Stuff to look at when it's time to cut back....

Posted By Paul

Hi Everyone,

It looks like there might be crazy times ahead for the economy, so I thought I'd start making a list of easy things you can cut if you need to tighten the belt.

Here we go:

Cable - if you ever need to save a few bucks, it's easy to either cut back on your cable package or get rid of it entirely.

Gym memberships - though I think it's good to exercise and stay healthy, a gym membership can always go if money gets tight. See Matt's earlier post: Budget For Fitness Without A Contract

Smoking - okay, I'm not a smoker and never have been, so I don't know first hand how hard it is to quit, but if you do the math, it's really hard to justify smoking when money is tight.

Newspaper and magazine subscriptions - when money is tight, you can always cancel your subscription (or just not renew it).

Home internet - unless you have a home based internet business, you can always cut your internet service.

Redundant phone plans - do you have cell phones and a conventional line? It might be possible to cut out one or more of the lines.

Expensive car washes - you can always increase the interval between car washes or wash your car yourself.

Expensive hair care - you can try out a cheaper haircut, or just go a little bit longer between haircuts.

Starbucks - see my earlier post: Starbucks

Spa stuff - I know that monthly massages/facials/etc. are awesome, but they're also expensive.

Movies - read my earlier post: No More Movies

Dining Out - cut back or just try to find cheaper places.

Maid/Yard Service - If you have one or both, consider getting rid of them and do it yourself. View it as exercise (see gym membership above).

Storage fees - If you are paying for storage, take a moment and see if what you are storing is really something you can't bear to part with.

One idea that works pretty well for me is that if I decide I want to try to scale back, it doesn't mean I have to cut something out entirely. I can just find a cheaper option or maybe scale back on the frequency. For example make a plan to cut back on movies and rent DVD's instead. If you enjoy a monthly spa trip because you enjoy getting pampered as a treat, consider trying a cheaper treat like a manicure. You don't have to cut out treats, you can just make an effort to find cheaper treats that are still fun.