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Ingrid Zaharris started cutting back drastically in May. She and her 6-year-old daughter moved into a smaller home in Allen, Texas, after realizing that she would be unable to afford the summer electricity bills coupled with the cost of rent for her house.

Financial worries also forced Zaharris to take her daughter out of gymnastics classes and stop the lawn service.

"I'm just trying to get back to basics," she said, adding that she has considered even getting rid of her car. "I'm just trying to get rid of those extra things just to get by."

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation. iReport.com: Read more of Zaharris' story

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation.

Ingrid Zaharris started cutting back drastically in May. She and her 6-year-old daughter moved into a smaller home in Allen, Texas, after realizing that she would be unable to afford the summer electricity bills coupled with the cost of rent for her house.

Financial worries also forced Zaharris to take her daughter out of gymnastics classes and stop the lawn service.

"I'm just trying to get back to basics," she said, adding that she has considered even getting rid of her car. "I'm just trying to get rid of those extra things just to get by."

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation. iReport.com: Read more of Zaharris' story

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation.

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation.

Zaharris is one of many iReporters who shared stories of dealing with a worsening economy. Like many others, she wonders how she wound up in such a tough financial situation.