Eliminating habits of consumerism

Dear Reader: Americans are the world's most prolific consumers. We are the only members of the human race who will spend $300,000 for a 2,500-square-foot home with a huge, two-car garage — jam pack it with two ATVs, a boat trailer, camping equipment, a stair climber, rowing machine and weight bench, a riding mower, a Honda motor bike, two used but workable color television sets, an older laptop and PCs, trays of mechanic's tools, several sets of luggage, myriad electronic games and toys, furniture and boxes of used clothing — then park two $40,000 SUVs in the driveway.

Consequently, you're squeezed by credit card bills, merchant charge accounts, auto and home-equity loans, and mortgage payments. It's a far cry from the good old days when we only had to choose between paying for food or prescription drugs.

Now many of us are over our clavicles in debt because our common-sense gene lost the battle with our consumption gene. The chickens have come home to roost because we raced to embrace the world of conspicuous consumption and convenience technology. We are now damned by debt.

Our social, political and economic structures have reached critical mass and could buckle any day. Many of us who can't remain standing under this weight must declare bankruptcy. And those of us who can stand must return to basics. So here are some recommendations to lighten the load and travel the old road back to when folks talked face to face instead of sending text messages:

•Reduce tax liability. You're probably paying real estate taxes on a home value in excess of the current market price. Tell the county tax appraiser to reappraise your home.

•Join Costco and get their American Express Card with a 5 percent discount on fuel purchased at any gas station in the country except Walmart. This move will save you 20 cents a gallon.

•Cancel your whole life insurance plan and buy a 20-year term policy.

•Drop PMI. Most homeowners who didn't have 20 percent equity at the time they bought their home were required to purchase private mortgage insurance that cost about $500 per year per each $100,000 of the mortgaged amount. But if your mortgage is now less than 79 percent of the appraised value, the Homeowners Protection Act of 1998 requires your PMI be canceled.

•If you have a cell phone, cancel your landlines and save $400 a year.

•Increase the deductible on your homeowners and auto insurance and cancel some of your cable packages. Stop paying big checking account fees to BankAmerica or Wachovia by moving your account to Washington Mutual.

•Buy private label groceries and kitchen items from Kroger or