How Being Thrifty Can Help You Realize Your Retirement Dreams

Are you thinking about retirement in the near future?  Are you not sure you can attain the retirement lifestyle you want?  Being penny-wise and not dollar foolish may help you get there.  Saving money now can pay off in the future.

Here are some ways how being thrifty with your money can help you realize your retirement dreams.

1. Create a Home Budget

This is step one to living the frugal lifestyle.  A budget gives you a clear picture of just what you have coming in and where you can cut back.  It shows you real numbers that you can work with.  It’s a good place to start.

When you look at your budget, hopefully you will see a few key things.  For one, you can see how much of your income goes toward paying down debt.  You can also see how much of it goes toward optional activities and items, such as entertainment or lots of “extras” on your telephone bill.  See where you can cut expenses while still paying down debt, and then put the amount you cut into savings.

2. Don’t Be Afraid of All Those Senior Discounts

Some seniors have too much pride and are timid about asking for a senior discount – it’s like admitting you’re “old.”  Instead, think of it as something you’ve earned!  Senior discounts are service that society offers its older members as a courtesy.  Take advantage of them!  They offer yet another way to have more money in your wallet at the end of the day (that you can then put toward your retirement).  Here are some places to look for senior discounts:

* Your local grocery store might have a special day or time of day when seniors can shop for groceries at a discounted rate.

* Entertainment options are often discounted for seniors, such as movies and museum exhibits.

* Community activities like fairs and festivals often give seniors a lower admission price.

* Restaurants are definitely a place to look for senior discounts.

3. Look Into Public Services

Take advantage of public services like prescription drug delivery, public transit, and other senior-friendly offers.  Again, this frees up more money to put toward your retirement (because you do know how much money you’re saving as you do have a budget, right?).

4. Family Meals

It can be quite amazing how fast little expenditures on food can add up.  A coffee a day can easily run you $15 or more a week, and going out to eat is inevitably more expensive than eating at home (even if you eat “cheap” fast food and/or use your senior discount!). Think about cooking at home, watching a TV movie together more often and setting that money aside in your retirement account.

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