Living on a fixed income is no picnic, However, with some planning, saving, and controlled spending seniors living in Walnut Creek can enjoy their retirement and all the freedom that comes with it. Here are a few tips on budgeting:
Tip One: Determine Necessities
The first step to budgeting is to decide which items in your budget are absolutely essential. These are the bills you pay each month, the ones you absolutely HAVE to be able to afford. Examples include basic food necessities, a home, health insurance, utilities, etc. Ensure that these bills are budgeted for, always.
Tip Two: Prepare for Emergencies
Don’t get caught unprepared in case of an unexpected expense – such as a house repair or illness. Establish a small savings fund and keep contributing, even if it’s only a few dollars a week. Should the need occur you will be very glad you have it.
Tip Three: Keep Indulgences Under Control
You’re retired, your life is your own, and darn it you want to have some fun! Before you go crazy do everything you have always wanted to do, take a moment and reflect on what you can afford, and what you can’t. A few indulgences here and there, sure, but don’t go crazy.
Tip Four: Look for Alternatives
Want to make the most of
your financial situation? Find alternative ways to pay for things. Perhaps you have a valuable skill that you can trade for another service. For example, you could put your seamstress skills to use in exchange for help in your garden, or help a friend paint their home for some fresh baked goods. Use your imagination!
Tip Five: Find Deals & Discounts
The further you stretch your dollar, the more you can afford. Stake out the local stores in Walnut Creek that have senior’s days, and take advantage. If you play your cards right you can save 10-20% on just about everything.
Just remember – the more you save, the more you can have!