Cash crunch

Call it financial dieting.

Since the economy crashed in 2008, a lot of people have been readjusting their spending, cutting the "want" items from the "need" ones in their budgets and making lifestyle changes.

Some are small changes that go unnoticed by others, such as saving up for something instead of automatically reaching for the credit card.

Other financial dieting strategies are a bit more detectable: Scan the cars at any parking lot and see how many sport their spare tire. Drivers also are not spending on new cars, either. A recent Jiffy Lube survey of drivers found that 36 percent had between 100,000 and 200,000 miles on their vehicle, and another 8 percent had more than 200,000.

Some people turn to web sites such as giftcardgranny.com to catch deals on partially used gift cards. A White House Black Market gift card worth $708, for example, costs $531, a 25 percent savings. Many cards have no expiration date.

take the bus

Roy and Verna Burrows' financial dieting includes taking the bus more often, up from one trip a month to one a week.

This day, the couple were at the Westcliff Transit Center and Park & Ride, 25 S. Durango Drive, to take a test run to the airport, in anticipation of a trip to visit family.

"We wanted to see what it'll be like before we'd be hauling suitcases and all that," Verna Burrows said.

Regional Transportation Commission of Southern Nevada fares start at $2 for a single ride and $3 for a two-hour residential pass and go up to $5 for a 24-hour residential pass, $15 for a three-day residential pass, $20 for a five-day residential pass and $65 for a 30-day residential pass.

Local residents may use

residential passes on the Strip and Downtown Express and The Deuce on the Strip routes by presenting their Nevada ID.

Ticket vending machines accept exact change, or one can pay with a credit or debit card. Machines are at various Strip and Downtown Express stops, Centennial Express stops, MAX passenger stations, the Bonneville Transit Center, the South Strip Transfer Terminal, the Centennial Hills Transit Center and Park & Ride, the Santa Fe Station stop on North Rancho Drive and at the Westcliff Transit Center and Park & Ride.

Except for a 30-day pass, which is validated upon the first use, passes are validated and become active as soon as they're issued.

Tickets also can be ordered online, but they are delivered by mail, so allow for time to receive them. The Transportation Commission's Club Ride Commuter Services also can provide substantial savings.

For more information, call
228-7433 or visit rtcsnv.com.

Stop eating out and Learn
to cut back

The Burrows also are cutting back on how many times they eat out. Before the economic crunch, they'd go out to eat one or two times a week. Now it's more like twice a month.

"And we're very much making use of the D ollar M enu," Verna Burrows said.

The couple are retired, and how well their stocks are doing determines their monthly budget. Last year saw most of their stocks dip way down, cutting their budget in half, they said.

"I don't think I've bought a new pair of shoes in a year," Verna Burrows said.

Nancy Haskin said she and her husband already live a simple life. They like to eat out at the all-you-can-eat Souper Salad a couple of times a week, "mostly because they're always offering us two-for-one deals."

The couple are supporting more than one household,
helping out their two children, one of whom who was laid off when his employer of 16 years downsized. With gasoline prices climbing, the Haskins began consolidating errands each week so they make only one trip.

It's been especially hard with spiking gas prices that recently jumped nearly 40 cents in two weeks.

"The price of gas ... we're near the breaking point," Nancy Haskin said.

Use credit wisely

If anyone knows about financial dieting, it's Barbara Davidson of Sun City Summerlin. She was laid off two years ago. Although she found a new job, she now makes a third of what she earned before.

"I manage my credit card differently," she said. "Before I wouldn't pay a lot of attention to the balance. Now I make sure it's always paid off each month."

She pays cash at the pump, as credit card users can be charged a few cents more per gallon. Those prices in tall letters? They advertise only the cash price.

Instead of going out for lunch every day like before, she takes her lunch to work. When she does eat out, it's almost always on a two-for-one deal.

"With coupons, sometimes it's cheaper than eating at home," she said.

She's cut back on her "entertainment gambling" at the local casinos and racks up points, which she usually redeems for a free dinner.

Her shopping habits have changed, too.

While doing early Christmas shopping last year, Davidson went to a major department store to purchase a business suit for her daughter. She found one by a popular designer and bought it.

Two weeks later, she was at Ross Dress for Less and found professional outfits by the same designer there but at discounted prices.

"I bought her two suits and a blazer, and I still paid less," she said. "I went ... and got my money back."

Do without luxuries

Another person practicing financial dieting is a divorced mother of three who asked to remain anonymous. She is living on a fixed income and has one child in college. She said everyone she knows is being careful with expenditures these days. She has gone through her own budget, seeing where she can slice and dice.

She has cut out the little things, such as weekly manicures.

"I looked into cutting out premium cable TV channels, but it only saves $10 a month," she said.

Also gone are the pool service and regular dog grooming visits. She used to have the house cleaned each week.

"I still have my housekeeper come once a month because she is like family, and I know she is struggling as much as, or more than, the rest of us," she said.

It doesn't help that she's upside down on her house, she said.

"We eat home more now, and I feel bad about that, too," she said, "but I cannot be a one-woman economic recovery. I have to face my situation and cut, cut, cut to survive."

Summerlin resident Rhonda Dabney has four daughters, three living at home. She has cut back in every area she can think of -- giving up premium channels so she just has basic TV, switching to a lower cell phone plan and clipping coupons for grocery shopping.

Her children ride the bus or get a ride from their grandmother. All are looking for after-school jobs so they aren't relying so much on M om.

"The twins are 17, my 'baby' is 16," she said. "I know they'd like to drive, but I can't afford a second vehicle or the insurance to cover them."

It is not a good time for college to be on the horizon, Dabney said. She had another big-ticket item crop up last August -- a car accident in which her vehicle was totaled.

"That threw a wrench in things ... I haggled," she said about buying a replacement. "I went to a lot of car dealerships -- that was a nightmare."

Every time she fills it up, she said, she wishes she had gotten a vehicle with better gas mileage.

Jessenia, who asked that her last name not be used, is 20 and already facing debt from student loans. She lives with her parents, a situation she doesn't see changing soon. Besides the loans, her expenses are her car payment, car insurance and vehicle upkeep.

"I want to get rid of it because it's a real gas-guzzler," she said. "Filling it up with gas takes up almost all my money."

She relies on her boyfriend to take her out to eat or to the movies. Jessenia spends only minimal amounts on herself. And if she does use her credit card, she makes sure to pay it off at the end of the month.

"When I go 'shopping,' I only go to the mall and walk around," she said. "I just look and usually don't buy anything."

Contact Summerlin and Summerlin South View reporter Jan Hogan at jhogan@viewnews.com or 387-2949.