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Tips for managing on less

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Hi just wondering if anyone here that is already retired or soon to be retired has any tips on managing on less money than you had when working...
Do you need to work part-time ? What did you cut back on? Did you have to get rid of a car or cut back on maintainence or AA or RAC cover?
I am looking at early retirement due to ill health and will have to manage on much less than half my salary for the next 2 yrs till my old age pension kicks in.
My hubby will still be working and his money is more or less committed already as we still have a mortgage running.. we also have a personal loan, which I propose to pay off with some of the lump sum I will get from my pension.. No other debts to speak of ..
I will be capable of working if I can find something that my health condition will allow and someone is willing to take me on.... the thing that really worries me is if I have use up most of my lump sum to supplement me in the next 2 yrs and of course once its gone its gone..... I will be left with nothing to fall back on when I cannot work any longer.......
Any tips gratefully received
tanith
Do you need to work part-time ? What did you cut back on? Did you have to get rid of a car or cut back on maintainence or AA or RAC cover?
I am looking at early retirement due to ill health and will have to manage on much less than half my salary for the next 2 yrs till my old age pension kicks in.
My hubby will still be working and his money is more or less committed already as we still have a mortgage running.. we also have a personal loan, which I propose to pay off with some of the lump sum I will get from my pension.. No other debts to speak of ..
I will be capable of working if I can find something that my health condition will allow and someone is willing to take me on.... the thing that really worries me is if I have use up most of my lump sum to supplement me in the next 2 yrs and of course once its gone its gone..... I will be left with nothing to fall back on when I cannot work any longer.......
Any tips gratefully received
tanith
#6 of the SKI-ers Club :j
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
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May I direct you to...or rather recommend....the Old Style board. The advice on there is magical in helping to cut down on daily expenses, especially household expenditure. There are some "Challenges" - purely voluntary of course, eg the Storecupboard Challenge where you actually get to use up the contents of your cupboards, fridge & freezer...or the grocery challenge which encourages you to get smart when planning meals and what to buy. Then there is "rubber chicken", using a slow cooker, cleaning with vinegar....lots of people have decimated their household budgets using the tips and advice on Old Style. It's fun, why not have a browse...
http://forums.moneysavingexpert.com/forumdisplay.html?f=33
Hope to see you there soon...
Have you had a read of Martin's book? Old or new one the advice is good
He suggests tackling one area at a time, click here for the Utilities Board
You may not want to switch suppliers but by dealing with your account online it can makes for cheaper rates.
The Mortgages Board may suggest a remortgage at cheaper interest rates or perhaps you can make a claim on any endowments?
The Insurance Board for that car insurance and other insurances.
Of course there is my favourite the Telephone Boards where many users have managed to reduce their telephony bills
As already mentioned look at the Moneysaving Old Style for recipes etc and as kenshaz says, one size won't fit all but utilise what you can.
Take care
1. First and foremost, do a budget, you can base your food and household bills on supermarket bills by collecting them in a jar for 3 months. By analysing your bills you can see where you will be able to curtail down your expenditure to keep it to an appropriate level. I have seen where one couple keep these bills to £50 a month, but perhaps thats a bit extreme.
2. Consider paying off anything that is costing you interest (including the mortgage), interest is money down the drain.
3. More time at home could mean the time to get an allotment, depending on your medical condition. Home made soups, meals cooked in bulk and frozen, bulk buying from cheaper sources are things you can do when you are time richer.
As others say, these boards, particularly this thread are a fund of useful information - http://forums.moneysavingexpert.com/showthread.html?t=69218.
Cutting down on car maintenance could be dangerous. We dumped the AA for AutoAID per Martin's recommendations and just had our first experience with them, they are brilliant for £29 a year.
All the very best to you
Al
Thanks again
"All that is necessary for evil to triumph is for good men to do nothing" Edmund Burke
Don't think I have started CUTTING BACK yet, tho the car is on the list, more because of cheap rail and free buses and of course age and eyesight.It'll be a wrench tho.