Cut Backs

by Dual Income No Kids on November 11, 2008 · 0 comments

With only a few days in the ranks of the unemployed, I’m reminded of what things are financially essential.  Financial set backs can actually be very valuable in terms of the lessons they teach us.

The reality is that what we have in cash alone would sustain us for at least six months without severance or unemployment (which has already been approved).  However, we have chosen to go on a spending freeze of sorts until I have secured employment.
We certainly won’t be helping the overall economy with our spending.  Some of the main things we are working on cutting back on include:
  1. Eating in More.  Eating out Less.
  2. Bringing lunch rather than buying it out.
  3. Only buying essential clothes – i.e. I had to buy a new suit after returning from Kabul.
  4. Skipping the coffee out – at least more often than not.
  5. Waiting for household purchases – like a couple of chairs we need.
  6. Less presents at the holidays.
  7. Being conscious of spending.
Of course these are all things that can be practiced even in more prosperous times.  It’s a good reminder of what is important to spend on.  Despite cut backs, we are doing our best not to be in a deficit mindset.  We are lucky that we have planned and have enough.

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