youbet
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Sorry, logical leaps not allowed. "Cut back" is not equal to "cut out."
If we were "cutting back" we might dine out at less expensive places, plan less expensive trips, etc. For example, we've been to Africa a half-dozen times but probably only taken three or four road trips in the US. So we might plan a (very rare) year where we didn't use our passports but took our usual two trips. That could easily cut back our travel costs by $10-20K.
I understand you're speaking tongue in cheek..... but, it's all relative.
For example, instead of cutting back on international travel, why not just cut back your tipping percentage by one percent, order one fewer cocktail or glass of wine while dining at your usual high tier restaurants, etc. ? Perhaps if you live on a $10 million estate, you could sell and cut back to a $5 million estate (defining the lifestyle differences between the two places as "discretionary")?
Budgets with more modest discretionary spending plans would likely come closer to "cutting out" than "cutting back" to compensate for a significant reduction in income. There's a continuum between reducing and eliminating.
It's all relative.
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