How To Downsize Your Lifestyle Painlessly In Retirement
It’s very common for someone to enter into retirement with a clear prediction of their yearly expense, only to realize that they estimated low. In fact, according to some surveys, about two in every five retirees usually spend more money than they had predicted when they entered retirement. This could happen as start to venture into new things such as travelling frequently, taking on some new hobbies, or due to some new ideas such as renovating your home that you had not foreseen. Downsizing your lifestyle is one of the steps you can take to get Medicare supplement plan F 2019 reduce your spending and avoid the possibility of dipping your savings. Here is how to downsize your lifestyle without feeling like you are losing a part of you.
- Travel mindfully
Maybe you have a very long list of countries or places you want to travel to. Before you book a trip, compare seasons and prices. You could find out that one airline charges relatively lower prices that the one you prefer using. You could also find out that visiting a certain place is less costly during the low season. Alternatively, you can decide to reduce the list of the places you would want to see. You can also take only a one annual big trip instead of travelling many times a year. This can help you spread out your travel expenses.
- Cut what you are not going to notice
Another way to downsize your lifestyle in retirement is to get rid of landlines you don’t need, television channels you no longer watch, and magazine subscriptions you no longer read. After that, review all your current plans as well as costs. Consider signing on for a less-expensive television service or cell phone plan. In case you have more than one vehicle, ask yourself whether you actually need all of them. If not, you can remain with one and let others make money for you by registering them with companies such as Uber.
- Eat at home
You could have been a frequent customer at some of the most popular food joints. In more often than not, eating out tends to be more expensive than eating at home. So, one way to downsize your lifestyle in retirement is to start cooking and have meals at home. Getting back in the kitchen will greatly reduce your food bills.
- Big is not always better
If you are staying in a five bedroom house, ask yourself whether you really need all the rooms. Whether you are staying alone or with your spouse, the house you are staying in could be too big for you. Consider moving to a two-bedroom or three-bedroom house to cut on rent and electricity bills.