Taking charge of day-to-day expenses in retirement is extremely important, and we are always looking for ways to manage costs, while still enjoying this new chapter of our lives. The following 5 simple and straightforward ideas are a good starting point for using your flexible schedule in retirement to save both time and money.
1. Buy a box of haircolor and color your own hair:
Coloring your own hair in retirement will save you money, and give you the opportunity to multi-task as you catch up with your reading or podcast listening, as well as doing some light exercise!
Over the past 3 years that I have been retired, I have been looking through the Sunday papers; and when I find coupons for haircolor that I like, I will buy them and color my own hair. I will admit, that, for the first 2 or 3 tries, I did miss a few spots, and the color did end up on my bathroom door more often than I would like to admit. However, with more practice, I am now able to color my hair almost like a pro; and I have found a secluded area above my basement steps where I set up my portable, long mirror, foldup chair, and get to work. When the weather cooperates, I use my backyard! The results are truly excellent, and the amount of money I am saving by doing it myself is significant!
While the haircolor is setting, I catch up on my reading and podcast listening. I also walk on my treadmill, slowly of course, since I don’t want to get any color in my eyes. Wearing a protective cap will also help with that.
So, if you cringe at your haircolor bill from the beauty salon, use some of your newly acquired flexible time; and think about coloring your own hair! It may not come out perfectly at first; but with practice, you will be pleasantly surprised at the money and time-saving benefits that you will receive!
2. Dig Deep into the Recesses of your Closet!
One of the more mundane, yet important things that you can do in retirement with your newly acquired flexible time is go through your closet. You will not only find things that you may need to discard, donate, or sell; but you may also find clothes that you purchased a while back, but totally forgot about.
While I was working, I was constantly buying new boots to wear; however, I ended up storing these in the back of my closets. Since I was in such a hurry in the mornings, I would simply grab whatever was easiest to get to, which was usually, in the front. And, I would continue to buy more boots!!
Now, in retirement, I have gone through all of my closets, and have found boots I have never worn! So, I now have brand new ones to wear, I know exactly what I own, and I don’t have to go out and spend money on things that I don’t even need.
If you want to be sure that you don’t continue to purchase items that you already own and that you may not have even worn yet, take a really good look at your closet! You may discover a lot of pleasant surprises!
3. Use your Local Library for Reading and Activities:
I stopped buying books a long time ago. I love using my local library, and now, in retirement, the library is so much more than a place to take out a book. It is a multi-media and activity-based organization, where you can take out both hard copy and E-books, as well as audio and visual media. Prior to COVID, my library was hosting presentations, as well as yoga and exercise sessions in-person; now, these are being done virtually. During COVID, the Library truly became a lifeline for people who were looking for opportunities to expand their minds and keep active, but were not able to engage in-person. My more flexible schedule has now enabled me to participate in more activities that take place during the daytime, which is an option that I did not have while I was working.
As my local taxes support my library, I was thrilled to be able to participate in many of the options that were offered, and I am still actively requesting books and audio materials. I would strongly urge everyone to avail themselves of all of the opportunities that their local library has to offer. It’s a great way to expand your body and your mind, as well as meet new people, whether in-person or virtually.4.
4. Buy a large-sized container of Coffee and make your own in the Morning:
I truly had coffee sticker-shock several years ago, when I was using one of the coffee purchasing apps, and discovered that during the summer, I had racked up $500.00 in iced coffee purchases! While I was working, I always bought my coffee at a gourmet store that was in Penn Station, or while on the way to the office. I never made my own coffee while I was working.
Fast forward 3 years into retirement. I now buy the large-sized coffee containers and make my own coffee, to my liking, on my own schedule. I know that I am saving a lot of money. From time, to time, I may purchase a cup of coffee at a local gourmet store, but I consider it more of a treat, than something I do on a regular basis.
If you are curious, buy a can of coffee and try making your own. You may like the results of saving some money, as well making the coffee to your own specific taste. And, if you still want to occasionally buy a cup of coffee, it can be more of a treat and something to look forward to!
5. Visit your Local Thrift Store:
Your local thrift store may sell many different items; and, it is a great place to explore for clothing items, such as shirts, pants, skirts, sweaters and jackets. Since so many people donate to these locations, you may have a large selection of styles, colors and sizes to choose from.
I started to visit my local thrift store after I retired: and I found many articles of clothing, in very good condition, and at the most amazing, reasonable prices, and all in one place! Visiting your local thrift store will give you an opportunity to see what hidden treasures you can find, and at prices that will positively amaze you!
I hope that you enjoyed these 5 Ways to Save Time and Money in Retirement. Let’s stay in touch!
Thank you to Katie Harp / Unsplash for the photograph