What are you doing to adjust to the higher cost of living?
Does your current budget no longer work?
Is your paycheck lasting until the next?
What are you giving up? Meals out? Presents? Gym member ships? Clothes? Shoes?
What won't you give up?
Let's have a serious dicussion about this. Please no judging other member's lifestyles. This thread is about what you personally have to do to survive when everything seems to be going up in price.
I bought a bicycle and (for now anyway) I ride the bike to work and back whenever I can. I had already stopped hopping in the car for the 1.5 mile trip to the grocery store back when the prices topped $3.00. When I do use the car, I try to combine as much into one trip as I can, and map it out so that I am not going back and forth.
The A/C hasn't been on yet -- I made the boys get fans; I am fanatical about turning the lights off; I now shop in the "day old" section of the grocery store. If I can buy it and cook it within a day or two, then buying on the sell by date doesn't bother me (yes, I even buy meat and chicken that way--but I cook and freeze right away).
I have gone back to shopping on base -- similar prices to Walmart, a little better quality, larger selection, closer to home.
I am saving to purchase a car to replace the 1997 Ford I have (200,000 miles) but I really don't want a loan, so I may need to repair the baby one more time.
Haven't made any drastic changes, but baby steps for now.
Oh, I'm on a fixed income retirement pay with a short hours job in the evening -- I haven't given up anything I think I really need, I probably will draw the line at losing the cable/Internet (for various reasons). If I could get the boys to play with me and my little changes we probably would be ok for quite some time.
I am going over my budget and trying to cut corners. I am already trying to budget for my natual gas bill this coming winter. I have central air and am considering not turning it on at all.
I am planing out my errands and trying not to back track on outings.
When I visit my daughter I usually pick up a coffee for both of us and tim bits for the grandboy. that will be cut out from now on.
The last paycheck just barely lasted until this one. This paycheck is accounted for bar an emergency, then I am screwed.
What about you?
Well we haven't done much yet other than cut back on meals out. That is partially for health reasons, too. Also have been swapping favors with friends (such as dog sitting, etc.) so we have less expenses such as hiring a dog sitter when we travel for work.
We ARE considering downsizing - i.e. selling a lot of our junk and moving into a much smaller place, and just generally taking down our style of living a few notches. Also if we do that it will be close to downtown so less driving, etc. (unfortunately our city has no public transportation). I usually run around with my windows down rather than running the A/C in my car to save a little on gas, too. I also want to start composting and start my own little garden to save a little on grocery bills... plus, fresh veggies!
I cut back on going out to eat
I cut back on renting movies (and going out to movies)
I turned 'going out' into going for walks, and hanging out at the park instead of walking around the mall.
I pack my breakfast, lunch, and snacks so I don't have to purchase those at work.
I now make sure my 'stops' are in route with my job. (instead of going the grocery store local to my house, I found one on my way home from work)
I ask for any kind of deal or promo when buying large products (new student discounts anyone?).
I am a sales paper junkie! I look forward to wednesdays so I can see the local sale papers and find what's a good deal, and I take advantage of it. I also look at the sales online.
I no longer buy books at Boarders, I use Amazon because they're tons cheaper. (Thinking into getting a library card).
I no longer buy pre-packaged 100 cal packs, instead I make my own.
I pay attention to expiration dates on packaged food, and make sure I find the ones with the longest.
I fill up my gas tank whenever I have a chance because I know it's only going to continue to go up in price.
I stopped buying my daily sugar free rockstars (saving me 30 dollars a month). And boxes of popcorn (saving me another 30 a month)
Ah I could go on forever. I managed to save $400 last month just by cutting out crap I didn't NEED. And I'm going to save every penny. You have to these days. It feels good, but this is just the beginning.
I started carpooling to work w/ a coworker, we are hoping to get at least one other person to join us.
I cut way back on eating out.
We never go to movies.
I buy only what I need at the grocery store.
I don't go to stores unless I actually need something.
I'm actually doing pretty well money wise and that's great. If gas prices keep going up though, my 70 mile round trip commute to work may become a problem.
We are a single-income family (and my wonderful DH is active duty military), so I really try to watch where every penny goes to make sure we are prioritizing our spending in the best way possible.
For us, our biggest single money-saver comes from the fact that we are aggressive in the way that we've tackled our debt, and we do everything we can to avoid/minimize paying interest. We've committed ourselves to following a budget and ensuring that our credit card is paid off in full each month. We also use a cash-back-rewards VISA, which pays us 1% cash back each month, with no upper limit. And we shopped around, too, for a savings account that paid the highest interest. For people with multiple credit cards with balances, consider transferring balances to 0 or low interest cards, or call your credit card companies and ask for lower rates, and tackle the highest interest debt first (if you can!) The money saved in not paying interest can really add up.
Even though we've seen 6 days of temperatures over 100 so far this summer, we have not yet used our air conditioning. To the extent possible, I prefer to rely on closing blinds, using our whole house fan, using ceiling fans, and finding other ways to stay cool.... and as long as I can keep it under 82-83 inside, I can avoid using the a/c. We also signed up for our local power company's special plan where they automatically reduce the power our a/c uses by 25% during peak power periods. Of course, this means it will cool us 25% less, too ... but it will be a money saver (plus they gave us $25 to sign up!)
I planted 15 cherry tomato plants this spring, and now I daily harvest fresh-off-the-vine, organic home-grown tomatoes. This is my first venture into vegetable gardening, and I'm excited about how well it's going. I am thinking about planting some bigger tomato plants, plus some radishes and cucumbers. This is also very recreational, too. For flower gardening, I've switched from buying plants to buying seeds -- definitely more cost-effective.
A few months ago, I really sat down and looked at our insurance deductibles. We decided to raise the deductible on our homeowner's insurance and our car insurance in exchange for significantly lower insurance premiums. I also spent some time on the telephone and online and compared rates to see if it was worth our effort to switch companies (it wasn't ... but it was worth looking.)
Because our local Wal-Mart offers $3 generic prescriptions, we've found that for some of the prescription medications I take, it was cheaper to buy the medicine without going through our insurance company at another pharmacy, and purchasing the medications in generic form from our local Wal-Mart. I also called around 4-5 pharmacies in town and found the one that was the lowest priced for the brand name drugs we buy (using our health insurance.) Don't assume all chains and drugstores are the same prices -- it can pay to shop around.
I've stopped making as many trips to the grocery store in a car, and I've been bicycling to the grocery store (and pharmacy) more often. I even installed a basket on my bike, plus I use a backpack, too. Not only is this great exercise, it really makes me carefully consider what I'm buying at the store. Some weeks I've biked to the store 3-4 times to get what I need ... but that's saved me in gas and it's been a good incentive to get my butt off the couch and onto the bike!
We also look for specials, sales, coupons, clearances and bargains. I just had to get my wonderful DH's car smogged, so I checked with a half-dozen places, compared prices, used a coupon, and saved $15 over the next lowest price. If I go looking for clothes, I always start in the back of the store where the clearance racks are -- and even then I wait for special sales and discounts. I also watch in the grocery store produce section, especially, and look to see which apples are the best price, which veggies are on sale, etc. And, of course, avoiding pre-cut, pre-bagged veggies in favor of whole heads of lettuce, whole stalks of broccoli, whole carrots, celery, etc ... is quite a money-saver.
MOLLY
Ive check ads for my staple items and stock up when there on sale. For perishables, I'll go when the sale starts and right before it ends to restock.
Ive get my produce from a particular store that is always cheaper than others, even walmart.
I already didnt drive much, working from home, but now save up and combine errand runs into one - saves gas and also my time.
Have driven the same car since 98. In a car buying issue, Consumer Reports once wrote the best way to save money on a car is to maintain and keep your current as long as you can.
Desk fans everywhere - in the kitchen, bathroom, TV room and at my desk. Nothing eats up my budget like AC or heating.
Yes I pay someone to cut my lawn but its a cheap rate and only every other week.
I use an Exxon mastercard for everything no matter how cheap - the purchases add up and I get a percentage of free gas every month from my total spending.
I do have a Netflix account but am more concious of getting those movies watched prior to next day - getting more movies for my set monthly fee. Also I take advantage of the many free online movies they offer on their website.
I am currently reviewing electric companies - will be switching to a better rate but have more company rates to compare.
Also sitting on car/home insurance renewal for June - have two companies to compare rates to.
Another is a property tax appraisal that came out - will be protesting recent increase. Have previously had a reduction and hoping to achieve the same again.
For my pending Vegas trip, spreadsheeted different discount sites for rates of several hotels along with finding promotional codes for the hotel websites (the latter being the cheapest). ALSO checking my Southwest flights for 'web specials' as more reduced flights pop up.
AND today I became a seller on ebay with eleven items - its not much but a start and now Im eyeing the house for stuff I can sell. Hope to garage sale the left overs in the fall when it cools down.
I have just done little things....
Make sure I stay at 50mph (I have to drive a lot for my job) to run at the most efficient.
Switch my heating off a little earlier than I normally would have.
Stop eating out.
Double check the contents of my cupboards, fridge, freezer before I go shopping.
Write out a grocery list and stick to it.
Set a budget for presents and stick to it. After all it's meant to be the thought that counts.
Start a little budget box, which every month I put £10 (+) into it for clothes, shoes etc.
Stopped buying on credit and paying my card off. It's just too handy...
Hmm I think that's about all I do at the moment.
Now things are getting tough to the point where it is affecting all but the super-rich, and although I can't help but think there is a bit of poetic justice in the fact that doing things like buying McMansions, SUVs and Plasma screens on home "equity" loans, while voting for people who work only in the interest of the wealthy is starting to bite people on their a$$es.
But it is wrong to be smug - and I don't want to be like the smug house-flippers and yupsters who thought the money and cheap gas train would never end. I hope everybody, even the McMansion set - are able to adapt to what will probably be permanent economic changes. More than anything, I hope that the government will do what it can do to help the poor through this because it affects them the most, and will start bringing jobs BACK TO THE UNITED STATES.
As for me and adapting - I lived on a fairly paltry income in an expensive city for many years. Now we're in Japan and the overall cost of living here is much lower for us than it was in San Francisco, so we don't have to adapt much. Our car sips gas and we only drive on weekends, and the food hasn't gone up much here because the yen is not weak like the dollar. But things look to be tough all over in the coming years so we will continue to be frugal despite the increase in income.
Well I live at home, so *I* don't really notice much, but we've been poor my whole life so my mom's already been doing everything you guys have mentioned. We don't have A/C, we've always used fans. We don't have a car, it's always walking, bikes or public transportation. My mom will go grocery store hoping to buy various items at the best price when the flyers come in, and we often get generic/store brands. I download almost everything, movies, music, pc games, programs, and I don't care. We eat out/order in less than once a month. We basically get one biggish gift for birthdays/christmas, last christmas it was a joint gift for me and my brother (PS3...which costs a lot more than our usual gifts but she knew how bad we wanted it). My dad's not much better off either. Hopefully things don't get tougher for them.
- Pick up ANY extra hours at work (or at other stores) that I can.
- Buy everything in bulk. (This has actually helped the most with pet food. That stuff's expensive.)
- Started grooming the dogs at home.
- Stopped running the A.C. in my car.
- Stopped eating out. (That's a major one.)
- No manicures or haircuts.
And the one I'm most excited about is, when I get a job closer to home (I commute about 25 miles now), we're getting a scooter. Even though it'll cost money initially, it's going to pay for itself in gas really quickly.
And, I'm already worrying about Christmas and the headache that will be.
Well I can definitely feel the higher cost of living and boy does it hurt. I am so used to just going out and buying whatever I want. I'm embarrassed to say that I have some credit card debt and that is because I'm not making nearly what I was making before. I hardly make no commission and it's hard to because I now hate my job and therefore I have no motivation.
I've cut down on the following things:
I bring my lunch(as I have for a long time, but recently I haven't because I've lost my taste for the lean cuisines because of my pregnancy). That really sucks because now I'm wasting money on buying lunches at the spur of the moment).
I try not to use the air in my car, although I can't stand to be hot.
I bought a fan and I think I'll buy some more because it gets really hot in my upstairs apt.
I don't wash clothes multiple times during the week anymore, I only do it once every week or even 2 weeks.
I make food last by eating leftovers.
I also buy whatever is cheapest. Walmart brand or Kroger brand items.
I try to use coupons too.
And I'm thinking about moving closer to my job or back to a more central location and getting a scooter(but...where will I put my baby when it gets here? LOL)
I can't think of anymore but I would love to hear more suggestions. Oh wait I froze all my credit cards in the freezer.
Edit: I cut my house phone off and threatened to cancel my cable/internet service with my provider if they didn't lower my bill. I was paying $105 and now I pay $76. And I have an employee cell phone account through my friend and I dropped the plan down to 500 minutes for $15 per month. Sometimes you gotta threaten people to get the lowest rates. Although that hasn't worked with my Capital One card. They could care less if I leave. I can't wait to leave and cancel that account. Their rates suck!!
Our family hasn't felt a crunch yet, but I wanted to start cutting back before we feel the heat. Most of the things I have cut back on were frivolous things.
1 - I color my own hair now - OMG I can do it for $7 instead of $100 and it looks just as good as the salon. I kick myself for how much I could have saved over the years.
2 - Bought and inexpensive elliptical and cancelled my gym membership as of this month.
3 - Cancelled our pooper scooper service for our backyard (talk about frivolous!). Make the son do it for free now. ;o)
4 - We don't go out to eat much anymore and when we do we keep it to less expensive places.
5 - Ebaying items I don't use anymore
6 - Washing and ironing more instead of dry-cleaning
7 - Not buying new clothes even though I have been shrinking in size. This one has been tough!
8 - Only buying what we need at the grocery store.
9 - Take the train to work instead of driving. This means filling up with gas once every 3 weeks instead of once or twice a week. I have a huge truck and it gets horrible gas mileage! I would sell it if I could but would be upside down now.
10 - I try to bring my breakfast and lunch to work.
And I'm sure I'll be adding things going forward. I really like the idea of starting my own garden. Especially how expensive fruit and vegetables have gotten!
1. Started bringing my lunch at least 4 times a week, that's been saving about $20 a week.
2. I'm trying to plan out my meals ahead of time before going to the grocery store (still working on it) and make a lot of one pot meals that are good for lunch as well (example: veggie soup, beans)
3. Started limiting the trips I make to go see family. They live 4 hrs away and it's about $60-$70 in gas for the trip.
Bigger Changes:
1. I got roommates. My three bedroom house is now full, however this puts extra money in my pocket and is allowing me to pay down high-interest debt.
2. I made a budget that extends out to 2009...now the question is, can I stick to it? :)
3. I traded in my SUV last August for a smaller, compact car. I know get ~30 miles per gallon instead of ~22. I waited to do this until I could get a 0% interest loan on the car.
That's about it! Some of them are still plans...it's just like dieting, except with money it's called budgeting :)
I have a '97 Dodge with 197k on it, and I will continue to repair it, too! Taking on a car payment right now (and increased cost of insurance coverage on a financed vehicle) would hurt pretty badly. Its NOT a fuel-efficient car, but the cost of gas, unfortunately, is less than the payments I'd make on a newer car.
I'm eating out less, and also found that there IS a sidewalk that leads to the nearby grocery store so I can walk there (I live on a busy road so didn't think I could walk it for safety reasons).
I also drive slower on the expressway, keeping it under 60 to conserve a bit of fuel, and I am spending the night at my grandma's or parents's houses one night a week as they are right around the corner from my job.
No more credit card use... need to get them paid down.
I'm also finishing up courses to take the CPA exam very soon, and will hopefully nearly double my salary once I'm certified.
For all of you who are not using your AC in your car:
Driving with your windows down creates more resistance and causes your engine to work harder; therefore it uses more gas. Your gas mileage is lower with the windows down and the AC off. This is especially true on the highway.
Wow, kudos on the great thread and great info provided by all!
I am fortunate in that my company reimburses me at 0.41 per mile when I drive for business reasons. This past week I drove about 400 miles for work, so I am essentially not paying for gas even above and beyond company travel. However, I drive a Tahoe so it could be more efficient and I am cognizant of trying to combine my errand running and I no longer "wander about the countryside" the way I used to when I wanted to check out my new community (I moved here last August).
I have always been a bargain hunter and I LOVE LOVE LOVE buying marked down meats, vegetables and always appreciate it when friends or relatives give me nice things from their garden. I also work for a company that manufactures food, so again, I am fortunate in that I get all kinds of sales samples to take home to supplement my grocery shopping. I also love to shop at dented can type discount food stores and look for key buys and stock up on things like pasta, oatmeal, tuna, soup, etc.
I recently took stock of my pantry and freezer and I am bulging at the seems with good food. I have decided to eat down my food stores and quit buying new foods at the store. The only thing I really need to restock on is Fat Free half n half for my coffee and the occassional fresh vegetables. And, uh, alcohol.
When I moved to the new house, I discontinued services like lawncare, housecleaner, and since I no longer have a pool, no pool dude. I'm saving $335 a month right there, but my house payment has eaten that up. Water here is by the gallon, so I try to cut back on how much I run the sprinkler system. The gentle climate here allows me to really cut back here.
I'm cleaning out my closets and planning to sell my too many clothing items on ebay. I have a goal of making $500 to pay down debt.
