Have you changed your spending habit?
@santosmarichris (1849)
Philippines
July 31, 2010 8:31am CST
In bad times, I know we all of us do cut back. But now, I think even in good times people do cut back in their spending habit. Do you delay your purchases and wait for a sale? Do you buy generics instead of those high priced labeled items? Do you cook more at home instead of eating out? My answer is 'yes' to all. 
For me it's better to save than to spend, not unless needed. How about you?
For me it's better to save than to spend, not unless needed. How about you?4 people like this
24 responses
@antilove (191)
• Vietnam
31 Jul 10
Well, the problem doesn't lie in saving or spending. Saving is good but if we save all the times, it will soon become being stingy, which is not a good habit. The thing is that we all should have to learn HOW TO SPEND money, when to spend much, when to spend little, when to save. Okay, that's not easy to learn in one day right? Maybe it will take lifetime to learn the secret of how to spend money.
@mysticmaggie (2498)
• United States
1 Aug 10
My dad set the standard when he refused to ever use credit cards or buy on credit except for the house mortgage. When his paycheck arrived, the first money went into savings accounts and money market accounts. Next the house payment and utilities were paid. He gave Mama the money for groceries next. If there was money left over, he gave each of us children a hard job to do and if we did our work well, he rewarded us with a quarter (that was a lot once upon a time). My job was ironing for six people. My brother tended the farm animals and baby sister got off with being the baby. When school started, Mama got $25 for each of us to buy cloth to make clothes and pay for other school expenses.
We never wanted for anything and when a tornado destroyed the family home and the insurance company refused to pay the full amount of what it cost to replace everything, Daddy paid cash for rebuilding the house and garage, repairs to the truck, car and boat. When he and Mama reached retirement age, they went out and bought the last car they would ever buy and paid cash.
They never wanted for anything because they put their priorities in order, with a certain percentage of every paycheck going to savings first, necessities next and extras last.
If more people had followed that example, life would be a lot easier for them today. Taking on credit cards without having any idea of how to use them instead of them using you defeats a lot of folks. Nothing should go on a credit card that cannot be paid off by the end of the month, but people buy groceries, which are long gone before the debt is, or movie tickets, which are again used long before the debt for the movie disappears. Daddy realized the dangers and steered clear with a vengeance.
@lelin1123 (15595)
• Puerto Rico
3 Aug 10
Yes I have always brought things that I need not what I want. The economy these last few years should have shown alot of people to spend less and enjoy living life with less instead of more. That new gadget on the market people don't really need but they seem to think they do. I don't play into all that. I buy the essentials and that is it.
@thebestmom (1104)
• Philippines
2 Aug 10
oh yes.. i have already changed my spending habit a long time ago. not only because of hard times, but because the clutter in our house is already becoming untolerable. so i think 10x first before i spend something..
@minx267 (15527)
• Hartford, Connecticut
1 Aug 10
My answer to all 3 is also Yes.. I also have tried to save by looking around online to find cheapest prices for things I need.
I have gotten cheaper Printer ink, memory card for my camera, even my computer was cheaper and I got cash back through BigCrumbs on all these things, so it's like having a sale and saving with a coupon.. Only I get my cash back paid back into my Paypal and then I get to spend it again! 
@dorannmwin (36392)
• United States
2 Aug 10
My husband and I started with this trend a year ago when the credit cards that we'd been using as a crutch increased both their interest rate and also their minimum payments. Since September of 2009, we've only used a credit card a couple of times when we were really struggling (and those were ones in my name that have very low credit limits). We aren't eating out as much as we once were and I'm not buying a lot of things that we don't need. Do we still struggle at times? Yes, but I think that the lifestyle that we are living now is a much better quality lifestyle than what we had this time a year ago. We've learned to live on less than what we earn, our credit cards will be completely paid off in less than three years now (we enrolled in a debt management plan) and most of the time I'm not nearly as stressed about our financial situation.
@sender621 (14894)
• United States
1 Aug 10
Qith the state of the economy, it has changed my spending habits a great deal. i still like to buy things and do things with friends and family. I may have to conserve and save to still do these things when i want to. i can't splurge as much as i have had in the past. i just can't afford to. Can you?
@derek_a (10874)
•
1 Aug 10
Yes, since the credit crunch and world recessions I have cut back on my spending habits. It is necessary to ensure that we will have enough money if things start to get worse. A friend of mine is not making any cuts to his spending, and I worry that there's will be problems in the future, as nobody really knows what it going to happen with the economy. _Derek
_Derek
@ANTIQUELADY (36440)
• United States
1 Aug 10
My answer is yes to all the above to. Times are bad & it bothers me to see people living above their means. It will catch up w/them one of these days. I think both my sons & their wives do that & it worries me. U have got to save for that rainy day because it will come around to us all.
@danrunsfast614 (1396)
• United States
1 Aug 10
I have not really changed my habits. I try to save money by waiting for sales all the time. And I avoid high priced "designer" items. What's the point in owning them? At least, that is how I feel.
@Ingkingderders (3832)
• Philippines
1 Aug 10
I think my answer would also be YES to all of the things that you have mentioned. I think even in good times, it's really better to practice having a good spending habit, because you would definitely need it in bad times, and it is really a great way to teach your kids how to handle money.
@shia88 (4571)
• Malaysia
1 Aug 10
Hi,
Since I married, my spending habit has changed alot.
I seldom do shopping.only few times in a year and does not shop much.
Before I was married, I am a big shopper.Everytime when I went out,
I am sure will shop for something. I never go for those branded goods,
But I just buy something that I like.
Now, I prefer to save my money for future use.
Sometimes, I will wait till the sales period,then I will go for shopping.
And I cook everyday for my family. We hardly dine out. It really can save lot of
money by eating at home. And apart from money, it is more healthy to cook
myself than dining out.
Spend wisely and you will have a huge saving,keep those money for travelling or
emergency use or do some investment.
@mercedlegurpa (955)
• Philippines
1 Aug 10
I'm a frugal person and this makes my family irate sometimes. Since my teenage days or let me say since I was a six year old kid, my grandmother always tell me that it's good to save.
@aaronfyzeon (1920)
• Philippines
1 Aug 10
My spending habit would depend upon the income I am having ofcourse, if i have more income then my spending habit would be more than what i used to be having before. When i buy the products i want, i always refer to the brand of that product. i would not compromise the quality of the product that i buy just because it is cheap. If it is for myself, my family and friends then i should buy the best. I would care less if it is a little expensive from the next best thing.
@kimkim888 (145)
• Philippines
1 Aug 10
I have bad habit in spending money... Now , im broke with no savings and money to spend....Right now, i like to start saving and spending my money wisely, I just buy what is needed and avoid focusing on my wants...=)
@ip5217 (1655)
• Philippines
31 Jul 10
You are right santos. Almost everyone is really very watchful of their spending habits nowadays. We are also trying our best to save as much as we can, most especially now that we have a baby on the way.
Economy in our country is unpredictable; employment is scarce as well. Thus, we really have to be careful with our spending habits because we might be caught unprepared with what's bound to happen in the future.
@randylovesdar (4932)
• United States
31 Jul 10
I have cut back drastically because of the bad economy. It has been almost two years since I have been down by my parents for Christmas and this year my husband and I are going. I am doing all I can to save money. I work on here and make a few extra bucks, we eat at home often (except for Saturdays because we have to travel an hour to get groceries) and we only buy the barest essentials. We have swicthed phone companies and now have Magic Jack (we pay 19.99 a year). We have gotten rid of the cell phone. I still have the Internet because I want to launch my own home based business. This weekend my husband was a dj at a dance and got extra money. I told him if he wants he can buy himself something since he worked so hard. After we get caught up on our bills my husband will be giving me some money so I can start making my crafts and selling them online.
@jinjer168 (1596)
• Philippines
31 Jul 10
Hello! I agree with you. I am also into cutting of unnecessary purchases. Reasons are simple. Times are harder nowadays, money are hard to worked for but easy to spend. There's a lot of things that should be prioritize first that's needed to be paid like electric bill, water bill and tuition fees etc. Prices of most needed commodities kept on rising but the salary of simple workers seemed to be fixed for many years. I am also a very thrifty if not frugal home maker. I wanted to save a lot because i'll never know what will happened tomorrow. For me, the man who earned 200 per day is better than a man who earned 1,000 pesos a day if the last mentioned spend it all while the first mentioned manage to save 20 pesos a day. That's how i value our hard earned income. Though its a tough times now, there's still many reasons to save and cut expenses. Just like you i also have lists of how to cut our expenses and here's some of them. I cooked vegetables often, this way we will be healthier at the same time spend less, i unplugged all electric appliances after using them, this way i save 25% of electricity that they would still consume if they left still in plug, i walk rather than riding a vehicle, this way i could exercise and save, i resort to cheaper but quality products of all sorts, known products have high price rather than those who are less known but still good, like you, i buy generic medicines and buy my items on sale. Have nice Sunday!
@lindaharding627 (1442)
• United States
31 Jul 10
We have cut back on our spending. We aren't eating out as much and generally only get the basics when we go to the store. I use coupons for our foods or we get things at the dollar stores. I will look for things that are on sale and yes we do use generics for things like paper towels and toilet paper.
@nvvn2015 (86)
• United States
31 Jul 10
I want to cut back, but when I see that new shiny whatever, I want to have it. It's this addiction I have, to new things. I want to save, but I can't stop looking at those new products. Saving has become extremely hard for me.
