Frugal by Choice
Jane Thrall
Retirement can be one of the most rewarding chapters of life , but not if you ’ re under the constant stress of having an income that ’ s not keeping up with inflation . For those with only a pension and limited savings , money worries can limit choices and hamper opportunities .
While increasing income is an option for some , decreasing expenses may be the more practical alternative for many . I ’ m a big fan of frugality , or what I like to call a “ lack of wastefulness .” Being frugal is not the same as being cheap ; it ’ s a way of living that is both good for the budget and for the environment . Here are a few tips for keeping costs down while still enjoying life .
Start by going through all of your home ’ s recurring expenses including internet , cable TV , power , and gas . Nobody likes to do this , but there may be money to be saved by switching internet providers or cancelling cable in favour of overthe-air TV . Can your heating or cooling costs be improved ? Some utility providers offer a free home energy assessment , and libraries lend out home energy toolkits so you can do it yourself .
If you own a car but use it infrequently , look into car share services and ride shares . More and more young people are postponing the purchase of a car in favour of other , more cost-effective options , but older generations consider a vehicle a necessity . This mindset may be costing more than you think when factoring in the cost of maintenance , insurance , fuel , and initial outlay . Depending where you live , your parking spot may be a source of income as well .
Try to buy used whenever possible . There are always exceptions , but generally you can save at least fifty per cent by choosing a previously owned item . Look for online buy-nothing groups , freecycling groups , and barter communities . Learn to upcycle and repurpose things you already own by browsing sites that inspire new ways of looking at old items .
Repair it yourself . OK , so maybe you ’ re not very handy , but there are an amazing array of resources online to help with almost any repair , from appliances to furniture and everything in between . If you watch a video and still don ’ t feel confident , maybe you could barter with someone who has more
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