Reduced spending lately, how?

[kumquat]

Did anyone reduce their spending on "undervalued' stocks/equities?

If so, wasn't that part of the 'plan'

 

[unclemick]

Did anyone reduce their spending on "undervalued' stocks/equities?

If so, wasn't that part of the 'plan'

Hmmm - not sure what you are saying here - but one of my hobbies(long story) is funding four kids 529's at a low level with hopes of an 'educational' benefit on their parents of DCA 'enlightenment.'

The thought of increasing not reducing crossed my mind - sensing bargins are at hand so to speak.

heh heh heh - In the end will probably stay the course and DCA on.

 

[kumquat]

Exactly what I was hoping to hear, ala Buffett and others. I was too chicken to buy much (down 7 digits in stocks, wouldn't buy 6 digits). So, did you do it?

 

[mews]

I'm already fairly tight, and don't want to feel like I'm living off of the 50 lb. bag of rice, with 'toppings'

I have been more thoughtful about the 'food eaten out' category - less on the 'grab a muffin' which will let me keep the sushi coming...

ta,
mews

still w*orking, but I have ambition ...

 

[FIREd]

Did anyone reduce their spending on "undervalued' stocks/equities?

If so, wasn't that part of the 'plan'

I hope I understand this right but...
One of the main reasons to reduce our expenses was to have more money to invest in a declining market, so in fact the only "expense" to increase dramatically this year was "investments". We spent about $9000 less this year than last year and, combined with a decent bump in income at the beginning of the year, it has allowed us to invest close to $15,000 more this year than last year. Most of that money went to buy equities (except during the 1-month bear rally in May when we bought more bonds). Hopefully it will prove to have been a worthwhile move!

 

[freebird5825]

I'm already fairly tight, and don't want to feel like I'm living off of the 50 lb. bag of rice, with 'toppings'

ah, brings back memories of "college food" - a big bag of rice and 3 for $1 store brand soups for the toppings. or 4 for $1 Kraft Mac & Cheese. all cooked on the "illegal" hot plate we weren't supposed to have in the dorm so we didn't have to pay a la carte at the dining hall when we ran out of meal tickets. who remembers meal ticket books for the on-campus dining halls?

 

[kumquat]

I hope I understand this right but...
One of the main reasons to reduce our expenses was to have more money to invest in a declining market, so in fact the only "expense" to increase dramatically this year was "investments". We spent about $9000 less this year than last year and, combined with a decent bump in income at the beginning of the year, it has allowed us to invest close to $15,000 more this year than last year. Most of that money went to buy equities (except during the 1-month bear rally in May when we bought more bonds). Hopefully it will prove to have been a worthwhile move!

It may well be th
at the first change will be to remove the dreaded 'dreamer' from your name. GL

OOPPS, addressed at Firedreamer, someone beat me to next post.

 

[pedorrero]

Kicked out problematic girlfriend Aug. 2007 -- electric bill is less than 1/2 in year following, largely as a result of my tolerating it hotter in summer (this is Florida). Got rid of Satellite TV -- saves about $75/mo. I watch little TV. Finally broke down and bought a roof top antenna (about $250 installed). Not using much, but several HD channels available in my "fringe" area. Canceled dial-up internet and landline phone. Just use cell (prepaid, currently). Internet: use a neighbour's wireless connection. Cost $0. Newspapers are free at the university.

 

[Urchina]

1. Have been driving less. This started this summer with $4.35/gal gas. I try to have 2 - 3 no-drive days per week. Saves $50/mo in gas plus wear and tear on the vehicle.
2. I dedicate 3 days a week as no-spend days. I don't let silver cross my palm on those days unless it's an emergency. Probably minimal financial impact but big psychological impact -- I'm more aware of spending now.
3. Grocery shopping 1x/week instead of 2-3x per week. Saves time as well as money (about $150/month).
4. I'm experimenting with cash-only until the end of the year. Last month was the first month I experimented with this; I think it saved me $150/month.
5. Haven't turned the heat on yet, but usually don't until December. I'm going to try to push it until the first week in December this year, and will try to use less than we did last year (we have electric wall heat in each room, independently controlled). My goal is to save us $30/month over last year's charges.

 

[bbbamI]

Bought one motorcycle instead of two.

 

[Frugality_of_Apathy]

Bought one motorcycle instead of two.

but did that one motorcycle cost twice as much?

 

[bbbamI]

but did that one motorcycle cost twice as much?

No. I found riding one-up works just fine....

 

[harley]

Not me. Doing my patriotic duty, spending like crazy. Go economy!

 

[FIREd]

3. Grocery shopping 1x/week instead of 2-3x per week. Saves time as well as money (about $150/month).
4. I'm experimenting with cash-only until the end of the year. Last month was the first month I experimented with this; I think it saved me $150/month.

Hum, I had been thinking about doing that myself. Currently I go to the grocery store 5-6 times a week (I like everything as fresh as possible) and it always seems like I am dropping quite a bit of money each time because I base my menus on what I have a craving for on that day instead on planning my meals well in advance and shopping with a list. Plus I am burning quite a bit of gas going back and forth to the grocery store. At any rates, we are currently spending more than $7000 a year on groceries for 2 people. It starts to sound exorbitant to me, so I am looking at ways to reduce that.
I was also thinking about going cash-only for groceries as at least it would help me be more conscious of what I spend my money on. Right now I put everything on my credit card (I use the miles for my trips to Europe), so I just zip the card through and sometimes I don't even pay attention to the total.
Lately I have experimented with Thai cuisine and I noticed that when I shop at my local Asian market, I can feed both of us on a lot less money, so that could be a good way to lower food costs in the future.
I have also reduced our consumption of meat (we ate too much of it anyways), so what we used to eat in one serving, we now eat in 2 or even 3 servings.

I think I will make reducing our grocery costs one of my goals for 2009.

 

[Dawg52]

Hmmm - gonna try and force myself to spend an extra 10k next year on travel and entertainment. Just ran ORP and I'm not getting any younger.

That's a huge switch from my early 90's ER practices - some of which relatives and my late SO considered a tad extreme.

heh heh heh - Just the memory of what a cheap bastard I used to be brings a tear to my eye. .

P.S. The ORP calculator has been 'adjusted' 7% real return vs 10 of old and changed when I can croak plus my now from several yrs ago portfolio is down about 25% - and still the clock ticks on - I need to force, I say force myself to spend cause I can't take it with me.

Never too late to bring back the cheap old bastard lifestyle. BTW, just noticed that Alabama is now ranked #1 in the country in college football. You think old Bear is looking down with smile on his face?

 

[CuppaJoe]

Looks like I won't deplete my cushion this year but still am concerned.

Today, ate at home and took advantage of free day at the museum, didn't hang out and buy coffee, just spent $25.00 on food for home. Packed a breakfast & snack for jury duty tomorrow. Thinking about using the $50.00 Borders gift certificate for the new Bogle book and lunches at their coffee shop.

There was a storm yesterday, stayed home, spent no money, you wouldn't believe how bad my emergency food is. Yick.

If it rains again, I'll do some baking.

 

[slimm]

I have become more "mindful" regarding expenses...
1. beginning of the month, I recharge a Walmart debit card for household purchases, food, & gas. It's a set amount and towards the end of the month...that's it - no writing checks, credit card for extras.
2. consolidate trips to town - less fuel
3. rarely wear clothes that need dry cleaning
4. keep heat & ac use to a minimum
5. hair appointments are no longer monthly.. extended to 6 or even 8 weeks
6. no more manicures or pedicures
7. no TV
8. read WSJ & IBD at library
9. buy used books from Amazon
10. eat out much less frequently
11. check insurance policies
12.`vaccinate/worm pets myself
13. keep the ol' crockpot humming
14. cut back on the pricey wine
15. do yardwork & house cleaning myself
16. stay out of Cabellas!!!
17. buy shotgun shells by the pallet
18. stay out of Nordstrom, Neiman Marcus....period
19. no more Chanel makeup

I certainly don't feel deprived - just more in control.
I've always l been a LBYM'er, however, I feel in this climate, there is always room for improvement, even a little tweak here and there!

 

[Walt34]

Lately we've been doing our part to stimulate the economy, simply because I got a job recently and we have more to spend. The job nets about $3k/month, two-thirds or more of which goes to savings/investments. Yesterday for example, we dropped $40 on breakfast (filet mignon, eggs, sausage, toast, pass on the champagne) but we only do something like that about twice a year. The other major expense has been making improvements to FIL's place to try to sell it, which he will pay that back when it sells.

But we do not ever pay credit card interest, I always bring lunch to work, and we're on the "all you can eat" long-distance phone plan since DW talks for hours on the phone and everyone is long distance from here. We generally shop once per week for groceries and stick to the list. Very little travel except for day trips, and I'm going to get a motorcycle for driving to work and "lite" trips - it grates on me to drive a 5,000 lb. truck to pick up a prescription if DW has the car.

I'm looking for a used bike but if I haven't found what I want by January I'll write a check for a new one since I think dealers will be hungry then. Still bouncing back & forth between the Suzuki C50T (800 cc) and the C90T (1400 cc). Both are touring bikes and come with windshield & saddlebags.

DW will finish her BA degree in the spring and intends to get a part time or low-stress full time job then, but around here jobs that pay much more than minimum wage are scarce.

We've always been generally frugal though. We wear clothing until it has holes in it and other than a few luxuries (we do not scrimp on heating the house in winter) we don't travel much, take cruises, or eat out often. It's just being aware of where the money is going and making rational decisions about what is important to us and what is not.

So for the moment we're doing fine, but are very much aware of how lucky we are.

 

[audreyh1]

Wow - so many of you folks really cutting back, and figuring out how to do so more!

That tells me this recession is going to last longer.

Audrey

 

[TromboneAl]

My son can now wear the shoes my older daughter used to wear

 

[Sarah in SC]

Slimm, that is an interesting take on the cash only system, to load up the Walmart debit card for your food/fuel/household purchases once a month. I like the idea but I don't think I could bear going to Walmart that much. It serves as a reminder of how much I dislike dealing with the General Public.
But I am thinking that might be a good idea--like for gift cards, just to help keep our spending in line. Hmmmm.... thanks for the good idea.

 

[shoe]

We are really pretty frugal here but have recently downgraded our wine purchases from 3 buck Chuck to Ripple.

 

[Lsbcal]

We are really pretty frugal here but have recently downgraded our wine purchases from 3 buck Chuck to Ripple.

And here I thought it was 2 buck-Chuck. I really like the Sauvignon Blanc at about $25 for a case. It got a gold medal too (think it was at the California State Fair).

 

[Khan]

We are really pretty frugal here but have recently downgraded our wine purchases from 3 buck Chuck to Ripple.

They still make that stuff?

 

[FANOFJESUS]

No room to cut see these two posts.

http://www.early-retirement.org/forums/f28/your-monthly-cost-of-housing-40247.html

http://www.early-retirement.org/forums/f28/annual-expense-poll-40239.html