Retirement Budgeting

by Julie Grenness

This is our noble and essential planning, retirement budgeting. But in the past little while, all our best-laid budgets have been tested. In reality, petrol (gas), food and drinks have increased by over fifty percent in price.

As I am a retired older lady, I drive a suitable car. It is neat, sweet and petite. It can be considered totally economical. We are all now shuddering at the bowser (gas station?). Lots of people my age now rethink unnecessary car travel. Personally, I plan to do several tasks on each trip.

Fuel prices have soared since the Ukrainian armed conflict. One friend told me yesterday that she and her husband now only travel once per week in their larger car. That is all they can afford.

Gone these days are their Sunday drives across the suburbs to visit their family and grandchildren. Her husband drives once per week to do the supermarket shopping, and she travels weekly to our craft group at church. That is it. I wonder if we should have free public transport here.

The supermarket this week has been a little shop of horrors. My circle of quality friends are all remarking on the price increases. One male phone buddy complained that even a tin of dog food for his pet had doubled in cost.

Budgeting in retirement today is a concern for us all. Two friends of mine are trying to sell their caravans. Being a grey nomad is no longer realistic or affordable for them. Not many of us dine in restaurants anymore, and have cancelled Uber eats. All too expensive, and made us fat.

These are trivial first-world non-issues. Some retirees are ‘into’ growing vegetables, and breeding backyard chickens, aiming for sustainability. Others are working online at home, doing zoomers for boomers.

These days, retirement is a challenge due to the rising costs in daily living. We can cook lentil broth, and focus on what we can afford. At least my old jeans now fit me again. Reuse!

Retired people no longer browse around shopping centres, looking for bargains. Indeed, some of the population are heading to pawn shops to access cash.

So far, the retired folk are still here, reining in spending and approaching hermit lifestyles. How are you budgeting in retirement today?

Comments for Retirement Budgeting

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Appreciation note
by: Ruth

Thank you for the work done. The war has affected us so much financially and we thank you for coming out with the issue of Budgeting.

I used to take milk every day but because of the hiking prices, i stopped. This is the time we should revise our budgets and consider the most important things to continue with as we wait for the right time when things will normalise.

Cut cost where you can but don't forget to LIVE
by: Michael - Warm and Sunny Venice Florida

I feel the pain at the pump and the grocery store too. I am thankful to have enough cash to pay the bills.

My husband and I don't eat out - so there is no need to stop visiting restaurants and cancel food deliveries. We shop at discount markets, but even those are getting expensive. Make your own meals from scratch. Don't buy prepared foods. Buy store brands. Buy items when the grocery store has the items on sale. This is the way I always lived.

If you car is in good shape, keep it as long as you can. Both my husband and one of our neighbors decided recently to repair their 13-year-old cars vs. buying new. Plus, new cars here in the States no longer have CD players!

Combining trips and buying more to make fewer trips can also be a great idea. We used to buy 3 gallons of milk at a time, but I've increased that to 4 gallons in order to extend the time between grocery trips.

Ask the family member who can most afford the petrol to come and visit you. Make the trip to see them when you can afford to do so.

My family lives 1,400 miles from me, so I don't see them as often as I would like. The joy of seeing family and friends, and receiving a hug from them, far outweighs the money I would spend on petrol.

My Nana used to always say "don't worry about coming to my funeral - come see me when I'm alive." Spend your money on petrol and see your family and friends.

In the end, you can skip the fancy casket and get the pine or cardboard box.

by: susiesunshine

Thank you for the comment. Well, I haven't changed anything really.

I haven't had a car is about 10 years anyway. Instead I carry a weapon on mass transit here in Portland. I have been accosted 3 times in 2022, but no great damage.

I have a daily $1 coffee at McDonald's, getting my steps in going there and walking back. I had medical issues, and that has been an expense.

I am dwindling down what I will be able to pass on to my children. That is disappointing, but unless on this site has an inexpensive home for sale somewhere outside of Oregon, that is what it is.

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