Tips for Living on $60 Per Week in Retirement

Last update on: Mar 14 2020

A CNBC reporter decided to see if she could live for two months on $60 per week, after her fixed expenses. As a progress report she offers these five strategies on enjoying your life while spending less. It’s all good common sense.

One thing I’ve noticed is that, regarding money, today’s young adults are more like their grandparents or great grandparents than their parents. The generation that lived through the Depression was very frugal and conservative with money. The Baby Boomers have been quite the opposite. There are a number of web sites directed at young adults that give detailed strategies on saving money. They update for today the strategies people used to make it through the Depression.

When you have to stick to a tight budget, I’ve found that ditching your plastic for bills can make a world of difference. I get a better idea of exactly how much money I’m spending and how much is remaining in my budget.Plus, there’s something about physically handing over bills and watching my money disappear right in front of me that causes me to value it more.

Withdraw a predetermined amount of money for the week and commit to spending only that amount. Leave your credit cards at home if you’ll be tempted to swipe them. It’s impressive the different it can make.

 

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