Baby Boomers Today Trying to Save Money

I will tell you right now that baby boomers today trying to save money is no easy task. When we retire we think our retirement pension - if we have one - will go a long way.
The problem is that the baby boomers now want so much more: travel, nice living quarters, and a great social life to boot.

So, there are a few things we can do. Explain to your family and friends, and/or acquaintances that you are on a limited budget. Yes, you can go out with them but find a cheaper venue. Most people will go out of there way to make this work. Tell them you can not afford to be buying drinks all around or anything to that nature.

Remember to do sale days at Shopper's Drugmart: for the people 65 and over - you can shop on Thursday - senior's day. For those not there yet - like me - well - I try to go on 20 x the Optimum points day. And, remember any coupons you have: keep them in your purse at all times.

Use an airmiles credit card just like a debit card. Once you have put something on your card go home and pay if off right away. Allow yourself a budget - how much you can afford each month to pay off that credit card in full. Oh - and - no using your credit line - that is just for emergencies.

Try to put a little money away each month in a Tax Free Savings Account. This money does add up and it can be accessed free of charge.

Don't go bankrupt - it will screw up your credit rating. If things are really bad - instead - do a consumer proposal. You will pay a little to save a lot.

Try to get into a co-op housing apartment geared to your income - unless - you know you can still work. If you get a part-time job it wouldn't pay to go into geared to income housing.

Keep small change in your piggy bank. I know it sounds a little out-dated - but - remember - cash is king - and a rainy day fund can pull you through the month.

Eat a lot of fish, chicken, vegies and fruit. Yes, a little red meat once in awhile is okay but it will be hard on your budget.

Don't be afraid to go to the thrift shop. I bought the most awesome pillow throws for my couch for a few dollars each. The same pillow throws in Winners would have been ten times the price.

I wish I had a crystal ball to tell you the future.

(credit - free gif picture from Photo-bucket)

What to do and what not to do. But, always try to keep your financial house in order. This will not only help you out - but - it will help you live your golden years - more golden.

Gonna sign off now.

Just me.

The Diva Money Saver