Belt Tightening Tips

1. 74

   Mighty Momposted 16 years ago

   How are you scaling back on your spending during these uncertain economic times?

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2. 67

   Mishaposted 16 years ago

   No cuts on my side. Yet. If my business goes as bad as it does now, I'll be forced to seriously cut my expenses about half a year down the road...

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3. 74

   Mighty Momposted 16 years ago

   So, if you do have to make cuts, what expenses will get the ax first? I'm curious to see creative ideas that others are either doing or contemplating.

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4. 67

   Mishaposted 16 years ago

   I think about it when/if I get there
   
   The obvious thing is we'll have to move into smaller house in not-so-fancy area, the rest is not so clear

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5. 74

   Mighty Momposted 16 years ago

   Oy. I look at moving out of my house as the last resort -- even though the mortgage is obviously the biggest payment every month. We only bought in 2007 so really, really want to ride this out so we don't lose our equity and the property values come back up. Ramen noodles are pretty good, as I remember from my single gal days:

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6. 67

   Mishaposted 16 years ago

   LOL we rent, so it is not a problem for us

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7. 0

   Leta Sposted 16 years ago

   Hey, MM--
   
   Expenses like food and travel are always those you can control.  You don't have to eat Ramen (!) LOL, really, unless you want to.  Are you fond of rice? 
   
   We will definitely be traveling less (in AZ, obviously, there is a lot of territory to cover).
   
   Housing--we are lucky to have one of the biggest bargains of the century, lol, though many might not think so...  This is the oldest house in the area, and we heat by firewood (which is possible, since it is not that cold--and which only costs us $20 a cord, as we live by a lumber yard).

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8. 72

   Stacie Lposted 16 years ago

   I moved to a less expensive part of the country to save money...
   it's not easy to go from suburban to rural but i 'm less stressed and
   saving a lot of money.
   i also put the credit cards in a box and use debit most of the time.
   it really helps me to curb spending.
   

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9. 74

   Mighty Momposted 16 years ago

   Thanks for sharing your strategies. I definitely try to live off debit cards, but being self-employed, there are weeks/months when the ARs are not quite there yet. I'm trying hard not to live on credit cards as it's a hugely bad (and financially unsound) habit!
   
   Lita -- Yes, I am very fond of rice as well as pasta. Alas, my hubby is a meat eater all the way.

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