Retirement and living on a fixed income has been an adjustment for me, for sure. Budgeting, tracking spending. Making small changes such as brewing my own coffee, bringing a homemade lunch when going out for the day. Sell clothes I don't need to a consignment store. As someone who used to love clothes shopping, I now only replace clothes as they wear out. Buy used rather than new clothes - I buy mostly from local thrift stores. Changed my diet - we eat very little meat, more vegetables, beans, tofu etc. Shop around for cheapest food. Above all, don't compare yourself to others - you don't really know their situation.
You genuinely want to help margret.i am lucky but I appreciate what you are doing. Love your videos so sincere you sound like you have walked the walk...good on you. Dorothy from scotland
I am in my 70s and doing intermittent fasting (for weight loss and health reasons). But it has helped me realize that getting healthier and ridding my diet of prepackaged and snack foods makes for a tremendous financial savings. My food costs are about half of what they were previously! I still buy a ready made treat occasionally but it's much healthier to make my own at home. My point is that it doesn't have to be deprivation. I've lost 27 lbs in 4 months and am halfway to my weight loss goal, am healthier and am saving a lot of money at the same time! When we educate ourselves about the food industry's "sins" and begin reading content labels, we might find ways to feel stronger, more alert and energetic, and save money! Win-win!❤😊👍
The greedy gov.taxr everyone to death, then spend buying wars& 7:21 death.bring in mass immigration, to cause housing shortages,and crooked ,greedy hose flipping schemes where a group will flip a house and increase its estimated value 4 times what it's worth, gov.inflation while everyone else suffers in wrecked lives.,and drug dealers.helo them cope.
I bought a bread machine for 12.99 at a thrift store and have been using it for years...I don't buy bread or buns..I have even used it to make my own cheese bagels..I use the dough cycle then put the dough in a reg. Bread pan and bake in my oven... I also bought a electric knife cheap second hand to slice it and a wooden bread 🍞 slicer guide...it is better than store bought and no chemicals or preservatives...tons of receipes on pinterest
Very good video and I am one of those seniors. I was living independently on my own and I incurred over $12,000 in dental services which really put me in a bind. As much as I didn’t want to I had to ask my son for help. He allowed me to move out of my apartment and move into his house so I can pay down my debt and also save some money. Thank god for him. So I do understand the struggle.😣
For years I have been using Castile liquid and bar soap, coconut oil, baking soda, vinegar, and other natural ingredients for healing, cleaning. Liquid Castile soap can be used as shampoo, body wash, dish wash liquid, hand wash lingerie and clothes. I make my laundry detergent…a 5 gallon container costs less than $5.00 and will last me about one year. I do three loads of laundry a week. I mix coconut oil and baking soda to use for underarm deodorant, coconut oil is only face and body moisturizer I’ve used in about 25 years. I only eat out once a week or less. Socializing with others is awesome for the mental health so I budget for it at least 4 times a month. As you mentioned, a budget is necessary… I started that habit in 1985. I live alone on less than $1700.00 a month in the best housing I’ve ever had in my 70 years of living. Thanks for sharing this much needed information for many retired ladies. Hugs from Arkansas USA 🇺🇸
Thx for all the excellent info. This is stuff we can use daily for rest of our lives. Uv helped alot of people. Sounds like ur happy, & in a good place.🌅 Physically & mentally!
I cook most of my meals, and probably eat out 2-4 times per month. Started stocking my pantry for the past 2 years, and that’s been a blessing with rising grocery costs. Our senior center participates in no spend months where you’re only paying rent/mortgage, utilities and gas - no eating out for those months. While it was difficult at first when you have a stocked food supply it becomes easier. Seniors choose which months to participate, and the average is 3-4 times per year. Those months without weekly grocery shopping help pay for yearly car insurance, and other expenses that are not monthly. Most of my friends are either a widow like myself or divorced, and we take small budget trips. Generally stay at an air bnb and split the cost by number of travelers, cook most of our meals, and have one nice dinner. If one friend is short on the travel budget we all pitch in to make up for the difference. Our community has lots of beautiful parks and free events that we take advantage of, and on park days we each bring food for lunch. Twice a month we have movie nights and alternate homes. While we don’t have everything we want, we certainly have what we need and feel blessed 😇 Here in the U.S. it’s challenging to live on social security with inflation, but as a group working together we manage to have a good life.
My daughter and son-in-law invited us to live with them. They have a large home and two active teens who I love to be with. We pay them so much a month to help with utilities.
It grieves me that we, who worked and contributed throughout the years when most of our personal and financial resources were expended on others, should be doing without so much. Nothing fancy, just treats like coffee, a comfortably warm home...something is very wrong here.
Exactly! I always take a hot drink, fruit and a sandwich with me, never spend money on coffee at Woods or Starbucks. I have only been to Starbucks once or twice in my entire life, when my daughter received a gift card for Christmas, and said I deserved it a treat. It seemed like another world to me, watching all the yuppies enjoying their very expensive fancy drinks and pastries. And, my little grand-daughter announcing that her favourite food is sushi. It never graced my lips until I reached the age of 74, she was 4 at the time! And, and enjoyed a mid-winter break to Hawaii. Sometimes, rarely, I would love to splurge on a bouquet of fresh flowers for the house, or even a once in a lifetime massage. Both are out of the question. For some reason, a Day Out, would be complete if followed by a modest meal at a restaurant. Instead, I always take a picnic, that usually includes a treat, I know my daughter and wee one would find special. Even now, I cannot bring myself to turn up the heat, instead I always wear extra layers of clothes, and use a throw. An, electric one is a real luxury! Not really hardships, just budget limitations. Sometimes, having to struggle can put a dent in one's self-confidence no matter how skilled we become at navigating life's challenges. I make it a point to remember there are always those who are not as fortunate.
I did the math and realized that it was more cost effective for me to downsize and rent. The cost of owning my home, with taxes, insurance, HOA, repairs etc., far outweighed what I now pay for rent. I also have the flexibility to move to a cheaper location if needed.
Rents keep going up. Maybe you can rent a room or two. We helped my 88-year old mom find a roommate. She was just on social security and could not live on it. Sadly she did not prepare for the future.
@@californiaglo9666 Sometimes, some of us do not or did not have the option to prepare for the future. Also, none of us know what will ever happen during our aging years.
@@californiaglo9666 I checked my Social Security 'projected' income and at todays prices I would be able to live on it... but the problem is that we all think that and don't think about inflation. If I was getting 3500 TODAY, yes I could live on it. but in 10 years that will probably not be enough to live on. Most people don't look at inflation and factor that in. So that might be part of your mothers thinking when she didn't 'prepare' or maybe she had life events that prevented saving. Or like most single females, nobody really taught them the facts about retirement or budgeting. I am glad you were there to help her.
Just a comment about the fiduciary financial advisor, my parents paid a fee of $500 annually because they were over 82 years old and their assets couldn’t require a lot of maneuvering. When I was 63 I hired the same advisor and 2 years later I am still paying the original annual fee of $750. They’ve put in a considerably greater amount of work for me, as I now am transitioning into retirement. They have been worth the fee. I’m not wealthy, but say financial advisors are not only for the wealthy. I worked for nonprofits most of my career.
I have just started this journey after losing my husband of 37 years who worked up till 3 months before he died. I am on a fixed social security income but a Big Thing is we have been frugal most of our life's so maybe not as much of a challenge as some. My home is paid off, my 5 year old car is paid off. I live in a small house 672 sq feet and am mindful of my utility use. I do have a budget set up a certain amount is allotted for groceries, another for my savings account and another from money left over from his life insurance policy. I took some of that money and prepaid for my burial expenses so I don't have to pay for a life insurance policy it's done down to the very last detail. Things I do is buy dry beans and "Can" them up, it's much cheaper to Can your own versus buying in the store but even buying cans of beans will still save you money versus eating out and healthier. Tonight was Tostada Corn Shells with lettuce, a container of chili I made and froze the extra's with shredded cheese ( I shred from a bar of cheese versus buying it premade). I used tomatoes I grew and canned last summer over the top with sour cream. Learning to Cook in Batches and freezing or canning the leftovers is a savings. I drink a lot of lemon water if you don't like that you could add sugar and make it lemonade. I use my library a lot for books and DVD's. Socialization.. I go once a week to my sister's house and we have lunch at her house and watch a rented or sometimes free movie together ( her adult children still live at home and have streaming, netflix, etc which is on their main tv. Lunch is alot of times left overs her husband Batch Cooks. I have 2 friends my age that live in my neighborhood we go out to lunch together a couple times a month and pick on the menu at a country restaurant the same thing most of the time $11.00 for a meal and then of course we always tip our waitress for about $20.00 for me with the tip. In the spring/summer/fall we usually hang out on one of their porches and just have coffee together and catch up on what all the kids are up to. For us, simple things are enjoyable. We sometimes go to antique or vintage stores or thrift store hunts. They both have grandchildren or great grandchildren so we also have a lot of birthday parties together for the kids which is always a good time as we catch up with our bigger Circle and enjoy the kids. Staying socially active is important for our health and spirit. I also have 5 dogs and use a Senior organization that helps me with low cost yearly shots and nail trims. I put in my savings budget money for doctor wellness check up's yearly, their flea prevention and heartworm prevention meds. That is one important thing: We all have yearly expenses Property Taxes, Accountant Fee's, Insurance for home and auto, health insurance ( mine is monthly not Medicare yet), Water bills that come out every 3 months, AAA insurance.. I take that total and divide it out by 12 and that is what I keep in a seperate account and keep adding to it so I am not scrambling trying to come up with a expense I forgot about. I know this is long and your eyes are probably glazed over but it is working for me. And I try to not waste food I still cook like I would have when my husband was alive but freeze in single portions so when I am hungry and don't feel like cooking I just grab a meal out of the deep freezer. I watch a lot of you tubes on meals on a budget to keep inspired. Anna In Ohio
Hi Anna. Thank you so much for sharing all the details that you’re using to Cat . First of all I’m sorry for your loss. It must be very hard but you’re doing all the right things and I’m absolutely so impressed with the detail that you’ve gone into. Thank you so much for sharing. I am sure that there are many women who are reading every word and learning from you. Take care of yourself. Have a really lovely weekend.
@@sixtyandme Thank you and I hope they did we are all in this together and even one change in our budgeting lifestyle can make a difference. Anna In Ohio
Anna first so sorry for your loss and just in case you don’t know, you may be able to increase your SS amount based on your husband’s income if he made more in his life time than you( it doesn’t matter if he left you money or not, SS is separate from any other money resources you have)If you haven’t already done so you should go to the social security office and look into it. SS office is not known to offer information if you don’t know and ask they won’t say anything
I started “small” by getting rid of Cable TV, did away with my newspaper subscription as well as the house phone/only cell now … as my magazine subscriptions ran out, I didn’t renew them … love using our Public Library … I do want to keep my Internet; it provides me with news and a connection with the world etc…I eat out very little; save that for a very special occasion or maybe a special treat. I enjoy so many “free” forms of entertainment that our community provides … it’s a total change of your mindset and how you view things; start “small” a little at a time and make progress from there … I have more ways that I can save money and make more progress; it just takes changing that mindset. Love reading all of your comments; so very helpful! Thank you for your great videos, Margaret!
Hi Jeanne. You’ve described beautifully the shipped in mindset that is needed and I really appreciate you sharing. I love the library too. I go there all the time just to absorb the energy of people who love books and learning sometimes I just enjoy reading magazines with a cup of coffee and watching people :-) have a wonderful weekend
Hi there, can I start by saying what a lovely human being you are and I want to thank you for your caring attitude and sincerity. I live in the UK with my lovely dog Poppy. I am 71years of age and have been retired from the NHS for just over 10 years and I have a small works pension plus an even smaller state pension and I have a mortgage which will end when I reach 80 years of age. Thank goodness I have always been frugal and although I like nice things I am in no way materialistic. I have done what you suggested jotting down money coming in and money going out and thank goodness the outgoings are a little less than my income and I endeavour to save as much of this as I can for unexpected emergencies or little treats now and then. I review this budget regularly as sometimes I think I no longer wish to subscribe to whatever it may, magazines, newspapers etc. I only have myself to cook for so I always cook more than I need and pop what is left from my meal in the freezer so I always have a meal to fall back on if money is a little bit tight one month. I don’t go into town very much because I don’t want to be tempted into buying things I cannot afford. Once a month I do a food and household shop online which stops me being tempted by offers in the supermarket. I haven’t had a holiday for several years now and would very much like to go somewhere different and interesting but I have to accept that this is not possible at the moment because I cannot afford it, acceptance is a good word don’t you think? I try to remember to count my blessings, I live in a nice little village and my health is an issue but I am so lucky we have access to free treatment and medicines on the NHS, how long this will continue who knows. I look forward to your videos and emails, thank you so much for them. Kind regards Jane
Great post Jane! We are fortunate to have the NHS, despite its more recent shortcomings due to the issues of which you and I are aware! Could I mention here that not all of US are in USA. Lol. MAny European countries have public health services.
Have you looked into home exchange for holidays/vacation? You could switch homes. I believe there is a website. My friend did it and had a good experience.😊
Hello Jane. Thank you so much for this beautiful comment and all the wonderful ideas you suggested. I am just so amazed and impressed by the number of comments people have left to this article. It is truly something that’s on our minds and you’ve done an amazing job of sharing your own story. Thank you so so much.
In Illinois we were paying $4000 per year in property tax. We decided when we retired to move to a state with low property tax. So, we moved to Alabama. We save $3,600 per year just in property tax. Money that would go out and we could never recoup. It was scary moving away from family and friends, but we did the right thing. No severe winter weather to deal with. We take day trips to explore the deep south and enjoy doing that. We would not have been able to afford that freedom if we would have stayed in Illinois. No regrets! We did the right thing.
Agree 100%. I relocated from Florida after 6 decades. Costs in Florida are rising daily between higher property tax, and much higher insurance cost for not only home but vehicle insurance. I relocated to the mountains of North GA. Not only is it supremely beautiful but the cost of living is so much less. Seniors especially, get breaks on property taxes and state taxes.
@@buffycat4641 My sister moved to GA and I may follow soon. Florida is my home state and I am so sick of the cost of insurance. Sick to my stomach that I have to give it up. But that is what I will be doing soon. I am not retired yet, but very close.
But u spend a ton on air conditioning. I'm in Michigan and no way am I moving back to the south. I retired in 2019 but ended up going back to work, but now I get to pick and choose. Wonderful 😅😅😅
LOL...from Chicago and also decided to move to Alabama. Bought a home and with exemption, I have zero taxes on my property. What a savings!!! I love it here, yes the A/C is high but Chicago Heating bill was also high. No regrets!
@@buffycat4641 Wow! I didn't know seniors get a tax break in GA! I'm definitely interested in that. My state of Michigan is too expensive to continue living here as a senior.
Single since 1999.....long standing back issues...now 68 and making it on SS and some marriage reward retirement....just enough to not qualify for additional assistance.....tried the expat living but landed back in my home state a few years ago....living month to month but a huge key for me is being happy...finding the peace in the midst of it all...and I make my budget fun, like a game to met my needs...in other words, except the challenges with grace...and lastly downsizing with all aspects of life is a beautiful thang. Thanks to all who shared their stories...what a time we live in...:)
Single for a long time too and the mother of one young adult daughter. Helping her pay for college. Planning, if all goes well, to retire soon. It will be a challenge...but I'm inspired by how you shared about making it fun. Yes, what a time we live in, indeed.
@@CynthiaAva , at 68 and having reflected on my life...I spent so much time anxious/worrying about the future...I now choose to look for ways to enjoy the journey...blessings to you and your daughter, you both are almost ready for another chapter of life. 😘
I’m a retired, RN and I’m fortunate enough to have a pension as well as my Social Security benefits. I became virtually debt-free at the end of 2021 and continue to keep debt to a minimum.
After my divorce in 2019, I had to start over at 63. I started collecting social security payments early at 64, but have to work part time to pay bills, probably forever. In usa, you cannot earn more than $21K or they hold social security payments back until you turn 70! I get $1200 a month, but my rent is $1000 and I have electricity bill, car payments, insurance, internet and a phone bill each month. This is not including food and gas (petrol) for my living. I never planned for this and Im pretty scared. I used 4 credit cards to their maximum and now am paying them off. I lived for the day as a younger person,with a husbands 2nd income, I had no worries. Now at 66, Im alone and paycheck to paycheck. You hit it on the head. Id love to retire, but that is not possible right now. Its something I am sure others are going thru also.Thanks Margaret for addressing this. I buy clothes from thrift shops, make my own coffee, prepare meals and freeze portions for later use, dont eat a lot of meat, and most importantly... stay positive.
Kathy, I relate to you on all your issues. I was divorced, too, at age 62 ( he deliberately waited so he wouldn’t have to pay me extra), and I lost my home and garden, and neighborhood, etc. I moved to Michigan to be closer to my son and his family, but it is Soooooo expensive here!!!! I was then scammed out of the savings I had from the sake of my home, and now credit card debt is strangling me. Then got my taxes done today, what a joke!!! The state steals money from us single older women. I was working parttime but store went bankrupt….unable to find another but still trying. I pray for you and all women like us!!!! God has a plan 🙏. Hugs from me 💕
Wow Dee, you have had challenges! I have friends and a brother and sister who will help if I really need it. Im content in that I have a place to live, food in the fridge, car to drive and my youtube hobby. My job is satisfying. Im not rich, but Im not miserable. Your challenges seem huge. Im glad you are near family. You will be fine. Things always work out. Times like these bring out the strength we women truly have. @@deezahm9143
the law states that if you cannot pay those credit card bills, they cannot come after your Social Security, and each state has a rule as well. In Texas they cannot sue you at ALL if you are on SS. In some states there is a generous limit of money you have over and beyond SS that they cannot touch. If you get to the point you cannot pay those debts, PLEASE look into this.
In my neighborhood we have a "Buy Nothing" group online where members post items they have to give free to other members of the group. It can be furniture, food, clothing, plants, etc. Members can also ask if anyone has something they need. Our town also has several free food boxes (similar to little free libraries) where unneeded canned goods, new toiletries, etc. can be accessed by anyone.
I'm caring for my 95 year old dad with alzheimers. I live on social security. My dad's care is expensive and his assets are running out. It's very scary. I'm definitely financial insecure. Thanks for this video.
You may have already done this but someone below posted this “Contact your county’s Aging and Disability Resource Center (ADRC) for expert tax funded support for negotiating the resources available in your state”. We did this with my mother in law and found it very helpful. They may have help for your father.
Wonderful advice! It can be scary at this point in our lives. Hubby and I are now both retired, so our fixed income is a significant cut. We are in the throes of a progressive downsizing, and it’s becoming easier with every load we haul to a resale or donation shop,…or simply gift to others. We’ve learned we actually require very little, and we’re tired of “things” requiring our time. We are getting our home ready to sell, and have chosen to rent (under contract) from a family member for a while. It’s a win-win! (ALWAYS have a lease/rent contract for your own protection.) Fortunately, our new location will be closer to three of our four adult children. It’s also close to a major international airport and world-class medical facilities. Hubby is a cancer survivor, and neither of us are getting any younger. We will be in a city instead of a smaller town, but we believe it will offer more of what is required for us. Margaret, we may be choosing to rent from now on, as maintenance, taxes, and homeowner’s/flood/windstorm insurances are ridiculous in our current area. Renters insurance that covers our contents is going to seem a bargain in comparison, and we want to be able to travel some, not spend most of our time and resources maintaining a structure and caring for “stuff.” A studio sounds lovely! It might not be for everyone, but I could see it working for us at some point. Well done, you! We have chosen to both go ahead and receive SSA, and yes we took a cut, but we paid off both vehicles, and are able to pay off credit cards every month. We also have two major credit cards we use to pay for everything, and then pay them off at the end of each month to avoid late fees or any interest. I do know how fortunate we are to be able to do so! We also do this to accrue points for hotel rooms and air travel. I give Hubby his (long) hair trims, and I still wear an easy (inexpensive) pixie cut. We do most of our own manicures and pedicures, but do treat ourselves periodically if we are able to afford a bit of extra. We do not dine out frequently, and could not afford to do so anyway. We do not gamble, and that isn’t our form of entertainment anyway. We do not subscribe to a cable television service, but do have unlimited Wi-Fi and a low-cost movie service for around $16. per month. We have plenty of viewing options! We are also planning to downsize to just one vehicle. These are just some things we do, and most we have been doing for some time now. I do enjoy painting from travel photos, and Hubby would enjoy more golf, but during this transition, it just isn’t realistic for either, and we do have to watch our timelines/deadlines and finances. We certainly stay busy, and look forward to our new location and adventures, but know there will always be adjustments to be made. We also know how fortunate we are to still have each other. Thank you for continuing to choose subjects that are sometimes hard, but keep us grounded. You are appreciated!
I write out a budget for every month, then put alittle in savings for a rainy day. I only buy what I need and not what I want, but I will treat myself 🎉once in awhile. Just do not spend more then what you make. Write out what you cannot do without , like housing, food , etc.🎉🎉🎉
Even so, life can be a struggle, that can be a tad depressing at times. I am a big fan of having an occasional treat, but those are few and far between. Just came in from the garage, and am so happy to have been a Prepper for so long. Even when 'stretching pennies' I can always make a nutritious meal by shopping what I have already stashed, and sometimes I even come across surprises....lol....ones I have purposely hidden from myself!
Such an important topic, Margaret.! Living frugally, is the only way to go. Personally, I adopted a frugal lifestyle many moons ago as a child living in England. Both my parents survived and thrived during two World Wars, and what they didn't know about 'stretching pennies' is nobody's business. I am so thankful I have prepped for self, pets and adult family. If I had not, there is no way, I would be able to manage now days. There is also some kind of unexpected expense that rears its ugly head, and makes one scramble to juggle and rejuggle one's budget. Yesterday, I went to the Dental School in Seattle. Worth the cost of driving and parking. All day parking cost $19.50. My appointment lasted the entire day, from 9.30 am to 5pm. Takes a lot longer to have treatment done by a student and Attending Dentist, but my savings will be 30-40% over a private dental office where I live. Even to do this, I use a Care Credit card, so that I can pay for treatment without having to pay interest. Even so, a gold bridge will be over $2000.00. I pay for quality, because it lasts a lifetime and is worth it. Sometimes, I think about moving, but, even that is not feasible, because I cannot afford to, and family is already a three hour drive away, as it is. Possibly, I could save for an RV large enough to live and travel in, but that would be down the road from now. Excuse the pun! Having pets, brings great joy, and I am unwilling to give them up, as all were rescues. Sometimes, the idea of having a room-mate comes with its own problems, if the person is not compatible, does not share a similar lifestyle, and is not careful in their use of utilities or care of property. I am working on sorting my treasures, and selling my stash of books and other items. I plan to grow fruits and veggies in the garden, and make a DIY hydroponic set up to grow tomatoes. I also bought grow lights, so it could also be used in the garage. I pick wild blackberries during the season. So, other than very few things such as car expenses, for my elderly Toyota, vet bills, and a rare Beauty School hair- do, everything comes either from discount grocery stores and Thrift Stores, or Yard Sales. I live like a queen, but doing so is becoming more and more difficult, no matter how creative one is. I live simply and make use of free community entertainment, go on picnics and ferry rides. I take care of possessions and never waste anything. And, have soap making items, for personal use and make for gifts. I buy material and notions at thrift stores to sew dresses and other items for my grand-daughter, and a little girl my daughter and I sponsor. A form of tithing, that some consider a brings abundance. Instead of taking vacations, I have a vintage RV, to use for occasional overnight local trips and visiting family, and hopefully one day, National and State Parks. It is very economical, 4 cylinder Toyota, small and compact so gets 16miles to the gallon, insurance is less than $300.00 for the entire year. Local Museum offers exhibitions, events and various talks/classes. I also volunteer at a Humane Society Thrift Store occasionally. And, I often meet new people at one of many beautiful parks our town is blessed with. Being vegetarian. Plain and simple is how I live, thankfully, all Medical expenses are taken care of by insurance and/or plans of various hospitals which write off the difference if one's income is limited. Such help requires applying for on a regular three or six month basis. In a rather large nutshell, Margaret, that is how I manage. And, I watch a couple of wonderful UA-camrs, like yourself, who inspire me, and add peace to my life.
Wow. I read your story. Very detailed and love that you shared with us. You’re doing so many beautiful things and creating a life that is magical and thank you for sharing so much. Take care of yourself you deserve it.
@@suzettecooper382 So kind of you to say so, my life seems very ordinary really. Like everyone else, I do my best to make the most of what I have, and to be grateful for it.
@sjordan7085 I loved your tips and how you live a good life! I am in the Browns Point area(NE Tacoma area) I turn 59 next July. I too love to garden and thrift. I am still employed full time and work remote which is lovely. Thank you for sharing your story! Best, Tonya
This topic resonates with me. I am retired after working all my life but after a vicious divorce I am without assets. So I started over and live in a tiny home. This lifestyle is not what I have had and worked for but its my reality. I do have a fixed income and shop frugally. I don't know any other solution. I don't buy luxury anything, and no nice vacations. I won't be taking a cruise or anything similar. I am trying to be content and at peace. I don't compare myself to other people, avoid the news and most social media. Life in America is very difficult for those of us without financial assets. Its the bottom line here. Unfortunately.
It's the same in the UK, but at least we have the NHS, which is healthcare free at point of delivery for everyone. It's not free because we've all paid National Insurance contributions throughout our working lives and been credited if we've claimed welfare benefits or child benefit, but it's a huge relief to have the NHS. The government is constantly trying to run it down and get rid of it though. I think the key to living on a low fixed income is to change our view of what a 'luxury' is. It's anything that isn't an essential, but that we get great pleasure from. It's a privilege to have grown older, and a privilege to be able to afford not to work, so if that means slowly drinking a lovely herbal tea each day while sitting and relaxing is a luxury, then it is.
@@amandahunter4034 In the US we have Medicare which we paid into all our working years, and must pay a monthly amount to maintain. On top of that it only pays a portion of our expenses with a deductible. So, one must have a supplement and they vary in cost or an Advantage Plan that requires you to stay in a group. Hope your UK plan continues to serve the people.
You ''hit the nail on the head' . Trying to be content with one's life is a big one! I make it a point to aske myself, what one thing would make me happy today? It is a part of self-care to keep me on the right track. And, not comparing oneself to others is huge. I have discovered that friendships with those who do not share frugal lifestyles are not sustainable, especially when one cannot affort to eat out frequently, or enjoy more luxurious pleasures. Instead, I am very down to earth, not earthy, but practical and live according to my values, something I have found to be very helpful. To be honest, without having been a mindful Prepper, for most of my life, I don't know how I would cope right now. Prices have risen so drastically.
I'm not being captious. The fixed income thing always puzzles me. My income from employment was fixed - I earned the same amount each month. I paid very close attention to my outgoings and chose to live well within my means so I could max out my retirement funds. Frugality is a habit. I was never a high earner.
Same here, frugal all my life and continue to be frugal and save now that I am retired. Each time I get an increase to my SS, I put it away and pretend like the increase never happened. Then, I have money if a surprise expense pops up or I want to take a frugal vacation. Did the same when I was working. Every raise went into a fund.
Frugality is a wonderful habit, as is the i dea of having hobbies that are productive and help one stay mindful. Gardening comes to mind, as does sewing, wood working and the like. Learning any skill that saves money is useful. I bought the equipment necessary for grooming my little dog. Even the cheapest groomer in town charges $60.00, still more than $50.00 if I go on Senior Day! So, I can watch UA-cam and learn how to do it myself for a lot less. And, I found pet shampoo at the thrift store for $2.00 a bottle, and bought several.
I am 67 on disability with PTSD, able to work 20-25 hrs a week, homeless. No safe affordable housing for JUST women, no drug/alcohol problems, had careers.....still have much to give, with no safe affordable housing to live. If you don't have family willing or able to help, you're screwed.
That's when you need to pair up with a trusted other person or friend. Like a roommate. Or someone in your same circumstances. Never say never and Never give up.
I feel so grateful to have a cosy roof over my head! Your life struggles must be very difficult if not unbearable. Where I live, the Opportunity Council matches people with Seniors who have housing, but could use a little help, usually with simple things such as shopping, or just having another in the house for companionship, or, so that they can feel comfortable/safe living alone. It helps both the person in need of housing, as well as the homeowner living alone willing to share, often rent free. Obviously, being compatible with eachother would be a big part of the equasion, but could prove mutually benefitial. That said, living in close quarters to another may not be everyone's 'cup of tea.' I have also seen similar situations advertised on the notice board of my local Senior Activity Center, ads for those looking for housing, as well as people offering to share.
Every roommate scam I've accepted has involved their theft and/or abuse. Nobody knows or trusts me. I used to be trusted by all. I'm still that person, but strangers see me as too nice
It can be hard. I now find myself traveling going to 3 different supermarket's to buy groceries. I never thought I'd be pitching pennies at certain times. Deciding whether to sell the house and maybe go into a co-op/condo. So much to think about and it's tiring mentally. I must say I will have to rewatch this as I came in towards the end. Thank you Margaret for all you speak on.
I have pension with tiny annual adjustment. I am now curbing my non essential spending (no clothes shoes bags). I shop at a bargain grocery buying items about to expire. I cook with what I bought so nothing goes bad or wasted. I don’t eat out. I combine trips to get things done in one loop. I don’t turn on AC or heater. Cities usually have programs for seniors like food bank, classes, and small help. Everything is on the city website so do check it out. I save cash monthly for future expenses. It is a must no matter how little you can squeeze. I found that by writing down every cent I spend every time I spend it, I am much more disciplined in not buying things I don’t need like expensive skin and hair care, prepackaged food, and too much hobby things. It was scary to watch the amount pile up towards the end of month.
Hello Margaret from las vagas nevada,I don't usually write a comment but ,love ,love your channel and all the wonderful ladies that contribute to the dialog, I move from NY because it was outrageously expensive, but I find vagas has become the same. I was very lucky to buy my " vacation home" in 2011, my mortgage is literally half what my rent was in NY so I moved and now this is my forever home I hope,having said that the house is much to be and the upkeep is difficult, but I was never married or had children I have lived alone since I was 22 and am now 68 I can't see myslef with roommates, so I will have to do the best I can thank God I have a pension and SS.
Thank you so much for your comment and for your lovely kind words. I’m so glad that our content has been helpful to you. Please take care of yourself and have a fabulous life.
People have to understand rhat youre NOT GETTING MORE if you postpone social security. Youre just DEFERRING it unto later. Collect as soon as they can before they take that away, too!!!!
I agree. I started at 64. I will make a little less per month starting at age 70, but add up all those months of payments from 64 to 69 and it works out better, and while I need it!
I waited until 69.5 and I have zero regrets. I am thrilled with my big checks. That 24% adds up! I didn’t need the money so I waited. I have no health issues and both parents lived well into their 90’s!
Thank you so much for sharing all those wonderful ideas. I am so happy and impressed people have watched the video and see the value in sharing with others. I’m so proud of this community.
My girlfriend waited until she retired just before turning 67. She purchased her dream retirement home and had many plans. A year later she was diagnosed with pancreatic cancer and passed away 8 months later. Don't wait to enjoy your life, you never know when it will end.
Thank you for this video Margaret. Uplifting as ever and I’m so thankful that you care and want to help us all with the costs of living and anxieties that this brings us all today. I keep trying to find ways to cut back but it does get harder and coming up with more cut backs is ever more difficult. I am in the Uk and like another lady posting today, I have two little dogs, both ageing now and this means medicines which are very costly here too. I’d not be without the company of my lovely little dogs and feel sad that I’ll lie,ly not be able to have other animal companions due to the costs of caring for them which is an important commitment for them to have good quality of life. Wishing everyone here the very best with the struggles we all face. 💕
Hi Paula. Thank you so much for sharing your story with us. It’s very sweet of you to care about other people. You have a very beautiful heart. I hope that you’re doing OK. Take good care and have a really good weekend.
Hi Margaret. I’m in the UK. It’s easy and free to have a senior bus pass. Free travel after 9.30 am weekdays and no limit weekends and bank holidays. Senior railcard, you can get this at 60, gives you 30% off rail travel around £30 a year. Check for discounts for seniors at various shops. Free prescriptions and eye tests at 60. Your local library and ‘warm hubs’ have free activities as well. Your local council may have events too. My local sea side town has lots of free events in the summer. Thank you for this video today.
Yes Brenda. The senior smart-pass allows Travel by bus. Here in Ireland It also covers rail Travel. And as you say, there are so many activities and associations for older people.
We have free Senior Bus Passes in the US too, for those over 70, where I live, and pro-rated for those over 60. I have one, but tend not to use it, I take it with me when I ride my electric bike, incase I want a ride home for some reason, they attach bikes to the front of buses. I have one that folds and can go inside the bus. It is a fun way to exercise and get fresh air. I love to use the State Ferries, which offer discounts for Seniors. The trains do too, but are generally still too expensive for me. We also have buses that will pick up elderly and/or disabled folk from their homes, for appointments etc. if they order the day before. I believe the charge is $5.00, not sure if that is one way or round trip.
Your suggestions are smart and truly helpful. Never dawned on me this crucial topic had a voice on YT. My best decisions: got rid of my car, eat at home 99% of the time. Screw fashion; just be cool.
I do plan on waiting for social security till I’m 70 in order to maximize funds. I guess I never really thought about saving on things I make but I do. I make my own household cleaners using alcohol, vinegar and essential oils oh and baking soda. I make my own mix of face cream and I bake my own bread. All these things I love to do and make me happy so I am saving in that way. Though I only just turned 57, I am a new member to a senior center that provides free lunches and many activities to be part of like painting, ceramics and games to play with others…the human connection is important. San Francisco does support seniors and the low income community so I am fortunate. So ask questions and find these things, they’re out there, I promise. 🙏🏽🙋🏻♀️👍🏽☺️Mia
I sense your care and empathy for those of us who are on a fixed income. I have tried and done everything available and am continuing to be open with any way that I can live more comfortably without having to be too concerned about unplanned events. Today it truly is difficult the last couple of years. I always heard about scams on senior citizens and didn’t consider myself to have to be concerned about that. In the last year I have been scammed by two major corporations that I trusted so now I’m hardly going to do anything unless there’s no doubt about anything. I work hard at getting the best prices, but the big corporations and government just don’t allow for any getting ahead. It’s like a big game. They say they’ll give you in one area, then take away in another. Any opportunity to work, I will, am willing to move in with someone. My daughter and I tried, but with prices in renting and housing we weren’t able to do it. Thank you so much Margaret for doing your best to address all areas of life and lifestyles. ❤️
I retired in my late 50's. I"m 60 now but being debt free gave me the confidence to retire early. I sold my home and bought a smaller home in a lower cost of living area. Because I need to pay for my medical, I work two side hustles. The first one is working as an independent contract for customer service and tech support. I can schedule my own hours and it's work from home. I work about 20 hours a week and it pays all the little bills like medical and dental insurance and gives me some fun money. I also have some rental income that pays for the rest. When customer service work is slow, I just switch to Door Dash. I have low monthly expenses which makes it a lot easier to live on a fixed income.
Thank you so much for sharing your very practical and obviously profitable ideas. I really love that you’ve been creative in finding solutions to make a little extra money and I’m sure that will learn from your experience. Thank you again for sharing.
Thanks for your post. Do your your side hustle employers provide you with W-2’s and provide income tax withholding? I’ve hesitated to take on side hustles, because I don’t want to have to file quarterly estimated income taxes. How do you handle the tax aspects? Thanks so much.
@@pathorn5895 No, I get a 1099 as I work as an independent contractor for both side hustles. I pay my own taxes. I used an app that calculates how much taxes I should save out of each check. and just pay each quarter. Last year I didn't pay quarterly and I got a 1099 and I file them for the whole year.
The solution is to never think of your income (or expenses) as "fixed". There is always something you can do to earn extra money. In 2020, I started reselling thrifted clothes and home decor online. Now I work from home, set my own schedule and work when I want, and earn more money than when I was employed. Conversely, there is always a way to trim expenses if you are willing to make changes. Go through your budget and strive to cut each expense by 10%, cut unnecessary spending and stay out of debt.
I really need to follow in your foot-steps, Linda, by selling items bought at thrift stores. I buy classic styled clothes and have lot of accessories to change my look. I particularly love silk scarves, quality belts and handbags. I watch Marie-Anne Lecoure for inspiration on UA-cam, to dress like a French woman. Though I am not so good at doing it, I really believe one needs to have some sort of income to boost Social Security, and there is only so much one can cut expenses if one is already down to the bare bones, and has always lived as frugally as possible, which I tend to do.
@@pinkelefant4ever That is another serious issue! So, the only way is to make a little extra, 'under the table'. Selling things does that, but can be quite time consuming and, I don't want people coming to where I live, so have to arrange to meet them at my Credit Union or another public space. Having experienced a Home Invasion, makes me less trusting. And, sometimes, the side effects of medical treatment make that 'inconvenient', which is why I tend to limit commitments.
Margaret you look absolutely Lovely in this video. You are definitely Pretty in Pink and your necklace is absolutely prefect! Thank you for the room for thought and opportunities to better manage our finances. Look forward to Part 2
I quit my job in 2021 and spent 3 months mulling over things. Go back to work or not? So I did a pretty deep dive into living on my savings at that time. These are the things I did and some were great and some were surprising and some were difficult. Before I even left my job, I cut out subscriptions and 'auto pay' things that I could live without. Cable TV, various insurances, security services, there was a surprisingly long list. Some were annual, and if you ignore them, they will auto pay again and it might be a huge hassle to cancel. I changed my cellphone plan to one that is half what I was paying before, and it's basically the same thing. I cut out trips to the salon for hair cuts and color, etc. Switched from coffee to tea. Cut out meat unless it was free or very cheap. I sold various things that I did not need or did not use (those 'someday' things). I had a motorcycle and I sold it, getting rid of the cost of gas, insurance and maintenance for that. I had a big truck. I sold it for the payoff and bought a very used vehicle that I am still driving with no issues. A small repair is far less expensive than a monthly payment. I went to many food banks or drives and got food. Some of it was not things I would eat, so I gave that to other people that were not able to go to these things. With this I learned that there is a lot of food out there, but there are also a lot of people that cannot get the transportation to get there to get it. I went to the local community center and searched for free things to do. I met with the director or services there (quite by accident). I got a lot of good information. I found that there is a program in most communities for people that are unable to drive. Volunteers will pick them up and take them to appointments, or even shopping if they need to go. I became a volunteer for this program. They gave me gas money only. But I benefitted from free services and decided that I could certainly give back some of my time. I also cashed in my 401k and paid off my house and made some improvements. Some might think this move was foolish, but at the time the retirement fund was shrinking. And after the improvements I sold the house for double what I would have. I got all of my money back, from the original value and the 401k. With all those things, my monthly expenses went from about 6k a month to about 1k a month. (before selling the house)... And I have to say that in the beginning I did a very detailed analysis of the money coming in when I was working. I was making about 6k a month and spending it all. Doing a detailed analysis is tedious and time consuming, but it was the thing that woke me up to my spending. I went back a YEAR in all of my expenses. I analyzed my bank account since everything coming in went there first. I have several videos about it to remind myself mostly of what I did and what I need to to. I also set up a FB group for anyone interested in what it takes to live on a small income. I had 500 people join in one day. Most financial groups and blogs and etc will blast you about making more money and investing your money, meanwhile giving you NO advice on what to do right now, with what small amounts you have RIGHT NOw and I was sick of that. As I am still able bodied, I went back to work after 3 months. But I lived as if I were only surviving on my savings. I do not eat out, EVER. Food is a HUGE expense if you eat out all the time, or drive thru, or pickup premade dinners, etc. I have the free Every Dollar budget app on my computer and I have a budget that I keep a very close watch on. I enter ALL of my receipts for any expenses. It has kept me in line. As I said I sold my house. I moved to another area of the state, and I bought another smaller house. I am working full time and still living on a budget. I now have a huge amount that I can put in my savings. So that when I do cut back, stop working I can live on my Social Security with a savings net. Many people think that we can live on SS if we just budget. Yes that might have been true a few years ago, but there are a couple of things that screw that up. One is inflation. No one can predict how high everything will be in the future. And the other is unexpected things. Like major medical events. Or having to replace appliances or a natural disaster that wipes out your whole home. Some might say you have insurance for that, but have you looked into it? Most insurances (for those that can afford it) have HUGE deductibles and numerous exclusions. When I broke both ankles, I had a 5 thousand dollar out of pocket expense within a month. That was WITH insurance. Plus other things that don't fall into any category with it. Putting gas in the vehicle so my sister could drive me to appointments. Paying for special equipment, a wheelchair, a ramp, a shower bench, the boots i wore after the casts came off. Having people bring me food and supplies. Paying the ambulance service since my insurance did not think that was necessary so they did not cover it. So even though I am not on a small fixed income now, I did give it a trial run and I was really shocked at what I found. Most of us live our lives thinking that when we retire, it will be the same, only on less money. Less money means a whole change in your WAY of living, which means you have to change your way of THINKING about it as well. I have come up with a dozen optional 'scenarios' for my eventual retirement situation. 1. stay in my home and pray nothing major needs repair. ( Insurance and taxes may make this impossible eventually). 2. Travel to very cheap areas and rent out my home while I am gone. 3. Sell my home and rent a small apartment. 4. Sell my home and buy an RV and travel. 5. Sell my home and move in with relatives. 6. Sell my home and buy into a trailer park or condo that takes care of a lot of things. 7. Get a roommate. 8. Sell my home and travel to other countries that are far less expensive to live. I have roommate at the bottom because I tried this a couple years ago and it did not go well. But it's an option.
This is helpful advice. I think sometimes folks get blocked and can't think outside of their present situation. I look forward to future videos on this topic. As for frugality tips, this one may be too obvious. I live in Spain where the economy has been stagnant for years and inflation has been especially bad in recent years. I follow the "grandmas/big family" tradition here of making big pots of healthy stews (lots of veggies and legumes) and that keeps 3 of us going for a couple of days at a time. It's also a time and energy saver. If you live alone you can break it into portions and freeze them.
There is a UA-camr who has a channel called, 'Spain on a Fork', I am vegetarian so love his channel, lots of good recipes. Even as I type, I am heating up a pan of home made leek and potato soup I made a day ago, and will finish off tomorrow. I by fruits and veggies, from the 'REDUCED' bins and then decide what to do with them. The reverse of shopping with a list, but it works for me. I also keep a very well stocked pantry to mitigate inflation and eliminate extra runs to the store for impulse shopping. There is always something delicious and nutritious I can make just by shopping what I have on hand at home.
Excellent video Margaret, important topic for sure! I bake my own sourdough bread for us (it’s $10 a loaf if I buy it from local bakery) and it costs me less than $1. Also very healthful with no added preservatives, none of the UPF additives. We also don’t carry expensive health insurance by choice, my husband is on Medicare and I have a clinic I pay $90 a month for. We also eat little meat, mostly veg and fruits. We are considering selling our house and renting too, someone else mentioned this. We own one car because there is no public transport in Colorado where we live. We like to travel and budget for it as we can. My husband is still working, but is a consultant so it is not regular income.
We have always been extremely frugal our entire marriage. So retirement wasn't a stretch, actually I believe we're making just as much, if not more now that we are retired (@ 60y.) It can be done.
After my husband died, Social Security really cut me down. I live on $15.00 a week for food. Chicken and pasta, hot dogs and beans are my staples. For my electricity I turned off the dish washer, hang my clothes up in back bedroom instead of using dryer, turned off water heater, turn it on the day I need to use. Unplug everything that is not in use. Changed my car insurance, changed my phone company got a cell phone just the basics, cut down on cable trying to find someone to put in antenna and how to set up remote control then cut cable. Cut off all credit cards. cut the giving to church. Cut off giving to diffefrent places. Trying to look for a room mate now.
What it boils down to, everything would be a lot easier if you were a illegal immigrant. That's how our Gov. takes care of his own people who paid taxes most of their lives. But it's the same in Europe. I know because of friends and relatives there. People have the same complaint. It's a shame that the politicians, with their rulings, are trying to strip the old folks of everything.
I am not retired yet at 62 still working full time. My husband is 70 and still working full time. We married later in life and bought a house later in life. My mortgage is still high. My husband took his SS check when it matured and we have been preparing by paying down our credit cards (completed next month) If you take your SS check at maturity, you can work as many hours as you want and no penalty. This year we are paying at least 2 extra mortgage payments to the principal so to reduce the years of payments. This will help us with retirement. I have so many hobbies that I can use for my retirement which I am working on now. I think Preparation is the key before retirement. But if you are in a predicament, you could find a way to make money on FB or elsewhere. (Selling extra plants you grow, selling vegetables or herbs, selling on etsy, etc.) The possibilities are endless.
Thank you Margaret for the tips! There are a couple mentioned that I need to look into. It certainly is a challenge. Sometimes I feel alone in my frugal world, so this is so nice to hear what others do.
You were absolutely definitely not alone :-) happy that you were able to find some ideas for yourself. I think all of us like to live a little frugally so we can save for things that we really love. Thank you for sharing.
I color my grey roots at home and only get my hair cut once a quarter at the salon. I rarely ever go out to eat at a restaurant. Both are huge savings for me.
I left my home country and moved to a different country in order to live my best life on a fixed income. Being away from my daughter is the only thing I've truly missed. However, the state of the US is steadily declining so as a single woman, I feel much safer living abroad.
@@CynthiaAva Mexico....I think you can only stay 90 days in France(180 days total in a 365 day period within the EU)....if you're from the. US, flights will be fairly expensive to France plus it's not all that affordable for someone on a limited budget.
Thank you for the video. I do live on a fixed income. I have only myself to look out for. I took early retirement at 63. I made a plan, i have a budget, and ive made it a tight budget. I live 20 miles from a major center and so must drive to get where i need to go. I shop for my needs. I garden in summer all my vegetables and friuts. I purchase my meat from a farmer which is my beef. I purchase other varieties only when on sale. In the fall i start to stock pile my staples so im able to cook good quality meals in winter so i dont need to drive much. I do most of my own home repairs, mechanical repairs, farm repairs this saves on costly service calls. My health is good so i dont have that expense. Ive lost many friends due to the fact that i live in the country but i provide my own entertainment. Ive always promised my self i would always have the basics. My house is paid for, have no car payment, ive taught myself to run my household like a business and keep my bills paid and dont spend on what you dont need. My wardrobe is minimal but can dress to the nines when i need to. Ive learned to cut my own hair and i wear minimal make up. I think of the future and have a few plans made if i ever decide to sell. I stay active and enjoy my life. Nature is all around me and provides me with inspiration to greet everyday with joy. Cheers Margaret enjoy your day and thanks again.
I have 3 dogs and 1 cat. I love ,y pets. I rescued 3 of 4. I just began making my own dog food! It is cheaper than the good quality canned food I WAS buying. My pets return much to me. Walking them keeps me in shape! They watch out for me too! The cat... well, you know how they are- lol she is the boss. I am single, grown children. 60 in few hours...yikes and excited. Second comment. Love this channel.
Making one's own pet food is a great idea, there are lots of healthy recipes online to help doing so. I also love my rescued pets. A bale of compacted Orchard or Timothy hay is now $35.00 a bale, and lasts my three rabbits a little over a month. But, their 24/7 manure production is wonderful the garden, and I can make 'tea' from it for my DIY hydropnic set I plan to assemble very soon for growing a hopefully huge, tomato harvest. At $21.00 for a bale of compacted straw that isn't cheap either. I did discover that pine pellets make great cat litter and cost a lot less than clay litter. A 40lb bag of pine pellet animal bedding costs me about $7.00, smells great, the cats don't seem to mind the change, and it saves me a lot of money. Better yet, would be if I trained them to use the toilet, some people do. Use, a litter box with a spare toilet seat on top, to get them used to using it, then gradually raise the height of the litter box, by putting telephone books underneath, and put it next to the toilet. The cats will then get the idea to just use the toilet when you remove the litter box and toilet seat set up. Don't ask me how to train them how to flush the toilet, I have no clue on that one!
@@sjordan7085 such rich feedback! I am now seriously thinking hard about the pine pellets! Cat litter is costly... I LOVE finding NEW and BETTER ways and this era of life I seem to have more focus on improving things. Thank you!!!
Happy 60th! 💐💖🛍️🎉🥳 Enjoy! I spent my 60th living in car with dog, 2 cats and they sure made me feel loved! All 3 rescues. We are all in this together. Had to quit my job after 20 years and lost home after 23 years due to aging parent. Next was my health. All my loving fur babies have crossed over 13,16,17 and saving me a spot in our final home together.
Excellent points. Prompted me to check about property tax savings for seniors. When eating out, ask if there is a “senior” discount. Many places do. Ty!!
Please do check into local programs. I'm 62 and working full time in retail, this is my only income. I applied for only 2 of CO's programs and they accepted me in both. One was Energy Assistance, they'll supplement my heating bill, and the other is a Weatherization program where they'll put in insulation if needed, etc but what I'm excited about is if my furnace needs replacing they'll take care of it and my furnaceis 25 years old, I can not afford to replace it, it was a concern that I had. I never imagined that i would qualify. Make an effort and you may be surprised.
Hiring a good financial advisor in my 50’s was the wisest decision I ever made. We stayed free of debt in our working years. We lived below our means for a long time to have more now that we’re retired. Great advice to stick to a budget.
Thank you dear Margaret. It's good to know there are others in the world who appreciate life on a tight budget. Life is very expensive but we keep looking out for our blessings. God is good. Amen.
For toothpaste squeezer Dollar Tree has them $1.25. For any liquid soap u can use some of soap in its ORIGINAL container, then just add water to same container!
I cut toothpaste tubes open and get many more teeth brushes before throwing away the container. When I used lotions and body washes I cut those containers open and had many more uses left that couldn’t be squeezed out.
Yes, watering down where possible is very frugal, as is using a little vinegar to get the last drop out of ketchup and other sauce bottles. I buy big bottles of shampoo and conditioner, then transfer into smaller bottles so I don't get carried away and use too much. I also gather small bits of soap and put them in the plastic netting that comes with veggies. Waste not, want not! My daughter just rolls her eyes, at my frugality, but then, she lives on twenty times more than I do. Sometimes, she asks, "What's that for, Mom?" Then, a week, sometimes a month later, she will say, "You know the ****** you have in the gararge? Well, we are ready for that now! Funny how that happens! I bought a bike for my little grand-daughter in near new condition, and was told it was much too big for her, a few months on, and she is happily riding it. I saved my daughter at least $100.00, because I paid $20.00 for it at the thrift store, and it is a fancy Disney one with streamers on the handlebars. I have also prepped food and essential supplies for her family, because I am sure she won't do that.
And Barter ANYTHING u can make, provide, help with (baby/pet sit, light gardening/housework, transportion, aweekend meal,or evening for busy single parent, handyman/woman work) trade thus for ANYTHING u might need😊
That's a really good point! Thank you for reminding me to do that. I really need to start sellng some of my thrift store treasures. Last week's haul was a tall crystal vase with a zigzag design, one similar sells for $195.00 on Ebay, I paid 4.99, it is thick high quality glass made in Poland by Koso. The other is a glass lotus shaped bowl, that sells for $95.00, I paid $4.99 for it.
@@elizabethforsyth3054 That's so kind and generous of you to help friends with their gardens. I am sure you are helping them to remain independent a lot longer by doing so. Paying a gardening service can be very costly. I remember that was the reason my aunt decided it was time to move into a Senior apartment, because she just could not afford to pay someone to take care of her large garden, and her husband had already died, when she became ill with cancer. You are a real gem to help others!
I always wish I had wise counsel regarding my money! I have learned to be frugal...but I fear too late! I will be 60 in a few HOURS. I love your channel! As of now, I continue to work. Hugs
Necessary topic Margaret!! Seniors centers are great, dollar trees, a good church for so many things!!!! Our church has a big Senior group who does many things to keep people active, provide help, and friends.
What you say, is so true. But, not everyone fits in with Senior Centers or going to Church, welcoming though they may be. I went to the local Senior Center for quite some time, took several classes, but ultimately decided it was not for me, mostly due to its political leaning, I did not feel comfortable. I am exploring other options, such as Life Long Learning which is offered by the local University, and provides a couple of free classes at various venues. One can also 'audit' classes at the uninversity for free. The Museum offers exhibitions, events and classes I am in the process of exploring. The library has Scottish Country Dancing as well as other kinds of folk dancing, and they also have a Repair Cafe, for small appliances, computers and other household items, all free. And, volunteering occasionally at the Humane Society Thrift Store is a way to make a friend or two.
I am living con a reduced income. I found a tax incentive apt complex with lots of activities. The tenants are responsible for them but use the community room. We have shuttle bus that takes tenants to shopping places. Rent has increased each year but so far is reasonable. We have a small library. I use public library services and some free app for movies. I eat out twice a month budget permitting. Internet and phone are nessitiess. Shop at thrift shops or sales. Play cards a lot. Check out cheapest tickets to go to shows or theatre. College plays are good. Use free museums. Very frugal groceries and bring home take home sacks as much as possible. Socialize with neighbors, family and church members. Read, crochet, and card making are my hobbies. I am trying to use up my own supplies before I buy more. Once a while I get lonely but try to reach out to others so I stay busy. Like learning about the. Other parts of the world as my budget doesn’t allow much travel. Look forward not backward .
Thank you so much for sharing all this wonderful ideas. I know they will inspire others. I love the idea of looking forward, not back. There’s so many opportunities and many are free :-) take very good care of yourself. Thank you for sharing.
Good topic, but in reality you are where you are today because of the choices you made in your earlier life. In my early years I lived it up and had fun jobs, but when I hit my forties, I knew I had to find a job that offered a pension. I remained single and knew that meant I had no one else to fall back on. I did not have many of the things other people take for granted like dishwashers, cable TV and new cars. I managed to buy my first home in my early forties and that 864 sq ft house allowed me after 20+ years to buy my next 2 homes for cash. I saved diligently. When I retired I relocated from crowded expensive Florida to a location that allowed me to live very inexpensively. This post is I suppose more for the ladies who watch your show who are of a younger age. Prepare, make decisions now that will ensure you are comfortable in your later years, don't leave it to chance.
Thank you for your comment. You’ve done very well. Thank you for sharing your strategies and the importance of making good choices when you’re younger.
I would agree with you to a point, but there are still things that can happen in life, over which we have little or no control, that can easily 'throw us off the rails' Consider the folk who lost their homes in the California wildfires, or floods. My home in the UK was flooded twice, and cost an absolute fortune to renovate and restore. Insurance doesn't cover everything, sometimes, very little. If one is unable to put insurance on a property it is often difficult to sell. Never -the= less, life must go on.
Thanks Margaret, this is inspiring me to deal with some things, looking into upcoming medicare facts, and start further planing for the future, instead of burying it, where it will come up sooner or later. 💖
We moved out of NY City to a state that has no state income tax and very low cost of living. This is what made us save so much money in the long run. Recently my daughter and her husband moved to midwest from MA and found as a young couple they save so much money every month on taxes, and monthly expenses. The big one is car insurance and food. For many in later life moving is hard but this is a great option.
I did the exact same thing. My cost of living has dropped by 50%. I am now mortgage and debt free. I can cover most of my expenses with a small part time job. I don't miss my previous home state and love where I am now.
i hope you realize how useful this information is--ty margaret & everyone in the comment section one day we were living life large in a big american city...husband got sick, then fired. we moved in with his mom. it's a disaster.
Sadly, even with our best plans and intentions, life has a way of making us take a step or two backwards. sometimes, often through no fault of our own. For example, theft happens to older folk, when we are seen as easy pickings, and happens within families more often than one would expect. Be cautious in choosing moving companies, sometimes things 'go astray'. Nothing one can do if it happens between countries. Natural and man-made disasters, such as floods and fires, are sometimes, very difficult to recover from, even if one has insurance, not everything is covered. Having a stash of Food Preps is essential to mitigate inflation and shortages, very handy during illness and/or job loss. The old saying, that two can live as cheaply as one, is really true. As, we become older, and women tend to live longer than men, many older women find themselves alone, some are single or divorced, resorting to living on small pensions that were never meant to supply all our needs. Making use of Senior Discounts for utilities, bus transportation is free after a certain age, property taxes, and many other discounts can help. In America, Ooma phones, cost little. I pay $7.00 a month approx. for my house phone, can call anywhere in the US, and I think Canada and speak for as long as I wish for nothing extra. Requires a special modem, but can be bought used for about $20.00. A friend saved more than $60.00 a month by using Ooma. Trac phones are free cell phones, and come with a free computer if one is low income look online to get one. No monthly service charges for either. A State Disability Placard for drivers offers free parking at quite a few places, I am thinking of Wa. State Ferry parking which is free with a placard, $14.00 a day without, but other places too, and makes life a lot more convenient, during and after injury or serious illness. There are discounts of 75% on water/sewer bills for Seniors in my county. The Senior Center provides yearly vouchers to local Farmers Markets every year, just fill out a form, no documentation required. $80.00 worth of food is better than a kick in the pants! Some folk like to go there for activities and free meals, I am not a fan. National Parks and some Museums have special days when one doesn't have to pay. Keep track of such offerings, because they add up. I am thankful to live in a house that is in good condition, and thus use little heat or energy due to excellent insulation. Drying clothes outdoors isn't always possible, but can do if the weather is dry.
Health, and financial issues are certainly a constant concern as we age. I never thought my life would turn out this way, even with careful planning. Today, I called Care Credit, to see if I could spread the cost of my dental care over two years, interest free, and discovered I can. That will be a great help, as I need a new gold bridge as well as a worn crown replaced. It will also mean pulling the purse strings even tighter as I pay it off. But, I am grateful going to the Dental School costs quite a bit less than going to a local dentist for quality care. I manage to get by, but it can be a struggle sometimes. Need to focus more on generating income from selling my treasures.
Thank you for this very relevant topic, Margaret. YES, it is challenging. I'm in the States and, where I live now, rents are ridiculously high. I have the challenge now where my son wants to move to a different state, and, I go, too. But, I have a (semi-estranged) daughter here and my two older grandkids. So, I'm feeling uncertain. I know she will resent me even more. As it is, she stopped speaking to her brother over two years ago, which is heartbreaking for me and for him. Prices are absolutely outrageous here, though..from rents to groceries, even toiletries. I buy what I can from the dollar store. Nothing fancy. With makeup, I've been decluttering, and, since I wear little, I've been "shopping my stash". Using what I have, and, it's enough. The economy is a disaster everywhere, and, I know that for many of us older women, the struggle is REAL. You are a lifeline and source of wisdom for us. Many blessings to you and prayers up for us all. Rosemarie ❤️
Let your daughter be free. Move with your son and let your life be free too. Be the good example to your grandchildren. Maybe she will decide to join you when she sees how well you live with lower costs. Write and send cards so she doesn't have to cringe on the phone. Write to the kids for contact too. Daughter must make her own decisions to be happy or not.
May I suggest you talk to your daughter directly and explain the financial reasons you need to move, at least if she is still angry you know know who did your best and if it’s better for you financially then move with your son. Just make sure to stay in contact with your daughter & older grandchildren and make it clear that no matter where you live you will always be there for them.
Hello Margaret, I live in Australia on a fixed income in my own home. It's still hard. The way I pay my bills is each pay I put divided amounts away to add up to the total amount on time.
You are such a beautiful wonderful woman Margaret You are so positive about life you help me through my day. Keep up the good work, the world needs more people in it like you From a Geordie subscriber 🇬🇧
Thank you so much for this video. I feel you really are understanding and so compassionate. I have felt such a failure for not making sure I had enough money for future years. I always helped my children with grandchildren and setting up their homes etc but now my health is limiting my abilities. I have decided to do some airbnb and see how it goes. The next option is to downsize somewhere I would love to be, a studio by the sea or something... that way I don't have to pay to see the sea! I really appreciate Sixty and Me, thank you again.
Please do not feel like a failure. You’ve done so much and everything‘s going to be fine. Thank you so much for your kind comments about 60 and me I treasure you in my life. Thank you.
After my son left home and I needed to take early retirement for health reasons, I downsized from a 3 bedroom semi-detached house to a small 2 bedroom maisonette ( I think that might be like a condo in the US) It is like a flat/apartment but you have your own front door. I have a lovely panoramic seaview which I have always wanted. Downsizing was difficult, but I recommend a smaller space with a wonderful view when we get older, as we are home more and appreciate the smaller things more too. All this to say that you could look into getting a seaview too.
I don't always read the comments. I did for this video, and I must say that I am truly impressed! The folks really came through for you, Margaret. There are so many good ideas here.....some I hadn't ever thought about! What a great community! Thank you for tackling this subject....it is not an easy one to deal with....and thank you for all the compassion you have for us older women....and all women....it shows in all your videos.
Thank you Margaret for this informative video! Some of the best ways my hubby and I save money is definitely by cooking and eating more at home. Restaurants are so expensive here in Southern CA. We do like to eat out on special occasions and lunches, but try to stick with more reasonably priced restaurants. It helps! Also you mentioned having a financial advisor. We hired a wonderful man that has helped us budget our finances long term. Richard is worth every penny and has earned us thousands of dollars in the past year.
We’re becoming more & more careful re: spending $$. We’re in a paid off small home which works well for us. Very budget conscious all the time. Great topic thanks so much for delving into this.
Yes I appreciate your comments. My husband passed away and I had to wait till I was 60 to get your Social Security and he had some union benefits but they’re not that much. I have a two bedroom apartment. Rent is gone up but for now I can pay it I’m wondering if I get any older I don’t have family that’s going to help me out if I got sick I need to keep going. I have arthritis in my hip. I’ve been trying to start walking again. I don’t have long-term care insurance. I don’t know what you think about that but at this age, it’s probably too expensive to to afford, thank you for your time and for posting the things that we think about when you get older, I’m 70 right now from South Dakota❤
You are so welcome. If you are truly on your own with no children or relatives, I suggest you take a look for Facebook group by Carol Marak . She speaks very specifically to the situation that you find yourself in. I wish you well. Take good care of yourself.
All states in the US have SNAP. Its just the new name for food stamps. Just found your channel and love your presentation and content. Thanks. I am 76 and am fortunate to live in a subsidized elderly apartment building. Every little bit helps.
Good morning Margaret, well I am not proud of this. my husband and I divorced and stayed together to share expenses. I had been married many years before to someone else and I was entitled to the ex's widows pension but only if I was not currently married. It was the only way that either of us could make it financially. We did this in 2016 and it works for us. It is not ideal maybe but it does work for us.
Excellent Idea, and many need to consider this when they marry at older ages reference impact on their Social Security or other benefits from past spouses.
Sometimes, we all have to do what we have to do, there is nothing to be ashamed about in doing so. As I see it, it is just being practical, especially when funds are very tight. Even though one plans for retirement sometimes things happen that are beyond our control such as illness, and natural and/or man-made disasters. Insurance doesn't cover everything. And, it is true what they say about two living as cheaply as one, one still has to pay about the same for utilities no matter how careful one is. Things like heating and airconditioning cost the same for one person as they do for several.
Please don't feel bad. You are entitled to your ex's pension by virtue of the fact that you were married to him. It very much sounds like you and your current husband/partner are committed to each other. That's what matters.
I live in the UK and live on a low income. Im 69 and have started living a minimalist life style after watching a UA-cam video. I paired down everything in my rented flat and just kept clothes I really feel good in. If I buy anything new I look for quality items in the sales. I used to buy loads of jewelry but now wear a nice pair of gold or silver earrings. I used to buy items from charity shopd but they dont get quality donations now so not worth it. I bulk cook and freeze meals for a month using home made bone broth in my cooking. I make kefir and this replaced buying yoghurt. I check my diary every week and work out if I have any expensive things coming up like birthdays and I dont arrange any lunches that week and try to do a few walks and just meet a friend for coffee. Ive been going to the gym for 7 years so I felt this was worth it as I go 4 times a week and I enjoy the time I spend there. I have a small car which is inexpensive to run but as a pensioner in the UK we get a free bus pass and can go anywhere with this...its been good as it relaxes me as I enjoy the scenery. I just use my car when I need to. I have lots of other things I do but the list is too long x
Eleanor -- you're spot on about the quality of donated items having deteriorated. I'm 69 too. Moved to USA from England, and am now planning to return to my homeland. So sad UK is following the USA norm of materialism and having excess. I've always loved used/vintage household goods and clothes, and rarely felt the need to buy new at a huge price. I am so glad I amassed my clothes, etc several years ago, and virtually the only thing I shop for is food, and my medicinal eye drops. Love books, and those are from thrift shops or used booksellers. Never been one to follow fashion or home design trends. Love my tiny space even though I grew up in a large home, but never yearned for that in adulthood.
@@lanialost1320Do think long and hard about where you Will move back to in the U.K. Go for a rural área or small village. Much has changed in the UK and not for the better. Same in Ireland. I am Irish btw.
@@lanialost1320 I live in a small flat for mature people. It's an extension on a big 1920s detached house with my own front door plus a small complex of bungalows within its own grounds. I love it like you do yours. I'm just grateful for the time I have now to just be me.
We have retired and are really noticing the cost of everything... 5 years ago we moved from the expensive country town to a small seaside town to a 161year old cottage.. we renovated the house and made a home... friendly people and relaxed inexpensive lifestyle. Luckily we don't owe anything on our home and no debts.. I think it's really important no to owe money and live carefully... we don't go out for dinners etc and I cook baked good from scratch as well as all our meals at home. Thankyou for a timely reminder about living within your means..🎉
So important. We boughtin a lower income neighborhood, but have a big yard and good size home. Many did not understand. Also, we do our own repairs as well as cooking, some gardening etc. Have enjoyed low property taxes. So glad now that we are older.
I am almost 62, divorced for 4 years from a man that ruined me financially. I am barely hanging on. I am a house mother at a maternity home making $15 an hour. Some things i do to make ends meet: I took in a 20 yo seminary girl as a housemate. I put large 1/2 gal mason jars in the toilet tank to reduce water used with each flush. Wash my clothing with cold water Capsule wardrobe from thrift shops Toiletries and food come from out dated products where i work I keep my food waste to a minimum I color and cut my own hair-and i get compliments all the time! I caregive for elderly I do clothing alterations as side gig I meticulouly meal plan to have balanced low cost low waste food I buy no christmas or birthday gifts for anyone but my two preschool grandkids I run myself ragged using good rx to get the lowest cost prescription I dont use paper towels or tissues I have a $35 limted phone plan I use drug store makeup I use store brand groceries with the exception of 3 things I take meticulous care of my belongings I have sold 80% of my household items I limit how warm/cold my house is or light usage I no longer send Christmas cards ( kills me) I no longer send flowers or food to bereaved-they get a sympathy card I dont go out with friends unless it is for a walk or lunch at my house I dont cook new dishes or any that require new spices that i might not like and be stuck with. I portion control and freeze meals i cook I dont buy toilet paper I use cash 99% of the time I live, work close by so i only put about 50 miles on my minivan a week I had to rehome my 2 cats (my son took them)…i couldnt afford the litter and food any longer. I dont drink alchohol. My one vice is a daily diet coke. I keep frozen milk jugs of water in the unused portions of my freezer and refrigerator.unit doesnt have to work so hard to keep dead air cold. Close my insulated shades. I shop at fewest retail stores as possible because the more i go to, the more im tempted to spend. Ie Dollar Tree I do grocery pick up at walmart because i know exactly how much i owe and if i need to take some things out of my virtual cart. I buy frozen bagged vegetables at wall mart: broccoi, calliflower, brussel sprouts, onions, fruit. No more waste. I eat 2 scrambled eggs on piece of walmart bread toast daily .50 breakfast that keeps me full until lunch. My entertainment is church, visits with friends, free community activities I get every drop of shampoo or lotion out of a bottle. If i get a shampoo i dont like, i use it as hand soap. I unwrap my bar soap and let it dry out for several weeks because a dry bar doesnt melt like a moist bar. Each item of clothing i own probably gets at least 200 wearings. I have a very small wardrobe from goodwill and walmart. I dont shop at amazon-too tempting. I do invest is all purpose greeting cards from dollar tree to send congrats cards or notes of encouragement to people. My insurance policies are bare bones. I dont know what more i can do. I was a stay at home parent and didnt thing i would be on my own at 60 and destitute. Im open for any ideas.
I was married 34 yrs and two yrs ago my husband suddenly passed away. We were only 54 yrs old. He was retired military (US Army) and I had been a stay home mother and never worked. He provided well for us because we did not live outside our means. But when he died suddenly I lost our home and his income. I bring in half his military retirement at 1390.00 a month and that is it. I will be able to collect off his social security in 3 1/2 yrs when I turn 60 but for now I am struggling in every way imaginable. Thank you for some helpful tips and reminders. I have cut back and cut out on basically everything. But you gave me more ways I think I can cut more expenses. Keeping you in prayer. I know we will be ok. We just can't give up! Blessings.
I started selling extra clothing on eBay, I've sold quite a lot and it declutters at the same time. I always cook at home, make my own coffee. I recently started making homemade dog food for my two dogs, (there is really cheap meat for sale at Aldi). 🐶🐶 Dogs are happy!
Selling clothes is becoming quite the popular way of making money. There are some other online groups than eBay now too that you can use. You’re doing some great things wish you well.
To do while still working - *Pay your mortgage off. Necessary! *Choose health insurance with an HSA. Max it out every year. Use it for medical costs in retirement. Triple tax advantage! *Track all your expenses with the Every Dollar budgeting app. Plan where every dollar will go. *Downside your living space. *Shop for groceries at lower cost stores like Aldi. Give up your addiction to name brands. *Sell your car, depending on where you live. I drove a golf cart and rode my bicycle. Uber when needed for further appointments. Lowers insurance cost. *Move away from HOA. Cheaper for you to hire someone to move your lawn.
I make my own laundry soap, coffee creamer, apple cider vinegar, dog food, and a number of other things. When I think to put it on the grocery list I look up to see if I can make it. When you make it yourself, you know what is in it, it is almost always cheaper and funny thing you can make the amount you want to have. The laundry soap is great cause it is washing soda, zote soap and borax. My neighbors boy suffers from allergies and this soap works for him, no perfumes, filler or additives.
You should start a UA-cam channel with Leone. Wonderful ideas. They’d be very welcome and popular but seriously you’re doing a great job of making things work and I’m proud of you.
@@californiaglo9666 I learned now to make bone broth from "Mary's Next" she has tons of things you can make. What I do is on the internet I put it making coffee creamer and all kinds of things just pop up. The lundry soap the same say. I have a lot of time and I spend tons of it sifting. I had my flame in the 2000's I was a Hawaiian radio broadcaster that was wondeful....thank you for the complement.
Good topic! I'm now 70 and we prepared in advance. Downsized to a much smaller home (not the home of my dreams) but so much less expensive in an area with lower property taxes. I now appreciate less to clean! I try to tell my friends that they need to be in a position to pay for their cost of living in the event their spouse dies and they lose that income. People don't think about that! I'm always joking that I'm going to live to be 93 so I'm not touching my pension now, I'm just letting it grow so that I'll have that money to live on into my old age! Thanks for all you do Margaret!
I did the same, I downsize to a smaller home in a lcol with lower property taxes. Best financial decision I ever made. I was able to retire in my 50's as a result.
You reminded me of friend of a friend, an elderly gent, who has mindfully repaired every aspect of the home he and his wife share, so that when he dies, his wife will not have to contend with taking care of dealing with repairmen. What a thoughtful gesture on his part. I have to say he can well afford to do so, not everyone can, he is a true gentleman. He was a General in the US Army, but calls his wife, 'The Queen', and believe me, he treats like one!
Hi Janice. Wonderful that you thought ahead and are preparing for a long and healthy life. Take care of yourself and have a wonderful wonderful weekend.
Thank you so much for this much needed information. I love the idea of food sharing. I love to cook and meal prep. Groceries are so expensive and that is a great way to eat healthy, share friendship and fellowship. This could cut down on food cost and waste.
I look for bargains on healthful food. I cook it immediately .Then I try to share some, especially with busy young Moms or seniors. As Christians we trust God and tithe.God returns it some how. In the past few days we got in expected tax money back, a widow brought us fruit , my husband was given a gift card for some favor he did, my daughter bought me a dress, I won a box of good chocolates in a silly game at a Sr lunch. God daily loads us with benefits!
I worked full time as a Registered Nurse for 38 years. I was a good saver. I live is a large home that I own. My property taxes are $6200/year. I waited until 66.5 to start Social Security benefits. I have a small pension. I work approximately 7 hours weekly in retirement teaching parent-assisted swim classes to babies and tots. I live a very conservative lifestyle, but still have to avoid some desired things in order to make ends meet.
Great video! We have to get past reluctance to ask for help! I discovered this week that my doctor could refer me for free physical therapy! I also recently got cash back credit cards and every bit helps.
I set my thermostat to 62 in winter and 81 in summer. I eat 2 meals instead of 3 a day. I never eat out or get take out, I cook all my meals at home. I save my eat out money to go out with friends and socialize a few times a month. I try to do a lot of free activities, like lectures at library and free concerts. I mow my own lawn. I think owning a home is expensive but I think rent is even more expensive. When I was working, I had a budget all worked out and the year I retired, inflation hit (2022) and it costs me about double to live now. I really don't know how people live on ss alone. I would have to live in a car if I had to live on ss only.
Thank you for sharing that you live in a one-room studio. You are truly an inspiration to me that you choose this and manage it. I live in Australia in a 3 bedroom house. I’m single and keeping my options open to downsize, however it is not easy because I like being in my house, even though expenses are difficult for me. Thank you for your videos. Rose Melbourne, Australia
Biggest things are 1) subsidized apartments and 2) learning and fully accepting totally minimal living inc doing very cheap (a dollar or two) things or even better-free things. Mentally challenging yourself to enjoy living with as little as possible.
I find it helps to think.. im not going to waste anything or buy anything i dont actually need. Downsizing means less housework and less to worry about.
NY has an office for the aging. They have housing for seniors. They also have programs that give free or low-cost lunches and various activities throughout the day. They have delicious, healthy and economical recipes online. Every state has a website with recipes from their WIC or SNAP agencies. No matter how carefully you plan, an illness can wipe you out. It’s scary.
Budgeting is key for me. I survive almost exclusively on social security. I’m lucky to have nice, subsidized housing relatively close to family. By tight budgeting and giving every dollar a job, I’m able to incorporate some “luxuries” that make life more enjoyable. I try to save enough to have one small vacation each year. In order to do that, I don’t eat out through the year and I’ve learned to eat on a budget at home. I also allow myself a certain amount of money every month for art supplies because that helps keep me entertained and fulfilled. Another priority is a bit of money set aside for monthly play dates with my grandsons. Being able to take them to a movie, the bookstore, to play putt putt not only serves as entertainment for me, it strengthens my bond with them.
Well, Margaret, I live in Massachusetts. It’s one of the most expensive states to live here in the US. We were born here. We live frugally, but the inflation over the last 3 years coupled with a state government that spends more than it has increased our living costs by 10,000. This is significant. We won’t move away from our only child and grandchildren. We cut wherever we can, but are spending down our modest savings faster than we should. It’s very scary now. Only the very poorest qualify for the benefits you stated. If you have even modest assets, forget about it. They want us dead. We are in the way.
Hi Andrea. Thank you for sharing. I really do understand what you’re saying. If you’re in that middle category trying your best working and saving what you can. There is not much help. It’s really frustrating I know take care of yourself.
We're in Mass too. Bloated public service budgets to keep the bureaucrats in clover. Rest of us get fleeced for every dime, and very meager to non-existent support even if you're scraping the barrel.
I tried downsizing, but I live in the UK, where flats are part of a leasehold. The lease owners have been increasing maintenance rates to a point where no one can afford them and those who have already bought these properties are trapped because they can’t sell them. The leases on the properties I was looking at were so short, it was an unknown future cost I couldn’t risk. I’ve decided to stay where I am. At least I get to decide what maintenance I choose to do. on my 2bed house. The car will probably have to go in a couple of years when I reach 70 and the insurance will skyrocket, even though I’ve never made a claim in my life. I’m constantly adjusting my expectations.
Thanks for bringing up this topic, Margaret. Luckily, my husband (now deceased) and I planned for our future starting in our 30s by opening up IRAs when they first became available and joining the plans at our workplaces. I’m now 77 and consider myself fortunate to be able to stay in our mobile home in a 55+ park in the Santa Ynez Valley in California. I have looked at income and outflow and most months my income covers my expenses. But I just had to have a bone marrow biopsy (I’m ok, btw) and between the hospital and various providers, I’ll be out just over $1,000. And yes I have Medicare and a supplemental plan. This is definitely not covered in my monthly income and I’m not sure how one could budget for that, other than to pay the bill off in increments. Ah, lightbulb moment…..that’s what I’ll do!
My 60 year old SIL just had a hip replacement and while they had insurance it did not cover about $5,000. The hospital let them make a down payment, and then pay the rest off at a workable monthly amount.
Margaret, such an inspiration to so many. Thank you. Reading all the comments, I’m so grateful to be living in Australia, although cost of living and lack of housing here is a major issue. I fear too for the future of our up and coming generations as the great Australian dream of uening your own home will probably be that, just a dream. I’ve housed my daughter and 2 grandchildren for minimal rent for 5 years now but she has asked if she can save a deposit for a house. I have agreed but think the prospects of this are probably not realistic. I’m currently assessing my budget again and think I’ll need to pick up some work to enable her to attempt to do this. Thinking if she does move out then downsizing is my best option too. Valuable information gained and I look forward to the next instalment. Blessings to you all
Re housing costs/sharing a house I advise friends to consider turning the master bedroom into a bedsit/studio. Many can access the outside directly so you are not living together but renting out a separate unit. I save 10%, no matter what. I have a neighbour with income of less than $700 and she can do it so always has an emergency fund. I notice in US people are on so many medications with absurd costs. Most are of no value. Spend that money on real food and your health will improve.
you are such a dear and I agreed with your comments today…sadly many people choose entertainment over knowledge and don’t keep up there should be places elderly could get advice there is so much seniors don’t seen to know about…… insurance, diet, money, relationships unbelievable I would work with a group who would be comfortable providing of that info ……
I love your desire to help others during the transition in retirement and living their best lives now. I know in Wi there are many services like those you outlined in NY is also available. Maybe asking some of the elders in one's church, or within their communities to see what others might be aware of them. Lots of things to worry be concerned with all over the world.
When I see paper products or household products I buy when on sale….. Taking care of a disabled husband homebound. We are in an apartment. Fortunately he is a veteran and that helps so much. We have a 2014 Honda paid for. 79000 miles bought when 3 yrs old and had 36000. We are a bit better now but still careful.
Retirement and living on a fixed income has been an adjustment for me, for sure. Budgeting, tracking spending. Making small changes such as brewing my own coffee, bringing a homemade lunch when going out for the day. Sell clothes I don't need to a consignment store. As someone who used to love clothes shopping, I now only replace clothes as they wear out. Buy used rather than new clothes - I buy mostly from local thrift stores. Changed my diet - we eat very little meat, more vegetables, beans, tofu etc. Shop around for cheapest food. Above all, don't compare yourself to others - you don't really know their situation.
You genuinely want to help margret.i am lucky but I appreciate what you are doing. Love your videos so sincere you sound like you have walked the walk...good on you. Dorothy from scotland
Very well spoken, many of us are 'in the same boat' , doing all we can to cut corners and make the most of what we have!
Yes!!! Everything you said! Also MO new vehicles, appliances or big money items.
The upside is my cholesterol has come down due to less meat.
Good job Susan!!
AARP also offers discounts and free tax help. They may also know other discounts available in people’s areas 💕👍
I am in my 70s and doing intermittent fasting (for weight loss and health reasons). But it has helped me realize that getting healthier and ridding my diet of prepackaged and snack foods makes for a tremendous financial savings. My food costs are about half of what they were previously!
I still buy a ready made treat occasionally but it's much healthier to make my own at home. My point is that it doesn't have to be deprivation. I've lost 27 lbs in 4 months and am halfway to my weight loss goal, am healthier and am saving a lot of money at the same time! When we educate ourselves about the food industry's "sins" and begin reading content labels, we might find ways to feel stronger, more alert and energetic, and save money! Win-win!❤😊👍
The greedy gov.taxr everyone to death, then spend buying wars& 7:21 death.bring in mass immigration, to cause housing shortages,and crooked ,greedy hose flipping schemes where a group will flip a house and increase its estimated value 4 times what it's worth, gov.inflation while everyone else suffers in wrecked lives.,and drug dealers.helo them cope.
I bought a bread machine for 12.99 at a thrift store and have been using it for years...I don't buy bread or buns..I have even used it to make my own cheese bagels..I use the dough cycle then put the dough in a reg. Bread pan and bake in my oven...
I also bought a electric knife cheap second hand to slice it and a wooden bread 🍞 slicer guide...it is better than store bought and no chemicals or preservatives...tons of receipes on pinterest
Very good video and I am one of those seniors. I was living independently on my own and I incurred over $12,000 in dental services which really put me in a bind. As much as I didn’t want to I had to ask my son for help. He allowed me to move out of my apartment and move into his house so I can pay down my debt and also save some money. Thank god for him. So I do understand the struggle.😣
You're one of the blessed ones. Your son will never regret being there for his mom. I know I don't!
You are very fortunate to have a close relationship with your wonderful son and that you are able to find yourself in a favorable living situation. 🎉
For years I have been using Castile liquid and bar soap, coconut oil, baking soda, vinegar, and other natural ingredients for healing, cleaning.
Liquid Castile soap can be used as shampoo, body wash, dish wash liquid, hand wash lingerie and clothes.
I make my laundry detergent…a 5 gallon container costs less than $5.00 and will last me about one year. I do three loads of laundry a week.
I mix coconut oil and baking soda to use for underarm deodorant, coconut oil is only face and body moisturizer I’ve used in about 25 years.
I only eat out once a week or less. Socializing with others is awesome for the mental health so I budget for it at least 4 times a month.
As you mentioned, a budget is necessary… I started that habit in 1985.
I live alone on less than $1700.00 a month in the best housing I’ve ever had in my 70 years of living.
Thanks for sharing this much needed information for many retired ladies.
Hugs from Arkansas USA 🇺🇸
Love your Positivity and I am going to try some of the things you are doing. Natural ways ate so much better for everyone.
Thx for all the excellent info. This is stuff we can use daily for rest of our lives. Uv helped alot of people. Sounds like ur happy, & in a good place.🌅 Physically & mentally!
I enjoyed reading your post so much. Wonderful ideas and really appreciate you sharing them with everyone. Please take care of yourself.
The coconut oil I just discovered it it’s all I’ve been using face and body for the last three years
Castile soap stripped the color from my hair. Just beware.
I cook most of my meals, and probably eat out 2-4 times per month. Started stocking my pantry for the past 2 years, and that’s been a blessing with rising grocery costs. Our senior center participates in no spend months where you’re only paying rent/mortgage, utilities and gas - no eating out for those months. While it was difficult at first when you have a stocked food supply it becomes easier. Seniors choose which months to participate, and the average is 3-4 times per year. Those months without weekly grocery shopping help pay for yearly car insurance, and other expenses that are not monthly.
Most of my friends are either a widow like myself or divorced, and we take small budget trips. Generally stay at an air bnb and split the cost by number of travelers, cook most of our meals, and have one nice dinner. If one friend is short on the travel budget we all pitch in to make up for the difference. Our community has lots of beautiful parks and free events that we take advantage of, and on park days we each bring food for lunch. Twice a month we have movie nights and alternate homes. While we don’t have everything we want, we certainly have what we need and feel blessed 😇 Here in the U.S. it’s challenging to live on social security with inflation, but as a group working together we manage to have a good life.
That’s wonderful!
Love this!
Love this. I pray I can have a supportive and fun group of friends someday soon, as I'm planning to retire.
@@CynthiaAva It makes all the difference in the world. Wishing you the very best in your future retirement ❤️
My daughter and son-in-law invited us to live with them. They have a large home and two active teens who I love to be with. We pay them so much a month to help with utilities.
It grieves me that we, who worked and contributed throughout the years when most of our personal and financial resources were expended on others, should be doing without so much. Nothing fancy, just treats like coffee, a comfortably warm home...something is very wrong here.
Exactly! I always take a hot drink, fruit and a sandwich with me, never spend money on coffee at Woods or Starbucks. I have only been to Starbucks once or twice in my entire life, when my daughter received a gift card for Christmas, and said I deserved it a treat. It seemed like another world to me, watching all the yuppies enjoying their very expensive fancy drinks and pastries. And, my little grand-daughter announcing that her favourite food is sushi. It never graced my lips until I reached the age of 74, she was 4 at the time! And, and enjoyed a mid-winter break to Hawaii.
Sometimes, rarely, I would love to splurge on a bouquet of fresh flowers for the house, or even a once in a lifetime massage. Both are out of the question. For some reason, a Day Out, would be complete if followed by a modest meal at a restaurant. Instead, I always take a picnic, that usually includes a treat, I know my daughter and wee one would find special. Even now, I cannot bring myself to turn up the heat, instead I always wear extra layers of clothes, and use a throw. An, electric one is a real luxury! Not really hardships, just budget limitations. Sometimes, having to struggle can put a dent in one's self-confidence no matter how skilled we become at navigating life's challenges. I make it a point to remember there are always those who are not as fortunate.
I did the math and realized that it was more cost effective for me to downsize and rent. The cost of owning my home, with taxes, insurance, HOA, repairs etc., far outweighed what I now pay for rent.
I also have the flexibility to move to a cheaper location if needed.
Rents keep going up. Maybe you can rent a room or two. We helped my 88-year old mom find a roommate. She was just on social security and could not live on it.
Sadly she did not prepare for the future.
@@californiaglo9666 Sometimes, some of us do not or did not have the option to prepare for the future. Also, none of us know what will ever happen during our aging years.
@@californiaglo9666 I checked my Social Security 'projected' income and at todays prices I would be able to live on it... but the problem is that we all think that and don't think about inflation. If I was getting 3500 TODAY, yes I could live on it. but in 10 years that will probably not be enough to live on. Most people don't look at inflation and factor that in. So that might be part of your mothers thinking when she didn't 'prepare' or maybe she had life events that prevented saving. Or like most single females, nobody really taught them the facts about retirement or budgeting. I am glad you were there to help her.
Just a comment about the fiduciary financial advisor, my parents paid a fee of $500 annually because they were over 82 years old and their assets couldn’t require a lot of maneuvering. When I was 63 I hired the same advisor and 2 years later I am still paying the original annual fee of $750. They’ve put in a considerably greater amount of work for me, as I now am transitioning into retirement. They have been worth the fee. I’m not wealthy, but say financial advisors are not only for the wealthy. I worked for nonprofits most of my career.
But... you could end up HOMELESS if the landlord flakes on you. That happened to my friend's mom.
70+ and looking for a new place😒
I have just started this journey after losing my husband of 37 years who worked up till 3 months before he died. I am on a fixed social security income but a Big Thing is we have been frugal most of our life's so maybe not as much of a challenge as some. My home is paid off, my 5 year old car is paid off. I live in a small house 672 sq feet and am mindful of my utility use. I do have a budget set up a certain amount is allotted for groceries, another for my savings account and another from money left over from his life insurance policy. I took some of that money and prepaid for my burial expenses so I don't have to pay for a life insurance policy it's done down to the very last detail. Things I do is buy dry beans and "Can" them up, it's much cheaper to Can your own versus buying in the store but even buying cans of beans will still save you money versus eating out and healthier. Tonight was Tostada Corn Shells with lettuce, a container of chili I made and froze the extra's with shredded cheese ( I shred from a bar of cheese versus buying it premade). I used tomatoes I grew and canned last summer over the top with sour cream. Learning to Cook in Batches and freezing or canning the leftovers is a savings. I drink a lot of lemon water if you don't like that you could add sugar and make it lemonade. I use my library a lot for books and DVD's. Socialization.. I go once a week to my sister's house and we have lunch at her house and watch a rented or sometimes free movie together ( her adult children still live at home and have streaming, netflix, etc which is on their main tv. Lunch is alot of times left overs her husband Batch Cooks. I have 2 friends my age that live in my neighborhood we go out to lunch together a couple times a month and pick on the menu at a country restaurant the same thing most of the time $11.00 for a meal and then of course we always tip our waitress for about $20.00 for me with the tip. In the spring/summer/fall we usually hang out on one of their porches and just have coffee together and catch up on what all the kids are up to. For us, simple things are enjoyable. We sometimes go to antique or vintage stores or thrift store hunts. They both have grandchildren or great grandchildren so we also have a lot of birthday parties together for the kids which is always a good time as we catch up with our bigger Circle and enjoy the kids. Staying socially active is important for our health and spirit. I also have 5 dogs and use a Senior organization that helps me with low cost yearly shots and nail trims. I put in my savings budget money for doctor wellness check up's yearly, their flea prevention and heartworm prevention meds. That is one important thing: We all have yearly expenses Property Taxes, Accountant Fee's, Insurance for home and auto, health insurance ( mine is monthly not Medicare yet), Water bills that come out every 3 months, AAA insurance.. I take that total and divide it out by 12 and that is what I keep in a seperate account and keep adding to it so I am not scrambling trying to come up with a expense I forgot about. I know this is long and your eyes are probably glazed over but it is working for me. And I try to not waste food I still cook like I would have when my husband was alive but freeze in single portions so when I am hungry and don't feel like cooking I just grab a meal out of the deep freezer. I watch a lot of you tubes on meals on a budget to keep inspired. Anna In Ohio
Hi Anna. Thank you so much for sharing all the details that you’re using to Cat . First of all I’m sorry for your loss. It must be very hard but you’re doing all the right things and I’m absolutely so impressed with the detail that you’ve gone into. Thank you so much for sharing. I am sure that there are many women who are reading every word and learning from you. Take care of yourself. Have a really lovely weekend.
@@sixtyandme Thank you and I hope they did we are all in this together and even one change in our budgeting lifestyle can make a difference. Anna In Ohio
Anna first so sorry for your loss and just in case you don’t know, you may be able to increase your SS amount based on your husband’s income if he made more in his life time than you( it doesn’t matter if he left you money or not, SS is separate from any other money resources you have)If you haven’t already done so you should go to the social security office and look into it. SS office is not known to offer information if you don’t know and ask they won’t say anything
I started “small” by getting rid of Cable TV, did away with my newspaper subscription as well as the house phone/only cell now … as my magazine subscriptions ran out, I didn’t renew them … love using our Public Library … I do want to keep my Internet; it provides me with news and a connection with the world etc…I eat out very little; save that for a very special occasion or maybe a special treat. I enjoy so many “free” forms of entertainment that our community provides … it’s a total change of your mindset and how you view things; start “small” a little at a time and make progress from there … I have more ways that I can save money and make more progress; it just takes changing that mindset. Love reading all of your comments; so very helpful! Thank you for your great videos, Margaret!
Hi Jeanne. You’ve described beautifully the shipped in mindset that is needed and I really appreciate you sharing. I love the library too. I go there all the time just to absorb the energy of people who love books and learning sometimes I just enjoy reading magazines with a cup of coffee and watching people :-) have a wonderful weekend
Hi there, can I start by saying what a lovely human being you are and I want to thank you for your caring attitude and sincerity.
I live in the UK with my lovely dog Poppy. I am 71years of age and have been retired from the NHS for just over 10 years and I have a small works pension plus an even smaller state pension and I have a mortgage which will end when I reach 80 years of age.
Thank goodness I have always been frugal and although I like nice things I am in no way materialistic.
I have done what you suggested jotting down money coming in and money going out and thank goodness the outgoings are a little less than my income and I endeavour to save as much of this as I can for unexpected emergencies or little treats now and then. I review this budget regularly as sometimes I think I no longer wish to subscribe to whatever it may, magazines, newspapers etc.
I only have myself to cook for so I always cook more than I need and pop what is left from my meal in the freezer so I always have a meal to fall back on if money is a little bit tight one month.
I don’t go into town very much because I don’t want to be tempted into buying things I cannot afford.
Once a month I do a food and household shop online which stops me being tempted by offers in the supermarket.
I haven’t had a holiday for several years now and would very much like to go somewhere different and interesting but I have to accept that this is not possible at the moment because I cannot afford it, acceptance is a good word don’t you think?
I try to remember to count my blessings, I live in a nice little village and my health is an issue but I am so lucky we have access to free treatment and medicines on the NHS, how long this will continue who knows.
I look forward to your videos and emails, thank you so much for them. Kind regards Jane
Great post Jane! We are fortunate to have the NHS, despite its more recent shortcomings due to the issues of which you and I are aware! Could I mention here that not all of US are in USA. Lol. MAny European countries have public health services.
Have you looked into home exchange for holidays/vacation? You could switch homes. I believe there is a website. My friend did it and had a good experience.😊
Yes, Jane, acceptance brings peace.❤️
Hello Jane. Thank you so much for this beautiful comment and all the wonderful ideas you suggested. I am just so amazed and impressed by the number of comments people have left to this article. It is truly something that’s on our minds and you’ve done an amazing job of sharing your own story. Thank you so so much.
In Illinois we were paying $4000 per year in property tax. We decided when we retired to move to a state with low property tax. So, we moved to Alabama. We save $3,600 per year just in property tax. Money that would go out and we could never recoup. It was scary moving away from family and friends, but we did the right thing. No severe winter weather to deal with. We take day trips to explore the deep south and enjoy doing that. We would not have been able to afford that freedom if we would have stayed in Illinois. No regrets! We did the right thing.
Agree 100%. I relocated from Florida after 6 decades. Costs in Florida are rising daily between higher property tax, and much higher insurance cost for not only home but vehicle insurance. I relocated to the mountains of North GA. Not only is it supremely beautiful but the cost of living is so much less. Seniors especially, get breaks on property taxes and state taxes.
@@buffycat4641 My sister moved to GA and I may follow soon. Florida is my home state and I am so sick of the cost of insurance. Sick to my stomach that I have to give it up. But that is what I will be doing soon. I am not retired yet, but very close.
But u spend a ton on air conditioning. I'm in Michigan and no way am I moving back to the south. I retired in 2019 but ended up going back to work, but now I get to pick and choose. Wonderful 😅😅😅
LOL...from Chicago and also decided to move to Alabama. Bought a home and with exemption, I have zero taxes on my property. What a savings!!! I love it here, yes the A/C is high but Chicago Heating bill was also high. No regrets!
@@buffycat4641
Wow! I didn't know seniors get a tax break in GA! I'm definitely interested in that. My state of Michigan is too expensive to continue living here as a senior.
Single since 1999.....long standing back issues...now 68 and making it on SS and some marriage reward retirement....just enough to not qualify for additional assistance.....tried the expat living but landed back in my home state a few years ago....living month to month but a huge key for me is being happy...finding the peace in the midst of it all...and I make my budget fun, like a game to met my needs...in other words, except the challenges with grace...and lastly downsizing with all aspects of life is a beautiful thang. Thanks to all who shared their stories...what a time we live in...:)
Single for a long time too and the mother of one young adult daughter. Helping her pay for college. Planning, if all goes well, to retire soon. It will be a challenge...but I'm inspired by how you shared about making it fun. Yes, what a time we live in, indeed.
@@CynthiaAva , at 68 and having reflected on my life...I spent so much time anxious/worrying about the future...I now choose to look for ways to enjoy the journey...blessings to you and your daughter, you both are almost ready for another chapter of life. 😘
I’m a retired, RN and I’m fortunate enough to have a pension as well as my Social Security benefits.
I became virtually debt-free at the end of 2021 and continue to keep debt to a minimum.
After my divorce in 2019, I had to start over at 63. I started collecting social security payments early at 64, but have to work part time to pay bills, probably forever. In usa, you cannot earn more than $21K or they hold social security payments back until you turn 70! I get $1200 a month, but my rent is $1000 and I have electricity bill, car payments, insurance, internet and a phone bill each month. This is not including food and gas (petrol) for my living. I never planned for this and Im pretty scared. I used 4 credit cards to their maximum and now am paying them off.
I lived for the day as a younger person,with a husbands 2nd income, I had no worries. Now at 66, Im alone and paycheck to paycheck. You hit it on the head. Id love to retire, but that is not possible right now. Its something I am sure others are going thru also.Thanks Margaret for addressing this.
I buy clothes from thrift shops, make my own coffee, prepare meals and freeze portions for later use, dont eat a lot of meat, and most importantly... stay positive.
Kathy, I relate to you on all your issues. I was divorced, too, at age 62 ( he deliberately waited so he wouldn’t have to pay me extra), and I lost my home and garden, and neighborhood, etc. I moved to Michigan to be closer to my son and his family, but it is Soooooo expensive here!!!! I was then scammed out of the savings I had from the sake of my home, and now credit card debt is strangling me. Then got my taxes done today, what a joke!!! The state steals money from us single older women. I was working parttime but store went bankrupt….unable to find another but still trying. I pray for you and all women like us!!!! God has a plan 🙏. Hugs from me 💕
In the USA you are penalized for being responsible! Very awful.
Thank you so much for sharing your story. Yes I agree staying positive is the most powerful thing you can do. Please take care of yourself.
Wow Dee, you have had challenges! I have friends and a brother and sister who will help if I really need it.
Im content in that I have a place to live, food in the fridge, car to drive and my youtube hobby. My job is satisfying. Im not rich, but Im not miserable. Your challenges seem huge. Im glad you are near family.
You will be fine. Things always work out. Times like these bring out the strength we women truly have. @@deezahm9143
the law states that if you cannot pay those credit card bills, they cannot come after your Social Security, and each state has a rule as well. In Texas they cannot sue you at ALL if you are on SS. In some states there is a generous limit of money you have over and beyond SS that they cannot touch. If you get to the point you cannot pay those debts, PLEASE look into this.
In my neighborhood we have a "Buy Nothing" group online where members post items they have to give free to other members of the group. It can be furniture, food, clothing, plants, etc. Members can also ask if anyone has something they need. Our town also has several free food boxes (similar to little free libraries) where unneeded canned goods, new toiletries, etc. can be accessed by anyone.
This sounds so wonderful. What town do you live in? If you don’t want to reveal that just what country :-)
Do you think this is available in Ontario? I would love to donate!
I'm caring for my 95 year old dad with alzheimers. I live on social security. My dad's care is expensive and his assets are running out. It's very scary. I'm definitely financial insecure. Thanks for this video.
Thanks for sharing!
You may have already done this but someone below posted this “Contact your county’s Aging and Disability Resource Center (ADRC) for expert tax funded support for negotiating the resources available in your state”. We did this with my mother in law and found it very helpful. They may have help for your father.
Thanks
Wonderful advice! It can be scary at this point in our lives. Hubby and I are now both retired, so our fixed income is a significant cut. We are in the throes of a progressive downsizing, and it’s becoming easier with every load we haul to a resale or donation shop,…or simply gift to others. We’ve learned we actually require very little, and we’re tired of “things” requiring our time. We are getting our home ready to sell, and have chosen to rent (under contract) from a family member for a while. It’s a win-win! (ALWAYS have a lease/rent contract for your own protection.) Fortunately, our new location will be closer to three of our four adult children. It’s also close to a major international airport and world-class medical facilities. Hubby is a cancer survivor, and neither of us are getting any younger. We will be in a city instead of a smaller town, but we believe it will offer more of what is required for us. Margaret, we may be choosing to rent from now on, as maintenance, taxes, and homeowner’s/flood/windstorm insurances are ridiculous in our current area. Renters insurance that covers our contents is going to seem a bargain in comparison, and we want to be able to travel some, not spend most of our time and resources maintaining a structure and caring for “stuff.” A studio sounds lovely! It might not be for everyone, but I could see it working for us at some point. Well done, you! We have chosen to both go ahead and receive SSA, and yes we took a cut, but we paid off both vehicles, and are able to pay off credit cards every month. We also have two major credit cards we use to pay for everything, and then pay them off at the end of each month to avoid late fees or any interest. I do know how fortunate we are to be able to do so! We also do this to accrue points for hotel rooms and air travel. I give Hubby his (long) hair trims, and I still wear an easy (inexpensive) pixie cut. We do most of our own manicures and pedicures, but do treat ourselves periodically if we are able to afford a bit of extra. We do not dine out frequently, and could not afford to do so anyway. We do not gamble, and that isn’t our form of entertainment anyway. We do not subscribe to a cable television service, but do have unlimited Wi-Fi and a low-cost movie service for around $16. per month. We have plenty of viewing options! We are also planning to downsize to just one vehicle. These are just some things we do, and most we have been doing for some time now. I do enjoy painting from travel photos, and Hubby would enjoy more golf, but during this transition, it just isn’t realistic for either, and we do have to watch our timelines/deadlines and finances. We certainly stay busy, and look forward to our new location and adventures, but know there will always be adjustments to be made. We also know how fortunate we are to still have each other. Thank you for continuing to choose subjects that are sometimes hard, but keep us grounded. You are appreciated!
I write out a budget for every month, then put alittle in savings for a rainy day. I only buy what I need and not what I want, but I will treat myself 🎉once in awhile. Just do not spend more then what you make. Write out what you cannot do without , like housing, food , etc.🎉🎉🎉
Even so, life can be a struggle, that can be a tad depressing at times. I am a big fan of having an occasional treat, but those are few and far between. Just came in from the garage, and am so happy to have been a Prepper for so long. Even when 'stretching pennies' I can always make a nutritious meal by shopping what I have already stashed, and sometimes I even come across surprises....lol....ones I have purposely hidden from myself!
Such an important topic, Margaret.! Living frugally, is the only way to go. Personally, I adopted a frugal lifestyle many moons ago as a child living in England. Both my parents survived and thrived during two World Wars, and what they didn't know about 'stretching pennies' is nobody's business. I am so thankful I have prepped for self, pets and adult family. If I had not, there is no way, I would be able to manage now days. There is also some kind of unexpected expense that rears its ugly head, and makes one scramble to juggle and rejuggle one's budget. Yesterday, I went to the Dental School in Seattle. Worth the cost of driving and parking. All day parking cost $19.50. My appointment lasted the entire day, from 9.30 am to 5pm. Takes a lot longer to have treatment done by a student and Attending Dentist, but my savings will be 30-40% over a private dental office where I live. Even to do this, I use a Care Credit card, so that I can pay for treatment without having to pay interest. Even so, a gold bridge will be over $2000.00. I pay for quality, because it lasts a lifetime and is worth it.
Sometimes, I think about moving, but, even that is not feasible, because I cannot afford to, and family is already a three hour drive away, as it is. Possibly, I could save for an RV large enough to live and travel in, but that would be down the road from now. Excuse the pun!
Having pets, brings great joy, and I am unwilling to give them up, as all were rescues. Sometimes, the idea of having a room-mate comes with its own problems, if the person is not compatible, does not share a similar lifestyle, and is not careful in their use of utilities or care of property. I am working on sorting my treasures, and selling my stash of books and other items. I plan to grow fruits and veggies in the garden, and make a DIY hydroponic set up to grow tomatoes. I also bought grow lights, so it could also be used in the garage. I pick wild blackberries during the season. So, other than very few things such as car expenses, for my elderly Toyota, vet bills, and a rare Beauty School hair- do, everything comes either from discount grocery stores and Thrift Stores, or Yard Sales. I live like a queen, but doing so is becoming more and more difficult, no matter how creative one is. I live simply and make use of free community entertainment, go on picnics and ferry rides. I take care of possessions and never waste anything. And, have soap making items, for personal use and make for gifts. I buy material and notions at thrift stores to sew dresses and other items for my grand-daughter, and a little girl my daughter and I sponsor. A form of tithing, that some consider a brings abundance.
Instead of taking vacations, I have a vintage RV, to use for occasional overnight local trips and visiting family, and hopefully one day, National and State Parks. It is very economical, 4 cylinder Toyota, small and compact so gets 16miles to the gallon, insurance is less than $300.00 for the entire year. Local Museum offers exhibitions, events and various talks/classes. I also volunteer at a Humane Society Thrift Store occasionally. And, I often meet new people at one of many beautiful parks our town is blessed with. Being vegetarian. Plain and simple is how I live, thankfully, all Medical expenses are taken care of by insurance and/or plans of various hospitals which write off the difference if one's income is limited. Such help requires applying for on a regular three or six month basis.
In a rather large nutshell, Margaret, that is how I manage. And, I watch a couple of wonderful UA-camrs, like yourself, who inspire me, and add peace to my life.
Impressive my dear! Excellent suggestions. To the QUEEN! 👑
Wow. I read your story. Very detailed and love that you shared with us. You’re doing so many beautiful things and creating a life that is magical and thank you for sharing so much. Take care of yourself you deserve it.
Well done, you have have given me inspirstion
@@suzettecooper382 So kind of you to say so, my life seems very ordinary really. Like everyone else, I do my best to make the most of what I have, and to be grateful for it.
@sjordan7085 I loved your tips and how you live a good life! I am in the Browns Point area(NE Tacoma area) I turn 59 next July. I too love to garden and thrift. I am still employed full time and work remote which is lovely. Thank you for sharing your story! Best, Tonya
This topic resonates with me. I am retired after working all my life but after a vicious divorce I am without assets. So I started over and live in a tiny home. This lifestyle is not what I have had and worked for but its my reality. I do have a fixed income and shop frugally. I don't know any other solution. I don't buy luxury anything, and no nice vacations. I won't be taking a cruise or anything similar. I am trying to be content and at peace. I don't compare myself to other people, avoid the news and most social media. Life in America is very difficult for those of us without financial assets. Its the bottom line here. Unfortunately.
It's the same in the UK, but at least we have the NHS, which is healthcare free at point of delivery for everyone. It's not free because we've all paid National Insurance contributions throughout our working lives and been credited if we've claimed welfare benefits or child benefit, but it's a huge relief to have the NHS. The government is constantly trying to run it down and get rid of it though. I think the key to living on a low fixed income is to change our view of what a 'luxury' is. It's anything that isn't an essential, but that we get great pleasure from. It's a privilege to have grown older, and a privilege to be able to afford not to work, so if that means slowly drinking a lovely herbal tea each day while sitting and relaxing is a luxury, then it is.
@@amandahunter4034Love your post, Amanda!!
Yet we taxpayers pay for the luxuries of the incar erated and the illegal aliens!!!😡
@@amandahunter4034 In the US we have Medicare which we paid into all our working years, and must pay a monthly amount to maintain. On top of that it only pays a portion of our expenses with a deductible. So, one must have a supplement and they vary in cost or an Advantage Plan that requires you to stay in a group. Hope your UK plan continues to serve the people.
You ''hit the nail on the head' . Trying to be content with one's life is a big one! I make it a point to aske myself, what one thing would make me happy today? It is a part of self-care to keep me on the right track. And, not comparing oneself to others is huge. I have discovered that friendships with those who do not share frugal lifestyles are not sustainable, especially when one cannot affort to eat out frequently, or enjoy more luxurious pleasures. Instead, I am very down to earth, not earthy, but practical and live according to my values, something I have found to be very helpful. To be honest, without having been a mindful Prepper, for most of my life, I don't know how I would cope right now. Prices have risen so drastically.
I'm not being captious. The fixed income thing always puzzles me. My income from employment was fixed - I earned the same amount each month. I paid very close attention to my outgoings and chose to live well within my means so I could max out my retirement funds. Frugality is a habit. I was never a high earner.
Same here, frugal all my life and continue to be frugal and save now that I am retired. Each time I get an increase to my SS, I put it away and pretend like the increase never happened. Then, I have money if a surprise expense pops up or I want to take a frugal vacation. Did the same when I was working. Every raise went into a fund.
Frugality is a wonderful habit, as is the i dea of having hobbies that are productive and help one stay mindful. Gardening comes to mind, as does sewing, wood working and the like. Learning any skill that saves money is useful. I bought the equipment necessary for grooming my little dog. Even the cheapest groomer in town charges $60.00, still more than $50.00 if I go on Senior Day! So, I can watch UA-cam and learn how to do it myself for a lot less. And, I found pet shampoo at the thrift store for $2.00 a bottle, and bought several.
I am 67 on disability with PTSD, able to work 20-25 hrs a week, homeless. No safe affordable housing for JUST women, no drug/alcohol problems, had careers.....still have much to give, with no safe affordable housing to live. If you don't have family willing or able to help, you're screwed.
That's when you need to pair up with a trusted other person or friend. Like a roommate. Or someone in your same circumstances. Never say never and Never give up.
I feel so grateful to have a cosy roof over my head! Your life struggles must be very difficult if not unbearable. Where I live, the Opportunity Council matches people with Seniors who have housing, but could use a little help, usually with simple things such as shopping, or just having another in the house for companionship, or, so that they can feel comfortable/safe living alone. It helps both the person in need of housing, as well as the homeowner living alone willing to share, often rent free. Obviously, being compatible with eachother would be a big part of the equasion, but could prove mutually benefitial. That said, living in close quarters to another may not be everyone's 'cup of tea.' I have also seen similar situations advertised on the notice board of my local Senior Activity Center, ads for those looking for housing, as well as people offering to share.
Every roommate scam I've accepted has involved their theft and/or abuse. Nobody knows or trusts me. I used to be trusted by all. I'm still that person, but strangers see me as too nice
It can be hard. I now find myself traveling going to 3 different supermarket's to buy groceries. I never thought I'd be pitching pennies at certain times. Deciding whether to sell the house and maybe go into a co-op/condo. So much to think about and it's tiring mentally. I must say I will have to rewatch this as I came in towards the end. Thank you Margaret for all you speak on.
Avoid condos. All the headaches of renting and homeownership.
That being said . There no legit housing here available. Established people pay $1500 for rent. $500 for travel trailers and slumlords.
Yes, I shop at 5 different stores for their bargains, especially Aldi.
@@pinkelefant4evercondo fees can get expensive
Be careful
I have pension with tiny annual adjustment. I am now curbing my non essential spending (no clothes shoes bags). I shop at a bargain grocery buying items about to expire. I cook with what I bought so nothing goes bad or wasted. I don’t eat out. I combine trips to get things done in one loop. I don’t turn on AC or heater. Cities usually have programs for seniors like food bank, classes, and small help. Everything is on the city website so do check it out. I save cash monthly for future expenses. It is a must no matter how little you can squeeze. I found that by writing down every cent I spend every time I spend it, I am much more disciplined in not buying things I don’t need like expensive skin and hair care, prepackaged food, and too much hobby things. It was scary to watch the amount pile up towards the end of month.
I am waiting until I am 70 to collect SS. Still working FT in a job I enjoy most of the time.
Hello Margaret from las vagas nevada,I don't usually write a comment but ,love ,love your channel and all the wonderful ladies that contribute to the dialog, I move from NY because it was outrageously expensive, but I find vagas has become the same. I was very lucky to buy my " vacation home" in 2011, my mortgage is literally half what my rent was in NY so I moved and now this is my forever home I hope,having said that the house is much to be and the upkeep is difficult, but I was never married or had children I have lived alone since I was 22 and am now 68 I can't see myslef with roommates, so I will have to do the best I can thank God I have a pension and SS.
Thank you so much for your comment and for your lovely kind words. I’m so glad that our content has been helpful to you. Please take care of yourself and have a fabulous life.
People have to understand rhat youre NOT GETTING MORE if you postpone social security. Youre just DEFERRING it unto later. Collect as soon as they can before they take that away, too!!!!
I agree. I started at 64. I will make a little less per month starting at age 70, but add up all those months of payments from 64 to 69 and it works out better, and while I need it!
I waited until 69.5 and I have zero regrets. I am thrilled with my big checks. That 24% adds up! I didn’t need the money so I waited. I have no health issues and both parents lived well into their 90’s!
Thank you so much for sharing all those wonderful ideas. I am so happy and impressed people have watched the video and see the value in sharing with others. I’m so proud of this community.
My girlfriend waited until she retired just before turning 67. She purchased her dream retirement home and had many plans. A year later she was diagnosed with pancreatic cancer and passed away 8 months later. Don't wait to enjoy your life, you never know when it will end.
@@buffycat4641
My condolences on your friend's passing.
Thank you for this video Margaret. Uplifting as ever and I’m so thankful that you care and want to help us all with the costs of living and anxieties that this brings us all today. I keep trying to find ways to cut back but it does get harder and coming up with more cut backs is ever more difficult. I am in the Uk and like another lady posting today, I have two little dogs, both ageing now and this means medicines which are very costly here too. I’d not be without the company of my lovely little dogs and feel sad that I’ll lie,ly not be able to have other animal companions due to the costs of caring for them which is an important commitment for them to have good quality of life. Wishing everyone here the very best with the struggles we all face. 💕
Hi Paula. Thank you so much for sharing your story with us. It’s very sweet of you to care about other people. You have a very beautiful heart. I hope that you’re doing OK. Take good care and have a really good weekend.
Hi Margaret. I’m in the UK. It’s easy and free to have a senior bus pass. Free travel after 9.30 am weekdays and no limit weekends and bank holidays. Senior railcard, you can get this at 60, gives you 30% off rail travel around £30 a year. Check for discounts for seniors at various shops. Free prescriptions and eye tests at 60. Your local library and ‘warm hubs’ have free activities as well. Your local council may have events too. My local sea side town has lots of free events in the summer. Thank you for this video today.
Yes Brenda. The senior smart-pass allows Travel by bus. Here in Ireland It also covers rail Travel. And as you say, there are so many activities and associations for older people.
Wish I lived in the UK.
We have free Senior Bus Passes in the US too, for those over 70, where I live, and pro-rated for those over 60. I have one, but tend not to use it, I take it with me when I ride my electric bike, incase I want a ride home for some reason, they attach bikes to the front of buses. I have one that folds and can go inside the bus. It is a fun way to exercise and get fresh air. I love to use the State Ferries, which offer discounts for Seniors. The trains do too, but are generally still too expensive for me. We also have buses that will pick up elderly and/or disabled folk from their homes, for appointments etc. if they order the day before. I believe the charge is $5.00, not sure if that is one way or round trip.
@@sjordan7085 Sounds great SJordan!
Your suggestions are smart and truly helpful. Never dawned on me this crucial topic had a voice on YT. My best decisions: got rid of my car, eat at home 99% of the time. Screw fashion; just be cool.
it's called common sense
I do plan on waiting for social security till I’m 70 in order to maximize funds. I guess I never really thought about saving on things I make but I do. I make my own household cleaners using alcohol, vinegar and essential oils oh and baking soda. I make my own mix of face cream and I bake my own bread. All these things I love to do and make me happy so I am saving in that way. Though I only just turned 57, I am a new member to a senior center that provides free lunches and many activities to be part of like painting, ceramics and games to play with others…the human connection is important. San Francisco does support seniors and the low income community so I am fortunate. So ask questions and find these things, they’re out there, I promise. 🙏🏽🙋🏻♀️👍🏽☺️Mia
I sense your care and empathy for those of us who are on a fixed income. I have tried and done everything available and am continuing to be open with any way that I can live more comfortably without having to be too concerned about unplanned events. Today it truly is difficult the last couple of years. I always heard about scams on senior citizens and didn’t consider myself to have to be concerned about that. In the last year I have been scammed by two major corporations that I trusted so now I’m hardly going to do anything unless there’s no doubt about anything. I work hard at getting the best prices, but the big corporations and government just don’t allow for any getting ahead. It’s like a big game. They say they’ll give you in one area, then take away in another. Any opportunity to work, I will, am willing to move in with someone. My daughter and I tried, but with prices in renting and housing we weren’t able to do it. Thank you so much Margaret for doing your best to address all areas of life and lifestyles. ❤️
I retired in my late 50's. I"m 60 now but being debt free gave me the confidence to retire early. I sold my home and bought a smaller home in a lower cost of living area. Because I need to pay for my medical, I work two side hustles. The first one is working as an independent contract for customer service and tech support. I can schedule my own hours and it's work from home. I work about 20 hours a week and it pays all the little bills like medical and dental insurance and gives me some fun money. I also have some rental income that pays for the rest. When customer service work is slow, I just switch to Door Dash. I have low monthly expenses which makes it a lot easier to live on a fixed income.
You have the right formula that many refuse to live by. Great job, all the best to you.
@@rohinibhat4955 Thank you. I live a modest but comfortable life. It works for me.
Thank you so much for sharing your very practical and obviously profitable ideas. I really love that you’ve been creative in finding solutions to make a little extra money and I’m sure that will learn from your experience. Thank you again for sharing.
Thanks for your post. Do your your side hustle employers provide you with W-2’s and provide income tax withholding? I’ve hesitated to take on side hustles, because I don’t want to have to file quarterly estimated income taxes. How do you handle the tax aspects? Thanks so much.
@@pathorn5895 No, I get a 1099 as I work as an independent contractor for both side hustles. I pay my own taxes. I used an app that calculates how much taxes I should save out of each check. and just pay each quarter. Last year I didn't pay quarterly and I got a 1099 and I file them for the whole year.
The solution is to never think of your income (or expenses) as "fixed". There is always something you can do to earn extra money. In 2020, I started reselling thrifted clothes and home decor online. Now I work from home, set my own schedule and work when I want, and earn more money than when I was employed. Conversely, there is always a way to trim expenses if you are willing to make changes. Go through your budget and strive to cut each expense by 10%, cut unnecessary spending and stay out of debt.
I really need to follow in your foot-steps, Linda, by selling items bought at thrift stores. I buy classic styled clothes and have lot of accessories to change my look. I particularly love silk scarves, quality belts and handbags. I watch Marie-Anne Lecoure for inspiration on UA-cam, to dress like a French woman. Though I am not so good at doing it, I really believe one needs to have some sort of income to boost Social Security, and there is only so much one can cut expenses if one is already down to the bare bones, and has always lived as frugally as possible, which I tend to do.
I lose my insurance if I make too much.
@@pinkelefant4ever That is another serious issue! So, the only way is to make a little extra, 'under the table'. Selling things does that, but can be quite time consuming and, I don't want people coming to where I live, so have to arrange to meet them at my Credit Union or another public space. Having experienced a Home Invasion, makes me less trusting. And, sometimes, the side effects of medical treatment make that 'inconvenient', which is why I tend to limit commitments.
Margaret you look absolutely Lovely in this video. You are definitely Pretty in Pink and your necklace is absolutely prefect! Thank you for the room for thought and opportunities to better manage our finances. Look forward to Part 2
Thank you so much
I quit my job in 2021 and spent 3 months mulling over things. Go back to work or not? So I did a pretty deep dive into living on my savings at that time. These are the things I did and some were great and some were surprising and some were difficult. Before I even left my job, I cut out subscriptions and 'auto pay' things that I could live without. Cable TV, various insurances, security services, there was a surprisingly long list. Some were annual, and if you ignore them, they will auto pay again and it might be a huge hassle to cancel. I changed my cellphone plan to one that is half what I was paying before, and it's basically the same thing. I cut out trips to the salon for hair cuts and color, etc. Switched from coffee to tea. Cut out meat unless it was free or very cheap. I sold various things that I did not need or did not use (those 'someday' things). I had a motorcycle and I sold it, getting rid of the cost of gas, insurance and maintenance for that. I had a big truck. I sold it for the payoff and bought a very used vehicle that I am still driving with no issues. A small repair is far less expensive than a monthly payment.
I went to many food banks or drives and got food. Some of it was not things I would eat, so I gave that to other people that were not able to go to these things. With this I learned that there is a lot of food out there, but there are also a lot of people that cannot get the transportation to get there to get it. I went to the local community center and searched for free things to do. I met with the director or services there (quite by accident). I got a lot of good information. I found that there is a program in most communities for people that are unable to drive. Volunteers will pick them up and take them to appointments, or even shopping if they need to go. I became a volunteer for this program. They gave me gas money only. But I benefitted from free services and decided that I could certainly give back some of my time.
I also cashed in my 401k and paid off my house and made some improvements. Some might think this move was foolish, but at the time the retirement fund was shrinking. And after the improvements I sold the house for double what I would have. I got all of my money back, from the original value and the 401k. With all those things, my monthly expenses went from about 6k a month to about 1k a month. (before selling the house)... And I have to say that in the beginning I did a very detailed analysis of the money coming in when I was working. I was making about 6k a month and spending it all. Doing a detailed analysis is tedious and time consuming, but it was the thing that woke me up to my spending. I went back a YEAR in all of my expenses. I analyzed my bank account since everything coming in went there first. I have several videos about it to remind myself mostly of what I did and what I need to to. I also set up a FB group for anyone interested in what it takes to live on a small income. I had 500 people join in one day. Most financial groups and blogs and etc will blast you about making more money and investing your money, meanwhile giving you NO advice on what to do right now, with what small amounts you have RIGHT NOw and I was sick of that.
As I am still able bodied, I went back to work after 3 months. But I lived as if I were only surviving on my savings. I do not eat out, EVER. Food is a HUGE expense if you eat out all the time, or drive thru, or pickup premade dinners, etc. I have the free Every Dollar budget app on my computer and I have a budget that I keep a very close watch on. I enter ALL of my receipts for any expenses. It has kept me in line. As I said I sold my house. I moved to another area of the state, and I bought another smaller house. I am working full time and still living on a budget. I now have a huge amount that I can put in my savings. So that when I do cut back, stop working I can live on my Social Security with a savings net.
Many people think that we can live on SS if we just budget. Yes that might have been true a few years ago, but there are a couple of things that screw that up. One is inflation. No one can predict how high everything will be in the future. And the other is unexpected things. Like major medical events. Or having to replace appliances or a natural disaster that wipes out your whole home. Some might say you have insurance for that, but have you looked into it? Most insurances (for those that can afford it) have HUGE deductibles and numerous exclusions. When I broke both ankles, I had a 5 thousand dollar out of pocket expense within a month. That was WITH insurance. Plus other things that don't fall into any category with it. Putting gas in the vehicle so my sister could drive me to appointments. Paying for special equipment, a wheelchair, a ramp, a shower bench, the boots i wore after the casts came off. Having people bring me food and supplies. Paying the ambulance service since my insurance did not think that was necessary so they did not cover it.
So even though I am not on a small fixed income now, I did give it a trial run and I was really shocked at what I found. Most of us live our lives thinking that when we retire, it will be the same, only on less money. Less money means a whole change in your WAY of living, which means you have to change your way of THINKING about it as well. I have come up with a dozen optional 'scenarios' for my eventual retirement situation.
1. stay in my home and pray nothing major needs repair. ( Insurance and taxes may make this impossible eventually).
2. Travel to very cheap areas and rent out my home while I am gone.
3. Sell my home and rent a small apartment.
4. Sell my home and buy an RV and travel.
5. Sell my home and move in with relatives.
6. Sell my home and buy into a trailer park or condo that takes care of a lot of things.
7. Get a roommate.
8. Sell my home and travel to other countries that are far less expensive to live.
I have roommate at the bottom because I tried this a couple years ago and it did not go well. But it's an option.
also, I use a natural crystal deodorant stick.. the last one I had lasted over 7 YEARS.
Thank you so much Annie for taking the time to explain all of the things you’ve done. Very impressive. You should write a book :-)
@@sixtyandme LOL I think i did in my reply!!! sorry it was so long!! I did several personal videos.
L
Thanks Annie. I think your process was well done and well explained.
I was able to join the YMCA for free because of my income. I go to exercise class and decided to take advantage of their showers.
I wish we had that
This is helpful advice. I think sometimes folks get blocked and can't think outside of their present situation. I look forward to future videos on this topic. As for frugality tips, this one may be too obvious. I live in Spain where the economy has been stagnant for years and inflation has been especially bad in recent years. I follow the "grandmas/big family" tradition here of making big pots of healthy stews (lots of veggies and legumes) and that keeps 3 of us going for a couple of days at a time. It's also a time and energy saver. If you live alone you can break it into portions and freeze them.
Thank you for sharing so many wonderful ideas. I love how women have stepped up together to help each other with this conversation. Thank you so much.
There is a UA-camr who has a channel called, 'Spain on a Fork', I am vegetarian so love his channel, lots of good recipes. Even as I type, I am heating up a pan of home made leek and potato soup I made a day ago, and will finish off tomorrow. I by fruits and veggies, from the 'REDUCED' bins and then decide what to do with them. The reverse of shopping with a list, but it works for me. I also keep a very well stocked pantry to mitigate inflation and eliminate extra runs to the store for impulse shopping. There is always something delicious and nutritious I can make just by shopping what I have on hand at home.
Excellent video Margaret, important topic for sure! I bake my own sourdough bread for us (it’s $10 a loaf if I buy it from local bakery) and it costs me less than $1. Also very healthful with no added preservatives, none of the UPF additives. We also don’t carry expensive health insurance by choice, my husband is on Medicare and I have a clinic I pay $90 a month for. We also eat little meat, mostly veg and fruits. We are considering selling our house and renting too, someone else mentioned this. We own one car because there is no public transport in Colorado where we live. We like to travel and budget for it as we can. My husband is still working, but is a consultant so it is not regular income.
Thank you so much for sharing the ways that you save money. I really appreciate it.
We have always been extremely frugal our entire marriage.
So retirement wasn't a stretch, actually I believe we're making just as much, if not more now that we are retired (@ 60y.)
It can be done.
After my husband died, Social Security really cut me down. I live on $15.00 a week for food. Chicken and pasta, hot dogs and beans are my staples. For my electricity I turned off the dish washer, hang my clothes up in back bedroom instead of using dryer, turned off water heater, turn it on the day I need to use. Unplug everything that is not in use. Changed my car insurance, changed my phone company got a cell phone just the basics, cut down on cable trying to find someone to put in antenna and how to set up remote control then cut cable. Cut off all credit cards. cut the giving to church. Cut off giving to diffefrent places. Trying to look for a room mate now.
What it boils down to, everything would be a lot easier if you were a illegal immigrant.
That's how our Gov. takes care of his own people who paid taxes most of their lives.
But it's the same in Europe. I know because of friends and relatives there. People have
the same complaint. It's a shame that the politicians, with their rulings, are trying
to strip the old folks of everything.
I am not retired yet at 62 still working full time. My husband is 70 and still working full time. We married later in life and bought a house later in life. My mortgage is still high. My husband took his SS check when it matured and we have been preparing by paying down our credit cards (completed next month) If you take your SS check at maturity, you can work as many hours as you want and no penalty. This year we are paying at least 2 extra mortgage payments to the principal so to reduce the years of payments. This will help us with retirement. I have so many hobbies that I can use for my retirement which I am working on now. I think Preparation is the key before retirement. But if you are in a predicament, you could find a way to make money on FB or elsewhere. (Selling extra plants you grow, selling vegetables or herbs, selling on etsy, etc.) The possibilities are endless.
Thank you Margaret for the tips! There are a couple mentioned that I need to look into. It certainly is a challenge. Sometimes I feel alone in my frugal world, so this is so nice to hear what others do.
You were absolutely definitely not alone :-) happy that you were able to find some ideas for yourself. I think all of us like to live a little frugally so we can save for things that we really love. Thank you for sharing.
I color my grey roots at home and only get my hair cut once a quarter at the salon. I rarely ever go out to eat at a restaurant. Both are huge savings for me.
I left my home country and moved to a different country in order to live my best life on a fixed income. Being away from my daughter is the only thing I've truly missed. However, the state of the US is steadily declining so as a single woman, I feel much safer living abroad.
I am thinking about the same thing. May I ask which country you are living in? I'm thinking France.
@@CynthiaAva Mexico....I think you can only stay 90 days in France(180 days total in a 365 day period within the EU)....if you're from the. US, flights will be fairly expensive to France plus it's not all that affordable for someone on a limited budget.
single woman live abroad is safe? Which country?
Thank you for the video. I do live on a fixed income. I have only myself to look out for. I took early retirement at 63. I made a plan, i have a budget, and ive made it a tight budget. I live 20 miles from a major center and so must drive to get where i need to go. I shop for my needs. I garden in summer all my vegetables and friuts. I purchase my meat from a farmer which is my beef. I purchase other varieties only when on sale. In the fall i start to stock pile my staples so im able to cook good quality meals in winter so i dont need to drive much. I do most of my own home repairs, mechanical repairs, farm repairs this saves on costly service calls. My health is good so i dont have that expense. Ive lost many friends due to the fact that i live in the country but i provide my own entertainment. Ive always promised my self i would always have the basics. My house is paid for, have no car payment, ive taught myself to run my household like a business and keep my bills paid and dont spend on what you dont need. My wardrobe is minimal but can dress to the nines when i need to. Ive learned to cut my own hair and i wear minimal make up. I think of the future and have a few plans made if i ever decide to sell. I stay active and enjoy my life. Nature is all around me and provides me with inspiration to greet everyday with joy. Cheers Margaret enjoy your day and thanks again.
I have 3 dogs and 1 cat. I love ,y pets. I rescued 3 of 4. I just began making my own dog food! It is cheaper than the good quality canned food I WAS buying. My pets return much to me. Walking them keeps me in shape! They watch out for me too! The cat... well, you know how they are- lol she is the boss. I am single, grown children. 60 in few hours...yikes and excited. Second comment. Love this channel.
Making one's own pet food is a great idea, there are lots of healthy recipes online to help doing so. I also love my rescued pets. A bale of compacted Orchard or Timothy hay is now $35.00 a bale, and lasts my three rabbits a little over a month. But, their 24/7 manure production is wonderful the garden, and I can make 'tea' from it for my DIY hydropnic set I plan to assemble very soon for growing a hopefully huge, tomato harvest. At $21.00 for a bale of compacted straw that isn't cheap either. I did discover that pine pellets make great cat litter and cost a lot less than clay litter. A 40lb bag of pine pellet animal bedding costs me about $7.00, smells great, the cats don't seem to mind the change, and it saves me a lot of money. Better yet, would be if I trained them to use the toilet, some people do. Use, a litter box with a spare toilet seat on top, to get them used to using it, then gradually raise the height of the litter box, by putting telephone books underneath, and put it next to the toilet. The cats will then get the idea to just use the toilet when you remove the litter box and toilet seat set up. Don't ask me how to train them how to flush the toilet, I have no clue on that one!
@@sjordan7085 such rich feedback! I am now seriously thinking hard about the pine pellets! Cat litter is costly... I LOVE finding NEW and BETTER ways and this era of life I seem to have more focus on improving things. Thank you!!!
Happy birthday. Like you I have my pets. They bring me much joy
Happy 60th! 💐💖🛍️🎉🥳 Enjoy!
I spent my 60th living in car with dog, 2 cats and they sure made me feel loved! All 3 rescues. We are all in this together. Had to quit my job after 20 years and lost home after 23 years due to aging parent. Next was my health. All my loving fur babies have crossed over 13,16,17 and saving me a spot in our final home together.
I wish i knew what to make. I have two rescue pups and they eat more than $180 each month. Any ideas please share! Thank you all
Excellent points. Prompted me to check about property tax savings for seniors.
When eating out, ask if there is a “senior” discount. Many places do.
Ty!!
Please do check into local programs. I'm 62 and working full time in retail, this is my only income. I applied for only 2 of CO's programs and they accepted me in both. One was Energy Assistance, they'll supplement my heating bill, and the other is a Weatherization program where they'll put in insulation if needed, etc but what I'm excited about is if my furnace needs replacing they'll take care of it and my furnaceis 25 years old, I can not afford to replace it, it was a concern that I had. I never imagined that i would qualify. Make an effort and you may be surprised.
Hiring a good financial advisor in my 50’s was the wisest decision I ever made. We stayed free of debt in our working years. We lived below our means for a long time to have more now that we’re retired. Great advice to stick to a budget.
Thank you dear Margaret. It's good to know there are others in the world who appreciate life on a tight budget. Life is very expensive but we keep looking out for our blessings. God is good. Amen.
For toothpaste squeezer Dollar Tree has them $1.25.
For any liquid soap u can use some of soap in its ORIGINAL container, then just add water to same container!
I cut toothpaste tubes open and get many more teeth brushes before throwing away the container.
When I used lotions and body washes I cut those containers open and had many more uses left that couldn’t be squeezed out.
Yes, watering down where possible is very frugal, as is using a little vinegar to get the last drop out of ketchup and other sauce bottles. I buy big bottles of shampoo and conditioner, then transfer into smaller bottles so I don't get carried away and use too much. I also gather small bits of soap and put them in the plastic netting that comes with veggies. Waste not, want not! My daughter just rolls her eyes, at my frugality, but then, she lives on twenty times more than I do. Sometimes, she asks, "What's that for, Mom?" Then, a week, sometimes a month later, she will say, "You know the ****** you have in the gararge? Well, we are ready for that now! Funny how that happens! I bought a bike for my little grand-daughter in near new condition, and was told it was much too big for her, a few months on, and she is happily riding it. I saved my daughter at least $100.00, because I paid $20.00 for it at the thrift store, and it is a fancy Disney one with streamers on the handlebars. I have also prepped food and essential supplies for her family, because I am sure she won't do that.
I have been living in s studio since my 40's and ❤ it. I am 54 now and have the cutetest studio in Miami, Florida I won't move.
Thanks for sharing!!
And Barter ANYTHING u can make, provide, help with (baby/pet sit, light gardening/housework, transportion, aweekend meal,or evening for busy single parent, handyman/woman work) trade thus for ANYTHING u might need😊
I trade helping friends with their gardens and they have me over for dinner, really nice.
That's a really good point! Thank you for reminding me to do that. I really need to start sellng some of my thrift store treasures. Last week's haul was a tall crystal vase with a zigzag design, one similar sells for $195.00 on Ebay, I paid 4.99, it is thick high quality glass made in Poland by Koso. The other is a glass lotus shaped bowl, that sells for $95.00, I paid $4.99 for it.
@@elizabethforsyth3054 That's so kind and generous of you to help friends with their gardens. I am sure you are helping them to remain independent a lot longer by doing so. Paying a gardening service can be very costly. I remember that was the reason my aunt decided it was time to move into a Senior apartment, because she just could not afford to pay someone to take care of her large garden, and her husband had already died, when she became ill with cancer. You are a real gem to help others!
@@sjordan7085
Good finds!
I always wish I had wise counsel regarding my money! I have learned to be frugal...but I fear too late! I will be 60 in a few HOURS. I love your channel! As of now, I continue to work. Hugs
Wonderful. It is a fun game finding bargains. Read all the comments. I am learning so much.
Necessary topic Margaret!! Seniors centers are great, dollar trees, a good church for so many things!!!! Our church has a big Senior group who does many things to keep people active, provide help, and friends.
What you say, is so true. But, not everyone fits in with Senior Centers or going to Church, welcoming though they may be. I went to the local Senior Center for quite some time, took several classes, but ultimately decided it was not for me, mostly due to its political leaning, I did not feel comfortable. I am exploring other options, such as Life Long Learning which is offered by the local University, and provides a couple of free classes at various venues. One can also 'audit' classes at the uninversity for free. The Museum offers exhibitions, events and classes I am in the process of exploring. The library has Scottish Country Dancing as well as other kinds of folk dancing, and they also have a Repair Cafe, for small appliances, computers and other household items, all free. And, volunteering occasionally at the Humane Society Thrift Store is a way to make a friend or two.
I am living con a reduced income. I found a tax incentive apt complex with lots of activities. The tenants are responsible for them but use the community room. We have shuttle bus that takes tenants to shopping places.
Rent has increased each year but so far is reasonable. We have a small library. I use public library services and some free app for movies. I eat out twice a month budget permitting. Internet and phone are nessitiess. Shop at thrift shops or sales. Play cards a lot. Check out cheapest tickets to go to shows or theatre. College plays are good. Use free museums. Very frugal groceries and bring home take home sacks as much as possible. Socialize with neighbors, family and church members. Read, crochet, and card making are my hobbies. I am trying to use up my own supplies before I buy more. Once a while I get lonely but try to reach out to others so I stay busy. Like learning about the. Other parts of the world as my budget doesn’t allow much travel. Look forward not backward .
Thank you so much for sharing all this wonderful ideas. I know they will inspire others. I love the idea of looking forward, not back. There’s so many opportunities and many are free :-) take very good care of yourself. Thank you for sharing.
Good topic, but in reality you are where you are today because of the choices you made in your earlier life. In my early years I lived it up and had fun jobs, but when I hit my forties, I knew I had to find a job that offered a pension. I remained single and knew that meant I had no one else to fall back on. I did not have many of the things other people take for granted like dishwashers, cable TV and new cars. I managed to buy my first home in my early forties and that 864 sq ft house allowed me after 20+ years to buy my next 2 homes for cash. I saved diligently. When I retired I relocated from crowded expensive Florida to a location that allowed me to live very inexpensively. This post is I suppose more for the ladies who watch your show who are of a younger age. Prepare, make decisions now that will ensure you are comfortable in your later years, don't leave it to chance.
Thank you for your comment. You’ve done very well. Thank you for sharing your strategies and the importance of making good choices when you’re younger.
I would agree with you to a point, but there are still things that can happen in life, over which we have little or no control, that can easily 'throw us off the rails' Consider the folk who lost their homes in the California wildfires, or floods. My home in the UK was flooded twice, and cost an absolute fortune to renovate and restore. Insurance doesn't cover everything, sometimes, very little. If one is unable to put insurance on a property it is often difficult to sell. Never -the= less, life must go on.
Thanks Margaret, this is inspiring me to deal with some things, looking into upcoming medicare facts, and start further planing for the future, instead of burying it, where it will come up sooner or later. 💖
We moved out of NY City to a state that has no state income tax and very low cost of living. This is what made us save so much money in the long run. Recently my daughter and her husband moved to midwest from MA and found as a young couple they save so much money every month on taxes, and monthly expenses. The big one is car insurance and food. For many in later life moving is hard but this is a great option.
I did the exact same thing. My cost of living has dropped by 50%. I am now mortgage and debt free. I can cover most of my expenses with a small part time job.
I don't miss my previous home state and love where I am now.
i hope you realize how useful this information is--ty margaret & everyone in the comment section
one day we were living life large in a big american city...husband got sick, then fired. we moved in with his mom. it's a disaster.
Sadly, even with our best plans and intentions, life has a way of making us take a step or two backwards. sometimes, often through no fault of our own. For example, theft happens to older folk, when we are seen as easy pickings, and happens within families more often than one would expect. Be cautious in choosing moving companies, sometimes things 'go astray'. Nothing one can do if it happens between countries. Natural and man-made disasters, such as floods and fires, are sometimes, very difficult to recover from, even if one has insurance, not everything is covered. Having a stash of Food Preps is essential to mitigate inflation and shortages, very handy during illness and/or job loss.
The old saying, that two can live as cheaply as one, is really true. As, we become older, and women tend to live longer than men, many older women find themselves alone, some are single or divorced, resorting to living on small pensions that were never meant to supply all our needs.
Making use of Senior Discounts for utilities, bus transportation is free after a certain age, property taxes, and many other discounts can help. In America, Ooma phones, cost little. I pay $7.00 a month approx. for my house phone, can call anywhere in the US, and I think Canada and speak for as long as I wish for nothing extra. Requires a special modem, but can be bought used for about $20.00. A friend saved more than $60.00 a month by using Ooma. Trac phones are free cell phones, and come with a free computer if one is low income look online to get one. No monthly service charges for either.
A State Disability Placard for drivers offers free parking at quite a few places, I am thinking of Wa. State Ferry parking which is free with a placard, $14.00 a day without, but other places too, and makes life a lot more convenient, during and after injury or serious illness. There are discounts of 75% on water/sewer bills for Seniors in my county. The Senior Center provides yearly vouchers to local Farmers Markets every year, just fill out a form, no documentation required. $80.00 worth of food is better than a kick in the pants! Some folk like to go there for activities and free meals, I am not a fan. National Parks and some Museums have special days when one doesn't have to pay. Keep track of such offerings, because they add up. I am thankful to live in a house that is in good condition, and thus use little heat or energy due to excellent insulation. Drying clothes outdoors isn't always possible, but can do if the weather is dry.
Health, and financial issues are certainly a constant concern as we age. I never thought my life would turn out this way, even with careful planning. Today, I called Care Credit, to see if I could spread the cost of my dental care over two years, interest free, and discovered I can. That will be a great help, as I need a new gold bridge as well as a worn crown replaced. It will also mean pulling the purse strings even tighter as I pay it off. But, I am grateful going to the Dental School costs quite a bit less than going to a local dentist for quality care. I manage to get by, but it can be a struggle sometimes. Need to focus more on generating income from selling my treasures.
Thank you for this very relevant topic, Margaret. YES, it is challenging. I'm in the States and, where I live now, rents are ridiculously high. I have the challenge now where my son wants to move to a different state, and, I go, too. But, I have a (semi-estranged) daughter here and my two older grandkids. So, I'm feeling uncertain. I know she will resent me even more. As it is, she stopped speaking to her brother over two years ago, which is heartbreaking for me and for him. Prices are absolutely outrageous here, though..from rents to groceries, even toiletries. I buy what I can from the dollar store. Nothing fancy. With makeup, I've been decluttering, and, since I wear little, I've been "shopping my stash". Using what I have, and, it's enough. The economy is a disaster everywhere, and, I know that for many of us older women, the struggle is REAL. You are a lifeline and source of wisdom for us. Many blessings to you and prayers up for us all. Rosemarie ❤️
Let your daughter be free. Move with your son and let your life be free too. Be the good example to your grandchildren. Maybe she will decide to join you when she sees how well you live with lower costs. Write and send cards so she doesn't have to cringe on the phone. Write to the kids for contact too. Daughter must make her own decisions to be happy or not.
I would also suggest you move to a less expensive area.
May I suggest you talk to your daughter directly and explain the financial reasons you need to move, at least if she is still angry you know know who did your best and if it’s better for you financially then move with your son. Just make sure to stay in contact with your daughter & older grandchildren and make it clear that no matter where you live you will always be there for them.
Hello Margaret, I live in Australia on a fixed income in my own home. It's still hard. The way I pay my bills is each pay I put divided amounts away to add up to the total amount on time.
Thanks for sharing!
You are such a beautiful wonderful woman Margaret
You are so positive about life you help me through my day.
Keep up the good work, the world needs more people in it like you
From a Geordie subscriber 🇬🇧
Thank you so much!
Thank you so much for this video. I feel you really are understanding and so compassionate. I have felt such a failure for not making sure I had enough money for future years. I always helped my children with grandchildren and setting up their homes etc but now my health is limiting my abilities. I have decided to do some airbnb and see how it goes. The next option is to downsize somewhere I would love to be, a studio by the sea or something... that way I don't have to pay to see the sea! I really appreciate Sixty and Me, thank you again.
Please do not feel like a failure. You’ve done so much and everything‘s going to be fine. Thank you so much for your kind comments about 60 and me I treasure you in my life. Thank you.
After my son left home and I needed to take early retirement for health reasons, I downsized from a 3 bedroom semi-detached house to a small 2 bedroom maisonette ( I think that might be like a condo in the US) It is like a flat/apartment but you have your own front door. I have a lovely panoramic seaview which I have always wanted. Downsizing was difficult, but I recommend a smaller space with a wonderful view when we get older, as we are home more and appreciate the smaller things more too. All this to say that you could look into getting a seaview too.
To me it is a success to help the children succeed. Give and it shall be given unto you, Jesus said ......
I don't always read the comments. I did for this video, and I must say that I am truly impressed! The folks really came through for you, Margaret. There are so many good ideas here.....some I hadn't ever thought about! What a great community! Thank you for tackling this subject....it is not an easy one to deal with....and thank you for all the compassion you have for us older women....and all women....it shows in all your videos.
Thank you Sharon :-)
Thank you Margaret for this informative video! Some of the best ways my hubby and I save money is definitely by cooking and eating more at home. Restaurants are so expensive here in Southern CA. We do like to eat out on special occasions and lunches, but try to stick with more reasonably priced restaurants. It helps! Also you mentioned having a financial advisor. We hired a wonderful man that has helped us budget our finances long term. Richard is worth every penny and has earned us thousands of dollars in the past year.
Sounds like a scam post.
We’re becoming more & more careful re: spending $$. We’re in a paid off small home which works well for us. Very budget conscious all the time. Great topic thanks so much for delving into this.
Thank you!
Yes I appreciate your comments. My husband passed away and I had to wait till I was 60 to get your Social Security and he had some union benefits but they’re not that much. I have a two bedroom apartment. Rent is gone up but for now I can pay it I’m wondering if I get any older I don’t have family that’s going to help me out if I got sick I need to keep going. I have arthritis in my hip. I’ve been trying to start walking again. I don’t have long-term care insurance. I don’t know what you think about that but at this age, it’s probably too expensive to to afford, thank you for your time and for posting the things that we think about when you get older, I’m 70 right now from South Dakota❤
You are so welcome. If you are truly on your own with no children or relatives, I suggest you take a look for Facebook group by Carol Marak . She speaks very specifically to the situation that you find yourself in. I wish you well. Take good care of yourself.
All states in the US have SNAP. Its just the new name for food stamps. Just found your channel and love your presentation and content. Thanks. I am 76 and am fortunate to live in a subsidized elderly apartment building. Every little bit helps.
Good morning Margaret, well I am not proud of this. my husband and I divorced and stayed together to share expenses. I had been married many years before to someone else and I was entitled to the ex's widows pension but only if I was not currently married. It was the only way that either of us could make it financially. We did this in 2016 and it works for us. It is not ideal maybe but it does work for us.
Excellent Idea, and many need to consider this when they marry at older ages reference impact on their Social Security or other benefits from past spouses.
Sometimes, we all have to do what we have to do, there is nothing to be ashamed about in doing so. As I see it, it is just being practical, especially when funds are very tight. Even though one plans for retirement sometimes things happen that are beyond our control such as illness, and natural and/or man-made disasters. Insurance doesn't cover everything. And, it is true what they say about two living as cheaply as one, one still has to pay about the same for utilities no matter how careful one is. Things like heating and airconditioning cost the same for one person as they do for several.
Gee, that is so sad. Who makes up these silly rules?
Please don't feel bad. You are entitled to your ex's pension by virtue of the fact that you were married to him. It very much sounds like you and your current husband/partner are committed to each other. That's what matters.
I live in the UK and live on a low income. Im 69 and have started living a minimalist life style after watching a UA-cam video. I paired down everything in my rented flat and just kept clothes I really feel good in. If I buy anything new I look for quality items in the sales. I used to buy loads of jewelry but now wear a nice pair of gold or silver earrings. I used to buy items from charity shopd but they dont get quality donations now so not worth it. I bulk cook and freeze meals for a month using home made bone broth in my cooking. I make kefir and this replaced buying yoghurt. I check my diary every week and work out if I have any expensive things coming up like birthdays and I dont arrange any lunches that week and try to do a few walks and just meet a friend for coffee. Ive been going to the gym for 7 years so I felt this was worth it as I go 4 times a week and I enjoy the time I spend there. I have a small car which is inexpensive to run but as a pensioner in the UK we get a free bus pass and can go anywhere with this...its been good as it relaxes me as I enjoy the scenery. I just use my car when I need to. I have lots of other things I do but the list is too long x
Great post Eleanor. You are a good organiser!
Eleanor -- you're spot on about the quality of donated items having deteriorated. I'm 69 too. Moved to USA from England, and am now planning to return to my homeland. So sad UK is following the USA norm of materialism and having excess. I've always loved used/vintage household goods and clothes, and rarely felt the need to buy new at a huge price. I am so glad I amassed my clothes, etc several years ago, and virtually the only thing I shop for is food, and my medicinal eye drops. Love books, and those are from thrift shops or used booksellers. Never been one to follow fashion or home design trends. Love my tiny space even though I grew up in a large home, but never yearned for that in adulthood.
@@lanialost1320Do think long and hard about where you Will move back to in the U.K. Go for a rural área or small village. Much has changed in the UK and not for the better. Same in Ireland. I am Irish btw.
@@lanialost1320 I live in a small flat for mature people. It's an extension on a big 1920s detached house with my own front door plus a small complex of bungalows within its own grounds. I love it like you do yours. I'm just grateful for the time I have now to just be me.
We have retired and are really noticing the cost of everything... 5 years ago we moved from the expensive country town to a small seaside town to a 161year old cottage.. we renovated the house and made a home... friendly people and relaxed inexpensive lifestyle. Luckily we don't owe anything on our home and no debts.. I think it's really important no to owe money and live carefully... we don't go out for dinners etc and I cook baked good from scratch as well as all our meals at home. Thankyou for a timely reminder about living within your means..🎉
So important. We boughtin a lower income neighborhood, but have a big yard and good size home. Many did not understand. Also, we do our own repairs as well as cooking, some gardening etc. Have enjoyed low property taxes. So glad now that we are older.
I am almost 62, divorced for 4 years from a man that ruined me financially. I am barely hanging on. I am a house mother at a maternity home making $15 an hour.
Some things i do to make ends meet:
I took in a 20 yo seminary girl as a housemate.
I put large 1/2 gal mason jars in the toilet tank to reduce water used with each flush.
Wash my clothing with cold water
Capsule wardrobe from thrift shops
Toiletries and food come from out dated products where i work
I keep my food waste to a minimum
I color and cut my own hair-and i get compliments all the time!
I caregive for elderly
I do clothing alterations as side gig
I meticulouly meal plan to have balanced low cost low waste food
I buy no christmas or birthday gifts for anyone but my two preschool grandkids
I run myself ragged using good rx to get the lowest cost prescription
I dont use paper towels or tissues
I have a $35 limted phone plan
I use drug store makeup
I use store brand groceries with the exception of 3 things
I take meticulous care of my belongings
I have sold 80% of my household items
I limit how warm/cold my house is or light usage
I no longer send Christmas cards ( kills me)
I no longer send flowers or food to bereaved-they get a sympathy card
I dont go out with friends unless it is for a walk or lunch at my house
I dont cook new dishes or any that require new spices that i might not like and be stuck with.
I portion control and freeze meals i cook
I dont buy toilet paper
I use cash 99% of the time
I live, work close by so i only put about 50 miles on my minivan a week
I had to rehome my 2 cats (my son took them)…i couldnt afford the litter and food any longer.
I dont drink alchohol. My one vice is a daily diet coke.
I keep frozen milk jugs of water in the unused portions of my freezer and refrigerator.unit doesnt have to work so hard to keep dead air cold. Close my insulated shades.
I shop at fewest retail stores as possible because the more i go to, the more im tempted to spend. Ie Dollar Tree
I do grocery pick up at walmart because i know exactly how much i owe and if i need to take some things out of my virtual cart.
I buy frozen bagged vegetables at wall mart: broccoi, calliflower, brussel sprouts, onions, fruit. No more waste.
I eat 2 scrambled eggs on piece of walmart bread toast daily .50 breakfast that keeps me full until lunch.
My entertainment is church, visits with friends, free community activities
I get every drop of shampoo or lotion out of a bottle. If i get a shampoo i dont like, i use it as hand soap. I unwrap my bar soap and let it dry out for several weeks because a dry bar doesnt melt like a moist bar.
Each item of clothing i own probably gets at least 200 wearings. I have a very small wardrobe from goodwill and walmart.
I dont shop at amazon-too tempting.
I do invest is all purpose greeting cards from dollar tree to send congrats cards or notes of encouragement to people.
My insurance policies are bare bones.
I dont know what more i can do. I was a stay at home parent and didnt thing i would be on my own at 60 and destitute. Im open for any ideas.
I was married 34 yrs and two yrs ago my husband suddenly passed away. We were only 54 yrs old. He was retired military (US Army) and I had been a stay home mother and never worked. He provided well for us because we did not live outside our means. But when he died suddenly I lost our home and his income. I bring in half his military retirement at 1390.00 a month and that is it. I will be able to collect off his social security in 3 1/2 yrs when I turn 60 but for now I am struggling in every way imaginable. Thank you for some helpful tips and reminders. I have cut back and cut out on basically everything. But you gave me more ways I think I can cut more expenses. Keeping you in prayer. I know we will be ok. We just can't give up! Blessings.
You really don't buy toilet paper??
You may be entitled to Social security from your ex benefits
Did your ex ever make more than you?
If you were married over 10 years, even if divorced you can get part of his SS
I started selling extra clothing on eBay, I've sold quite a lot and it declutters at the same time. I always cook at home, make my own coffee. I recently started making homemade dog food for my two dogs, (there is really cheap meat for sale at Aldi). 🐶🐶 Dogs are happy!
Selling clothes is becoming quite the popular way of making money. There are some other online groups than eBay now too that you can use. You’re doing some great things wish you well.
Thanks For a very useful video. ❤
This is good..
To do while still working -
*Pay your mortgage off. Necessary!
*Choose health insurance with an HSA. Max it out every year. Use it for medical costs in retirement. Triple tax advantage!
*Track all your expenses with the Every Dollar budgeting app. Plan where every dollar will go.
*Downside your living space.
*Shop for groceries at lower cost stores like Aldi. Give up your addiction to name brands.
*Sell your car, depending on where you live. I drove a golf cart and rode my bicycle. Uber when needed for further appointments. Lowers insurance cost.
*Move away from HOA. Cheaper for you to hire someone to move your lawn.
Hi Donna. Thank you so much for all those great ideas really thought through and I appreciate you sharing.
I make my own laundry soap, coffee creamer, apple cider vinegar, dog food, and a number of other things. When I think to put it on the grocery list I look up to see if I can make it. When you make it yourself, you know what is in it, it is almost always cheaper and funny thing you can make the amount you want to have. The laundry soap is great cause it is washing soda, zote soap and borax. My neighbors boy suffers from allergies and this soap works for him, no perfumes, filler or additives.
You should start a UA-cam channel with Leone. Wonderful ideas. They’d be very welcome and popular but seriously you’re doing a great job of making things work and I’m proud of you.
I think that's a great idea. One of the advantages of retirement is that we are time rich and can do those things.
Great ideas.. thank you. 😊
I wish you did a video on it. Maybe you can start a blog. I would subscribe. 😊
@@californiaglo9666 I learned now to make bone broth from "Mary's Next" she has tons of things you can make. What I do is on the internet I put it making coffee creamer and all kinds of things just pop up. The lundry soap the same say. I have a lot of time and I spend tons of it sifting. I had my flame in the 2000's I was a Hawaiian radio broadcaster that was wondeful....thank you for the complement.
Good topic! I'm now 70 and we prepared in advance. Downsized to a much smaller home (not the home of my dreams) but so much less expensive in an area with lower property taxes. I now appreciate less to clean! I try to tell my friends that they need to be in a position to pay for their cost of living in the event their spouse dies and they lose that income. People don't think about that! I'm always joking that I'm going to live to be 93 so I'm not touching my pension now, I'm just letting it grow so that I'll have that money to live on into my old age! Thanks for all you do Margaret!
I did the same, I downsize to a smaller home in a lcol with lower property taxes. Best financial decision I ever made. I was able to retire in my 50's as a result.
You reminded me of friend of a friend, an elderly gent, who has mindfully repaired every aspect of the home he and his wife share, so that when he dies, his wife will not have to contend with taking care of dealing with repairmen. What a thoughtful gesture on his part. I have to say he can well afford to do so, not everyone can, he is a true gentleman. He was a General in the US Army, but calls his wife, 'The Queen', and believe me, he treats like one!
Hi Janice. Wonderful that you thought ahead and are preparing for a long and healthy life. Take care of yourself and have a wonderful wonderful weekend.
Thank you so much for this much needed information. I love the idea of food sharing. I love to cook and meal prep. Groceries are so expensive and that is a great way to eat healthy, share friendship and fellowship. This could cut down on food cost and waste.
I look for bargains on healthful food. I cook it immediately .Then I try to share some, especially with busy young Moms or seniors. As Christians we trust God and tithe.God returns it some how.
In the past few days we got in expected tax money back, a widow brought us fruit , my husband was given a gift card for some favor he did, my daughter bought me a dress, I won a box of good chocolates in a silly game at a Sr lunch.
God daily loads us with benefits!
I worked full time as a Registered Nurse for 38 years. I was a good saver. I live is a large home that I own. My property taxes are $6200/year. I waited until 66.5 to start Social Security benefits. I have a small pension. I work approximately 7 hours weekly in retirement teaching parent-assisted swim classes to babies and tots. I live a very conservative lifestyle, but still have to avoid some desired things in order to make ends meet.
Great video! We have to get past reluctance to ask for help! I discovered this week that my doctor could refer me for free physical therapy! I also recently got cash back credit cards and every bit helps.
I set my thermostat to 62 in winter and 81 in summer. I eat 2 meals instead of 3 a day. I never eat out or get take out, I cook all my meals at home. I save my eat out money to go out with friends and socialize a few times a month. I try to do a lot of free activities, like lectures at library and free concerts. I mow my own lawn. I think owning a home is expensive but I think rent is even more expensive. When I was working, I had a budget all worked out and the year I retired, inflation hit (2022) and it costs me about double to live now. I really don't know how people live on ss alone. I would have to live in a car if I had to live on ss only.
Thank you for sharing that you live in a one-room studio. You are truly an inspiration to me that you choose this and manage it.
I live in Australia in a 3 bedroom house. I’m single and keeping my options open to downsize, however it is not easy because I like being in my house, even though expenses are difficult for me.
Thank you for your videos.
Rose
Melbourne, Australia
You are so welcome!
Biggest things are 1) subsidized apartments and 2) learning and fully accepting totally minimal living inc doing very cheap (a dollar or two) things or even better-free things. Mentally challenging yourself to enjoy living with as little as possible.
I find it helps to think.. im not going to waste anything or buy anything i dont actually need. Downsizing means less housework and less to worry about.
NY has an office for the aging. They have housing for seniors. They also have programs that give free or low-cost lunches and various activities throughout the day. They have delicious, healthy and economical recipes online. Every state has a website with recipes from their WIC or SNAP agencies.
No matter how carefully you plan, an illness can wipe you out. It’s scary.
Budgeting is key for me. I survive almost exclusively on social security. I’m lucky to have nice, subsidized housing relatively close to family. By tight budgeting and giving every dollar a job, I’m able to incorporate some “luxuries” that make life more enjoyable. I try to save enough to have one small vacation each year. In order to do that, I don’t eat out through the year and I’ve learned to eat on a budget at home. I also allow myself a certain amount of money every month for art supplies because that helps keep me entertained and fulfilled. Another priority is a bit of money set aside for monthly play dates with my grandsons. Being able to take them to a movie, the bookstore, to play putt putt not only serves as entertainment for me, it strengthens my bond with them.
Well, Margaret, I live in Massachusetts. It’s one of the most expensive states to live here in the US. We were born here. We live frugally, but the inflation over the last 3 years coupled with a state government that spends more than it has increased our living costs by 10,000. This is significant. We won’t move away from our only child and grandchildren. We cut wherever we can, but are spending down our modest savings faster than we should. It’s very scary now. Only the very poorest qualify for the benefits you stated. If you have even modest assets, forget about it. They want us dead. We are in the way.
Hi Andrea. Thank you for sharing. I really do understand what you’re saying. If you’re in that middle category trying your best working and saving what you can. There is not much help. It’s really frustrating I know take care of yourself.
We're in Mass too. Bloated public service budgets to keep the bureaucrats in clover. Rest of us get fleeced for every dime, and very meager to non-existent support even if you're scraping the barrel.
I tried downsizing, but I live in the UK, where flats are part of a leasehold. The lease owners have been increasing maintenance rates to a point where no one can afford them and those who have already bought these properties are trapped because they can’t sell them. The leases on the properties I was looking at were so short, it was an unknown future cost I couldn’t risk. I’ve decided to stay where I am. At least I get to decide what maintenance I choose to do. on my 2bed house. The car will probably have to go in a couple of years when I reach 70 and the insurance will skyrocket, even though I’ve never made a claim in my life. I’m constantly adjusting my expectations.
Thanks for bringing up this topic, Margaret. Luckily, my husband (now deceased) and I planned for our future starting in our 30s by opening up IRAs when they first became available and joining the plans at our workplaces. I’m now 77 and consider myself fortunate to be able to stay in our mobile home in a 55+ park in the Santa Ynez Valley in California. I have looked at income and outflow and most months my income covers my expenses. But I just had to have a bone marrow biopsy (I’m ok, btw) and between the hospital and various providers, I’ll be out just over $1,000. And yes I have Medicare and a supplemental plan. This is definitely not covered in my monthly income and I’m not sure how one could budget for that, other than to pay the bill off in increments. Ah, lightbulb moment…..that’s what I’ll do!
Thank you so much for sharing your story. I hope that your health continues to be good. One of the most important things. Take good care of yourself.
@@sixtyandme thank you so much, Margaret.
My 60 year old SIL just had a hip replacement and while they had insurance it did not cover about $5,000. The hospital let them make a down payment, and then pay the rest off at a workable monthly amount.
Your videos are GREAT! But I say your hair looks GORGEOUS, fluffed out. Gives you a younger look! Love you! 🤗😘
Thanks for this subject ❤❤❤
Margaret, such an inspiration to so many. Thank you. Reading all the comments, I’m so grateful to be living in Australia, although cost of living and lack of housing here is a major issue. I fear too for the future of our up and coming generations as the great Australian dream of uening your own home will probably be that, just a dream. I’ve housed my daughter and 2 grandchildren for minimal rent for 5 years now but she has asked if she can save a deposit for a house. I have agreed but think the prospects of this are probably not realistic. I’m currently assessing my budget again and think I’ll need to pick up some work to enable her to attempt to do this. Thinking if she does move out then downsizing is my best option too. Valuable information gained and I look forward to the next instalment. Blessings to you all
Re housing costs/sharing a house I advise friends to consider turning the master bedroom into a bedsit/studio. Many can access the outside directly so you are not living together but renting out a separate unit. I save 10%, no matter what. I have a neighbour with income of less than $700 and she can do it so always has an emergency fund. I notice in US people are on so many medications with absurd costs. Most are of no value. Spend that money on real food and your health will improve.
you are such a dear and I agreed with your comments today…sadly many people choose entertainment over knowledge and don’t keep up
there should be places elderly could get advice
there is so much seniors don’t seen to know about…… insurance, diet, money, relationships unbelievable
I would work with a group who would be comfortable providing of that info ……
Yes, being educated about options is so important. I appreciate your feedback. Thank you.
Not all fixed incomes are low. We can save and invest and have a very comfortable 'fixed income'👍
I love your desire to help others during the transition in retirement and living their best lives now. I know in Wi there are many services like those you outlined in NY is also available. Maybe asking some of the elders in one's church, or within their communities to see what others might be aware of them. Lots of things to worry be concerned with all over the world.
When I see paper products or household products I buy when on sale…..
Taking care of a disabled husband homebound. We are in an apartment. Fortunately he is a veteran and that helps so much. We have a 2014 Honda paid for. 79000 miles bought when 3 yrs old and had 36000. We are a bit better now but still careful.