Thursday, July 26, 2007

Poll: Cutting Expenses

Interestingly I decided to end the Poll about "Cutting Expenses." I was very surprised that the first item to be cut when in debt repayment mode was groceries. People chose groceries at 45%, with eating out coming in at 29%.

This was shocking to me. I personally voted eating out because I feel that category is discretionary. If I were paying off debt I'd stop eating out period, and my grocery bills probably would go up a bit.

Eating out is really a luxury to me. Also I would probably cut stuff like cable and fun money before the groceries, because I see those as extra. I however see people's point that groceries are the easiest line item to cut because it's usually over-inflated.

But I wanted to ask, how much easier is it to bring your lunch one day a week and save $5-10 right there than cutting $5-10 at the store? Or bring your lunch everyday and save $25/week instead of cutting $25 from going shopping?

But perhaps all those voters can convince me otherwise. The people who voted groceries probably don't eat out at all.


Fabulously Broke in the City said...

I'm with you.. I voted "eating out" as my vice. I don't eat out much except when I have to (in another city, no home, living out of hotel room).. but I'm surprised groceries was the first to get cut.

Maybe because it's the smallest, most variable and easiest to 'cut' when you forego milk for $3??

Personally, I think it's also because people know they can cut pop (soda), chips, candy, cookies and all that bad stuff out of their grocery bill if they wanted to pinch a bit...

Living Almost Large said...

I also wonder because I don't buy chips, cookies, and candy. I do buy soda however, though that might stop.