What could I do without?

[Coelus]

Based on the popularity of another thread, I thought a little self-assesment thread might be in order. It's a simple question that may be a top priority for many of us in the near future with the rapidly rising cost of fuel.

What could I do without to keep my family financially afloat if the economy tanks?

My own list:
Satellite
Internet (free WiFi more)
Less AC (I paid for those windows)
Less heat (I paid for those blankets)
Mowing as much/often (doesn't apply to everyone, I live on a farm and can let some yard go back to pasture)
car washes
do my own oil change
expand the garden
Chicken coop, eggs and drumsticks supplied. (again, I live on a farm)
Park my truck and get a cheap used compact to drive when I don't HAVE to use the truck.

[3n-Out]

Personally I could never give up internet access. But all the rest you listed I could easily let go.

If you have a Cell phone you could let your LAN Line go!

Car Pool???

I can tell you this, the wife and I have started to Car pool.. We are dropping 600+ a month on gas alone so we are now car polling to save 1/2. I can't help but wonder how people that are making minimum wage or a couple buck more are making it with the gas costs..

My guess is the economy is going to get worse before it gets better....

Another 2 weeks gas for $4.00+ a gallon???

Gulp...

[eRoc]

Less going out on friday and saturday night, and more staying home and practicing lighting techniques. That alone has saved me $400+ a month.

[Jenny Z]

1) Less eating out (we've already started that)
2) Less AC... I'm kinda picky about being cool when i sleep, I could probably do without :P
3) If it got really bad, i could have my dad watch my dogs for a while...
4) Less soft drinks, more water

[LDB]

Subscription TV
Eating out
Vehicle (could drive a less expensive one that needs liability only)
A/C and heat adjustments
Boat
Motorcycle
RV
vacations
gifting changes (make rather than buy, photography being a good one to give)

There would be other things but those come immediately to mind as all being optional and only for debt free times.

[mom2aidan]

Eating out (already doing that)
Going to church (as it takes me an hour round trip to get there and back)
diapers (start potty training son..but then pull ups would cost about the same)
swimming pool (takes about 1000 gallons of water)
fish and fish tank (care and food and cleaning takes a lot)
cable tv (but we have already gotten rid of one of our boxes and the stuff we watch...hbo, starz, etc)
sodas and junk food (trust me i am sure we all could do without that)
buying things for bridal showers or baby showers (when I could offer my photography)

umm....my husband could do without the boat that is for sure...and sell the jet ski we haven't even used (it was a trade on a boat repair job my husband did for a friend) and a trailor (for lawn mowers and such that you see all the time)

[Chop249]

This subject really upsets me. Why should we have to do without when the oil companies were posting record profits at 2 something a gal.? Did anything really go up with the cost of drilling or processing? Doubtful. They are just playing us, the latest thing I've heard is $7.5 up to $12 a gal. I say we tell them they need to do without even greater PROFIT! Those who drive the fuel from the processing plant to the gas stations need to say enough is enough, we aren't going to help you rape the American public and transport your over priced gas any longer. It may be difficult for days or weeks but it may be what needs to happen to keep our economy from collapsing.

[AndrewCCM]

I have a feeling this thread will be closed before the end of the day...

[Mike G]

Any bets on end of the hour?

[Jenny Z]

Originally Posted by Chop249

This subject really upsets me. Why should we have to do without when the oil companies were posting record profits at 2 something a gal.? Did anything really go up with the cost of drilling or processing? Doubtful. They are just playing us, the latest thing I've heard is $7.5 up to $12 a gal. I say we tell them they need to do without even greater PROFIT! Those who drive the fuel from the processing plant to the gas stations need to say enough is enough, we aren't going to help you rape the American public and transport your over priced gas any longer. It may be difficult for days or weeks but it may be what needs to happen to keep our economy from collapsing.

That's an interesting idea, but there's a wide disconnect between your post and reality. You've got to deal with this somehow, and budgeting yourself in other areas is a way to deal with it.

Even more of a problem is the growing price of food, due to government-mandated Ethanol subsidies. Other than your vote in November, there's not much that can be done about that either. (Please don't take that as a sign to start a political argument, don't want any of that in this forum)

So what do you do? You buckle down and budget yourself. Or, you go hungry. Take your pick.

Everything will work itself out. The Economy has ups and downs. You just have to ride them out.

[eRoc]

Originally Posted by Chop249

This subject really upsets me. Why should we have to do without when the oil companies were posting record profits at 2 something a gal.? Did anything really go up with the cost of drilling or processing? Doubtful.

Supply vs. Demand. They have a product. We need that product. We're going to pay for that product. No different then any other product out there on the market.

[brad]

Originally Posted by Chop249

This subject really upsets me. Why should we have to do without when the oil companies were posting record profits at 2 something a gal.? Did anything really go up with the cost of drilling or processing? Doubtful. They are just playing us, the latest thing I've heard is $7.5 up to $12 a gal. I say we tell them they need to do without even greater PROFIT! Those who drive the fuel from the processing plant to the gas stations need to say enough is enough, we aren't going to help you rape the American public and transport your over priced gas any longer. It may be difficult for days or weeks but it may be what needs to happen to keep our economy from collapsing.

Avoiding the politics of the situation... consider this.

A Company creates and sells widgets. Those widgets have components A and B, which they purchase at $10 and $5. It costs them another $5 in labor and expenses per widget to create it. They price the widget to sell for $30, giving them a 33 1/3% profit per widget.

Suddenly, there is a price spike.. component A now costs $20 and component B now costs $10. The price increase on the widget rises to $52.50. The company is making the exact same percentage per item in profit as they were when it was $30, but the dollar profit has more than doubled.

This is what has happened to the Big Oil companies... only their profit margins are more like 8%. They aren't making a lot more percentage than they were before (and some people are saying they may actually be taking less of a percentage), but because their component costs are so high (oil has DOUBLED in the last year)... and their price is done on a percentage, not a dollar amount, their profits are actually up. Combine that with record demand and..... well...

Let's put it in terms we photographers might be able to follow. Let's say you sell an 8x10 that costs $4 to print for $8... now, your lab decides that they are going to start charging you $8 to print that same 8x10 -- are you going to keep your price the same, set your price to $12, or set your price to $16?

Me, I'd set my price to $16. Standard keystone markup.

[LegacyPhotographic]

Agreed. There are always two sides to pricing issues.. and the consumer side is usually based off ignorance.. not in a negative sense, just that well.. it isn't necessarily MEANT to be known. But it boils down the the topic of the original post. What are your priorities? Is it really worth it to moan and groan about 3.5-4 bucks a gallon for gas (which runs our vehicles and allows for transportation) when so many fork out 5 bucks easy for their morning 12oz Starbucks coffee which really serves no purpose other than to satisfy a physical addiction?

There is a LOT more involved in the costs of refining and shipping oil for use in gas than there is harvesting, shipping, and processing coffee beans.. when you think about all the uses for gas/oil etc, we've been getting a HECK of a deal costwise for a looooong time. That time has run out for the time being, and as already mentioned, we've just got to adjust our budgets to make up the difference.

[snidow]

Here is my list:

1. less gas - just driving less or planning my routes better.
2. less eating out
3. more coupons / spend less on groceries
4. cutting back on other monthly expenses, still trying to determine what to cut back on.
5. less work driving, working from home 2 days a week now.
6. Already bought a beater so I don't have to drive the truck when I do drive to work.
7. less starbucks, I have already cut it down by half and may do more soon.

[Howard Barlow]

I'm just going to pay more for fuel. Buying a new car, or used, may be a good sounding idea, but, put the numbers to it. How many gallons can you pay the difference on for $30K, $20-10-5K? How long will it take you to amortize the cost of the vehicle against the price difference?