Boomers on a Budget: What to Cut (and Not)

I am very, very reluctant to share with you my philosophy about budgeting in the economic downturn. We can all share tips about budgeting, but who is to say that a philosophy about these matters is worthy of discussion? (I'm the kind of teacher who resists grading a student's philosophy. In practical terms, my reluctance means that almost all students receive "full points" when I review a philosophy in a portfolio assignment).

So, in as short a span as possible, I'll address my personal philosophy about what to cut (and not) as the economy continues to falter. Here it is: try to minimize the impact on people who serve you.

• The carhop at Sonic still gets a tip.
• The house cleaner keeps me as a client.
• The hairdresser schedule remains intact.
  

I visited with the hairdresser this week and we discussed the impact of the economy on her business. October was bad. Lots of canceled appointments, especially for hair coloring. November is better and predictive of a typical holiday season. But she is not looking forward to January.

With humor and assurance that I was making no such proposal, I told her about a blog I read recently: the blogger quit going to her regular hairdresser and instead located a stylist (via craigslist) who was willing to barter services. The exchange was hair coloring for closet organizing, both being accomplished at the hairdresser's home. My own hairdresser shook her head. "Not good. She's cutting into her bill-paying income. What's she going to say to her bank? I don't have money for this month's house mortgage, but the house has really clean closets."

© 2008 Mary Bold, PhD, CFLE. The content of this blog or related web sites created by Mary Bold (www.marybold.com, www.boldproductions.com, College Intern Blog) is not under any circumstances to be regarded as professional, legal, financial, or medical advice. Or education advice. Or marital advice. Or even a tip.