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As for food - we eat a lot of chicken anyway. We eat quality food at home, but its inexpensive - just suits our tastes more. I am looking at prices more in the stores and trying to cut back. But the rising prices in restaurants is certainly scaring me away.
I already bought the store brand for many products, sadly I found this week that the Walmart reduced cal yogurt is not nearly as good as the Archer Farms (Target brand) yogurt. However, it is a difference of $0.50 per at Target vs. $0.33 at Walmart.
As for eating out... I still spend too much, but lately I've moved away from "sit down" full service restaurants and more toward quick casual. New favorites are Moe's, Mama Fu's, and Jason's Deli. All very tasty, fast, and about $15 for two people at dinner.
Do people have too much personal debt? Yes. Does a bad economy call for action on this where a good economy did not? No. Do people save too little for retirement? Yes. Does a bad economy call for action on this where a good economy did not? No.
I was doing what I thought was right 10 years ago, last year and this year. I have never seen any reason to change my personal financial decisions based upon the economy.