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6 Ways to save Money in Retirement — 2 Comments

  1. I have an Open Office spreadsheet with all my income and expenditure which (currently) runs to 2016. Costs of utilities and insurance are estimated to increase by 10% each year, and my pension income by 2.5% until 2015 (2% thereafter).

    That allows me to see where I need to make savings – on “heavy” months, for example – and where I have “spare cash” to put aside as savings (with my local Credit Union).

    It also allows me to regularly reconcile my bank account.

    I shop weekly, with a fixed budget of £70. That’s for everything, including food for my dog and my tobacco. I haven’t spent that much each week for more than a year (normally £60 – £65). Things like washing up liquid and tea bags I buy from Poundland.

    Oh, and I always take a shopping list and a pocket calculator when I go shopping.

    • It certainly sounds to me like you have got to grips with budgeting. I think you will agree that by budgeting you have a far clearer idea on where your money is going and also much more control over it.

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