You know why it’s hard to keep a penny-pinching lifestyle? It’s because we are not used to it! As prices of commodities as well as those of small luxuries we usually enjoy every now and then start rising to unimaginable proportions, we, as seniors with limited income and 101 medical bills to consider, are subjected to continual lifestyle adjustments, mostly foregoing the things we’ve grown to love over the years. I, personally, find it annoying when I stumble upon articles condemning my early morning lattes while firmly suggesting that I just bring my own coffee from home. Although I agree I would have been a millionaire if I didn’t indulge my SB coffee cravings every morning for years, I still prefer to have someone tell me why breaking my habit is not at all necessary in keeping my nest egg in good shape!
However, whether we like it or not, we have to cut corners in order to survive, or at the very least, keep a good credit score. Seniors or no seniors, saving money and thinking of your future is very important. Good news is, we can still save money and stay happy no matter what. How do you do that? Well, proper mindset is the key.
Staying away from the nasty deprivation feeling is number one. Saving money should be a fulfilling feeling for you and not in any way leave you feeling deprived and frustrated. Instead of focusing on the “only what you need” motto, try to consider your feelings too. This way, you won’t risk losing yourself in a shopping binge just because you felt bad about not buying something your heart really desires. What you need to teach yourself though, is knowing when is enough so you won’t waste a single dime when buying the things you like. Think sustainable living, its principle includes reducing your ecological footprints. To do so means you just have to acquire things according to what is enough for you and not waste anymore resources by buying/using things in excess. Try to aim a comfortable lifestyle instead of subjecting yourself into a life that is less realistic.
Never depend your spending habits on the amount of money you earn or receive. If you just got a raise, it doesn’t automatically mean your spending allowance go one step higher as well. Again, if you are already living comfortably, what’s the use of adding more expenses into your life?..
Proper planning is the key to a comfortable and secured retirement life. It’s the decision we make or how we plan to pay for the things we really need rather than doing without them entirely. If you plan to move after retirement, assess your financial standing and determine if you can perhaps pay for it now rather than later. Bottomline is, knowing what’s good for you and finding ways to saving some but still attaining it would be the best way to live your life comfortably and well, debt-free!