How To Cut Back on Discretionary Spending

In my most recent post, “Not by Bread Alone“, I talked about putting together a list of activities that you and your family want to continue, then to prioritize that list. In this post I will discuss many of these activities individually.

In case you haven’t been following my series, “A Family Guide to Living on Less”, you can catch previous articles here:

1. How Deep is the Hole You’re In?
2. Luxuries and Necessities
3. Creating a Budget
4. Credit Cards are for Emergencies
5. Not by Bread Alone

Restaurant Meals

Most people consider sit-down restaurants and fast-food establishments in separate categories. Certainly, fast-food restaurants cost less, but they are not as economical as eating at home or packing a lunch for work or school. Still, if your family’s idea of an occasional treat is eating somewhere else and not having to do dishes, you might want to consider a fast-food dinner for one at a sit-down “family” restaurant.

If eating out is one of your family’s top priorities, here are some other options:

• Buy dessert and coffee instead of a whole meal
• Go for early bird specials
• Eat lunch rather than dinner out
• Use 2-for-1 coupons
• Order appetizers instead of entrees
• Go to all-you-can-eat buffets

Movie Theaters

Many big cities are notorious for high movie ticket prices. Movies in smaller cities can also be expensive if there is little competition among theater companies.

Movies also tend to be a high priority among older children and teens. Having seen the latest hot film often confers social status, and kids don’t want to feel left out. Younger children, too, may badger you to see the latest Disney release, not just once but multiple times.

The key here is getting kids to wait until the film arrives at second-run theaters or comes out on video. Younger children, who tend to like seeing the film over and over again, will probably be appeased if you take them to see an old favorite at a second-run theater, a museum, or the library. Then, when the new film’s first run is over, you can take advantage of seeing it at a less expensive venue as well.

If you or your older child are fairly indiscriminate moviegoers-seeing just about anything that is “hot”, a genre that you like, or with an actor or actress you like-you must become more selective. If you’re watching every penny, you don’t want to waste it on a movie you won’t enjoy. Wait for the reviews to come out, or wait for someone you trust to give his or her opinion first.

What should you do if a friend invites your child to the movies? Although the price of a children’s or student ticket at even a first-run theater is usually less than $5, this may be more than you can afford. It is really difficult for children to lose social opportunities because of financial hardship, so, if possible, you should budget for these kinds of spontaneous invitations. Perhaps your child can earn the money through yard work or baby-sitting in the neighborhood, or he or she can do additional chores aroudn the house. Pack a snack so he or she won’t be tempted to buy from the concession stand.

If watching movies is one of your family’s top priorities, here are some other options:

• Wait until the movie comes out on video
• Go to matinees rather than evening shows
• Go to the area’s cheap theater
• Watch for film festivals
• Wait for it to come to cable TV

Video Rentals

Renting videos is a good option for your family if you are accustomed to going to the movie theater but can no longer afford it. Even with renting videos, you can save money. If you’ve been using one video store for years, it’s worth your while to shop around. Stores vary widely in their selection, rental plans, and prices. The largest stores with the greatest selection will charge the steepest rates. Try the smaller places.

If renting videos is one of your family’s top priorities, here are some other options:

• Borrow them from the library instead
• Go to a cheap video store
• Rent them Monday-Thursday (off-peak) for less
• Subscribe to Netflix
• Subscribe to Blockbuster

In my next post, I’ll provide 25 Free or Low-Cost Entertainment Ideas.

Check out these other great posts!

Not by Bread Alone

Tagged as: fast food, movies, renting, restaurants, theater, videos