Monday, August 8, 2011

Budget ->Where to Cutback?

This is probably a question many households are asking themselves in this tough economy. I chatted with a neighbor the other day who has been unemployed for quite some time. She mentioned that they had to eliminate cable & internet. Her kids are upset it had to be cut, but they needed the money for the rising electric bill due to running the air conditioning. I know many people are making deep cuts in their budgets to have enough money for the essentials. Always keep in mind that as your income situation gets better, some of the things that were cut will eventually return. It just may take awhile. Now that it's back-to-school for some, more time can be spent reading lessons together. If they need to look up information on the internet, most local libraries have computers and access to the internet.

Here are 3 budget cuts I made:
1) basic cable instead of expanded ->not as many channels, that's OK
2) shopping for clothes ->consignment stores have good buys
3) hair salon ->Cosmetology School for lower cost, styles by students

Not to make light by Standard & Poor's to downgrade the U.S. credit rating, but maybe we all need to downgrade our own debt and save more money!

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