The Economy and Cutting Back
Worries about a deep recession — not a shallow one — drove Federal Reserve policymakers to slash a key interest rate last month, meeting minutes show. Read more
We’re feeling the strains of the economic woes. Gas is kicking us in the butt and I’m considering turning the cable off along with getting rid of other luxuries. It seems things are going to be much worse than any economic downturn experienced in our lifetime. We’ve cut back spending on travel, dining out, clothing, groceries and gift giving – and I’m still trying to figure out what else we can get rid of. My son thinks I’ve lost my mind….he doesn’t understand cable is not a NEED – LOL.
This weekend I did my normal spring thing and planted some flowers in the back yard. As I was planting I thought, “We’d better plant something edible instead of flowers”. While I was at the nursery picking up a few annuals to plant I noticed several folk looking at vegatables and herbs. I think it’s time to till up the side yard and plant a vegatable garden…….
Have you started cutting back on spending?
I normally treat myself to a few items a month. I’ve cut back on taking other people out. Now I go out alone and spend money only on me.
That is the most cutting back I can see myself doing.
i can not say that i have cut back on spending. fortunately, my line of business is too effected by the cracked-out economy, so my spending habits have remained the same. but don’t get it twisted. i am very frugal young man and i live by necessity and not want. momma said that there would be days like this, so i have always saved my money and invested and i guess that is why i am able to survive this time without it really hurting me like everyone else. i still don’t like putting that $3.50 gas in my mercedes, but i guess this is the way the white boy in office wanted it.
@Urban – Yes, I had to stop “treating” for lunch. Now it’s every woman for themselves.
@Marcus – Momma was right! I hear gas is expected to reach $4.00 soon. SMDH. I knew I should have bought a civic instead of an SUV.
My groceries have doubled. I never paid attention, I just threw things I liked into the basket. A basket full of stuff at Wal-mart was $100 now it’s $200. I just read that some foods have tripled in the last two years. Foods that have been relatively the same for the past ten.
I haven’t felt the pinch, yet, but I can imagine what it’s doing to single income families.
Girl you are right about that planting vegetable thing, we are sure going to need it.
I have slowed my spending but only to save for our impending move to Texas. I’ll have to worry about the economy once we get settled.
@Mrs. Grapevine – our groceries have almost doubled. It’s ridiculous and it seems it will only get worse.
@Regina-I’ll have to hit you up on the email about your move!
With prices going up as fast as they do now, I try to avoid spending money on anything but the very “musts” – payments for the flat/gas/electricity/water/kindergarten/food and very rarely – clothes. Husband’s mom has already converted garden to a place where various kinds of vegetables grow… I believe, we would be garden-workers throughout this summer:(