PM
 
17,750 posts, read 15,041,223 times
Reputation: 6377
Quote:
Originally Posted by Lakewooder View Post
Hey they are called "Black-eyed Peas" not cowpeas!

Homesick Texan: Black-eyed peas for New Year's Day

Black-eyed peas are a subspecies of cowpea .
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Old 03-04-2009, 07:45 AM
 
Location: Way up high
14,072 posts, read 20,162,120 times
Reputation: 14320
We really haven't cut back anything at all. We are planning a quick trip in May, just leased a new MB last night, planning a two week 5 year anniversary trip in late Dec, finish furnishing the house, getting house painted interior, building a gym in bonus room, etc..

We have no debt except the house, two cars, HD, and a cat. We make good money and will continue to spend it to support the economy. I mean Im not going to sit here and think the world is going to end, blah blah blah. IF the shet hits the fan, then we'll deal with it at that point.

I've said this before, the more people hold onto their money and don't spend, the more people will lose their jobs due to business closing.

IF you have the money to spend, spend it!!!!!
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Old 03-04-2009, 08:38 AM
 
Location: Right where I want to be.
4,507 posts, read 7,830,788 times
Reputation: 3304
Smaller House or Apartment---No, it wouldn't make sense to downscale, we nearly own our home.

Get Rid of Pets--No, we can afford the pets. Now the kids on the other hand......

Private School for Children--Kids not in private school.

Older or Smaller Car/ No New Car---Cars are paid for and will last many more years. We didn't have in mind to replace them anytime soon.
Boat/ RV/Motorcycle or Other Vehicle---Nope, Our RV is paid for.
Internet/Cable or Satellite TV or Radio--Nope, not cutting any of these, but could if needed.

Wal*Mart Instead of Grocery Stores or Dept Stores--I shop for the best value regardless...sometimes that is WM, sometimes that is grocery store, rarely is that at the mall so no, no cutting back here.

Cell Phones/ Home Phone---We did negotiate a lower cell phone rate, but that wasn't cutting back per se, it is part of ongoing effort to reduce expenses.

Delay Retirement--Given the current state of our investments I have serious doubts we will be able to retire when we would like. However, since we planned to retire very early it isn't as big a deal for us.
Delay College/ Children's College--That would be entirely up to the kids, not us.

Not Taking Vacation/ Vacation Close To Home--Vacation already planned and paid for, modestly priced as usual so no need to cancel.
Stop or Cut IRA Contributions--Nope, this is not the time to stop.
Other--None that I can think of specifically related to the current economy.


We have a large cash savings for emergencies (if DH were to lose his job) and we could make some cuts but things are very stable for us right now. The consequences of living beneath our means and having substantial savings are that we don't have to cut back with every ripple of the economy, we can be self supporting for quite a while.
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Old 03-04-2009, 08:47 AM
 
Location: Right where I want to be.
4,507 posts, read 7,830,788 times
Reputation: 3304
Quote:
Originally Posted by NYMD67 View Post
I would like to know how people are doing things honestly with all that is going on...
How do people who live on $35K ,have both kids in multiple activities,go to Disney world and other vacations in the same year,buy new furntiure for their house,buying new clothes-constantly,etc...
Claim they aren't using credit. Strange seeing as we have an income that is almost 3x that and can't go on our vacation this year,don't go out to eat or really have any extra activities that we do.
These people also have their own activities in addition to their children's and they go to the movies about 2x a month ...
It doesn't add up to us ?
Not sure where I see many people cutting back honestly.
Depending on where you live, $35K is a very nice income....IF you have no debt and can manage that $35K wisely. Personally, we could live on even less but wouldn't have the extras or pay off the house early. $50K would provide a lot of extras in the way of activities for the kids or a few nice vacations each year (nice being $6-$8000, not $20,000).

If you know people who are living well on $35K (and without debt) while you are sitting at home eating ramen noodles (an exaggeration) earning $90K I'd invite them over for dinner and find out just what they are doing that you are not. I bet they don't have car payments, a HELOC, CC debt, student loans, etc. Most people spend the majority of their income on debt and wonder how they will ever get ahead.
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