8 Ways Retired Boomers Can Live on a Budget This Fall

We all like to rag on boomers a bit, but the people who have the most knowledge are the ones who have been around the longest. The older generation has wisdom to share, and they do so freely and happily.

Middle-class Americans can use these amazing tips from boomers to help them learn how to live in the new reality of high inflation and low wages. After all, maybe now it's time to get a bit old-fashioned.

Cheerful elderly woman standing on black background.Photo byYAKOBCHUK VIACHESLAV/Shutterstock.

1. Build Up Your Pantry

Every time you go shopping, build up your pantry. Buy one non-perishable item that's not on your list or needed immediately. Make a habit of it. If you have extra money for one week, buy expensive items, like laundry detergent, dog food, or bulk items. If an item is on sale, grab a few and keep them for a rainy day.

2. Learn To Repair

Learn how to fix things and do basic repairs on your house yourself. There are so many great YouTube tutorials that can teach you how to do these things yourself. So next time the dishwasher breaks, don't call for the repairman or get a new one; try to fix it yourself.

3. Keep the Change

At the end of the day, grab all your change and put it in a jar or container. Then, you can use these coins for a special treat. If you have kids, you can get them in on it, encourage them to save money, and add it to the jar.

4. Second Hand Is Not Always a Thrift Store

Let's go second-hand! Shop for second-hand clothes and shoes. Not only can you dig through Goodwill bins, but you can also get good quality second-hand clothes from ThredUp, eBay, or other thrift sites.

5. Plan Ahead

Think ahead of the upcoming big expensive items you might have. Set aside money in an envelope every month so that when the Holidays come around or your property tax bill is due, you have the cash to pay for it.

7. Don’t Forget to Splurge Sometimes

You also have to live a little! Splurge sometimes. Saving doesn't mean always depriving yourself of what you want. Just like dieting, you will fall off the wagon if you are too strict.

Allow yourself Starbucks and go out with friends, but don't do it all the time. Just do it some of the time. Keep it as a treat, and don't forget to use your coupons and cashback apps!

7. Look Down

You don't have to buy name-brand everything, especially groceries. Look on the lower shelves for better deals. Often, products at eye level are the most expensive. Look down for the better prices and get used to buying generic brands.

8. Learn When Your Store Has Markdowns

Spend some time learning the days your favorite stores have their markdowns. For example, the store you shop at could always mark down their meat on a specific day. Pay attention, ask workers for advice, and plan your shopping trips accordingly.

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