Hi, folks. Since I am new at being “retired,” I thought I would ask you for some advice. I am already learning how to cut expenses while living on a fixed income, but if any of you have any tips for me, I’d appreciate it. Actually, I have always lived on a fixed income (fixed by how much my employer has been willing to pay me) but it is more fixed now. As in zilch, nada, zero. Well, my wife still works and there is that wonderful unemployment compensation that should start coming in a few weeks, but for the time being, I am watching every penny. Social Security is an option but not for a while yet. I’d rather try to find employment if I can.
We have already told the kids and grandkids there won’t be any huge Christmas presents this year and we are going to draw names among the adult family members. I have cut $25 off my auto insurance and probably $60 from my phone bill (by switching to a service with outgoing local calls only; we have cell phones for long distance.) I have also started buying cheaper generic products at the grocery store, like Publix brands on nearly everything they sell.
Now that I don’t go to the office every day, there should be savings on gas and dry cleaning. I have also switched to the second-cheapest brand of beer. I am shopping around for health insurance but that is probably going to be the biggest new expense. Eating out will be a rare experience, I am sure, and my favorite past time, golf, will be drastically reduced as well. My wife and I have never been big movie goers, so that is not a problem.
Is there anything else I have forgotten? If any of you out there have some ideas, please share them as I ‘bethca’ there are others like us who could use the advice.
I need a little advice from my friends
posted
Nov 13, 2008 by Lamar Thames
Mike
11/14/2008
1:07 pm
#8
Hi, Lamar and Barb.
Maybe I do have an idea for you. Obviously, you have a broadband connection so you’ve just about got all you need to cut back even more on some phone expenses.
You mentioned you have a minimal land-line service and use your cell phones for long distance calls.
Consider using Vonage. I’ve been using their service for nearly six months and have absolutely NO complaints. Call waiting, call forwarding, 3-way calls, and more are all included. And yes, you will still have a 911 service. Calls to the US and Canada are all included at $24.99/mo. and if you make annual in lieu of monthly payments, you can reduce that by 10%. Get a throw-away cell phone w/ pay as you go minutes for emergencies and that should leave a few extra bucks in your pocket. Works for me.
Downside: Lose your electricity and you lose your phone so some sort of cell phone should still be included in the mix.
In closing, let me welcom you to Geezer World. It ain’t much fun but it beats the alternative!
Judith
11/15/2008
12:22 pm
#13
We use the “pay as you go” cell phones. You can load as many minutes online as you want (or at Wal-Mart) any time you want with no monthly fee. I use about $10 every three months as I have my cell phone for emergencies only. If we’re going on a long trip, I’ll put $25 on. We’ve cut our electric bill by not using the dryer as much and a toaster/convection oven works for baking a couple of chicken breasts instead of heating up the large oven. There are many ways to save a little here and there…you’ll catch on.
When I was working full time, I stopped at the grocery store almost every day. Now I limit my trips and try to stock up on sale items and Publix bogofs. That’s also a good way to donate to the food pantry – the bogof – as when you’re income is less, you donate less.
You can look at saving money as a “job”, as it takes effort and imagination. We grow some of our own veggies and make some great soups and salads.
Also Lamar, volunteering is excellent networking.
Kath
11/15/2008
3:25 pm
#14
Cut your dryer sheets in half, you won’t even notice the difference and you get 160 sheets out of a box of 80. Do not do a load of laundry unless you have a full load even if you really want to wear that shirt or pair of pants.
Don’t rinse your dishes before they go in the dish washer, use the napkins to wipe them off instead, saves running water down the drain.
Remember: “Save the pennies, and the dollars will follow”
winn1955
11/18/2008
9:03 am
#23
Lamar I have the word everyone likes, FREE cell phone including minutes. That right they give you the phone and 68 minutes per month at absolutely 0$$ and the best thing about it is it is easy to qualify for the program. I filled out a short application and I had my phone in two day’s. Ahh! You say there has to be a gimmick, nope I love the service. And last but not least if you don’t use all of your minutes they roll over for next month. I don’t use a phone too often; I have had it for two cycles and have 120 minutes already.
Follow the link and enjoy, https://www.safelinkwireless.com I believe it is a state sponsored program, not sure though. I love the service!!!