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Afterretirement, your budget changes drastically.
You no longer have the income flexibility that you had while you were working.
Here are a few of the thingsBaker did to help save money in his monthly budget.
This makes having multiple cars no longer necessary.
Throughout our adult lives, my wife and I have always needed two cars in our family.
Living in Nebraska, you gotta drive just about any place you want to go.
However, after we both retired, we found that was no longer the case, Baker said.
Plus, I found a way that I could help offset a portion ofmy monthly car payment.
We have neighbors with a high schooler looking to make some extra money.
This can make your heating bill cost more each winter.
However, there are things you could do to minimize the air loss and save money.
A few years before we retired, my wife and I downsized into asmaller but older home.
We quickly realized that older homes arent nearly as insulated as new ones.
Our windows are original to the home, which is part of what helps give the home character.
Unfortunately, they are also terrible for energy efficiency.
We dont want to replace the windows because were afraid of what it will do to the homes appeal.
However, I now take precautions each fall before it gets cold.
Both my wife and I enjoy walking and working out to help keep ourselves in shape, Baker said.
Unfortunately, winter in Nebraska can get pretty cold and grey.
This makes being active a little more difficult.
This helps us stay in shape during the winter and doesnt cost us anything.
Meal Planning
One of the biggest expenses for many families is food.
My wife has always loved to cook.
During the winter, my wife will fix a lot of soup.
Not only do they taste delicious, but they can last for several meals, he explained.
We find that this helps reduce the amount of cooking needed and also the cost of meals.
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