Fiscal Cliff

hotcoffee · 12-03-2012, 06:51 AM

Today on Channel 9 during the 'Fiscal Cliff Notes' they reported that families with an income of $60,000 will need to cut about $160.00 per month from their budgets. By my calculations that's about $40.00 a week. I'm curious. Where would you cut $40 a week from your budget?

Nupe2 · 12-03-2012, 06:56 AM

Quote:

Originally Posted by hotcoffee

Today on Channel 9 during the 'Fiscal Cliff Notes' they reported that families with an income of $60,000 will need to cut about $160.00 per month from their budgets. By my calculations that's about $40.00 a week. I'm curious. Where would you cut $40 a week from your budget?

No more caviar on Wednesdays!

warneckutz · 12-03-2012, 06:57 AM

Quote:

Originally Posted by hotcoffee

Today on Channel 9 during the 'Fiscal Cliff Notes' they reported that families with an income of $60,000 will need to cut about $160.00 per month from their budgets. By my calculations that's about $40.00 a week. I'm curious. Where would you cut $40 a week from your budget?

Supplements?!??!

Nupe2 · 12-03-2012, 07:00 AM

I'm retired now and don't spend a lot of money but if I had to reduce spending I would probably cut out one day of golf per week or a couple of dinners out with my wife each month.

my-thyme · 12-03-2012, 07:00 AM

My allowance - no more books, cds, yarn, beads....

ProfMoneyWise · 12-03-2012, 07:02 AM

Starting with Food, Shelter, Utilities, Basic Transportation down the left side of the page you list in order of priority your budget items.

On the same line down the right side you list the $ amount of each.

Keep going down the line and adding them up until you reach the point where your money stops and draw a line.

Review what is above the line and what is below the line and determine what needs to be moved.

If "needs vs. wants" have ever needed to be evaluated it is now and quick. The payroll tax holiday expiration which equates to 2% of gross pay is due to be reinstated January 1 and felt in the first paycheck of 2013.

sm8 · 12-03-2012, 07:44 AM

I would make hubby get rid of one of his trucks or bikes. He has two of each. He attempted to buy a jeep about a week ago but I told him we could not afford it. He tried to tell me he was going to pay for it out of his "play" money. I then proceeded to explain to him that it is not the initial payment but the additional insurance and tags that I would have to pay out of the bill money and that it is just not there. He still did not get it so I just left it at if he bought the jeep he would be responsible for paying all of the bills because I am just done and would be washing my hands of it. I guess he got the point because he did not get the jeep.

migtig · 12-03-2012, 07:49 AM

Quote:

Originally Posted by sm8

I would make hubby get rid of one of his trucks or bikes. He has two of each. He attempted to buy a jeep about a week ago but I told him we could not afford it. He tried to tell me he was going to pay for it out of his "play" money. I then proceeded to explain to him that it is not the initial payment but the additional insurance and tags that I would have to pay out of the bill money and that it is just not there. He still did not get it so I just left it at if he bought the jeep he would be responsible for paying all of the bills because I am just done and would be washing my hands of it. I guess he got the point because he did not get the jeep.

I feel your pain.

I would have to cut the fun stuff and beg my husband not to go on any online shopping sprees. Craft items, any eating out, ice cream purchases would go out of my budget and he'd have to stop buying "great deals" online...

rmorse · 12-03-2012, 08:09 AM

Quote:

Originally Posted by ProfMoneyWise

Starting with Food, Shelter, Utilities, Basic Transportation down the left side of the page you list in order of priority your budget items.

On the same line down the right side you list the $ amount of each.

Keep going down the line and adding them up until you reach the point where your money stops and draw a line.

Review what is above the line and what is below the line and determine what needs to be moved.

If "needs vs. wants" have ever needed to be evaluated it is now and quick. The payroll tax holiday expiration which equates to 2% of gross pay is due to be reinstated January 1 and felt in the first paycheck of 2013.

Is HBO a need or a want?

puggymom · 12-03-2012, 08:21 AM

Quote:

Originally Posted by rmorse

Is HBO a need or a want?

It depends on if True Blood is on.

12-03-2012, 06:51 AM	#1
hotcoffee Registered User Member Since: Oct 2008 Location: In Maryland Posts: 2,061	Fiscal Cliff Today on Channel 9 during the 'Fiscal Cliff Notes' they reported that families with an income of $60,000 will need to cut about $160.00 per month from their budgets. By my calculations that's about $40.00 a week. I'm curious. Where would you cut $40 a week from your budget? Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook __________________ God says: "I am your refuge and your strength. Even though the earth gives way and the mountains fall into the heart of the sea, do not fear. I am an ever present help in trouble." Psalm 46:1-3
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12-03-2012, 07:00 AM	#4
Nupe2 Registered User Member Since: Apr 2004 Location: Charlotte Hall Posts: 1,747	I'm retired now and don't spend a lot of money but if I had to reduce spending I would probably cut out one day of golf per week or a couple of dinners out with my wife each month. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook __________________ Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity.
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12-03-2012, 07:00 AM	#5
my-thyme ..if momma ain't happy... Member Since: Oct 2006 Location: south of The Park Posts: 1,935	My allowance - no more books, cds, yarn, beads.... Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook
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12-03-2012, 07:02 AM	#6
ProfMoneyWise Registered User Member Since: Sep 2008 Posts: 897	Starting with Food, Shelter, Utilities, Basic Transportation down the left side of the page you list in order of priority your budget items. On the same line down the right side you list the $ amount of each. Keep going down the line and adding them up until you reach the point where your money stops and draw a line. Review what is above the line and what is below the line and determine what needs to be moved. If "needs vs. wants" have ever needed to be evaluated it is now and quick. The payroll tax holiday expiration which equates to 2% of gross pay is due to be reinstated January 1 and felt in the first paycheck of 2013. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook hotcoffee likes this. __________________ http://www.printedowl.com/CalendarDe...spx?id=kmunsch Follow on Twitter: @KirkMunsch
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12-03-2012, 07:44 AM	#7
sm8 Registered User Member Since: Aug 2004 Posts: 847	I would make hubby get rid of one of his trucks or bikes. He has two of each. He attempted to buy a jeep about a week ago but I told him we could not afford it. He tried to tell me he was going to pay for it out of his "play" money. I then proceeded to explain to him that it is not the initial payment but the additional insurance and tags that I would have to pay out of the bill money and that it is just not there. He still did not get it so I just left it at if he bought the jeep he would be responsible for paying all of the bills because I am just done and would be washing my hands of it. I guess he got the point because he did not get the jeep. Share Share this post on Digg Del.icio.us Technorati Twitter Add post to Facebook
	[ Reply w/Quote ]


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