Household Budget: What Are You Cutting Back On?
July 23, 2008 by Miranda Marquit
Filed under Finance
I recently read a story on CNN Money about what consumers are cutting back on in terms of household budget. It was a look at what people say they are willing to decrease their spending on when it comes to consumer items. Interestingly, though, it appears that Americans are trying to maintain their creature comforts. Quality of life is something that Americans are trying not to sacrifice at this time.
Some of the interesting findings by the survey done by GfK Roper Consulting include:
- 50% of Americans plan to buy a new TV in the next year (flat panel or high definition). This is instead of going out to movies and spending money on other forms of the home entertainment. Another item not being cut right now: subscriptions to cable and satellite.
- 59% of Americans are going to make a trip of at least 100 miles this year. But chances are that they are less likely to be going to other countries, and more likely to look for frugal activities in domestic locations.
I know we’ve been cutting back. We decided to severely limit our trip to New York City this year, and we’ve been making an effort to make more meals at home, eating out much less than we have in the past.
Is there anything you are cutting back on to save money at this time?
image credit: sxc.hu
I am making more of an effort to pay attention to the grocery bill, shop sales, and use coupons. There are so many available on the internet. If you take about 30 minutes a week, you can find some great deals. It just takes planning. The stores I visit know me as “The Coupon Lady.”
Thanks for the post!
Thanks for sharing Suzanne! Carefully considering purchases and looking for ways to save money can be one way to stretch your budget. When you combine coupons with sales, it is possible to watch the savings start to add up.