What (if anything) are you reducing in your monthly spending?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
User avatar
Topic Author
A440
Posts: 1222
Joined: Mon Sep 02, 2013 7:46 am
Location: NJ

What (if anything) are you reducing in your monthly spending?

Post by A440 »

Prices of everything are rising much faster than income. Our monthly budget no longer balances and we have made some cuts.
Are you cutting back on any monthly spending? Do you care to share what discretionary item(s) are being cut?
We curtailed our dining out, certain superfluous grocery items, car pool when possible, and reduced our Roth IRA contributions temporarily until prices stabilize.
I don't know what the future holds, but I know who holds my future.
jaqenhghar
Posts: 464
Joined: Sat Feb 22, 2020 2:24 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by jaqenhghar »

We used to eat out a lot -- we still do, but we go for lunch instead of dinner. Our favorite Indian buffet is unfortunately out of the monthly budget, so it's turning into once in a few months now.
User avatar
LadyGeek
Site Admin
Posts: 95704
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: What (if anything) are you reducing in your monthly spending?

Post by LadyGeek »

This thread is now in the Personal Consumer Issues forum (how you spend your money and your time).
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
KlangFool
Posts: 31530
Joined: Sat Oct 11, 2008 12:35 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by KlangFool »

OP,

Nothing. My personal inflation rate is significantly lowered than average folks. In fact, I planned to eat out more to help out my favorite restaurants.

KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Harmanic
Posts: 935
Joined: Mon Apr 04, 2022 10:19 am

Re: What (if anything) are you reducing in your monthly spending?

Post by Harmanic »

The opposite. I am buying more as I expect prices to continue rising, but my income is not. Better to buy in today's dollars than tomorrow's inflated prices (deflated dollars).
The question isn't at what age I want to retire, it's at what income. | - George Foreman
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by ResearchMed »

Unfortunately, we have reduced our previously generous travel budget to just about zero.

This went into effect very unexpectedly starting about 2-3 months after we returned from a wonderful cruise and land vacation in New Zealand and Australia... in mid-December, 2019.

:(

We had several other trips already planned. Fortunately, all deposits were fully refundable.

If current economic conditions fail to improve, we'll probably cut back a bit on the frequency or length of some of that travel, but probably not on the quality of our accommodations and tours, etc., once we feel comfortable traveling at all...

RM
This signature is a placebo. You are in the control group.
livesoft
Posts: 86080
Joined: Thu Mar 01, 2007 7:00 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by livesoft »

I reduced my monthly health insurance expenses. Also, my car loan is about to be paid off. And income taxes have dropped significantly.
Last edited by livesoft on Tue May 17, 2022 12:09 pm, edited 1 time in total.
Wiki This signature message sponsored by sscritic: Learn to fish.
runner3081
Posts: 5994
Joined: Mon Aug 22, 2016 3:22 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by runner3081 »

Nope, not cutting back. We are frugal and also minimalists. We have seen the cost increases hit us (mostly in food and household items), but there isn't really anything to cut back.
User avatar
mhc
Posts: 5261
Joined: Mon Apr 04, 2011 10:18 pm
Location: NoCo

Re: What (if anything) are you reducing in your monthly spending?

Post by mhc »

Only thing I am doing is encouraging my family to not drive so much, but I have been doing this for years.
52% TSM, 23% TISM, 24.5% TBM, 0.5% cash
jebmke
Posts: 25479
Joined: Thu Apr 05, 2007 2:44 pm
Location: Delmarva Peninsula

Re: What (if anything) are you reducing in your monthly spending?

Post by jebmke »

Unrelated to economic conditions we finally cut the cable. Reduced our internet/cable/phone dramatically.
Don't trust me, look it up. https://www.irs.gov/forms-instructions-and-publications
stoptothink
Posts: 15368
Joined: Fri Dec 31, 2010 8:53 am

Re: What (if anything) are you reducing in your monthly spending?

Post by stoptothink »

runner3081 wrote: Tue May 17, 2022 12:02 pm Nope, not cutting back. We are frugal and also minimalists. We have seen the cost increases hit us (mostly in food and household items), but there isn't really anything to cut back.
In the same boat. Our budget is bare bones, almost unbelievable to most here. I guess we could cut out our gym memberships, but otherwise our discretionary spending is almost non-existent.
User avatar
Godot
Posts: 1016
Joined: Fri Jun 08, 2018 3:44 pm
Location: That place.

Re: What (if anything) are you reducing in your monthly spending?

Post by Godot »

Harmanic wrote: Tue May 17, 2022 11:47 am The opposite. I am buying more as I expect prices to continue rising, but my income is not. Better to buy in today's dollars than tomorrow's inflated prices (deflated dollars).
What are you buying more of?
"The day you die is just like any other, only shorter." | ― Samuel Beckett
User avatar
Topic Author
A440
Posts: 1222
Joined: Mon Sep 02, 2013 7:46 am
Location: NJ

Re: What (if anything) are you reducing in your monthly spending?

Post by A440 »

Here is a Bloomberg link https://www.bloomberg.com/news/articles ... ood-sports from April 12, 2022 that discusses what cuts consumers are making.
I don't know what the future holds, but I know who holds my future.
User avatar
Godot
Posts: 1016
Joined: Fri Jun 08, 2018 3:44 pm
Location: That place.

Re: What (if anything) are you reducing in your monthly spending?

Post by Godot »

stoptothink wrote: Tue May 17, 2022 12:06 pm
runner3081 wrote: Tue May 17, 2022 12:02 pm Nope, not cutting back. We are frugal and also minimalists. We have seen the cost increases hit us (mostly in food and household items), but there isn't really anything to cut back.
In the same boat. Our budget is bare bones, almost unbelievable to most here. I guess we could cut out our gym memberships, but otherwise our discretionary spending is almost non-existent.
Dito (also cutting back on my use of t's).
"The day you die is just like any other, only shorter." | ― Samuel Beckett
User avatar
AerialWombat
Posts: 3108
Joined: Tue May 29, 2018 1:07 pm
Location: Cashtown, Cashylvania

Re: What (if anything) are you reducing in your monthly spending?

Post by AerialWombat »

deleted
Last edited by AerialWombat on Mon May 23, 2022 2:39 am, edited 1 time in total.
This post is a work of fiction. Any similarity to real financial advice is purely coincidental.
Bama12
Posts: 826
Joined: Fri Aug 30, 2019 11:48 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by Bama12 »

Eating out more, it's cheaper.
THY4373
Posts: 2771
Joined: Thu Mar 22, 2012 3:17 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by THY4373 »

My son graduated from private high school and his college at least for the first 2.5 years will be fully funded via 529 so I have about a spare $1200/month in my budget (my ex covered half of the tuition). This is way more than inflation's effect on me so far which has honestly been pretty minimal. But I expect it will get eaten up when I move to renting an apartment (on a shorter term lease) from my current SFH rental so I can be more ready to fire on buying a place if the real estate market cools somewhat.

Unlike some others here I am still travelling (three international trips this year and one already scheduled for next year). My points are saving me quite a bit on travel and are coming in handy to fly my son back from college. I am easily seeing 2-3 cent of value per point for flights to get back from college which is very high for domestic flights.
Last edited by THY4373 on Tue May 17, 2022 12:14 pm, edited 1 time in total.
WhiteMaxima
Posts: 3340
Joined: Thu May 19, 2016 5:04 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by WhiteMaxima »

I start driving my 1993 GEO Prizm 5MT (Corolla clone) instead of my 19999 Lexus LX470 (Land Cruiser). Get 30mpg instead of 15mpg. Very happy with that.
sailaway
Posts: 8219
Joined: Fri May 12, 2017 1:11 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by sailaway »

We are giving up rent to travel more, but that has been a bit of a long term plan.
MathWizard
Posts: 6561
Joined: Tue Jul 26, 2011 1:35 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by MathWizard »

Nothing being reduced.

We are already pretty frugal. I wish we had more tax advantaged space.

We haven't had cable for years, we use an antenna.
We do use three of the cheapest streaming services (having added 2 during the pandemic)
but we don't rent movies or go to the movie theater.
We do almost all home maintenance ourselves.

Vet bills have increased on our elderly cat, as she nears end of life.

We spent some extra in prior years to reduce ongoing cash outflow.
Solar panels on the roof and a hybrid car, and an electric mower.
I bought a gas/propane generator to avoid spoiled food during a power outage.

We also bought rain barrels for watering the garden & flowers,
which saves on water, and since the sewer bill is based on the water bill,
it saves there too.

We make our own coffee, splurging on Starbucks on vacation.
We eat out or order in mainly only on special occasions.
I take my lunch & coffee to work.

Household income has increased greatly in the last few years, but is now barely
about the 80th percentile.

Household wealth is just under 95th percentile.

You must spend well below your income to be able to invest and generate income from
those investments.
User avatar
wabbott
Posts: 430
Joined: Sun Nov 05, 2017 4:55 pm
Location: Ruston, LA

Re: What (if anything) are you reducing in your monthly spending?

Post by wabbott »

Becoming much more aware of my driving habits. No jackrabbit starts, timing red lights so as not to stop, staying off the local interstate as much as possible, etc.
DesertDiva
Posts: 1555
Joined: Thu Mar 01, 2018 11:49 am
Location: In the desert

Re: What (if anything) are you reducing in your monthly spending?

Post by DesertDiva »

wabbott wrote: Tue May 17, 2022 12:34 pm Becoming much more aware of my driving habits. No jackrabbit starts, timing red lights so as not to stop, staying off the local interstate as much as possible, etc.
I’m also hypermiling. My mom did this when I was a kid—way before it was cool. Little did I realize that it would eventually have a name.
tunafish
Posts: 974
Joined: Mon Apr 26, 2021 9:47 am

Re: What (if anything) are you reducing in your monthly spending?

Post by tunafish »

Became eagle-eyed in the grocery store. Not buying some stuff that has increased in price a lot. Substituting cheaper things, although they cost more than they did but not as much as the others. Store brands.

Hardly buying any discretionary stuff.
59Gibson
Posts: 1386
Joined: Mon Dec 07, 2020 7:41 am

Re: What (if anything) are you reducing in your monthly spending?

Post by 59Gibson »

I haven't reduced anything, but I did put the brakes on my wife's spending.
bloom2708
Posts: 9861
Joined: Wed Apr 02, 2014 2:08 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by bloom2708 »

Not traveling as much. I dropped our Peloton membership.

I've been driving the 2019 Nissan Versa (38mpg) instead of the 2015 Ford Expedition EL (15mpg). That stays in the garage. It is quite affordable with $2 gas. $4.20 is a tad painful.

I am more selective at the grocery store. Hitting Aldi more, having less variety.

In the end whatever we save seems to be spent in some other unexpected way.
User avatar
goingup
Posts: 4910
Joined: Tue Jan 26, 2010 12:02 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by goingup »

No cutbacks. Since January we have finally been traveling at the pace we want. Joined the gym again. Concert going. We are retired and are in lucky to be in good shape financially.
Harmanic
Posts: 935
Joined: Mon Apr 04, 2022 10:19 am

Re: What (if anything) are you reducing in your monthly spending?

Post by Harmanic »

Godot wrote: Tue May 17, 2022 12:06 pm
Harmanic wrote: Tue May 17, 2022 11:47 am The opposite. I am buying more as I expect prices to continue rising, but my income is not. Better to buy in today's dollars than tomorrow's inflated prices (deflated dollars).
What are you buying more of?
Real assets. Just replaced the roof, driveway, landscaping, some plumbing. Just pulling forward things that I was going to do anyway.
Last edited by Harmanic on Tue May 17, 2022 1:21 pm, edited 1 time in total.
The question isn't at what age I want to retire, it's at what income. | - George Foreman
student
Posts: 10764
Joined: Fri Apr 03, 2015 6:58 am

Re: What (if anything) are you reducing in your monthly spending?

Post by student »

Cut down on restaurant bills, call cable companies to downgrade and make sure to turn off lights when you leave a room.
stoptothink
Posts: 15368
Joined: Fri Dec 31, 2010 8:53 am

Re: What (if anything) are you reducing in your monthly spending?

Post by stoptothink »

DesertDiva wrote: Tue May 17, 2022 1:04 pm
wabbott wrote: Tue May 17, 2022 12:34 pm Becoming much more aware of my driving habits. No jackrabbit starts, timing red lights so as not to stop, staying off the local interstate as much as possible, etc.
I’m also hypermiling. My mom did this when I was a kid—way before it was cool. Little did I realize that it would eventually have a name.
We're about 700 miles into ownership of a Ford Maverick hybrid, averaging a tick over 47mpg in mixed driving (EPA estimates are 33 highway/42 street). I know all the tricks and employ them, wife (who does the majority of the driving - drives into the office 3 days per week by choice) has a lead foot. Drivers are reporting anywhere from <30mpg to close to 50 for this baby truck, almost completely dependent on driving behavior. For some, that's quite a bit of money.
User avatar
JoeRetire
Posts: 15381
Joined: Tue Jan 16, 2018 1:44 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by JoeRetire »

A440 wrote: Tue May 17, 2022 11:16 amAre you cutting back on any monthly spending?
No.
This isn't just my wallet. It's an organizer, a memory and an old friend.
QBoy
Posts: 218
Joined: Sun May 05, 2013 7:09 am

Re: What (if anything) are you reducing in your monthly spending?

Post by QBoy »

59Gibson wrote: Tue May 17, 2022 1:13 pm I haven't reduced anything, but I did put the brakes on my wife's spending.
Be careful: Divorce is very expensive.
Firemenot
Posts: 1497
Joined: Wed Apr 01, 2020 8:48 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by Firemenot »

I’ve mostly cut out beef, and particularly steak. It’s not worth it to me over chicken or turkey at the higher prices. And if I want beef I’ll just make burgers and skip the steak.
Nver2Late
Posts: 727
Joined: Tue Jan 26, 2021 10:30 am

Re: What (if anything) are you reducing in your monthly spending?

Post by Nver2Late »

QBoy wrote: Tue May 17, 2022 1:27 pm
59Gibson wrote: Tue May 17, 2022 1:13 pm I haven't reduced anything, but I did put the brakes on my wife's spending.
Be careful: Divorce is very expensive.
My income has been down the last 6 months so I mentioned to DW to pull back a little on the Costco shopping. Instead she got a part-time job. That little bit of extra income makes a difference.
"Better is the enemy of good." Good is good.
Harmanic
Posts: 935
Joined: Mon Apr 04, 2022 10:19 am

Re: What (if anything) are you reducing in your monthly spending?

Post by Harmanic »

stoptothink wrote: Tue May 17, 2022 1:23 pm
DesertDiva wrote: Tue May 17, 2022 1:04 pm
wabbott wrote: Tue May 17, 2022 12:34 pm Becoming much more aware of my driving habits. No jackrabbit starts, timing red lights so as not to stop, staying off the local interstate as much as possible, etc.
I’m also hypermiling. My mom did this when I was a kid—way before it was cool. Little did I realize that it would eventually have a name.
We're about 700 miles into ownership of a Ford Maverick hybrid, averaging a tick over 47mpg in mixed driving (EPA estimates are 33 highway/42 street). I know all the tricks and employ them, wife (who does the majority of the driving - drives into the office 3 days per week by choice) has a lead foot. Drivers are reporting anywhere from <30mpg to close to 50 for this baby truck, almost completely dependent on driving behavior. For some, that's quite a bit of money.
You know that those are selling for $38,000 to $41,000 used on Autotrader. Considering the MSRP is $20,000, that's insane. Hopefully you got it before all the craziness. And yes, over 50mpg is doable - on a pickup truck!!!
The question isn't at what age I want to retire, it's at what income. | - George Foreman
brian91480
Posts: 683
Joined: Fri Jan 29, 2021 6:44 pm
Location: Minnesota

Re: What (if anything) are you reducing in your monthly spending?

Post by brian91480 »

Like a few others who have commented on this thread... I'm wired to be pretty frugal all the time.

My spending habits at this moment won't be much different compared to when inflation gets back to 2%.

-- Brian
User avatar
Jazztonight
Posts: 1339
Joined: Tue Feb 27, 2007 11:21 pm
Location: Lake Merritt

Re: What (if anything) are you reducing in your monthly spending?

Post by Jazztonight »

Interesting thread. I am having a hard time thinking about what I've cut back on recently, because most of our cutbacks in spending took place a few years ago.

My wife gave up her car because of health issues, but that was her expense (she makes more in retirement than I do).

Food? We have most of our groceries delivered, which costs more in some ways but saves me having to drive and waste hours shopping in person.

Travel: We're set to take a few nice cruises (including some necessary flights, but we're not paying for this (it's all coming out of our children's' inheritances at this point).

We live modestly (not necessarily frugally). If I feel I can afford something, I get it. I work out at home (no gym). The cost of eating out these days is higher than before, but expensive/fancy restaurants no longer appeal to me. Been there, done that. I'm not deprived, I guess.
"What does not destroy me, makes me stronger." Nietzsche
stoptothink
Posts: 15368
Joined: Fri Dec 31, 2010 8:53 am

Re: What (if anything) are you reducing in your monthly spending?

Post by stoptothink »

Harmanic wrote: Tue May 17, 2022 1:39 pm
stoptothink wrote: Tue May 17, 2022 1:23 pm
DesertDiva wrote: Tue May 17, 2022 1:04 pm
wabbott wrote: Tue May 17, 2022 12:34 pm Becoming much more aware of my driving habits. No jackrabbit starts, timing red lights so as not to stop, staying off the local interstate as much as possible, etc.
I’m also hypermiling. My mom did this when I was a kid—way before it was cool. Little did I realize that it would eventually have a name.
We're about 700 miles into ownership of a Ford Maverick hybrid, averaging a tick over 47mpg in mixed driving (EPA estimates are 33 highway/42 street). I know all the tricks and employ them, wife (who does the majority of the driving - drives into the office 3 days per week by choice) has a lead foot. Drivers are reporting anywhere from <30mpg to close to 50 for this baby truck, almost completely dependent on driving behavior. For some, that's quite a bit of money.
You know that those are selling for $38,000 to $41,000 used on Autotrader. Considering the MSRP is $20,000, that's insane. Hopefully you got it before all the craziness. And yes, over 50mpg is doable - on a pickup truck!!!
Yes, our dealer offered to buy ours (XLT with spray-in bedliner and trailer hitch) when we went to pick it up, for $30k on the nose (we paid $26.2 OTD). I laughed because I knew we could get far more selling it to Carvana.

We ordered June 24th last year and took delivery April 30th. After that wait, and being even more happy with the vehicle than we imagined; zero chance we're selling.
treadingwater
Posts: 82
Joined: Sun Sep 02, 2018 6:01 pm
Location: Florida

Re: What (if anything) are you reducing in your monthly spending?

Post by treadingwater »

Eating out less. Buying tickets to live performances less. More Aldi grocery shopping.
Never panic. Stop looking so much.
Monsterflockster
Posts: 980
Joined: Wed Nov 20, 2019 11:03 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by Monsterflockster »

Hotel prices are going crazy... gas prices are insane. We are staying home this summer for the first time in more than 10 years.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by Jags4186 »

Very little to cut out. We cut much during COVID and haven’t really increased. Having a baby during COVID really makes you unable to go out and do a bunch of stuff. We did pick up daycare/formula/kids stuff expenses.

Things that have really increased in prices — gas and groceries — we’ve been able to leverage *lots* of credit card deals. We’re in the 15-20% rebate on groceries, 10-50% savings on gas.
User avatar
bengal22
Posts: 2146
Joined: Sat Dec 03, 2011 5:20 pm
Location: Ohio

Re: What (if anything) are you reducing in your monthly spending?

Post by bengal22 »

I cut out lima beans, brussell sprouts, cauliflower, and Turkish cigarettes.
"Earn All You Can; Give All You Can; Save All You Can." .... John Wesley
User avatar
wabbott
Posts: 430
Joined: Sun Nov 05, 2017 4:55 pm
Location: Ruston, LA

Re: What (if anything) are you reducing in your monthly spending?

Post by wabbott »

bengal22 wrote: Tue May 17, 2022 2:33 pm I cut out lima beans, brussell sprouts, cauliflower, and Turkish cigarettes.
Reminds me of this James Bond quip:

James Bond: "Free radicals," sir?
M: "Yes. They're toxins that destroy the body and the brain, caused by eating too much red meat and white bread and too many dry martinis!"
James Bond: "Then I shall cut out the white bread, sir."
Broken Man 1999
Posts: 8626
Joined: Wed Apr 08, 2015 11:31 am
Location: West coast of Florida, near Champa Bay !

Re: What (if anything) are you reducing in your monthly spending?

Post by Broken Man 1999 »

DW buys the groceries and the gas for the van, and she has mentioned the increases in both. However, she hasn't cut back on driving (already low miles, <9,000/per year) and the refrigerator and pantry both seem well stocked.

I have noticed our dining out tabs cost more, but we haven't cut back restaurant visits. Portions are still generous at our regular eateries, so we always get enough to take home and enjoy again.

Overall I'm sure we are spending more $$$, but we have not felt the need to reduce any of our consumption.

I'm sure our experience isn't the same as so many others who have very little (if any) slack in their budgets; gas, groceries, and rent has to be crushing many households. :shock:

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go." - Mark Twain
H-Town
Posts: 5911
Joined: Sun Feb 26, 2017 1:08 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by H-Town »

A440 wrote: Tue May 17, 2022 11:16 am Prices of everything are rising much faster than income. Our monthly budget no longer balances and we have made some cuts.
Are you cutting back on any monthly spending? Do you care to share what discretionary item(s) are being cut?
We curtailed our dining out, certain superfluous grocery items, car pool when possible, and reduced our Roth IRA contributions temporarily until prices stabilize.
In Houston, price of electricity goes up (even after we shop around) when we renewed our 3 year contract. So we keep our thermostat in the low 80s during the daytime while it's 95 and higher outside. We're used to heat (it's a way of life around here), so it's pretty wasteful to keep the A/C blasting during the daytime. The less workload we put on the A/C, the longer we can keep our current A/C system running.

Not related to the spike in gas price, but I have changed how I drive since many years ago. I don't accelerate quickly or race to the red light anymore. I don't follow the car in front closely to avoid constant breaking and accelerating. I know that I ain't get to my destination faster with traffic. Just drive smart and we save a lot of cost in gas, cost of replace tire and brake, etc. The cost of replacing tires, brake, and its motor ain't cheap. My car is closing in 170k miles and still have minimal repair & maintenance cost.

We actually do more vacations. We have hotel and airline points that we can deploy strategically, so we can spend more on dining out and activities. We do more roadtrips than we fly and rent a car. When we dine out, the portion is typically big enough to be shared between us. So typically we spent roughly $40-$50 for a typical meal, $60-80 if it's seafood. Breakfast is free with our hotel status. Then we typically just want a meal after instead of two separate meals. We don't order drink (aside from water) from the restaurants because of insanely high markups. We make drinks ourselves at our hotel. It's easy for us to stop by the store to buy juice and liquor to make our drinks.

We still save in the range of 2.8 - 3.2x of every dollar we spent (varies from month to month).
Last edited by H-Town on Tue May 17, 2022 3:16 pm, edited 1 time in total.
Time is the ultimate currency.
JackoC
Posts: 4714
Joined: Sun Aug 12, 2018 11:14 am

Re: What (if anything) are you reducing in your monthly spending?

Post by JackoC »

We could cut plenty, but don't need to. Mainly higher inflation is annoying rather than really damaging to us. But I'm puzzled when people claim they don't change *anything* in the face of higher prices especially if it's not uniform increases in all things, which it almost never is. Unless I guess they really are at the absolute minimum across the board already, but that's rare, I think. For example I'm not a seafood fan but my wife is. We can afford now significantly more expensive lobster, crab prices as often as before (or much more often if we wanted) but she's not as enthusiastic to do it as often because the difference in price vs other foods has increased but the difference in enjoyment hasn't. Seems natural to me that she doesn't want to buy it as often.

Also as somebody else mentioned, long term retirement saving is one thing (we're already retired). But if you're going make a major purchase like a car or home remodel in a couple of years or now, higher inflation and lower real return on savings (you wouldn't use stocks to save for a year or two or I wouldn't) could be a reason to buy it sooner. But all depends. I am holding off on replacing our 17yr old car with another maybe only 2-3yr old used car because used car prices have been so elevated. I think they could go down. OTOH I bought a new car recently at MSRP. It could be the out the door prices go back below MSRP on new cars before very long, but I think if so that will likely be accompanied by big bump ups in MSRP next couple of model years. I didn't see value in waiting for the new car. I could be wrong about either thing of course
delamer
Posts: 17461
Joined: Tue Feb 08, 2011 5:13 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by delamer »

Broken Man 1999 wrote: Tue May 17, 2022 2:50 pm DW buys the groceries and the gas for the van, and she has mentioned the increases in both. However, she hasn't cut back on driving (already low miles, <9,000/per year) and the refrigerator and pantry both seem well stocked.

I have noticed our dining out tabs cost more, but we haven't cut back restaurant visits. Portions are still generous at our regular eateries, so we always get enough to take home and enjoy again.

Overall I'm sure we are spending more $$$, but we have not felt the need to reduce any of our consumption.

I'm sure our experience isn't the same as so many others who have very little (if any) slack in their budgets; gas, groceries, and rent has to be crushing many households. :shock:

Broken Man 1999
Slack in the budget is key.

We have plenty, so we haven’t made any changes. I can, however, imagine that I might at some point, on principle, refuse to pay above a certain price for a given item.

But mostly, my goal is to spend what I need to in order to do/have the things that I want to do/have.

Tempus fugit. To be interpreted at my age as “If not now, when?”

We’re very fortunate to be in this position.
One thing that humbles me deeply is to see that human genius has its limits while human stupidity does not. - Alexandre Dumas, fils
Parkinglotracer
Posts: 3949
Joined: Fri Dec 20, 2019 2:49 am
Location: Upstate NY

Re: What (if anything) are you reducing in your monthly spending?

Post by Parkinglotracer »

Since everything is more expensive going out to eat I just get water instead of an ice tea for 2 or 3 dollars. That is about 10% of the bill. Then I leave an extra tip. I try not to look at the prices in the grocery store. I worked in one in high school in the 1970’s and still remember the prices so it haunts me.

Pack of cigs was 35 cents, can of campbells chicken noodle soup 44 cents, head of lettuce same 44 cents, six pack of red,white, ad blue beer 1.44. Pop tarts 44 cents.

We are lucky we have what we need to survive plus some. Peace to all.
retired-early
Posts: 63
Joined: Sat May 14, 2022 10:24 am

Re: What (if anything) are you reducing in your monthly spending?

Post by retired-early »

1. Canceled Netflix.
2. Canceled Peloton.
3. Shopped around my auto and home insurance and saved $210 year.
4. Less Roth conversions to keep taxes and IRMAA lower.
5. Eat out 2x a week vs 3x.
6. Shop grocery store sales and Trader Joe.
7. Live like a minimalist. Stopped buying stuff.
8. Sold off a bunch of things I no longer use.
9. Once a month massage vs every 2 weeks.
User avatar
Elsebet
Posts: 1606
Joined: Mon Feb 08, 2016 1:28 pm
Location: Erie, PA

Re: What (if anything) are you reducing in your monthly spending?

Post by Elsebet »

We were never big spenders and don't have kids so we haven't explicitly cut anything back recently. We are actually budgeting more charitable donations this year over last.
"...the man who adapts himself to his slender means and makes himself wealthy on a little sum, is the truly rich man..." ~Seneca
H-Town
Posts: 5911
Joined: Sun Feb 26, 2017 1:08 pm

Re: What (if anything) are you reducing in your monthly spending?

Post by H-Town »

retired-early wrote: Tue May 17, 2022 4:02 pm 1. Canceled Netflix.
2. Canceled Peloton.
3. Shopped around my auto and home insurance and saved $210 year.
4. Less Roth conversions to keep taxes and IRMAA lower.
5. Eat out 2x a week vs 3x.
6. Shop grocery store sales and Trader Joe.
7. Live like a minimalist. Stopped buying stuff.
8. Sold off a bunch of things I no longer use.
9. Once a month massage vs every 2 weeks.
I wonder if you hadn't bought Peloton, would you be able to use that fund on the other 8 items on your list?
Time is the ultimate currency.
Post Reply