US Citizens Need Their Own Spending Cut – Not Just The Government

It is early 2009 – there is a new administration, stimulus package, bailout programs, and promises for more to come. However, these plans will take months or even years to come to fruition. Debt-ridden Americans need help now – today!
“Joe the Plumber” cannot control the stock market, obscene spending by large corporations, price of oil per barrel and other external forces are affecting our daily lives. BUT, each individual can control their own spending. Living beyond our means was “the American way” and, obviously, our thinking must change.

US Citizens Need Their Own Spending Cut
Every person needs to formulate a plan, make a budget, make sacrifices, and take control of what they can. Here are some ideas:

Eliminating non-essential debts is the first step – cancel the cable TV

Stop buying expensive Lattes or electronics

Change your cell phone plan to specified number of minutes (family plans included)

Eliminate expensive text messaging

Try forming a carpool at work

Use public transportation

Eliminate multiple autos if possible to save on gas, insurance, and maintenance

Stop shopping at the most expensive grocery store in town – check out the discount stores, dollar stores, and purchase “off brands”. Off brands are usually manufactured by the major name brands anyway.

When an individual has done all this i.e. covered their minimum basis, then they can investigate other options to save money available. Refinance to a lower rate, get a loan modification to lower your monthly mortgage payment. Sell your home and buy a new cheaper home.