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Thread: What is your standard for cutting back on something?

  1. #1
    Senior Member gimmethesimplelife's Avatar
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    What is your standard for cutting back on something?

    Just curious as to responses if you are not financially cornered into cutting back on something. I am debating cutting back on trips to the border - one thing I could cut back on and one thing painful to cut back on. Just curious what other folks criteria is for cutting back on specific spending? Rob

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    Senior Member JaneV2.0's Avatar
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    I wouldn't cut back on anything I considered "painful" to eliminate. Just make sure your trips pay for themselves as much as possible. Cut back on the painless expenditures first.

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    Senior Member Yppej's Avatar
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    I do cut back on things I could spend on because I want to save for retirement. Every month I set myself a budget. When I have large expenses in a month (like property taxes) I spend less on other items. Then on months when I have more play in the budget I let myself choose among discretionary expenses. If I did them all I would be over that month as well. But having some things to enjoy/look forward to helps keep me on track.

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    Quote Originally Posted by JaneV2.0 View Post
    I wouldn't cut back on anything I considered "painful" to eliminate. Just make sure your trips pay for themselves as much as possible. Cut back on the painless expenditures first.
    Great advice above. If you are not "financially cornered" what is your impetus to cut back?

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    When I was working, I used the "hours worked to pay for" idea. How many hours would I have to work to pay for XYZ? That helped me determine its value - to me, at least. Now, I use "what else should/could/would I spend this money on", and "will I regret not doing this later" to help me think through things like this. And as we get older, the second - regrets for things undone - is weighing heavier. If you will miss these trips, and if they impact others (your SO? other family?) and you can afford them, I'd say keep going. Memories are a valuable thing to have. I don't fondly remember a bigger bank balance, lol.

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    Senior Member bae's Avatar
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    I'm cutting back on items I won't really need/use for the next 3-9 months. I've got enough projects and bits-of-projects going to tide me over, I don't need to grow the backlog.

    I usually, because of my remote location, slowly accumulate stuff I will be needing over the next 12 months, ahead of need, to deal with shipping/supply issues.

  7. #7
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    If money is not part of the equation, I usually cut back on things I already have enough of or don't want/need any more of.
    To give pleasure to a single heart by a single act is better than a thousand heads bowing in prayer." Mahatma Gandhi
    Be nice whenever possible. It's always possible. HH Dalai Lama
    In a world where you can be anything - be kind. Unknown

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    Will it go bad before I need it? Is it better for me to store it or someone else? Not sure what your definition of financially cornered is, but to me that is different from financial goals. Is my money better going towards x, or y?

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    Most of the time, are there other things I'd rather or be better off spending the money on? I do have some taken for the 401k right off the top so I don't see that, but I change the contributions up and down.

    I mean I always ask myself for a purchase do I need it, will I use it. But if we're talking about something like can I reduce the food budget (yes I do need to eat), then I look at what else I could get if I can.
    Trees don't grow on money

  10. #10
    Senior Member catherine's Avatar
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    Like Jeppy, I keep a budget and I track my expenditures almost to the penny, so if I see something out of whack, I either cut back on something else, or the next month try to even it out. I am fine with cutting back on clothing, entertainment and "splurge food"--take out, restaurants, etc. That's painless to me.
    "Do any human beings ever realize life while they live it--every, every minute?" Emily Webb, Our Town
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