Cheap Living in Retirement
A Guide to Living Frugally

Think cheap living in retirement has to do with depriving yourself of a fulfilling life? On the contrary. Living frugally is about retiring smart and taking a good look at your spending habits. Its easier than you think.

Start by figuring out where your money is going. Ask yourself what your needs are versus what your wants are.

• Rent/Mortgage
• Groceries
• Utility Bills (electricity, water)
• Gasoline
• Medical Insurance

Everything else is A Want.
Make a list of ALL your daily expenses for two weeks--Including the candy bar after lunch. After two weeks look back at the list. This will give you a good idea of your spending habits.

If it doesn’t fall under Basic Needs then it’s... "A Want".

Wants are okay as long as they are controlled. It’s when your "wants" start getting you into debt that you run into trouble.

Use these easy tips for a frugal retirement and put more money in your pocket. Frugal living is not synonymous with substandard living. It is about learning techniques so you can put the extra money to better use.

Remember, you’re trying to live cheaply so you can enjoy your retirement years. Stick to a plan and retiring early can become a reality.

Create a Monthly Budget

Give yourself a number that pays your monthly bills...With a little left over for your wants. The bulk of your spending must go towards your basic needs. This is an essential strategy for cheap living and retiring secure.

What do your basic needs amount to each month?

Monthly Spending Budget
$1000? $2000? $3000? Whatever it is, add $150-$200 to the amount. There’s your monthly spending budget. Which means you have upto $200 to spend on whatever you want after you’ve paid off your monthly bills.

If you want something really bad it has to be within that $200 range. Don’t have enough money? Then wait till the next month. Whatever you didn’t spend of your $200 gets added on to the following month. By then you’ll probably realize it was an impulse item.

The rest of the money goes into savings. Soon you will discover how much you can actually save towards your retirement nest egg. Make this a habit and saving money will become second nature.

This technique will teach you to cut your spending. Stay away from reckless spending and managing your lifestyle in retirement becomes a snap.

It will seem tough at the beginning. Most lifestyle changes are. But wise spending habits get you out of debt and
keep you out of debt.

There are loads of retirement ideas to living frugally and discovering retirement paradise. Including cutting down on your grocery bills by planting an edible garden.

Don't have an IRA or 401K? Find out how you can still take control of your retirement. Use these easy-to-follow retirement planning tips to retire secure.

Cheap Living is about smart choices. Learn the basics and you'll be on the road to a fulfilling retirement paradise.

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