Spending Question

[Mickeyistheman]

Even before I was laid off, my spending habits changed. I bought really only what I needed and instead of going to Target I would go to Walmart. I even started grocery shopping there as well just because it was so much less.

I also buy what is on sale and really no splurges. I don't go to the mall at all and if I do go to the movies which is a BIG treat I will go to a matinee.

No more eating out at all, no more fast food etc.

Keep in mind this was before I got laid off, so now that I have been laid off. Unless its food and my car payment/insurance that is all that I will be spending. Until I become employed again.

 

[PatsMom]

For this year, we haven't made real big spending changes. We are still vacationing a few times - budgeted for in advance from last year's bonus. I have increased the amount of cash we keep on hand because we anticipate my income will go down in 2009. We consider ourselves very fortunate because unlike some people we know, we are still kind of trimming luxuries - eating out once a month and doing pizza or Chinese take out the other three Fridays, burning a little more wood for heat instead of letting the furnace come on at night.

 

[lillygator]

no big vacations for us in the coming year and xmas will be light. I also want to really start aggressively paying down debt and starting to save more. I have been pretty spendy in the past.

 

[Katieinwonderland]

Our spending habits totally changed the last month. This year DH and I got married, went to Hawaii for three months on honeymoon, took trips to Disneyland and New York and basically ate out almost every night. I had a great, well paying job and DH had an OK job that paid a reasonable amount.

Then I got laid off and everything totally changed. We had barely saved any of the money I made, the only savings we had were retirement accounts that we weren't going to touch, a house savings account we don't want to dip into and money we got as wedding gifts. From the end of september to now, we managed to eat up basically all the money we got from the wedding - we didn't change our spending habits at first and it was a huge mistake. Now we only pay bills and buy food and gas - that's it. No money on anything else, even thought I just got a job again. It was so scary to suddenly not have any money and to struggle so much. I'll never spend money so carelessly again, and I'll always save more, no matter what I make.

 

[KelNottAt]

Cancelled the kitchen remodel project in order to offset losses in the college funds.

Other than that, still spending as usual. Going to WDW for Thanksgiving.

 

[Planogirl]

We've cut back and spend way less on entertainment and other things we don't need. Any kind of serious travel is out for now too.

Our house needs work and that takes priority.

 

[Ilovemylife]

We're being much more watchful of where our money goes and have cut out un-necessary things.

We're aggresively paying down debt (one car (other is paid off) and student loans), while building up our savings.

Christmas is going to be lighter this year (though I never over spent to begin with), I'm being more careful with coupons and shopping (watch for sales) and I'm driving less.

We had a trip semi-planned for Jamaica in February (cousin's wedding) but that's been canceled, too (our trip, not the wedding ). Instead, we're putting that money toward the orthodontic work my son will need starting after the first of the year.

*sigh*

 

[mamacatnv]

We've cut way back - we had too, we ended up paying the Freshman college bill out of pocket - the college savings dropped so much we didn't want to touch it and take such a huge loss. DH's job is precarious - not sure what is going to happen and then we will have next years tuition, room and board bill to deal with.

Now that gasoline has dropped we have some wiggle room and are trying to do our part and spend some of it.

 

[Mom2Nick]

My spending habits have remain unchanged.

 

[mumom95]

For the most part our spending habits have remained unchanged.

 

[Colleen27]

We're putting off a lot of spending until we know for sure what we'll be spending on a house. The economy has a lot to do with it, even though we're not in a bad position (yet) - with DH's small business as our only significant source of income, we really don't feel secure with a monthly mortgage payment in this economy and we're running out of space anyway, so we're putting of getting a new minivan, postponing our next trip to Disney, and scaling back on some other purchases in order to buy a house with cash while the market is so weak.

If things go well and business remains steady or improves, this will put us in a position to have a lot more disposable income and do a lot more traveling. If things go poorly and business continues to slow, it will put us in a position of needing very little income to live on and being totally secure knowing that we own our home free and clear. Either way it is well worth what we're giving up in the short-term to do it.

 

[Mrs.Toad]

Our spending habits have not changed. We have savings and dh's job looks secure, so we will continue to pump money into the economy, unless or until we're directly affected.

Well, scratch that. We're trying a little harder to buy American products, so that might be considered a change.

 

[FINFAN]

the market took DD's college $,the oil companies took my cushion savings, my hours cut drastically, priority is to get the car paid off, or better yet, sell it. Spend? Nope. Unless you count meagar food on the table, it's not happening. DS braces have even gotten post poned, no way do I think taking on 5,000 debt is smart right now. I am bracing for the next several years of nightmare. No one's jobs are as secure as they think they are.
Back to the job search.

 

[Jockaroo]

We are really trying to budget and cut out non-essentials. We took some big financial hits this year: huge vet bills for our little dog who passed away, new roof, new vehicle for hubby. Although it seems we've spent more, we are trying to be cautious with our money. Hubby's job is questionable, so we don't take that for granted either. I'm trying to watch sales and really plan our meals around the weekly specials. Our "entertainment" is now seeing how much we can save coupon shopping at the store running triple coupons.

I really hope things start getting better for everyone, but it seems so uncertain right now.

 

[Crankyshank]

We've significantly reduced spending because we're trying to pay down debt, because our cost of living has increased significantly (food and utilities), home improvements need to be done, and I've had to pay a lot of money recently for graduation/application related expenses.

 

[dzneelvr]

We are suspending any major purchases such as new TV, vehicle, etc. and making sure what we have stays in good shape. And once our stock portfolios recover (yes, I'm being positive) we won't hesitate to move the funds out into other more conservative investment instruments. We're all taking advantage of the major sales that are everywhere and basically not paying full price for anything. Another thing: we continue to support local philanthropic drives because the kids are who suffers most in these hard, hard times. PLEASE SUPPORT YOUR FAVORITE CHARITY WITH GIFTS OR TAKE TIME TO VOLUNTEER

 

[Buckalew11]

We are pretty thrifty so not much has changed.

We've been cutting back at Christmas fro several years and this will be no exception. What we have decided to do this christmas is instead of buying gifts for people who do not need more things, we are buying for a family that really needs help. The parents just moved here and are now separating and their house burnt down! Those people really need help and we're going to make sure those kids have christmas this year.

I'm supposed to be building a house in 2009 so we'll see how that goes. it is scary so I do not know if we'll take that plunge or not.

 

[C.Ann]

Started cutting back on spending last January - when I could smell trouble brewing.. As things have gotten progressively worse, I have cut back more..

Christmas will be lighter this year, for sure.. No trips planned - and about the only time I eat out is when I'm in Disney World..

While "spending" may be what is necessary to turn the economy around, the bottom line for me is that I alone have to be financially responsible for myself - for the rest of my life.. If I'm going to accomplish that goal (without ending up on partial or total government assistance), that means "not spending" the way I normally would..

I've already been "caught off guard" once in my life - it's not going to happen again.. Guess someone else is going to have to "spend" for me to boost the economy..

 

[Tink888]

We've always been real careful with our spending so not much has changed for us. We learned a long time ago that nothing is guaranteed.

We did some remodeling over the summer and a short trip to WDW in Sept. No debt except for the mortgage and 1 car payment. We live off DH's pay and bank mine. It's very likely that I'll be laid off by the end of the year so I'm putting everything I can into savings to build up that cushion.

 

[ksumn1]

Yep. In the last 3 weeks my hours at work have been cut back. Granted, I only work at a restaurant so the $$'s not great anyway but every little bit helps. Made the decision 6 months ago to go back to school (college) and get my teaching degree so the belt's really going to tighten come January. We always get a fairly large tax return (we have our withholding set high) and we usually use it to pay car insurance in full and for our summer (only) vacation. Next year, we're fixing the falling in porch, doing some car repair, and paying off as much of our cc balance as possible. We're also planning on putting some back for my school expenses (books are high). DH is worried about the car insurance and doesn't "get" that the cc's have interest and our best bet is to pay them off and transfer the balance to the lowest interest card.

And in January, we're going to sit down and do a total inventory of all debts, expenditures, everything and start using the cash envelope method. ANd we also plan on changing our witholding so it's not so high. We'll need the $$ check to check more than we'll need the big return check. We're not great savers so that's a priority as well. If nothing else, at least $25-$30 a week in savings for Christmas next year. It's always tight at Christmas and next year will be even worse.