It takes hands to build a house, but only hearts can build a home.

Author Unknown

Saturday, January 11, 2014

Chapter 1, Page 11, Book 14

 Retirement can be a great joy if you can figure out how to spend time without spending money. 

Author Unknown

Before I retired, almost 4 years ago now, I checked and double checked my budget to make sure I could live on my retirement income without working.

It seemed to work out really well, but I’ve revised that budget now every year since then.  Costs go up.  Things happen that require extra funds.  This year is no different, the budget will definitely be revised again.  

I read one article that said things should be divided up 50, 30, 20.  So I sat down and listed all my expenses.  The 50% list has necessities, the 30% list had things I want but not a necessity.   And the 20% was savings.  My savings includes saving for things like house and car repairs.   It's more like a rainy day fund.  Without even trying my lists totaled up to be pretty much right on. 

I’m sure this will be an ongoing project as things never get cheaper, only more expensive.  But there are many ways to have fun and still enjoy life.  Joyful living doesn’t cost a cent when you think about it.



Retirement was a struggle. We really can't afford to live on Social Security alone, so my husband still works if he can.

Back Porch Writer said...

Retirement scares me a bit. I do feel some comfort in knowing we have some equity in the house. If all else fails we can sell and move to smaller place and use that money. Or better yet, sell and do what Jack and Sherry do - travel and camp! lol I would secretly love that. Who knows what life will bring and I figure that we will work as long as we are able in some format. Whatever happens, God for sure will look out for us! He will you too.

jack69 said...

A good thing happened to me once, I married Sherry. She has been fiscally responsible, I have always been conservative but without a budget. She is a budget maker and guided us thru life until now, we live well but still watch what is spent (She does, and says I don't do it as well anymore!)

Very good and a timely entry. some folk do not count the costs until too late.

betty said...

I never quite got into budgeting like I should have; it seems like you have a great plan to continue to see what expenses may be and plan accordingly. But you are right, joyful living doesn't cost a cent indeed. Just taking a walk around the neighborhood one can enjoy the wonder of God's creation!