With Retirement Comes "Frugality"

by Noelle
(Indiana)


Learning to be frugal isn't easy....it takes one step at a time.

Being frugal does not equal being cheap. For example, I love eating out but soon learned that cooking at home made far more sense. When it comes to things I need, I no longer go to a mall to purchase them....I do a lot of online auctions and thrift shops where I can pick up necessary items for a fraction of the cost as opposed to buying them in a retail store.

There are tons of websites that deal with frugality... what it means and how to do it. I'm sure that Wendy could enlighten me (and you) on ways to save money during our retirement years. I love reading her articles as they are always "on spot." I feel blessed to have found her site as it gives me an outlet to vent.

Sometimes, your total debt can be quite overwhelming. But if you adopt the attitude that it wasn't created all at once and you can only get rid of it by tackling it one debt at a time.

When you say "I can" rather than "I can't," you stop making excuses and start coming up with alternatives.

If you’re having financial troubles, the worst thing you can do is sit and fret. Those financial woes won’t correct themselves. Instead, it’s up to you to take control and turn your financial situation around.

Just check out the web to learn how many ways there are to save money....you will find more resources than you can imagine.

Comments for With Retirement Comes "Frugality"

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yes, and take a happy clear stand with others
by: Anonymous

yes, and let your old money spending friends know that you are happy eating at home and then having a cup of coffee out or taking a walk out with them.

Make it clear that you still want their friendship if they are willing to accept that you are now happy budgeting. Otherwise: bye bye to them.
Frugality vs. Cheepness
by: Ricardo

I would suggest that frugality is "wise spending", thinking thru the expenditure as to it's practicality at any given time.

Do I need it, OR, do I want it?
Obviously there is a HUGE difference.

Unfortunately during these times, I believe MOST people want things that often times they cannot afford to purchase, so, pull out the plastic and dig yourself deeper in debt......."but I want it NOW, the hell with tomorrow.

Well, that may not be a problem in the immediate future, but down the way someone has got to "pay the piper" for foolish financial behavior.

My dear Mother was a VERY frugal person. She was able to "dunk the chicken", so to speak and make it last for more than just one meal. I guess that I learned from her, "do not spend what you do not have." "If you cannot afford it, you do not NEED it."

I grew up with those wise words that meant nothing to me at the time. I now cherish them as "gold." I still know how to "dunk the chicken", but can now in retirement afford the filet if I choose.......sometimes as I "dunk the chicken" and thoroughly enjoy my frugality, I smile and say, "thanks Mom!"

Spending less than I made and living within my means has certainly paid off, and my Mother is looking down and saying, "I told you so!"
Tell us more....
by: Sandy

Noelle - are you willing to share some of the sites you use? Would others do so as well?

I use "retailmenot" whenever I buy anything and can usually find some type of coupon for my purchase. Just sharing for us frugal folks.
HAVING TO BUDGET
by: Anonymous

When you retire you have to live on a reduced income which is a lot less than your salary that you earned when working.

You need to reduce your expenses & outgoings and learn to budget where your money has to go before you can even think of spending on your hobbies/interests. You learn to shop carefully in order to make your limited funds go further.
I Made My Retirement A Priority
by: Linda/Nevada

I am one of those retirees who didn't save for retirement. I had just started a 401K account a year before I got laid off so the account did not have time to grow. I am a single parent who always put my child first and neglected to plan for my retirement. There was just only so much money to go around to pay for living expenses.

When I was laid off, I felt hopeless, rejected, and fearful. I attempted to find a job but the age factor was definitely a problem along with not having the skills that employers were looking for.

I had to find a plan to survive so I wrote down a budget to match what I would receive in Social Security benefits. At first, it seemed impossible, but my tenacity in making it work paid off.

I took each line item of my budget to find ways to reduce that number. At the end of this process, I was surprised to find that I could survive on Social Security. It is still a work in progress but I am getting better and better at living within my budget.

One of my so-called friends at the time. said it would be impossible to live on that amount but I was determined to make it work because I began to
feel the relief of not having to worry about getting a job in a limited amount of time.

Retirement instead of employment became my priority. So far, I am living frugally but free of the stress I always felt when I was employed.

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