Stop Wasting Money Start Making Money In Retirement
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- Опубликовано: 7 окт 2024
- Stop wasting money start making money in retirement, you could be richer than you think. Simple changes could have a large effect on your happiness in retirement.
Buying because of habit could be harming your retirement income and having debt in retirement is going to rob you of precious cashflow. We don't have time to earn our way out of retirement debt in retirement is your enemy.
It's not all doom and gloom join us in this video for a bit of fun as we talk all things money that retirees need to think about, you're richer than you think.
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I'm not sure why, but every time I watch you two, I have a smile on my face :) I think it must be your positive energy and smiles, and the way you interact with each other. You two really do make the world a brighter place ⭐ Thank you for creating this awesome channel for all of us to learn from and enjoy 😊
😊 thank you, we appreciate your support and glad you enjoy it , have a wonderful Easter weekend Cheers 🍷🐣🐰🙂🌻
Here, here.
Norm and Tina ~The best of kind! :)
awesome
@@theneverendingjourneyoflif1482 Thank you
In addition, I suggest staying out of the discount stores such as Marshall's and Home Goods. Some people use these stores as entertainment and buy junk to fill their home.
Good point Ann spending on a “bargain “ as it’s reduced just fills up the home with more needless stuff! Enjoy your Easter weekend Cheers 🍷🐣🐰🍺
As we approached 60 we began paying off cars, mortgages, never had credit card debt, and now we are able to live comfortably. Thank you for great advice and food for thought
Wonderful! glad you enjoyed our videos and find them helpful Cheers 🍷😎🌺
I recall seeing a commercial on TV about an exercise machine and was watching this with my brother-in-law. The narrator said, "stores away quickly and easily." My brother-in-law immediately interjected: "FOREVER!"
I love your videos! I have been watching them for a few years. I always learn something new. I am a single woman, in my late 50s. I have lived on a moderate income for years and always found frugal and creative ways to enjoy life. One strategy for eating out frugally, is ordering a salad and sandwich with my girlfriends and sharing it. Picnics, libraries, walking, kayaking, biking, accessing the local libraries, cheap local theatre, as well as entertaining and exercising at home are all simple cost effective ways of living. I got rid of my cable and landline 12 years ago. I have Netflix and a Roku stick. I am from Canada. I have Chatr cell service which is $45 (tax incl.) a month. I refill my water bottle at home. Thanks for your wonderful advice. I will be selling my home for my retirement fund as well. Happy summer!
Glad you enjoy watching our videos Valerie hope you have a wonderful weekend Cheers ☕️🌺🙂
Love the videos. We are Canadians, approaching retirement in the next 5 years and we really enjoy your talks. My Father who emigrated to Canada in 1960, always told me, "don't worry about the large purchases, you will think about those many times before you spend the money and make sure you need them. It's the little costs, $10 here and $20 there that will hurt your budget." Wise words. Thank you again.
That sounds like great advice your Father gave , we are glad you enjoy our videos and find them helpful have a wonderful week Cheers 🐣🌻🐰
@@genxx2724 Great advice Cheers 🌺🙂🍺
Your dad was a smart man
Best advise my financial planner gave me was figure out my post retirement budget and estimated income, and live on that at least a year before I am actually not working anymore. I’ve been doing this 8 months and find that I am comfortable living on about 73% of my net, which is where I will be with my retirement income. Biggest positive is I’m saving the extra. 7 months left of working.
Great idea Janet we have also suggested that on some of our videos to give a trial run have a wonderful weekend Cheers 🌺🍷🙂
Oddly enough we spent a lot on the first two years as we were going on expensive trips it was exciting, we’ve calmed down a bit 6 years later and spend a lot less now.
Have a great weekend! Scrabble and music! Nothing better than walking in the fresh air. Totally agree, spening less than you earn is the key! 💰
Great advice Joyce have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
@@ThisIsOurRetirement Happy Easter!🐣🐰
Spot on again! It's a good thing that restaurant chains have debrillators because the last time I went into a Starbucks I had to be revived after I ordered. I'm wary of sounding "old" but young people spend an inordinate amount on coffees and cocktails (at $13 and up). I worry that they will never get ahead. And you are so right about meal kits and I'd add to that all the prepared foods at the supermarket. If our grandmothers went into the grocery store today they would ask "doesn't anyone know how to cook any more?" I saw a documentary that also pointed out that the rate of obesity in North America has gone up in step with the rate of ready-made meals. There really is no excuse. Cook at home and enjoy the social aspect of that as well, as you mentioned. We like to save our money so we can have nice holidays. Thanks for the post and have a great weekend.
So true it is very scary the rate of obesity growing not only in adults but starting with young children and eating processed ready made meals accounts for a lot of it .Going for fancy coffee ☕️ at Starbucks three times a day can cost $20 😱Although we save on things we do like to spend and enjoy our travel which is nice . Thanks for watching have a great Easter weekend Cheers 🍷🐣🐰🌻
I retired a year ago and hubby just retired. We love watching you and feel inspired that we have this retirement thing set up right. In 20 years marriage, we’ve rarely eaten In restaurants, stopped expensive coffee (hubby makes the BEST), expensive clothes and purses jewelry, and drive cars until they drop. I work out daily to moderate workouts on with Pahla Bowers or Jules at Improved Fitness, etc. have been doing it for years. Light cardio, light to moderate weights, stretching- all in one workout. Can’t recommend them more highly. Keep up the great work. ❤️
Sounds like you are having a great retirement Barbie, we are glad you enjoy our videos have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
That’s true , you know what , ever since the pandemic we stop eating in the restaurant, it save us significant amount of money.
Yes we haven’t been eating out either , saving lots of money 💰 Cheers 🌺🙂🍺
We also pack a lunch if we are driving places. Including drinks. So much cheaper and healthier.
Sounds great! we do that too Sheryl have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
My husband retired three years ago. We have gym equipment that he uses regularly as he has always been health conscious and keeps his muscles well defined. He has talked about entering a competition. He pays a membership at a gym and likes going once a week to get out if the house and visit with others. He is a good representation of keeping fit at any age and his younger audience is amazed at his fitness. He often outdoes younger people. It’s an ego trip for him but it is also a witness for aging well. He gets a seniors discount. I worry that he might injure himself but he knows what he’s doing and as we age we loose muscle so it’s good to keep tone and fit.
Thanks for your comment sounds like hubby is keeping very fit hope you have a wonderful weekend Cheers 🍷🐣🐰🌻
Norm and Tina you are a power couple. You share so many great hints and strategies for easing into retirement. But most of all, you share your loyalty and friendship as a married couple. It shines beyond the advice you give. Thank you .
Thank you so much! we are glad you enjoy them Lynda have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
Happy Easter weekend!
I tell my friends who are thinking of retirement that they will be amazed at how much money they save not working. A big part of that is that they will have the time to shop for fresh groceries and cook at home. I agree that home cooking is much better tasting and more economical than anything you can get in most restaurants. You have the added benefit of not having to line up and deal with crowds and of course I don’t expect tips. We much prefer the taste of coffee we make ourselves. You also don't need work clothes or have commuting expenses. Once we were both retired we even sold the second car which saved a huge amount.
It’s strange how much money 💰 you do save, and funny how hard it is for people to go from two to one car 🚗 as the savings are huge ! Have a wonderful Easter Susan Cheers 🍷🐣🐰🍺
Thank you for an entertaining reminder to watch expenses: spend less and have more! I am always amazed at how easy it is to buy things, but how hard it can be to make good use of them.
That should be a bumper sticker John 😂😂 Thanks so much for watching our video, have a nice Sunday.
I'm doing most of these tips and couldn't be more content with my life. Thanks for re-enforcing my belief, Teen and Norm.
You're so welcome! have a wonderful Easter weekend Cheers 🍷🐰🐣🌻
we venture outside of our hometown (Bay Area San Francisco) area on Sundays and I call it our $100 splurge day and that only covers gas, tolls, lunch and if there’s money left over maybe a book - costs are rising!
Sounds like a great idea thanks for sharing Cheers 🍷🌺🙂
I used to love meeting friends for lunch but the rise in prices during the pandemic has been (to use Norm’s favourite word) shocking! And you are so right about many restaurant meals being quite mediocre. I really looked forward to eating in restaurants again only to be disappointed when I did ☹️ Meeting friends in the park for tea and a chat has become the new lunch date, in the good weather months anyway.
We agree Sheila it is disappointing to see the quality has gone down even the takeout too , hope you have a great week Cheers 🍷🌻🙂
We charge everything on our credit card, including bills and get 2.62% cash back on every purchase since we have our IRA at the same bank. We pay it off every month and never pay interest.
It is a great plan Jeff if you are disciplined as you seem to be, it’s another tool to generate income, we do the same but with a loyalty points credit card with Canadas largest supermarket chain and get free groceries and discounted gasoline from the points on the card. Thanks so much for sharing your great idea.
A book for 10 dollars lasts for weeks. Portable, entertaining, cheap. Eating at home is actually a time saver too.
There are lots of community book shelves in various places we visit where you can take a book. Eating home can also be healthier.
Join a local library as they now provide ebooks to download too
I agree and can be as frugal as the best of them but the occasional ‘latte’ or ‘avocado toast’ or whatever is OK I think…same with an occasional meal out. We all deserve a treat now and again. This way they are more special as they’re not a daily thing. A meal out may just mean scrimping on something else. One thing to add is to take advantage of all of the seniors’ discounts. They are many and can support the occasional indulgence.
We so agree ( Norm makes an amazing avocado 🥑 toast ) we have take out one a month which is a treat and supports restaurants during Covid . Seniors discounts are amazing 🤩 to take advantage of have a wonderful weekend Cheers 🍷🐣🙂🍺
Always enjoy your videos. As a single semi retired person unfortunately so many things take more of my income, from mortgage to life expenses. I make all my meals, freeze leftovers in individual portions, rarely shop for clothes (and only go to thrift stores), use my public library instead of buying books, never buy coffee at chains, have a renter in my basement suite. I have to watch every penny and do keep track of my expenses these past few months. Definitely helps! The goal is to be able to have extra money for travel!
Sounds like you are doing lots of great things Karen to save money 💰 and having a goal to be able to travel is great Happy Easter 🍷🐣🐰🌻
Another reason not to spend the money on a gym membership is that now health insurance will often INCLUDE the membership for free here in the US. So your viewers should contact their insurance company to find out if theirs does.
Thanks for sharing that information Pete have a great week Cheers 🍷🌻🙂
Always remember to help non -beggars help themselves. We take nothing with us, when we die. Be a reponsible giver, and not a taker, especting nothing in return. You are so correct on the budget.
Thanks for sharing have a lovely week 🌻🙂
Thank you! as a self confessed foodie and extrovert,, I suggest a supper club in someone's home where you take turns or do pot lucks or a cook book club, or cocktails club,,,keep on keeping on! Cheers
Great idea Maryjoan , we actually used to do that with 3 other couples when we had our house . Covid has kind of stopped all that but hopefully will get back to it so much fun Happy Easter 🍷🐣🐰🌻
This is great advice. Budgets are the saving grace. I once demonstrated to a colleage how much her Tim Horton's habit was costing her a year, and she was shocked. Between her and her husband, they were spending $3000 a year. I said, how cool would it be to have that amount to go to Mexico, or better yet, pay down your mortgage? Just bring your own tea from home (yes, it wasn't even coffee!!) and save yourself. Tim Hortons won't go broke just because your 3K is no longer in their pocket.
Awesome advice you gave your colleague we hope she bought you a coffee 😂😂
Another great video! I have had a credit card for about 47 years( got my first cc at 18 for travel) and have never paid interest. I have never used it unless I had the money in the bank to pay for what I was buying. I also keep track of my budget on an excel spreadsheet. I allot an amount for each expense every month fixed and variable spending. Rather than feeling constrained by a budget it is actually freeing because you can see where you have money to spend, you don't have to wonder if you can afford it because you will already know. I also keep a net worth tracker in the same file. I keep track of trips I want to take as well, this is an expense I save a certain amount of income for and as I decide on trip I prepare an expense tracker to see how much will be needed. I thought of doing like you have mentioned and just have a lump sum put aside for travel but I decided to save up for trips out of my income instead. Instead of taking the grandkids out for a meal I have them over to my place and we make dinner together. From appetizers to dessert. We have a great time deciding what to make and great conversations while doing it. Something I did in the last two weeks was sell my condo and rented an apartment. I have done very well in the property market but I have decided it is time to let someone else worry about the furnace and appliances breaking down.
Congratulations Maureen on your sale! We found after a year we had noticed a lot less house induced stress, we hope you enjoy your new home. The cooking with the Grandchildren sounds awesome what beautiful time to spend with them and then share a meal. It’s great you have a plan to track your finances, it’s such great peace of mind. Thanks for sharing your ideas, have a wonderful Easter weekend.
Great advice, and we have been practicing these same ideas for decades. Very reassuring to know that our thrifty ideas, have been sensible spending practices. And not just being cheap skates, lol.
You are so welcome! being thrifty Bruce means that money 💰 mounts up to use for other things too , have a great Easter weekend Cheers 🍷🐣🌻🐰🍺
We go to a free gym at a senior citizen center that's free too. It has state of the art weight resistant machines using air pressure rather than weight disks. Also trained center attendants, is owned by our health insurance Co. but any older adult can attend. Other classes , card games, puzzles, movies, and invited speakers are there too.
Thanks for sharing sounds like a lot of fun Happy New Year Cheers 🥳🥂🌺
My thoughts exactly. While I am not a fan of gambling, one of my old neighbors had a good parenting idea. When our state first legalized gambling, in order to teach her children the reality of the game, she would have them pick numbers at home on a piece of paper. Then, when the winning numbers were released they would compare their picks to the winning numbers. Of course, they never won. They then realized how much money they would have spent for nothing. I thought this was a good teaching moment.
Sounds like a great way to teach kids about gambling Thea thanks for sharing the story have a great Easter weekend Cheers 🐣🍷🐰🌻
Happy Saturday Norm & Tina - great suggestions! I’ve been keeping track of all my income and expenses for years. Some of my friends think I’m nuts but I set up an Excel spreadsheet and can easily keep track of non-discretionary and discretionary expenses. I know where every penny goes. It’s also easy to see how costs rise year over year and it makes it easy to identify what you can think about doing without. I have a no fee cash back credit card and I put every expense that I can on the card. Every day or so I pay off the charges to ensure I don’t overspend based on my monthly budget. The cash back really adds up. I’ve given up some of those luxuries like manicures and pedicures that I indulged in when I was working (and I don’t miss them at all)! Happy Easter and keep the great suggestions coming!
Great comment Libbyann, I (Tina ) used to have massages when I worked a needed stress relief but luxury ! no longer needed in retirement .We just cancelled Netflix and don’t miss it a bit hope you have a wonderful Easter weekend Cheers 🍷🐣🐰🙂
@@ThisIsOurRetirement Ahhh Tina, I’m the same when it comes to the massages! Every New Year’s Eve, my husband and I have the “fireside chat” and discuss what went well over the past year and what we could change. Minimizing expenses is always on the agenda - I’ve been lobbying to ditch Netflix but he still enjoys it. I’m a huge supporter and user of our local public library so get my books or movies there. Being thrifty is
actually FUN! Cheers to you too - enjoy the weekend.
Some great ideas and comments, with everyone having different money to work with and different likes and dislikes. What we do is we have a monthly budget, we set down after each month and go over the previous months spending. The thing that this does is helps us spend our money on things we enjoy and not waste it on things we dont. It also makes us realize the real cost of things. The other thing is as time goes on our desires change so we modify our spending to change with them. Having a budget is very liberating!
You too we kept Prime as we get free deliveries 🚚 so a double bonus 🍷🙂
That sounds like a great plan going over what works and what doesn’t , but also being aware of true costs of things to evaluate, have a wonderful Easter weekend Cheers 🍷🐣🙂🐰🌻
My husband and I go to restaurants now and then since we are now retired , but we do happy hours now. Its a faction of the cost and still have a treat out .
Yes happy hours are tailor made for retirees, have a wonderful day.
Richness doesn't have to be about money. Today is Easter Sunday and several members of my family are coming over for dinner. It can be precious moments with loved ones that can make us truly rich.
Totally agree Ross
@@ThisIsOurRetirement I knew you'd agree. As your videos have repeatedly addressed, a successful retirement is all about maximising quality of life. Many of the things we can do to maximise that quality have little to do with money.♥
I agree 100% about cooking at home. I seem to get disillusioned when we eat
Out thinking I could prepare a better meal at home. We do go out maybe 1-2 times a month give or take.
Thanks for another wonderful video
Thanks Kim , yes we get that same feeling of disappointment since Covid the quality of the food seems to have gone down a lot , hope you had a nice Easter Cheers 🐣🌻🐰
We get together with three other couples for dinner every month taking turns in our home's. We each bring a course for dinner along with a bottle of wine.
In the summer it's mostly BBQs or outdoor pizza ovens , in the colder months a roast chicken, beef,or our friends famous lasagna! None of these dinners cost more than $50.00 each couple and it's an entire evening of dinner, wine and lots of fun! We all say how much we missed our dinner's during covid and how grateful we are to start gathering again!!!
Sounds wonderful Shari , we also used to do it with 3 other couples, everything was missed over the last two years hopefully things will restart soon have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
If you're getting more than 4 glasses of wine out of a bottle, you need bigger glasses 😉. Great tips guys.
Or maybe a bigger bottle 🍷🤔have a great Easter weekend Matt Cheers 🍷🐣🐰🍺
Great advice! My hubby and I have always lived by this, so we’ll be all set for retiring! We don’t like crowds or eating out. We explore new recipes together and learn to train our brain games and fun trails to walk or bike on. Love your videos!! 😀🙏🏼🇨🇦
Thanks again Tina and Norm. Wonderful tips, advice.and suggestions. My son (turning 22 tomorrow) always had a sense of saving money and not spending on unnecessary things. He’s the first one to say that’s too much or too expensive. Or he’ll say why buy a coffee when we can make it at home. That goes for food too! He’s an excellent cook and self taught 😀Doesn’t let mom in the kitchen. The reason he’s living with us at 21 is because he straight away says rent is way expensive and College tuition is as well. Our daughter graduated from her University Kinesiology Program with a huge debt she’s paying off her student loan (OSAP ) now.. She acquired a lot of debt even though she was always a part time worker during university and worked full time during her summers. Tuition and lodging is a fortune!!!! She says she doesn’t want to go back for her Masters! Well, just yet, because of another pile of money she’ll have to endure!!!!
My son learned along the way with his sister’s money challenges! She is re-educating herself now with “ money”. She’s a frequent thrift and bargain and second hand shopper! I always told her; just because that’s on sale it doesn’t mean you can afford it! If you don’t have the cash then you can’t buy it.
😊 🌷Sam and Pedro
Happy Easter Sam and Pedro 🌻yes we have put two children through university and they both helped financially by working when they could and contributing, but Tuition and lodging is expensive. Good advice if you don’t have the cash 💰 maybe you don’t need it , enjoy your weekend Cheers guys 🍷🐣🐰🌻
@@ThisIsOurRetirement Happy Easter to you! It’s cold here but very sunny ☀️. I’m off to turn on the oven to make a tasty and fairly inexpensive Easter meal! Pedro is making a Pao de Lo - Portuguese sponge cake, we just need the vinho do Porto, maybe next time. Enjoy your day. 🐣🐰 🌷Sam
Sounds great 👍
I also learned about thrifting, better not buy anything I don’t need. I wind up selling them again, and not clutter the apartment.
Tina and Norm, again all good points. I am now through my first quarter after Jan 1 retirement and the reality of never having to log into work again if finally sinking in. The reality of having to live on without the steady paycheques is also sinking in! Roger Waters had it right; "Grab that cash with both hands and make a stash". All the best.
Don’t worry Ted it gets better as time passes, but yes grab the cash sounds great!
Always look forward to your Saturday videos. Thanks!
Glad you like them! have a great Easter weekend Brian Cheers 🍷🌻🐣🍺
With regard to restaurants... Many years ago, long before retirement, we stopped going to medium priced restaurants. In general we find the food is mediocre, totally forgettable, and still pretty pricey. At cheap restaurants the food usually isn't that great but you're not paying that much either (and sometimes that greasy spoon place down the road has the best breakfast going). At a really nice places the meal is expensive but excellent. I find with medium to medium-high priced restaurants you get the worst of both, fairly expensive and not that great.
When we go out for a meal (admittedly not all that often) we spend the money and make sure it's a memorable meal rather than, as you say, something we could have done better ourselves at home. Sometimes you really do get what you pay for.
Great comment thanks for sharing have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
🤘🤘🤘 These tips apply to everyone, not just retirees. Rock on, Nohhm !!!
Thanks 🎸🎼have a wonderful Easter weekend Cheers 🍷🎸🐰🐣🍺
Cribbage is a good board game that can help keep you active mentally!!! I play the computer almost daily !!! As for happy hr I have it at home with a pint of beer that I make at home. .50 cents a pint. CHEERS P.S There are lots of keep fit things you can do at or around home without any equipment except shoes and maybe une bicyclette
Great ideas Darryl thanks for sharing, especially playing Cribbage against your computer ! have a great Easter weekend Cheers 🍷🐣🐰🍺
I like my rowing machine. While listening to a documentary on Portugal… or to this podcast!
Great to see how your channel / subscribers are growing. I started listening to you during pandemic … I retired in ‘22, moved from Montreal to Vancouver island. Soon, Vancouver. Rent is sky high but I stopped eating out. I’ve always paid credit card in full every month. Will return to teaching part time bc I want to …
My husband and I just found your RUclips channel and have enjoyed it. He retired at 47 and I retired by default lol. We were concerned if we had enough money, etc. We live a simple life but that doesnt mean we go without! One thing also is some of the great thrift stores we have around us or a short drive away and have saved hundreds of dollars easily whether it was for some ‘new outfits’ or household items we needed! Keep up the great work, its been fun, beneficial and encouraging!
Thanks Jennifer glad you are enjoying our videos have a wonderful weekend Cheers 🙂🌺🍷
Good suggestions. I am frugal and have spread sheets showing exactly where I stand financially, but always have a well funded travel fund.
That's a great idea! because then you have the money for what you want to do which is travelling wonderful, have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
Since cooking at home, we’ve had healthier meals. Benefits has been better health, cut out a couple of prescriptions and loss much needed weight for both of us! I often remark, “this meal cost $ and this meal out would have been $$ or more. With rising cost of everything we are on buying only must needed items. Awesome we want less as we age.
Lyn it really is great what you are doing and yes we don’t buy stuff anymore just what we need, life is good! Have a great Easter weekend.
I hate going to Starbucks, or other coffee shops. They are often loud, busy and stressful.
If you like robust coffee, I recommend Bustelo especially in the morning when I need a strong cup.
Thanks for the coffee ☕️ recommendation Cheers 🍷🌺🙂
I definitely cook better at home than any restaurant anywhere. I learned when I was 20, calling my mom and asking for advice even in the middle of a recipe. I'll be 70 in June and still going stronger than ever in the kitchen😀🌞❤
That’s wonderful Richard, Norm is our excellent chef 🧑🍳 he also learned a lot from his mum . Hoping you have a wonderful Easter and cooking up a storm , we are having Roast Lamb (Tinas favourite) tomorrow Cheers 🍷🇺🇸🐣🐰🍺
I love your videos! I am loving liviing in Queretaro, Mexico, since 11-2-2021. USA was too deadly and expensive for this 79 years young lady. My apartment includes all furniture, utilities, and maid service. I always have groceries delivered. I have friends, who will take me on tours, and get take out, or whatever I want. I thank God. I love my own non pork cooking.
That is awesome! thanks for sharing have a great week Cheers 🍷🌻🙂
Thanks for these tips. Happy to say, I don't waste money on any of the things you've mentioned. Plus, I do make a budget and stick to it religiously. I must say doing all of these things pay off tremendously! I know cause I have been doing them for the past 25 years
That's great! glad it is working for you John Cheers 🍷🐣🙂🍺
"This is not a coffee. This is a dessert" . Referring to the pricier, sugary, fattier coffee-containing beverages from the famous shops. Either buy a plain coffee at a shop, or like you said, make at home. Love dark roast coffee beans at home, using a French press and a grinder.
So true Terry guess yes they are more like a dessert with lots of calories Cheers and Happy Easter 🍷🐣🐰☕️
I am surprised nobody mentioned to use expense tracking Apps. There is lots of them on App Store, they produce reports with Categories that you can customize. You can also keep receipts for warranty. I use one called “Home Budget”, had tracking my saving and expense for 10 years now. So I know exactly where did our money go and how much we have saved. It really reduced stress for us.
Thanks for sharing great ideas have a wonderful weekend Cheers 🍷🙂🌺
The other thing I started doing a few years ago was committing myself to getting rid of 2 things I already have if I want to buy something new; so for instance a new shirt requires donating 2 I no longer wear to a thrift shop. I do this with everything now unless something that is a standalone item breaks and simply has to be replaced. It forces me to ask myself if the item is a “want” or a “need”. The “wants” can blow the budget in no time.
That seems like a great idea , we all have too much stuff yet find it hard to throw things out . We have also started taking more and more things to charity shops it’s a start . 🌻🙂
I scored 💯 on your suggestions. I track my expenses in an Excel spreadsheet. I'm looking forward to retirement July 2023 🙂
That’s great Kate you are well prepared for a great retirement! Have a nice Easter weekend.
Thanks Norm and Tina. Very good video. And, happy to say we are now doing everything you mentioned. Makes us feel good! Regarding budget, we are tracking every penny, have been doing that for the past 3 months and with retirement preliminary scheduled for July, knowing our expenses have given us lots of confidence we can make this work. Like you, we have not carried a credit card balance for over 20 years. However, we do make good use of credit cards for the perks - and some of them are incredible. One card gave us 100k points (roughly 1k dollars) after we spend 5k on the card. Others do an annual free nights stay that more than makes up for the yearly cost. Highly unlikely we'll ever get another loan, so I have no problem cancelling cards even if there is some impact to credit rating. I love living frugally. It is so much more fun when you get a good deal. Thanks again, you are on our schedule every week and we so look forward to your weekly updates! Please ping me if there is ever anything I can do for you here in North Texas. You've both done so much for us - thank you!
Congrats 🥳 Andy on your upcoming retirement in July that’s wonderful , we are glad you enjoy our videos and find them helpful hopefully one day we might get to Texas have a wonderful Easter weekend Cheers 🍷🇺🇸🐣🐰🇨🇦🍺
Hi Andy Being an American citizen, I am just wondering if you have ever watched The Dave Ramsey Show on RUclips? I first found him last year in January and I learned a lot and so far have paid off $30,000.00 on my mortgage with 20 months to go. Learned a lot from Dave. Love watching the debt free screams. I only have a mortgage and its been over 10 years since I have ever had a credit card balance. I love his free budgeting app “Every Dollar”. Everyone should have a budget as it tells every dollar what to do. Congratulations on your coming retirement. I’ve been retired 2 years and in November, out of boredom I got a part-time job in a garden centre. So relaxing and fun.
Hi Monica. Yes, very familiar with Dave Ramsey and every financial person on youtube. Investing is one of my main hobbies, along with watching Norm and Tina :-). Congrats on the mortgage progress. Focusing on getting totally debt free is a great approach. After that, like Norm and Tina, I'm a huge believer in dividend stocks. I like Ramsey for his focus mutual funds. I do a combinantion of both approaches, along with buying individual stocks. You should celebrate in 20 months when you pay off the mortgage!
@@AndyCColeman I do intend to celebrate. Not sure how are what yet. But I am sure I will think of something as I get closer. I wish I could do a debt free scream but I still use credit cards but never have a balance. That would never do for Dave.
I like all your ideas. We use to go away to resorts @ Disney carrying a small boil pot to make coffee & oatmeal, which we carried for our breakfast each day. We did the same thing with gambling as you small limit. We never carried a balance on credit cards. Now as a new widow I have made a chart of monthly / longer expenditures & income. I have no mortgage & no car payments. I have a new financial advisor from a huge company. I can easily live on 1/2 of previous yearly income, reinvesting any dividends. I projected my income through a very long life span with FP & brings peace of mind. Jeanne ( retired RN)
We are sorry for your loss Jeanne. The small boil pot is a great idea we hadn’t thought of sounds like a wonderful idea for travel, we take an electric skillet with us when we have the car. You seem to have a keen grasp on your finances which is great. We do find that we seem to be getting by with less and this does turn into surplus savings. Thanks for watching and sharing your ideas.
Great advice! Balance is key. Since there will be no housing payment in retirement, our plan is to enjoy our pensions eating out a few times a week and traveling 😎 Trying to take care of our physical health now in order to be able to enjoy the flexibility of retirement.
Sounds like a great plan have a great Easter weekend Cheers 🍷🐣🐰🌻
Debt, I fully agree, you don’t want debt in retirement including mortgage or rent, you want to be able to enjoy your retirement
We totally agree no debt equals happy retirement Stevan have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
Dark side of the Moon! Still have the album, as well. Thanks for your very informational channel! God Bless
Great album have a great Easter 🐣 weekend Cheers 🍷🐣🍺
Enjoyed today's video so thank you, we go for a walk most days and stop to get a normal coffee at McDonald's, just a quick note that if you ask for a senior coffee, after tax it works out at $1.50 and I believe that's age 60 and over.
Sounds great Lynn and yes we always ask for the seniors coffee ☕️ too have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
Thanks for the senior coffee reminder. When we have gone through the drive through, we have never been offered a discount. But...we'll be asking now....😉
Friends and I can still go out for lunch … never for the twice-the-price supper … AND we never buy a drink of any kind nor a dessert. No tea. No coffee. No wine, juice or milk. That way I always have enough for a good 20% tip -- because our bill is so much lower at least by 1/3
Eating out at Lunch is a great option as it’s always cheaper have a great Easter weekend Cheers 🐰🌻🐣
You both are helping me (and I am sure many others) in shaping my retirement plans; even though I have quite a few years to go before I retire, the crucial tips you guys are giving now are going to go long ways. I just love your no-fuss videos with your genuine smiles and Conversations. Thanks and Regards!
Our pleasure! we are glad we are helping you with your future retirement, we hope you have a wonderful Easter weekend Cheers 🍷🐣🐰🌻🍺
When the wife and I were on the road we'd always bring a Scrabble game with us. If there was a local coffee shop in towns we'd visit we'd sit and play for an hour. Now that we're retired, we just keep the game in the car and play when we stop for coffee. Gets us out for $10 in coffee.
What an amazing idea 🤔 Alan we will have to get a smaller more portable game so we can do that when we travel as well have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
Happy Easter 🐣 Thankfully I've never had a credit card and use money as well as I can with prices of everything going up but covid thankfully taught me how to save money eating out. I only ate in my car and noticed the price of coffee and a croissant for breakfast could differ hugely so now its a croissant from lidls and a black coffee from Mcdonalds and a nice view somewhere for a treat out. Better than spending double or more for the same thing. Have lovely weekend. See you next week 🍷🍺💖
Hello Carol, Definitely credit cards can be difficult to manage for a lot of people. You have sorted out breakfast very well, we can get a seniors coffee here at McDonald’s for $1.25 any size. Your routine sounds nice with a nice view. Happy Easter.
Very good money saving tips! Remember reading a statistic recently, most restaurants these days cooks from pre-prepared packages instead from scratch.
Especially the chain restaurants a lot of boil in the bag factory prepared food. Thanks for watching Ian we appreciate it.
We couldn’t agree more! Thanks for sharing guys!
Thanks for watching guys hope you both have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
Great conversation for all stages of life...one thing I did recently was to download all my credit card transactions for a year into a spreadsheet, then categorize it into buckets, which didn't take that long by sorting by retailer. If you use your credit card all the time it can be pretty accurate representation of where all your money disappeard to without having to micro manage receipts.
That's a great idea! thanks for sharing Christine Happy Easter 🍷🐣🌻🐰
I always loved going out to restaurants for the experience and food of course. Obviously that habit collapsed during lockdown but we never got back into the habit. With "post covid" prices, even though we can afford to go out, I just cannot bring myself to regularly pay those prices. However, we now have switched to a pint at the pub, which Iove!
Yes the pandemic has brought into question a lot of habits, a pint at the pub sounds great!
We live frugal and 😊...
Thanks!
You are so welcome! have a wonderful Easter weekend Gary Cheers 🍷🐣🐰🍺
Agree with all of this. Getting set of weights is great idea. Also, in my 30's I discovered work out videos. I have about 40 videos now. It's like having a personal trainer with music in your home. No travel to work out. Can get up and work out before breakfast. Taking walk is great, especially in a park on a nice day. Eating & having coffee at home saves so much money. Getting takeout of dishes you love once a month is fun.
Thanks for sharing!! have a great weekend Diane Cheers 🍷🌺🙂
Another Big $$$ that people blow is on Cars. As far as I am concerned i look at a car as an essential item. A $30K new Toyota car would serve the same purpose as a $80K Tesla or BMW. In addition the value of your car becomes practically ZERO at the end of its life of 10 years based on a normal use. Besides you pay a much higher premium for insurance, maintenance etc. To top it all you spend may be a max 2-3 hours per day in the car and that extra you spend on a home or for other comforts you enjoy forever will be better spent. Just my opinion.
Totally agree with you, we bought a small hatchback 2 years old for S17K it’s been great.
I got rid of my car but hubby kept his to go to the golf club mostly! My car was costing £850 a year even not moving from the drive that’s equivalent to 80 taxi journeys in my city if it’s raining or late at night. The rest of the time I walk/cycle/catch a local bus/train. I don’t miss my car at all.
#1 rule is the buy only when you have the cash to cover it...BUT always use a credit card (cash back rewards) to buy everything providing it is FULLY paid off each month! Also, get FREE banking. With RBC if you have a online savings account, credit card and TFSA (etc) it's free (limited use of debit card withdraws from ATM).
Great advice Kevin buy it on the card to get rewards then pay 💰 it all off , free banking is available you just have to look for it Cheers and Happy Easter 🍷🐣🐰🍺
Agree about getting rid of the credit card but buy a bottle of wine to stay at home?
Sounds like a lonely life …..and my social life is going to end when it’s the time I’m looking forward to getting out. Now with no mortgage and a pension I plan to go out, socialise and enjoy the company of others. I don’t intend to start a business 🥂
Due to Covid Sandra we have had to make changes as bars, restaurants were are shut with us , we took up Facetime happy hours 🍷and have enjoyed hours of wonderful conversation although drinking in our own home . Happy Easter 🐣🍷🐰🌻
I print out the ingredient list for easy home delivery meals and duplicate them. Usually there's a youtube video to go with the recipe too.
That's a great idea! thanks for sharing Maria we hope you have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
You're such a sweet couple! Thanks for sharing your tips 😊
Glad you like them! 😀😀
I think it's wise to really think about what is bringing meaning to your life. You want to have a full retirement, but expensive restaurants are are a very fleeting experience.
We agree Laina everything in moderation maybe every now and then , to be honest in the past we have been very disappointed in the quality so really prefer to cook ourselves. Have a great Easter weekend Cheers 🍷🐣🐰🍺
Thank you for another great video! The big corporate owned gym wanted access to my bank account each month for payment. I was not comfortable with that so I signed up at the neighborhood rec center. They have a beautiful gym, personal trainer, etc. and costs me $35 a year. It is never crowded. I pay cash each year. It is only 5 minutes from the house so I can walk there.
That is awesome! thanks for sharing wow $35 an absolute bargain have a great week Cheers 🍷🌻🙂
Nice shirt Norman. Good tips., but what I would like to hear once is : You're healthier than you thought.
What a great saying Happy Easter 🍷🐣🐰🌻
I'm use the gym a lot and I see a lot of people spend money on memberships or equipment and never build the habit. Gyms are crowded in January as many sign up with new years resolutions, but the crowds are gone by February.
I think a membership could be good to learn what to do and what you like doing. Then, once you know what you want and have made some connections, a garage gym is the best investment.
All your suggestions are great. We're pretty frugal, which to us means that we only spend money when we see good value to us. I probably spend more on my home gym and my home coffee setup than most people, but I get great enjoyment from them. I don't get much enjoyment from eating out, so I rarely do.
Thanks for the videos.
Thanks for your great comment it is hard to put exercise into a regular habit , lots of folk start then stop really soon as you say . Have a wonderful Easter weekend Cheers 🍷🐣🐰☕️🌻
Like your shirt!
Pandemic changed a lot of things.
Got a pellet grill, started cooking more a home, something me and wife can do together. Big savings not going out to dinner.
And my cellar is better than most restaurants in my area, hahaha.
Stopped going to Starbucks, that was big expense.
Have done most of the things you've mentioned, we live a pretty simple life.
Biggest expense is that wine cellar...
Glad you like Norms shirt Frank, we hear you with the expense of the wine cellar LOL 😂😂have a great week Cheers 🌺🍷🙂
I'm glad you mentioned the "meal kits" and how expensive and calorie-laden they turned out to be. I was wondering about that and had considered them at one time.
We think you are better Karen just buying the fresh ingredients and cooking yourself, we hope you have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
These are all great frugal points! We seldom go out for meals. If we do, it's at a small privately owned diner much cheaper! The chain restaurants have incredibly high overhead, which is passed on to the customer.
We travel to the Caribbean in the winter using credit card points which my husband uses to pay for the expenses for his small seasonal business..
Thanks for all your tips on living a great life on a lower income!!😀
You are very welcome Bonnie glad you enjoyed it, hope you have a great week Cheers 🍷🌻🙂
Agree regarding the meal kits. They're still a lot of work too! You pay money just to do about the same work as cooking from scratch!
We totally agree Beth, they were worth a try to find out but decided they were not for us.
I was wondering about those meal prep kits. I got a few in the mail last week and it looked interesting but I think it would get expensive. Not a good weekend for me, feeling lonely. Stay blessed guys. Cheers
We are sending good thoughts to you today and hope the sun shines today for you.
To have a budget means that you have a plan and have made some conscious decisions about you life and don't just let things to happen to you. Sounds trivial, but doesn't make it less important or smart.
Life seems better and easier to have a plan especially when you are entering retirement Cheers 🍷🍺
@@ThisIsOurRetirement I agree, but people retire in different situations and with different abilities. Those who have medical or other problems, which force them to retirement, don't always have much control of their lives. Even people who retire without major challenges might be in such mental or other situations that they don't have the capacity to really make plans, or at least it seems like that to others. They just seem to slip to some pattern somewhat continuing their previous life styles.
We look forward to your videos every Saturday. You talked about cooking with an air fryer. I think a video where you take us grocery shopping with you and then show us how you prepare a favorite recipe in the air dryer would be interesting. Tell us what you like about your air fryer and why you picked it over others. By the way, I grew up in Alabama. The beach at Gulf Shores is so pretty. The sand is so white and soft. It looks like sugar or flour. I hope you enjoy your time there. If you rent a car you may like driving north to Foley, AL and go to the restaurant called Lamberts. They are known for throwing rolls to you. 😃
Hi Dawn, Thank you for joining us every Saturday we do appreciate it. We are excited to visit Alabama and on the drive down we are stopping off in Nashville. We have never been to Alabama before so another state to add to our list. Thanks for the restaurant suggestion we have started writing a list of suggestions we have been getting and will check them out. Enjoy your Sunday.
My husband & I have a different perspective regarding gym membership. We see it as an investment in our health. It’s a priority for us, so it is budgeted. We make sure to get our money’s worth by going at least 5x a week. We like the social aspect (the support from trainers & other members-who become friends) and the ability to do different workouts (I.e. yoga, Zumba, weights, cardio, etc.-changing workouts is better for your body...less injury).
It is great that you both can enjoy you gym together, we do worry about injuries so keep our workouts to walking and light weights. Thanks for sharing your thoughts have a nice Sunday.
happy easter guys. so true about with drinks I buy a bottle of wine here in dubrovnik for 5euro but in the restaurant half a glass of white wine is 4euro so I am now just buying my wine and beer from the shop and drink it at my accommodation.
That sounds great Dubrovnik is on our list we so want to visit there , have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
Great info today guys. We are always disappointed with restaurants. You are right our home cooked food tastes much better. We might order in once a month or once every couple of months now. We also tried the meal kits for about 6 months and stopped but kept the recipes and made a lot of them ourselves with cheaper ingredients. My husband and I play cribbage and scrabble and play a couple nights a week or also puzzles. We gave up drinking, we just didn't enjoy it anymore and for both our health we don't miss it. I agree with the credit card debt. We use only one credit card for everything and pay it off every month. We still have a mortgage at age 65 but that is our only debt. Just work out at home. I do a great daily workout on RUclips and have my own weights. We do as much as we can at home.
Sounds like you are enjoying life Sandi doing things that you both like to do which is great , we enjoy playing Scrabble too . Have a wonderful Easter weekend Cheers 🍷🐣🐰🌻🙂
Another great video Tina and Norm! My husband and I are happy that we’ll be going into retirement with good money habits
Wonderful! glad to hear that Darcell we hope you both have a wonderful Easter weekend Cheers 🍷🐣🐰🌻
Great tips! I stopped buying coffee long time ago. I just make it at home and bring it to work. And I totally approve Norm's t-shirt 🤘
Happy Easter 😍 🐣
Sounds great! have a wonderful Easter weekend Honorata Cheers 🍷🎸🐣🐰🌻🎶
We like to visit a casino occasionally, but we do that with a couple of rules: 1) Look at whatever you spend as entertainment- a night out at the movies with snacks would be $20-25 for 2 hours of entertainment. Spend same amount at casino. And 2) Never spend money you aren't planting to lose. Because 9 times out of 10 you will lose it. Thanks for the video, you guys are always so cute & funny, love watching you!
Guess we have the same rules Candy never gamble with an amount you cant afford to loose . It can be fun just like a night out we only do it usually if we visit Niagara Falls happy Easter 🍷🐣🐰🌻
Hi Tina and Norm this was wonderful! I believe that keeping a budget is the key to saving money, What I don't understand is why when you buy something now a days you need to always ask for the receipt as it should always be part of your purchase. I only have one master card, not only do I pay it off at they end of the month so I'm not charged interest, I also collect air miles. As I always say, I learn so much from your channel, thank you and have a Happy Easter!👍
Thanks Rosa glad you enjoy our videos we hope you have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
Great point regarding no debt - that is the number one key along with no mortgage . Lottery tickets are a tax on poor people . Both in retirement , my wife and I cook five times a week at home , order in once a week and eat out once a week - that works for us .Agree with memberships - we have weights and a treadmill at home - another key in retirement is to stay healthy so you can enjoy your retirement
You are right Scott no point having all those savings and not being fit enough to enjoy them. You have a great eating plan sorted out sounds wonderful. Have a great Easter weekend.
@@ThisIsOurRetirement You too, thanks
🍷🐣🙂
Another great video. I think we are doing everything you said already and we aren't even retired yet. Some very good tips here although i bought a stationary cycle a number of years ago amd I think it was the best coat rack Ive ever had. Recent visits to restaurants have been disappointing as well so we will start making more meals at home and probably enough for the week. I do have a lot of freezer tupperware to use. A good Sunday activity to cook together for the afternoon. I think Covide has really changed how we live and we will keep some of the habits developed. Thanks for a great series!!!
Yes why is that Al that treadmills and exercise bikes all become coat racks 🤔 cooking on a Sunday for the week great idea have a wonderful Easter weekend Cheers 🍷🐣🐰🍺
Some of what you touched on resonated with me. Almost 20 years ago I bought a $260 Starbucks Barista latte machine. It supplemented my daily latte purchase on weekday mornings. I certainly got my monies worth, but as the years passed the quality of drink diminished and I determined I could not afford the cost of having the machine professionally refurbished. I donated it to Goodwill, a lousy enterprise that no doubt sold it online for the cost of what servicing the machine costs. I cancelled my gym membership during the second-to-third wave of covid (the 6th is currently on record). I did so not only for the points you made regarding time, travel cost and the pitfalls of rewarding myself after a workout but because of the six or so treadmills available, only one had the bells 'n whistles that were meaningful to me. And apparently 95% of the other attendees as well because no matter the time of day, as early as 5 am to as late as 10 pm, one had wait for an opening while the other machines were idle. Then there was the fact that folks at the gym refused to mask up or wipe down the equipment with the sanitizer wipes. Conserving cash, for maybe the majority of retirees, is the primary concern.
Wow Atterol having a Starbucks machine at home sounded great , it is a shame at Gyms when others won’t show respect by sanitizing equipment etc so we understand you cancelling your membership. We have a gym here in our building but they all seem to use sanitizer etc, we use the pool 🏊♀️ and everyone wears a mask until they actually get in the water . It has been closed so it’s wonderful to have it open again. Have a wonderful Easter weekend Cheers 🍷🐣🐰🙂
Awesome! Thanks for sharing and have a wonderful day!
Thank you! You too!
You two are a treasure trove of wisdom and advice. Thank you for all the videos. I am retiring from Federal Service (U.S.) on May 31st and I am keeping your channel close by as I navigate this exciting new chapter of my life.
That’s great Frank we wish you a wonderful retirement 🥳 it’s a very exciting new chapter in your life we love it have a wonderful Easter weekend Cheers 🍷🇺🇸🇨🇦🐣🐰🍺
@@ThisIsOurRetirement Happy Easter to you.
You are a smart man, Frank. Many focus on the financial aspects of retirement, but there is so much more that needs to be considered. Norm and Tina touch on the wide spectrum of retirement topics. That's why I'm a subscriber.
As a 7 months FERS retiree want to wish you goid luck and give you a heads yo to plan on being in interim pay status for a number of months which you will receive around 75% of what you pension has been estimated at.
@@nightengale2123 I have heard this. I have cash saved plus I’m selling back a few hundred hours annual leave. Thanks.