Top Ten Luxuries You Can Live Without

It’s hard on everyone during times of economic downturn. Jobs are unsecure and may pay less. Savings begin to dry up and investments pay less or even lose value. During these times people must stretch their budgets and reduce unnecessary spending. Luxuries should be the first thing a person looks at cutting back on. Luxuries are by definition unnecessary, and can usually be cut back, eliminated or replaced with cheaper alternatives. Here is a list of 10 luxuries each person should try and do without.

1. Cable TV: The number of channels on cable TV is staggering these days, as is the price they ask you to pay for them. If there is a show that you feel you cannot do without, check out internet sites such as Hulu.com to get your weekly dose of it.

2. High End Cell Phones: Cell phones themselves could hardly be called a luxury item these days, but the high end models with all the James Bond features certainly are. Basic cell phone models usually have more than enough features to keep the average user in touch with the world and they won’t break your bank.

3. Gym Membership: Modern gyms are filled with many amazing machines and gadgets for helping you work out; and most of these you will never use. With little equipment, you can do an amazingly well rounded workout at home.

4. Eating Out: Eating out at restaurants can be very expensive. Even eating at the cheaper fast food restaurants can add up fast when you do it all the time. Use the opportunity to improve your cooking skills at home.

5. Unnecessary Driving: Gas prices are relatively high. Cut back on unnecessary trips and use public transportation when possible. You can save time and money in this way.

6. Going to the Movies: Movies are expensive to see in theaters these days and the cost of popcorn and soda is outrageous at best. Renting a movie from a video store will save you a lot of money as long as you remember to return it on time.

7. Luxury Items for Pets: We all love our pets, but do they really need the rhinestone studded jacket and matching collar? Your pet will love you even without these extravagances. What your pets want most is your love and attention, which is much cheaper.

8. Long Distance Vacations: With rising prices in gas also come higher prices on flight tickets. Choose destinations closer to home for your vacations. Chances are you are closer to an interesting destination than you think.

9. Name Brand Groceries: When shopping for groceries pick the store brand item over the well known brand. You won’t lose as much quality as you think, and you will save a lot.

10. New Clothes: In a bad economy, buying clothes new clothes may be a bad option. There are plenty of places, such as thrift shops, where you can find quality name brand clothes at reasonable prices.