I recently came across an article over on CNNMoney about where some Americans are cutting back in their spending. I found the results very interesting.
1. 50% of Americans plan to buy an HD or flat-panel TV in the next year
I don’t know about you, but purchasing a TV is one of the last things on my mind right now. In the article it also mentioned that only 11% of Americans believed that it was a good time to buy things they want or need. Are you telling me that a high-definition TV does not fall into the category of a want?
2. Cable and sattelite TV are way down on the list of cutbacks
For me personally, this was one of the first things to go. To be perfectly honest with you, it feels great not to have all of those channels. I am reading some great books and it even gave me the time to start this blog. I guess it kind of goes to show how addicted us Americans are to our TVs.
3. 59% of Americans plan to take a trip of 100 miles or more in the next 6 months
I was stunned when I saw this one. With gas in my area hovering around $4 a gallon (close to $5 on the west coast), taking a trip is one of the last things on my mind. I would be happy just sitting around a pool reading a book.
There were also some things that did not surprise me that much. A lot of individuals are cutting back on dining out, clothes, and out-of-the-home entertainment. I personally have been starting to purchase produce from local farmers in order to cut down on costs. I am supporting the local econmony, plus getting some great nutrition from the food. Trent over at The Simple Dollar, recently had a great article on Tens Ways to Find Bargains on Fresh Food. I am really starting to love fresh food and the tips that Trent gives are very helpful.
What are you cutting back on and are you getting real savings?
What would be the last thing that you would cut from your budget (other than food, shelter, clothing)?