There are many things to look forward to when contemplating retirement. Curbing my spending habits to adjust to a significantly lower bank account is not one of them. I’ve had two bankruptcies in my lifetime and know full well how painful it is to give up spending habits – Starbucks was my hardest indulgence to do away with. I remember the agent at the debt restructuring firm I approached saying he’d never seen anyone spend that much on Starbucks. At the time, I would stop every morning on my way to work and often would make a second trip after lunch. And yes, that adds up.
So here I am, on the cusp of retirement, looking forward to having free time all the time with no higher-up around to rein me in and, at the same time, dreading the adjustments that will come – primarily the money thing. What will I have to do to live comfortably without forgoing heat or having to ask for Meals on Wheels to get by? Scary.
I made a list but I haven’t had the courage to put them in order yet from least offensive to part with to “I’ll never give that up” … and then having to do so. Here’s my list so far: Starbucks (yes, still a part of my life – just not every day), magazine subscriptions, fast food (well, truthfully, that one isn’t all bad), expensive things like meat (time to become a vegetarian?), using less electricity, trade my car down to something second-hand that I don’t have to make payments on, learn to cut my own hair, see if I can walk to more places rather than drive, cable television, dinners with the family once a month, buy generic brands at the store, and/or look for part-time work (sort of defeats the purpose of retirement but may be necessary). Who knows? Maybe I can even figure out a way to cut back enough in other areas that my Starbucks treats don’t have to suffer.