Budgeting My Way To Retirement - Week 4

 

Today is the last day of January!  Our first month of 2020 went by very fast, but I'm very happy with how it is going so far.  I'm taking it one day at a time with intent and purpose.  Much more thought is going into my days and my actions.  It feels really good.

 

I had very good luck at the grocery stores

I love a nice productive day and my Sunday was exactly that.  My daughter and I headed out early that morning to run errands.  I had a list and four stops in mind, mostly grocery shopping.  We started at Fred Meyer, then went to Winco, stopped to drop off a box plus two big bags of donations at the thrift store, then Albertson's before heading back home to wash produce and put away groceries.  We took our time and came home with everything on the list but two items so I called that a successful venture.

 

Markdown meats from Albertson's was a happy find

After groceries were put away I ran a large load of laundry, tidied up around the house, fixed us a four course Chinese meal for our Sunday dinner and got some writing in and did some meal planning as well as some financial planning.  It was a very good day.

 

I stocked up on cheese $1.47 a package

I perused all of the new grocery ads that came out on Wednesday and determined there was nothing I needed so I did not do any more grocery shopping for the month of January.  You can click here to see what all I bought this past month and my final totals if you are interested.  I was very pleased with how I did.

 

I filed my tax returns

Wednesday evening I was able to easily finish up and file my federal and state income tax returns because all of my documents were ready ahead of schedule.  This year it appears the IRS is accepting returns and processing them earlier than usual, with refunds sent out within twenty one days.  We shall see how it goes and if I actually do get my refund any earlier than usual.  I'd be pleasantly surprised if that was the case.  I have big plans for that $$.  Can you guess what I'm planning to do with that money?  If you said save it, you are correct!

 

Lots of fresh green salads last week

Saturday was another wonderful and productive day as I enjoyed being home and puttered about the house.  First thing was to take out a ham bone and a container of the drippings from our Christmas dinner as well as some onion scraps I'd saved in a bag in the freezer.  I placed that in my largest slow cooker with a large carrot and the center stalks from a bunch of celery along with three quarts of water and let that simmer all day.  Once that was done I removed the meat from the ham bone to add to soup and strained the broth.  I saved the carrot and celery for the chickens and tossed the spent bones.  I saved a quart of broth for soup and froze the rest to use later.

 

I made ham broth to use in bean and split pea soups

I got my living room tables dusted and polished, the floors vacuumed and mopped and even cleaned and tidied a few drawers in the kitchen.  A clean, neat and organized home does wonders for my soul.  I feel completely calm and relaxed. 

How was your final full week of January?  What thrifty things did you do?

 

This Month's Grocery Spending - January 2022

 

This month I only went out twice to do my grocery shopping (January 2nd & January 23rd) and per my usual I went armed with a detailed list and shopped at several stores to get the items I wanted at the prices I was willing to pay.  With shortages affecting each store differently you pretty much need to go to various stores in order to get everything you need these days.  To save time and money I always plan out a route that is most efficient and drive in one big circle.  Fortunately, every store I typically go to lies within a five mile radius of my home so I have a lot of places to choose from without involving a ton of driving or a ton of time.

 

At the beginning of the month we didn't need much, mainly dairy & fresh produce

Freebies!  Thank you very much Albertson's!

I employed a variety of ways to shave the cost off the groceries I ended up buying this month.  I scoured the ads, checked store websites for special offers, free offers and digital coupons.  I used coupons that came in the mail from Fred Meyer and maximized my savings by waiting until the items I wanted to use those coupons with went on sale.

 

50% OFF lowest marked prices

Markdown & sales produce plus a FREE bottle of salad dressing

Meat prices have really soared so finding good sales and well priced markdowns was a bit of a challenge, but not impossible.  I was able to get a good price on some ground beef and used one of my Fred Meyer coupons to shave off an additional $1.10 from the sales price.  I used a $5 OFF Produce coupon I received in the mail to cover the cost of items I picked up on sale or markdown.  And I was able to pick up several items at Albertsons for FREE using a $25 gift card I received as part of a pharmacy promotion when I filled a new prescription last summer.

 

A few extra items added to the prepper pantry

I even managed to get a couple small prepper pantry hauls completed.  In my first grocery shop at Winco I picked up two jars of pesto on sale for $1.98 each.  Then, this past Sunday, I stumbled across a price reduction on canned tomatoes and canned vegetables for 48¢ a can so I picked up $5 worth of canned goods to add to our current supply.  Every little bit counts.  The $9 for these items is included in my regular food budget as this year I do not have a separate prepper pantry budget.

 

Albertsons provided citrus, milk, bananas & meats from the markdown bin

A few more items from Winco

The only nonfood item I purchased was a bottle of vitamins at Trader Joes for $3.49.  The final total on my food purchases came in at $66.18 leaving me with $33.82 left in my $100 budget.  I was really proud of that.  I was even happier with all of the delicious, nutritious and thrifty meals I created.  Even better is the fact that most of what I purchased on my last shopping trip is going to last well into February and some of it well beyond.  Some good investments into our culinary future.

 

Fred Meyer haul - produce, meat, cheese $1.47/pkg, eggs, tortilla chips

How did you do with your shopping this month?  Any great buys or opportunities to stock up on anything?

 

A Shopping Cart

 

One of the things I am doing this year is investing in some carefully thought out items that will make my life better and improve my quality of life overall.  The first item I have purchased is my very own shopping cart.  Why?  Well, because it will make my life easier and much nicer.  One of stores I shop in, Fred Meyer has some of the mini carts that are the perfect size for me, but stores like Winco and Wal-Mart have the much larger carts.  Wal-Mart does have a few of the smaller carts but they can be difficult to find.  Albertsons used to have them, but they have since opted for a mid size cart instead, which is still pretty big.  Factor in that most of the carts are dirty (which has always been a concern of mine, even pre-pandemic) or in desperate need of repair or replacement and it makes my favorite chore so much less pleasant, especially when you have to fight your cart to go straight, or the wheels squeal so everyone can hear you coming.

 

Check out the hot pink wheels!

By the time I'm done fighting my way through the store with the cart and load up my car my lower back is usually pretty angry with me and I still have to get the groceries into the house once I'm home.  I realized that once I'm home I can now reload my cart and take them all inside in just one trip. Since I have weight limits now on how much I can lift at any one time this is an excellent option and much safer.

 

It drives like a dream

The cart I chose is definitely not cheap which makes it an investment piece, for sure.  But, compared to what some people spend on a stroller to lug their kiddos around in, it seemed reasonable.  Plus I didn't want something cheap that wouldn't hold up or caused me frustration as that would definitely defeat the purpose of why I have it in the first place.  And I like that this cart operates along the same measures as a stroller in how it collapses down and pops back up.  It is German made, very rugged and drives super smooth.  It sets up and collapses easily and quickly too.  I found it on Amazon if you are at all interested in more details.  I used a discount coupon to shave 10% OFF the price and paid the rest with money from my annual Christmas bonus so it did not affect my 2022 budget in anyway.

 

I think it is the perfect size for me

I know a shopping cart may seem like an odd choice but for me and my particular situation I think it is a perfect option.  I wish I'd had it with me when I did my trip to Minnesota last fall.  It would have been ideal for hauling my stuff in and out of the hotels.  But, I will have it for next time so that makes me very happy.  In the meantime I plan to enjoy my thrifty shopping adventures even more.

 

 

Budgeting My Way To Retirement - Week 3

 

I literally began the week how I ended the previous one by spending quality time in my craft room finishing up a gob of Christmas gift tags to replenish my supply in my gift wrap organizer.  We had used up the last of the tags I'd made a couple years back so we were definitely in need.  I love making gift tags, especially by using up scraps of things I'd collected from making greeting cards.  Now my scrap bin is pretty much empty, the pocket in my gift wrap organizer has been refilled and I'm ready to make greeting cards again.

 

With Monday being a federal holiday, Martin Luther King Day, I pretended I was a government employee or a student and took the day off.  Last year I wanted to schedule myself a gob of three day weekends throughout the year, and although my plans got derailed, I still think it is a great idea so I'm trying it again this year.  I've already scheduled myself off for President's Day next month.  Fingers crossed I get no unexpected surprises this year.

 

Payday was Thursday and I was thrilled to be able to take my entire paycheck, along with my Etsy earnings so far, and push it all into my savings account.  I also started working on my income tax returns for 2020.  So far things are looking better than I could have hoped for and I'm excited to get them completed and filed by month end.

 

Once again I didn't do any shopping last week, however I did go through the store ads and put a handful of items on my list to consider buying this week.  I will let you know if I ended up doing that in my next budget post.  In that same vein we were really good with our food use preparing nutritious meals at home, using items we already had on hand and making sure we kept food waste to a minimum - mission accomplished! 

Another great week in the books!  How about you?  How was your week?

 

Retirement Income Plans

 

As I enter retirement it is hard for me to imagine no more income coming in.  I've had a job of some sort since the age of nine so to have no income probably wouldn't set well with me.  I've always managed to have multiple income streams throughout my life and although I won't be working full time at a regular job I do plan to continue with my other income streams.  I love to make things to sell in my Etsy shop and I've got a lot of fun things planned for that.  I enjoy thrifting and reselling items on eBay and I'm considering doing some of that on Facebook Marketplace as well, primarily with refinished furniture pieces.  I love to rehab and refinish furniture.

 

A part time "fun" job may be in my future too.  I wouldn't mind working part time simply for the social aspect of it, but it will need to be low stress and really enjoyable for me to even consider it.  I'm sure I'll be able to find something that meets my criteria if I choose to do that.

 

Once I turn 62 (right now I am almost 57 1/2) I do plan to file for Social Security benefits and that will be a nice bonus to receive each month.  Until then I'll be working off of the allotted funds I will have already set aside for early retirement and at age 59 1/2 I'll be able to access my retirement accounts.  I'm not really worried about money, but it would be nice to have that little bit of extra income coming in from time to time as well.  The nicest thing for me is that a job won't be a necessity and knowing that gives me great peace of mind.  I will thoroughly enjoy doing things at my leisure and if it brings in a little extra cash then I'll be very happy about that.  After all, isn't that what retirement is supposed to be all about?  Fun and leisure?  I think so.

Thrift Leads To Abundance

 

My grandparents and my great grandparents (I'm sure their grandparents as well) knew that thrift leads to abundance.  Thanks to them I know it as well.  Whether by need or desire being thrifty and wise with our finances and our resources makes all the difference between merely surviving and thriving.  Born out of necessity, I took on a thrifty lifestyle the moment I stepped out of my parents home and started living on my own, maybe even a bit before.  I didn't have much when I got started, but one thing I did have was a lot of determination.  I also had gleaned a lot of information and some skills from those who knew what they were doing.  I read books, spent time with neighbors that grew a garden and canned food, spent time with my grandparents and learned a ton from my parents.  I was fortunate to grow up around very resourceful people.  One thing I want to be clear about is thrift or frugal does not mean cheap, not at all.  Thrift simply means using money and resources carefully and not wastefully.

 

This year I plan to be extra thrifty meaning that before I spend any money I want to really think about it first and decide whether I really need to spend.  Of course the mortgage and utility bills will need to be paid, but what about other spending?  Food, clothing, toiletries, supplies, insurance and even furniture can be much better thought out.  One thing I do and will do even more is to ask myself some questions:

 

"Do I need it?"

"Is there something I already have that I can use instead?"

"Why do I want it?"

"How much will I use it?"

"Can I borrow it?"

"Can I buy it used?"

"Could I get it for free?"

"Can I make it instead?"

"Can I get by without it?"

 

I am very blessed with abundance.  My needs are few and my wants are even fewer.  Still, I know I have room for improvement and with lofty goals to save up for early retirement I want to make sure I am making the best decisions I can.  In the process I will be a good steward.  I want to be resourceful and not wasteful.  In doing so I will continue to be blessed with abundance.

 

Budgeting My Way To Retirement -Week 2

 

Sunday morning I spent a big chunk of my day crafting.  I used items I already had on hand to create some Christmas greeting cards which was a ton of fun.

 

In that same vein I used items I already had on hand to create some delicious, healthy and economical meals for my daughter and I.  I made an Asian beef noodle soup using the bones from our New Year's day prime rib roast to make a delicious broth.  I used up a thick slice of ham I had kept back from our Christmas ham to make an egg and potato breakfast hash for supper one night.  I also made a batch of crack chicken to serve over rice.  While I was cooking I was able to use up odds and ends of condiments and other leftover items we had in the fridge.  We ate up all of the leftovers throughout the week so there was no food waste.

 

Tuesday I received a rebate check from our auto insurance company for safe driving and no claims.  I also received a packet of coupons in the mail from Fred Meyer which included an offer for a FREE bottle of salad dressing.  Yay!  FREE stuff and money is always appreciated.  I plan to put the rebate check right into savings and use the coupons to offset any future grocery expenses.  I also sold a couple items from my Etsy shop.  I was super excited about that!

 

The grocery ads weren't tempting me so I opted not to do any shopping this past week.  We'll wait and see how the next ads look and go from there.  Other than a couple produce items my list is currently quite small so I can happily wait to shop.

 

Saturday I began a relaxing three day weekend in my craft room.  I pulled out all of my Christmas themed paper scraps and made two dozen gift tags to replenish my supply for the next holiday season.  It always feels so good to make something useful, especially using up items that might otherwise have made it into the trash.

Two weeks into the new year and so far, so good.  How was your week?

 

Tracking Income & Expenses

 

We all want to make wise decisions with our money, but how do we know what we have and where it is going?  It is impossible to properly manage our money unless we track it.  Just as if one were managing a business this same principal should be applied to our home finances as well.  Tracking doesn't just tell us what comes in and what goes out, but it is a great tool for projecting future expenses and figuring out where our money could be better spent.  Having this information also allows us to set realistic budgets that actually work.

 

If you have consumer debt I strongly recommend you get rid of it.  All of it.  Credit card debt, car payments, student loans, all of it.  Gone.  The only debt I am personally comfortable with is a mortgage and monthly living expenses.  Anything else equates to financial wastefulness.  I don't know about you, but I work way too hard to waste my money.  Sometimes debt is unavoidable, but if I do incur any debt I do my best to get rid of it as fast as I possibly can.

 

I like to use an Excel workbook to track my income and expenses.  I create a new one every year and I log everything that comes in and goes out.  I keep a tab that homes my Financial Statement and update it quarterly so I always know my net worth.  One tab keeps my budget, another all of my food and nonfood expenses, another tab for savings & retirement accounts.  I also have pages to track expenses related to vacations, home improvements and gifts & holiday expenses.  I use all of this information in order to project future savings and expenditures.  As such I am able to find ways to increase savings and reduce expenses.  All of this data is very important to me right now to determine when and how I can retire.  My yearly Excel workbooks provide me with a wealth of information.  Without good solid information it would be impossible to know exactly where I stand financially.

 

Presently, at any given time, I know exactly how much money I have and how much money I need to earn in order to pay my bills and buy what I need while preparing for my future..  I am able to set financial goals and meet them.  I am aware and in control of my finances.

 

Living Slowly & With More Intention

 

Time has a tendency to get away from us.  Stress and anxiety has a way of creeping into our every day and taking hold.  Outside influences such as crime, the new, social media, negative people, our jobs, heavy traffic, etc. wear on us.  Poor health, general unhappiness, lack of enthusiasm and depression can be the result of all of these things.  That is not how I wish to live my life.

 

I am generally a happy and positive individual, which oddly, has a tendency at times to make me rather unpopular.  Why?  Because misery enjoys company? Perhaps.  I can tell you I'd much rather be unpopular than miserable and unhappy.  I also have no desire whatsoever to keep up with the Joneses or participate in the rat race that consumes so many.  I've never been that way.

 

Even still, I do know I can improve my simple happy little life by living slowly and with more intention.  Putting more thought into what I do each day and why I do those things.  Taking my time while I do things and enjoying the process.  I've taken to relishing the fresh air after it rains, the smell when snow is about to fall on a crisp winter day, the warmth of the sun when spring arrives, blue skies on a hot summer day and the crunch of the leaves under my feet in fall.  The full moon in a dark sky is one of my truest pleasures.  I love that moon.  It is just stunning.

 

I take more joy in preparing and sipping my morning coffee.  I take more time to prepare and taste my food.  Even to fold my laundry.  When I go out to feed the chickens I take time to visit with them and really enjoy the fact that I have chickens to begin with.  I spend time with my kitties.  I spend time with myself.

 

I disengage from the world outside and I rest my mind as well as my body.  I fuel myself with good food for good energy.  I prefer to be kind and polite as opposed to in a hurry and too busy to be considerate.  I have a strong desire to be a good person.  In all ways possible.  I want to think more, learn more, do more things that bring me joy.  I want to be present in the moment.  I want to go to bed each night feeling like I got the most out of my day.  I want the very best out of life.

 

Budgeting For Retirement -Week 1

 

How did my first full week of 2022 and preparing for retirement go?  Well, let me tell you.  I was very fortunate to start out the new year with a full tank of fuel in my car (I had to use up some fuel points by year end which saved me 10¢ per gallon), $20 cash in my wallet, $65 in my checking account, a growing change jar in the cupboard and a stack of gift cards in my dayplanner.  My pantry and the chest freezer in our garage are full and I had loads of leftovers in the fridge and freezer in our kitchen.  We were blessed to begin a new year with plenty and I am so grateful for that.

 

A salad made of leftover items in our fridge

In the interest of being frugal this year and our desire to not waste anything I made meals last week using up items I had in the fridge and had squirreled away in our freezer.  I made a meal plan based on what I already had on hand and supplemented with a small grocery shop for fresh produce and some dairy.  Before shopping I had checked the sales ads, which didn't have anything I needed, so I chose my stores based on best quality and pricing - Winco and Trader Joes.  This was literally my first outing of the new year and since they are both located close to one another it was efficient as well.

 

My little grocery haul

I packed my lunches to take to work using leftovers, my insulated lunchbox and one of the two Sponge Bob ice packs (they belonged to my daughters when they were in grade school) I keep in the freezer. I rotate the ice packs each day.  I also made myself a nice flavored coffee (with no sugar) each day to take to work in an insulated travel mug my daughters gave me one year for my birthday.  I choose not to spend my money on lunches out or delivered or on coffee drinks.  I could not tell you the last time I did.

 

I picked these up to add to our prepper pantry

We ate really well last week.  I made a Thai Curry soup that was phenomenal, used some of the leftover Christmas ham to make pork fried rice and a reuben sandwich.  I also made some pasta with home canned sauce.  I am super proud that I didn't over cook, we ate up all of our leftovers (even a few items from the previous week), kitchen scraps went to our chickens and anything extra I put up in the freezer to use later on, minimizing food waste.  The frozen extras will help me make really quick and economical meals.

 

Our veggie bin was replenished with loads of fresh produce

I got my first paycheck on the 5th.  I paid the mortgage an entire month early, the power bill was paid in December with extra money I had left at month end, the sewer/trash and internet bill was scheduled using my credit card (I earn points and then will pay it next month before the bill comes due and interest accrues), set aside money for our February grocery budget (I set aside funds a month in advance so I am able to shop whenever I choose rather than having to wait for paydays), set aside funds to fuel my vehicles and take care of any small miscellaneous expenses and paid the water bill.

 

Simple meals kept us well fed last week

I mended a small hole in my favorite sweater.  Thankfully it is in an armpit so it will hide my terrible stitching.  Sometimes I do pretty well and sometimes I wonder if I even know how to sew.  LOL.  But I got the job done and that is all that really matters.

 

Before

After

Saturday morning our weekly FREE offer at Albertson's was a 12 pack of flavored seltzer water.  My daughter went to the store to pick up one for each of us using our rewards cards and now I have a full case of flavored water to add to my pantry stash.  I was super excited about that!  Then I spent the majority of the day in my craft room making greeting cards using up items I already had on hand.  Getting some crafting time make me even happier and was the perfect way to end the first week of the year.

 

A reuben sandwich with leftover curly fries I found in the freezer

How did you do on your first week on 2022?