How To Love Your Affordable Retirement Living
Have you wondered how to love your affordable retirement living? Did you think you wouldn’t be able to have a fun retirement and have an affordable lifestyle because of your lack of planning?
Maybe you can, but most of us have to face the facts at some time.
Now may be the time for your spending plan to receive some attention. True there may be some compromises, but with a plan, even you can have a more comfortable lifestyle. And before you thought possible.
Actually, you have more options than you think.
As a bonified ringleader of the, “I’m too broke and too tired to plan my retirement group”, I am here to tell you that I resisted a long time. However, when the lightbulb finally came on- it is on to stay.
Have you realized the positive effect planning can have on your life?
As I have shared before, budgeting and I were never best friends. The very word budget, in my mind, said limitations and not enough and control out of my hands.
Where this weird idea came from and why it took hold and set root in my life, I can’t tell you.
But believe me, this happened.
I stayed broke and poor most of my working years because I refused to “budget” my money. Did you?
While it is true, I didn’t make so much money. And the truth is that wasn’t the only reason for my continued state of “not enough” money.
If I had taken the few minutes to make a spending plan, my whole mindset would have changed. There was enough for our needs every month. I lived all those years on edge and tense, worried about how little there was. Actually, I could have been working with how much there was!
When I finally relented and looked at the situation differently. Made a spending plan with how much it really takes to keep our household going, I was pleasantly surprised to find that there was enough.
When you are living your life with this “I don’t have enough to plan” mindset you will find that your weekly and monthly spending take every penny you have.
Make a spending plan and go from the land of want and needy to have and plenty.
The power of mindset
How can your mindset make this much difference?
You tell me- all I know is that this is what happened.
You may have some spending limitations, but you will find they are easier to live with and to cope with, than the not enough mindset.
A plan alone won’t make more money in your weekly paycheck, or your monthly Social Security check.
Reality check here
A plan by itself isn’t enough to remove your bills or reduce them.
It will allow you to do all in your power to reduce the power these things have over you. But you may be surprised when you find that just a bit of awareness makes you more able to meet your expenses. A part-time job may be a reality for you during retirement.
If so, you know, when you have a spending plan how much you need to make to take care of those bills. You are now in the control mode for making the most of what you do have to work with.
Your control mode
When you are controlling your spending with a plan you are on the way to making your life better.
There may be some changes in where you live. In how you live. As well as in what is important to you. All of this is considered when you have a spending plan.
With a spending plan, you can see the bite that credit card purchases take out of your income. Often due to the delayed billing, you often forget you have even made the purchase. You may find the payment larger than expected. The interest goes on forever.
Getting that paid off with some extra hours worked and refusing to use this form of payment can allow a better control of your spending.
This all comes with a spending plan and awareness.
The earlier in your retirement living time you come to grips with your money attitude and your money mindset the more control you will have. When you have more control, you know how to love your affordable retirement living.
You can make decisions based on what you really want to do instead of always thinking “I can’t love living like this!”
The limitations, if you have them are set by you. You decide how to spend your money. When you feel that you have no control, it is harder to make the decisions that your common sense is telling you that you need to make.
This same mindset is what keeps some people spending their last $50 on a carton of cigarettes, convinced they can never quit smoking. This is often something that is clung to as the last bit of control they have.
All to often the cigarettes are purchased one pack at a time, and from funds that should be spent on a more balanced diet. When there is no plan the purchases seem small and unimportant until there is not enough to pay the rent. Or the electric bill.
Often awareness can make a lifelong smoker realize that they can limit their smoking. Maybe help make them see a way to reduce the total amount they spend on cigarettes and help them plan a better way.
You make the choices
When you are making choices between adequate food for the week and cigarettes or junk foods because that was always a bit of comfort for you. Maybe awareness can help you make better choices.
Many retirees feel they don’t have money for “fun stuff” during retirement but easily spend $150 a month on smoking, $300 if they both smoke, which is often the case in a “smokers household.” So if this money is not bringing you fun, making you happy, why spend it. It is a choice you have. The same can be said for the soda’s so many do buy.
What could you do with $300 a month when planning some fun activities? Knowing the choices you are making and their cost is an eyeopener for many. Will it be for you? Would you be able to enjoy some purchases beyond the basic necessities if you made better decisions for groceries?
Most just go to the grocery store and get what they always got, without a spending plan. Retirement-aged bodies have different needs from the working body. Are you making the adjustments you could be?
Eating out is a great social opportunity for most after retirement. This sometimes makes the adjustment from working to retirement easier. It is a good thing if your spending plan allows for this.
If you find that the end of the month and your money don’t come at the same time, there may be some changes needed. Make these changes with awareness, and a plan in mind.
When you control how you spend your money, using a “spending plan” instead of a “budget plan” you will be in control of your money.
What will you control
If changes must be made, or more income is needed, and you decide to continue living where you can’t afford to live, you are making this choice.
It may be worth it to you to have limited funds for other areas and spend more on where you live. These are all personal decisions, and when you make them for yourself, you will be happier. Your frugal retirement living will be made for your self, knowing what you are getting for your money.
Don’t give this control away to someone else, if you do not have to.
If there are true money issues that you can’t plan for or figure out how to handle, getting help may be your only option. However, don’t give this control away until you have given it a try.
Working during retirement, when done by choice can be a blessing. Will it be one for you? Know how long you need to work during retirement to be more comfortable with your finances. Six months? Five years?
Knowing there will be a time you don’t have to work to pay your bills makes going to work when your friends have retired makes this easier to do. You are in control. You have more power than you think. Will you use it?
This is how to love your retirement living.