What are some easy ways to cut back during a layoff?

[Anonymous]

Anonymous wrote:Going out to eat, streaming subscriptions, Starbucks, homeowners insurance, car insurance, carrying a balance on your credit cards. Look into all those to cut costs.

Stop ordering soda at restaurants, get an appetizer or dessert but not both. There are lots of way to cut cost but still enjoy a meal out once in a while. No impulse buying. Only buy what’s on your grocery list.

Get takeout so you don’t feel you need to tip the amount you would a table server.

[Anonymous]

Anonymous wrote:

Take inventory of your kitchen cabinets and freezer and meal plan around what you already have in-house. We are trying a low-spend January and that is one of the better tips I've read.


How does that reduce expenses, though? I get that, using food that you have and not replacing it will help temporarily with cash flow, but you'll eventually need to replenish that stock, right?

Follow the sales. Plan meals around the sales. Each grocery chain has lower prices on specific items so find out which chain has the best prices on the higher priced items that you use. Prices are going to drop on ham and turkeys now that we're past the holidays, so it's a good time to buy a couple for current/future use. If you buy ham/turkey lunch meats from the deli, consider substituting fresh turkey for example, and roasting it yourself. After carving off the meat, use the bones/scraps to make hearty soups in bulk, and freeze portions.

[Anonymous]

Anonymous wrote:Not sure I understand the need to cut back? Layoffs are awesome. They almost always are accompanied by some sort of garden leave and/or severance. Just land a new job that pays the same or better prior to the end of your garden leave and you’re good to go. What’s the issue?

DH was laid off in July 2023 and continued to receive full benefits and compensation through October 2023. Furthermore received a $100K severance (3 months salary) in October. Meanwhile, DH was already sporting a new job in mid-August that paid 15% more than he was making at his previous job.

So, yeah, getting laid off is awesome. DH can’t wait until he is lucky enough have it happen again. OP, is your DH even trying to get a new job or is he just some kind of dud?!?

That isn't much at all. Yikes!

[Anonymous]

Anonymous wrote:

I switched from Verizon to Mint. My monthy unlimited bill went from $190/month to $30/month for two phones. No difference in service.

Actually, it is a different service. Mint uses the T-mobile network and operates at a lower QCI level (i.e. traffic is deprioritized). If you are (for example) at a crowded event, with many mobile phone users on the T-mobile network, you will get worse (and potentially no) service. This may or may not be an issue for you, but the quality of service is not the same with MVNOs as it is with the actual network operators (Verizon, AT&T, and T-mobile).

I've noticed no difference at all except for saving nearly $2k per year.

[Anonymous]

Anonymous wrote:Not sure I understand the need to cut back? Layoffs are awesome. They almost always are accompanied by some sort of garden leave and/or severance. Just land a new job that pays the same or better prior to the end of your garden leave and you’re good to go. What’s the issue?

DH was laid off in July 2023 and continued to receive full benefits and compensation through October 2023. Furthermore received a $100K severance (3 months salary) in October. Meanwhile, DH was already sporting a new job in mid-August that paid 15% more than he was making at his previous job.

So, yeah, getting laid off is awesome. DH can’t wait until he is lucky enough have it happen again. OP, is your DH even trying to get a new job or is he just some kind of dud?!?

Are you a complete jerk? So insensitive

[Anonymous]

Anonymous wrote:

Anonymous wrote:Going out to eat, streaming subscriptions, Starbucks, homeowners insurance, car insurance, carrying a balance on your credit cards. Look into all those to cut costs.

Stop ordering soda at restaurants, get an appetizer or dessert but not both. There are lots of way to cut cost but still enjoy a meal out once in a while. No impulse buying. Only buy what’s on your grocery list.

Get takeout so you don’t feel you need to tip the amount you would a table server.

I would avoid take out, movies, mall - Network by grabbing coffee, not meals. free entertainment- walks, museums. Purge closet and home, and try to sell items on poshmark and ebay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

I switched from Verizon to Mint. My monthy unlimited bill went from $190/month to $30/month for two phones. No difference in service.

Actually, it is a different service. Mint uses the T-mobile network and operates at a lower QCI level (i.e. traffic is deprioritized). If you are (for example) at a crowded event, with many mobile phone users on the T-mobile network, you will get worse (and potentially no) service. This may or may not be an issue for you, but the quality of service is not the same with MVNOs as it is with the actual network operators (Verizon, AT&T, and T-mobile).

I've noticed no difference at all except for saving nearly $2k per year.

Same. The service is just fine. But I guess I don’t spend a lot of time at crowded events!

We pay $30 a month for unlimited (spouse), $20 a month for 15gb (me) and $15/mo for 5gb (kid).

I think this is a great tip. I’m always stunned by how much some people pay for phone service, and I can’t imagine what they’re getting for the extra money.

[Anonymous]

Anonymous wrote:Go through your credit card bills and look for recurring charges and assess their value. Fitness membership? How often do you go, could you go to a less expensive place. All the streaming services - can you reduce. Land line phone - do you need it? Look at everything you spend money on and see if you can cut or pare back. Also, consider having your partner sign up for Uber or Lyft as a way to quickly generate some income while looking for a job.

I would do instacart before uber or lyft

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

I switched from Verizon to Mint. My monthy unlimited bill went from $190/month to $30/month for two phones. No difference in service.

Actually, it is a different service. Mint uses the T-mobile network and operates at a lower QCI level (i.e. traffic is deprioritized). If you are (for example) at a crowded event, with many mobile phone users on the T-mobile network, you will get worse (and potentially no) service. This may or may not be an issue for you, but the quality of service is not the same with MVNOs as it is with the actual network operators (Verizon, AT&T, and T-mobile).

I've noticed no difference at all except for saving nearly $2k per year.

Same. The service is just fine. But I guess I don’t spend a lot of time at crowded events!

We pay $30 a month for unlimited (spouse), $20 a month for 15gb (me) and $15/mo for 5gb (kid).

I think this is a great tip. I’m always stunned by how much some people pay for phone service, and I can’t imagine what they’re getting for the extra money.

What is unlimited used for,?
Do you use cell for home Internet hotspot also? Watch movies all day on the phone?

My kid uses a $7/mo $0.02/MB $.01/minute $0.01/text paygo plan for light texting, short calls, and maps/location on the go, and saves heavy usage for wifi at school or home.

[Anonymous]

Anonymous wrote:Partner's last day is in mid-January. What are some low-hanging spots to cut back beyond the very obvious (cooking at home more, reducing random subscriptions)? Thanks.

Post your CC and checking account statement

[Anonymous]

I wanted to second the switch to mint mobile. But we did that (during layoff) on just one phone. Mint isn't great in some parts of US (in DMV just fine) and also failed when we traveled in France. So one spouse kept ATT and other went Mint. Kid on mint.

The eating everything in pantry is a great tip--when we restocked, we re-stocked more frugally.

Also, went through our rewards programs (credit card, grocery/gas etc) and maximized those. Grocery points for gas was one of our bigger savers that we still use post-layoff.

Cleaned out closet: consigned some stuff through 529 in Alexandria (kids clothes) or donated (tax deduction was higher than cash from consign). We also cut a lot of opportunity spending (team photo purchase, commemorative sweatshirt). Like another poster, we tried to keep kids activities and were going to cut at the 6month mark if needed, but didn't get to that.

[Anonymous]

It's not exactly cutting back, but don't be embarrassed about using store coupons.

[Anonymous]

We had a 9 month unemployment during COVID for one spouse.

That made it easy to save on pretty much everything there was nowhere to go and nothing to do. But the lesson is still there- no eating out, no buying something not strictly necessary, shopping only items on sale (our grocery store puts manager special stickers on meat almost every evening so I figured that timing out and shopped behind the butcher as he marked items down), we canceled cable entirely and switched cell providers. When it dragged on we didn’t sign the kids back up for aftercare and instead juggled my work schedule with his interviews to cover aftercare ourselves, only got haircuts for the interviewing spouse, didn’t renew gym memberships when the contract came up….

[Anonymous]

Do an insurance review day (car, home, umbrella etc.) and haggle to get lower rates.

Agree with eat from the pantry and cook frugal meals at home
There are a bunch of sites where you just enter your ingredients on hand and they make recipe suggestions. It can be fun.

[Anonymous]

For us, we'd have to cut back on the more expensive grocery items (filet mignon); eating out once a week (not to a very expensive place, but it still racks up); activities (DC's activity is about $600/month); streaming services (probably totals $100/mo.

I think we could save $1200 to $1500 per month right there.

And then college savings contribution - that would be another $1100.

I think we currently spend about $10K per month, including the above items.

No car payment, or other loans, other than mortgage.