Hard times hit home

They say the first cut is the deepest, but a lot of cuts may go deep these days as Americans think hard about what they can eliminate from their budgets to make ends meet during tough economic times. Area residents are no different. Earlier this week, we asked a handful of folks downtown what they're giving up. Here's what they had to say.

Maurine Bettner
Giving up driving to visit with her sister

"I don't even go to Denver to see my sister, because of the price of fuel. I'm waiting for her to come see me, but she won't because of the price of fuel."

Bettner has also cut back on eating out and entertainment. "When you're older, on fixed income, it especially hurts. I go into the grocery store now, and the price of eggs has about doubled."

Jeff Lobato
Giving up a house

Lobato said he's delaying his plan to buy a house for his family, and will continue renting.

"With the residential market the way it is, I think I'll just sit tight and let it peter out. Everybody is uneasy. It's time to just fly under the radar and see what happens."

Jeanne Barta
Giving up fast food, Starbucks, driving trips, and a spotless house

"We're definitely giving up going out to eat, Starbucks, and not having the cleaning lady come as much."

She and her husband have six children, so she's felt the cost of food. But the biggest problem for this stay-at-home mom is the price of gas - Barta drives a 15-passenger van that gets 11 miles per gallon. "We're not going to the mountains as much," Barta said.

Carl Brandenburg
Giving up retirement

Brandenburg planned to retire this year, but those plans were dashed by the stock market swoon. "My window is gone for two to three years, and maybe up to five years. We're still going down, so it will take that long just to get it back up."

He was looking forward to "sleeping late, enjoying life, doing all the things I never have time to do."

Danna Judish
Already gave up luxuries

Judish said her life isn't affected, because she was already frugal. She doesn't go for extravagances and she rarely eats out unless it's cheap - the $5 Subway sandwich in her hand, for example, will last for two lunches.

"I'm actually a missionary, so I live pretty economically already." Judish, who works for Engineering Ministries International, leaves today to help build a medical clinic in western Kenya, where she plans to live more frugally than most Americans would imagine - even in a recession.

Isaac Derek
Giving up nothing

"I haven't been affected one bit. I'm retired military, so it doesn't affect my life."

Derek's military pension, like that of so many other retirees in Colorado Springs, is an island of calm in the economic storm, and his retirement savings are safe and sound in a money market.

Jon Handy
Giving up an SUV purchase

"We're going to hold on to the Corolla right now. My wife wanted to upgrade to an SUV, and I said ‘no way.' That Corolla is gold right now. We just took a road trip in it and left the truck at home."

Handy is the vice president of the Bank of Colorado, so he's experiencing the financial crisis on personal and professional levels. He said he's cutting back on spending, driving less and making some defensive moves with his 401(k), but he's not panicking, and neither are his customers.

Brandon Tramaglino
Giving up the quality and quantity of his food

Tramaglino, who works at Quiznos, said he's had to curb his champagne tastes and insatiable appetite for food. "Oh boy. I have a high metabolism and I eat a lot, but I'm cutting back on all my sweets and everything." "Everything" includes utilities, gas and food, but food is clearly the most painful for him.

"I can't just pig out whenever I want. And I have to buy store brands instead of the premium brands," Tramaglino said.