Where would you cut?

iVillage Member
Registered: 01-08-2009
Where would you cut?
110
Mon, 03-04-2013 - 12:19pm

With all this talk of cutting budgets in the air, I am wondering what options people have considered if their families were forced to cut expenses.  What changes in your spending would you make if you had to cut your spending by thirty percent?

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iVillage Member
Registered: 10-01-2010
Mon, 03-04-2013 - 7:21pm

" would get severance pay which would be over a years worth of salary." I am glad that you are confident of this. I sincerely hope that you never have to find out if it really works this way or not

--------------------I hope not either but why do you think I don't know the policy at my job?

iVillage Member
Registered: 11-14-2011
Mon, 03-04-2013 - 7:15pm

"Bord I did not say that "

Actually, you did.

 

iVillage Member
Registered: 11-14-2011
Mon, 03-04-2013 - 7:14pm

" would get severance pay which would be over a years worth of salary."

I am glad that you are confident of this.  I sincerely hope that you never have to find out if it really works this way or not.

iVillage Member
Registered: 10-01-2010
Mon, 03-04-2013 - 7:11pm
No, Bord I did not say that just as I have not said if we could live on one income of if we do right now.
iVillage Member
Registered: 10-01-2010
Mon, 03-04-2013 - 7:10pm
If I went into work tomorrow and found I had no job, I would get severance pay which would be over a years worth of salary. Again, I am well aware of layoffs, unemployment, making less money, underemployed. BTDT.
iVillage Member
Registered: 05-31-2011
Mon, 03-04-2013 - 6:56pm

I think I need a secret decoder ring or a legend key to follow the ever-changing name tags on this board.

iVillage Member
Registered: 11-14-2011
Mon, 03-04-2013 - 6:38pm

So, if you go into work tomorrow, only to find that you no longer have a job, you would not adjust your spending at all?  You know that some people have been unemployed for years, right?  And that when they do find work, their salaries are usually significantly reduced.  You have savings to cover that kind of loss without adjusting your spending?

I must say... I am impressed.  Good for you.

 

 

iVillage Member
Registered: 01-08-2009
Mon, 03-04-2013 - 6:38pm

mycherubs wrote:
Too personal for me to answer if I live on one income, sorry. All bills get paid on time. All things that can be cut are cut right now which allows us to have money in savings and retirement so if something DOES happen we don't HAVE to find something to cut out. Not sure how that is confusing.

Do you mean that if something were to happen where you would have to cut thirty percent of your household spending, you would not cut the spending, but simply pull the money out of savings to pay the bills?  Would you still be putting money into savings at that point?

iVillage Member
Registered: 10-01-2010
Mon, 03-04-2013 - 6:33pm
It is not something we don't think about but again, it would not be the first time so we know what to expect if it did happen again.
iVillage Member
Registered: 10-01-2010
Mon, 03-04-2013 - 6:31pm
Too personal for me to answer if I live on one income, sorry. All bills get paid on time. All things that can be cut are cut right now which allows us to have money in savings and retirement so if something DOES happen we don't HAVE to find something to cut out. Not sure how that is confusing.

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