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Old 07-27-2017, 04:28 PM
 
Location: Grove City, Ohio
10,138 posts, read 12,398,078 times
Reputation: 13986

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In preparation for my retirement that is within the year i'm becoming a real Miser with my money. Today I saved $12 on gasoline.

I've been using GasBuddy and today I got an alert letting me know that gasoline in the area was trending upwards and could rise as high as $0.35 per gallon.

Looking at my GasBuddy ap I could see a gasoline prices within 3 miles of home from $1.99 to $2.39 per gallon so off we went to fill up the suburban and my wife's car.

Perfect timing... we purchased 30 gallons of gas which I figure represents $0.40*30=$12.00 in savings.

Just checked and in three hours the lowest gasoline went from $1.99 to $2.02 and I am sure they will all be higher shortly.

$12, I am really proud of myself!

What I find really strange is I've never watched a few dollars back 5 years ago like I do today. I am becoming a skinflint and the funny thing is we don't have to be because our take-home income will be nearly as much, I figure within $5, as when I was working full-time.

But I'm watching money now, I am watching money as I've never watched it before in my life.

Last edited by nicet4; 07-27-2017 at 04:37 PM..
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Old 07-27-2017, 04:59 PM
 
10,374 posts, read 9,394,725 times
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Good for you being frugal!

Five years prior to my retirement I adjusted my budge/spending to match what my s/s would be, and by doing that, not only did I save quite a bit, it also eliminated any "loss of paycheck" shock once I cut the cord.
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Old 07-27-2017, 04:59 PM
 
Location: Tampa, FL
27,798 posts, read 26,235,889 times
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I find that I spend much more money during retirement than I did during my professional life/working life. When I worked, I did splurge too often on new cars, but other than that I probably put 50-75% of my take home pay to mutual funds (DCA).

Since the current market has recovered dramatically compared to when I retired, the bottom line (portfolio value) has increased by a lot and I think that's why I'm more liberal in spending during retirement.

I also know that as I age, I'll likely do less travel, and less entertainment because I've done all of that already (bin there, done that)....and be more of a homebody.

Goal isn't to have a huge lump sum of money to pass on to heirs - rather spend the last dollar on my final day of life if all things work out right.
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Old 07-27-2017, 05:13 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,638 posts, read 40,010,157 times
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I find that I spend much more money during retirement than I did during my professional life/working life

especially gasoline (for those with 'wanderlust' or the 'travel bug')

fortunately... since 1976...
I've been using 'free' fuel i.e. WVO / discarded heating oil / non-spec Jet A (drained from aircraft under service)... and many other sources of 'free' fuel. over 60,000 gallons of dino fuel save for the rest of you to consume.

now... to start saving on IceCream expenses (summer is tough,,, homemade Ice Cream and fresh berries daily ...)

I will suffer, when I cut out my retirement 'travel budget'. (which I do not monitor)
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Old 07-27-2017, 05:15 PM
 
Location: Florida
4,373 posts, read 3,710,800 times
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I would say you are learning some good trates. Does not matter how much money you have you should still spend it efficiently.

Don't be surprised that you spend more in retirement than before.
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Old 07-27-2017, 06:58 PM
 
Location: Las Vegas
13,891 posts, read 25,343,932 times
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That's just smart! And there is $12 you can spend on something else!
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Old 07-28-2017, 04:19 AM
 
Location: Grove City, Ohio
10,138 posts, read 12,398,078 times
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Quote:
Originally Posted by yellowsnow View Post
That's just smart! And there is $12 you can spend on something else!
When we go out to eat we nearly always decide what to have and split a meal not to save money but neither of us can eat the quantity we use to. Even if splitting we still take home a doggie bag.

When we eat out most of the time it's at a Zaxby's Chicken, Chick-fil-a or maybe an Outback steakhouse. $12 will buy dinner at Zaxby's or Chick-fil-a and go a long way at Outback steakhouse.

Our biggest expense? We are discovering it's buying for the grand children and kids. Birthday yesterday was $177 with $100 for cash gift and $77 for the lunch tab. Grandpa ALWAYS picks up the restaurant tab for everyone it's just what I like to do. I guess you can say that's in our entertainment budget.

Moving back north to a condo in snow country to be with family was the best move for us. Two things we looked for in a condo was single floor plan and swimming pool. Last week the grandkids discovered the swimming pool and now we are their favorite place to go on a hot summer day!😁

That and single floor plan with maintenance free living is the right thing for us. I look forward to every single day.
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Old 07-28-2017, 04:52 AM
 
71,752 posts, read 71,853,273 times
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we have 5 grand children and 3 kids and spouses .

there is always some event we are buying gifts for , clothes or taking them out to eat . we rarely let them pay. it just goes with being grandparents .
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Old 07-28-2017, 05:21 AM
 
Location: Grove City, Ohio
10,138 posts, read 12,398,078 times
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Quote:
Originally Posted by mathjak107 View Post
we have 5 grand children and 3 kids and spouses .

there is always some event we are buying gifts for , clothes or taking them out to eat . we rarely let them pay. it just goes with being grandparents .
Exactly right. I let them pick up the tab maybe one time in 50.

For gifts we have discovered their favorite is $100 bills. Never yet heard one say "darn, this isn't what I really wanted." Makes shopping easy.
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Old 07-28-2017, 05:52 AM
 
673 posts, read 2,029,746 times
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Quote:
Originally Posted by nicet4 View Post
Exactly right. I let them pick up the tab maybe one time in 50.

For gifts we have discovered their favorite is $100 bills. Never yet heard one say "darn, this isn't what I really wanted." Makes shopping easy.
We always pick up the tab for eating out. Also, yes we find that cash is the most popular gift (when they are old enough).

When we were younger, no one picked up the tab for us, because both our mothers were widows. We picked up their tabs too. It just is the right thing to do. Makes you feel good.
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