Cutting Back

[NotSoonEnough]

Originally Posted by Moemg

Is anybody cutting back on expenses due to the stock market and the economy ?

Yes, I've cut back on eating out and weekend excursions. Both require gasoline so I'm staying close to home and cooking my own. However, summer vacation plans will not be sacrificed. I have also reduced red meat consumption, normally this time of year I'd be BBQ'ing burgers and steaks every night, have switched to chicken. Can't wait for the 'maters to ripen and BLTs.

[DragoMuseveni]

Originally Posted by SkisALot

The only people in California who get anything free are the illegals. Where I live, regular gas is $4.99 a gallon and if I run out, I'm on my own.

Sorry to highjack the thread but WOW! Where do you live so that I can take it off my places to visit? $4.99 a gallon, and I thought we had it bad here in Chicago...

[FIREdreamer]

Are we cutting back? Sort of...

We are still working and even though our income has increased quite a bit this year (about 20%), my wife and I are playing "retired", meaning we are pretending that we live on a "fixed income". In 2007 our annual spending goal was set at 65-70K. We ended up spending about 69K over the year. This year, we should have raised the range to take into account inflation but we didn't and our spending goal for this year has remained 65-70K. We seem to be on track so far. It's our way to learn how to "cut back" on our spending when the market tanks. In the mean time it allows us to save more money which we can, in turn, invest in the market during the "blue light special".

[Notmuchlonger]

Not really. Spend the same. I guess if I was on a tight fixed income I might

[shiny]

Originally Posted by Leonidas

I'm still planning on spending more this year, but the craziness has made me put the capital markets on my ignore list.

Too funny!

[outtarentals]

We're still planning to take our usual number of RV trips this year. We justify it by focusing on the difference between this year's trip's cost and last year's trip's costs - not the total cost of this year's trips. (Try saying that fast 3 times).

Then we just relax and enjoy. But yes, we do combine more errands in our day-to-day life. Otherwise our needs have always been simple anyway.

[Midpack]

Not really due to the stock market, more because of inflation and greater LBYM determination. We are:

-driving less and getting better mileage (driving speed limit, using cruise control, tires properly inflated),
- eating out less often and at less expensive restaurants, and
- preparing more basic meals (less expensive ingredients) at home.

Don't feel the least bit deprived either, actually feel good about it...

[UncleHoney]

The only area we have cut back on is gas purchases, $280 for the year so far. That's for two big V8 vehicles. DW still has 3/4 of a tank that I bought her back in early May. I'm at 1/4 tank and it's been 47 days since my last fill up. Right now we are averaging 7 cups of gas/day.

Hobby expenditures are up, lots of fun stuff going on in the yard and when I get tired puttering around outside I move into my shop. Right now I'm restoring a 1952 Evinrude outboard motor that belonged to my great uncle. It's interesting that people could actually build a product without any plastic parts and use real screws to hold it all together.

[Texarkandy]

Originally Posted by Moemg

Is anybody cutting back on expenses due to the stock market and the economy ? I'm a little hesitant to spend a lot on travel right now which I wonder if it is foolish . I'm way under the 4% and I'm not getting any younger . Are other members doing the same ?

The way I see it "vacation money" is "gone money" whether the stock market is up or down. Shouldn't matter.

Airfare is up, but condo/hotel rates are actually steady I've found & a lot of specials running - probably due to less people travelling.

On the other hand, we are being more conscientious as to our "at home" spending - gas, eating out, discretionary purchases at WalMart & the mall, etc (mostly due to inflation)

[Walt34]

Not so much cutting back as keeping a careful eye on what is spent and for what - being more "value oriented" and trying to combine trips to avoid "cold starts" which eats a lot of gas. Some entertainment is being reduced but we did go to a local dinner theater last night.

[ziggy29]

Originally Posted by UncleHoney

Hobby expenditures are up, lots of fun stuff going on in the yard and when I get tired puttering around outside I move into my shop. Right now I'm restoring a 1952 Evinrude outboard motor that belonged to my great uncle. It's interesting that people could actually build a product without any plastic parts and use real screws to hold it all together.

One "hobby" I've taken up lately is throwing up some TV antennas and tweaking to improve the digital/HD signals. We're 60 direct miles away from the towers and there's a lot of hills between us, so it's a challenge. I've also started looking to other directions which may be even more of a challenge. I find it fun to figure everything out, and fine tune everything. Plus, at some point we may decide we don't want to pay for the satellite service any more -- perhaps if my j*b situation changed and we had to live on a lot less -- and we'd be prepared for that if so.

So in reality, this "hobby" isn't to cut back per se, but to help us be able to if it did hit the fan. I don't buy into the doom and gloom, but there's nothing wrong with preparing yourself for it as long as you don't become paralyzed by fear over it...

[SkisALot]

Originally Posted by DragoMuseveni

Sorry to highjack the thread but WOW! Where do you live so that I can take it off my places to visit? $4.99 a gallon, and I thought we had it bad here in Chicago...

In California. "The Golden State."

[Moemg]

Thanks all for your comments . I guess I should loosen my purse strings a little as I'm way under 4% more like 2% and my little ebay selling hobby is chugging along and making money.