Poll: Trying To Balance Your Budget

11 comments on this post so far. Add yours!

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  Charlie on February 24 at 8:10 a.m.

  The luxury items are long gone, it has been the essentials for a couple of years. Cash and Carry mentality now prevails.

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  Stickman on February 24 at 8:22 a.m.

  All of the above.

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  idawa on February 24 at 8:35 a.m.

  We never were one’s to eat out that much - so that hasn’t been a problem (however, eating in, if you buy good food, isn’t exactly cheap either). My wife has also curtailed some of her clothing buys. I don’t go to Starbucks as much as used to, but I still buy good whole beans from various roasters and grind them at home. We won’t cut back on travel though, they can never foreclose on memories (we have a trip to both NYC and Mexico coming up in the next couple months and perhaps Asia in the fall).

  That said, we never have been real big spenders or users of credit (although we do use credit cards to purchase, which I’ve explained why you should do so in post here a month or so ago - how do you think we can afford to fly to Mexico). Our only debts are the mortgage and my student loans. We currently have a little more than six months cash reserve if we didn’t cut our lifestyle, maybe 12 months if we really cut back (not counting retirement saving) and are trying to add to that, just in case. However, if the fed can actually come up with a decent plan for the financial sector and if the stimulus package begins to stir the consumer market, I’m confident things will improve.

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  Aliasjax on February 24 at 9:11 a.m.

  I didn’t take a vacation this year (vacation is my book is defined as a trip of 10 days or more to a desirable destination)…I’ve taken shorter weekend trips to cities offering a deal instead. Lame.

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  JeanC on February 24 at 10:13 a.m.

  We’ve seriously cut back on travel and are trying to economize as much as we can in other areas. I’m learning to make my own artisan breads so we don’t spend so much of our grocery budget on store bought. We also aren’t eating out as much as we used to.

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  Escapee on February 24 at 10:21 a.m.

  I’ve cut back on purchases of things I Can’t Eat. That means Ebay, too. When I eat out, I’m more prone to order the daily special. I’m not desperate enough yet to dine exclusively at McDonald’s, but I did go to a Taco Hell…er, Bell, yesterday.

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