Budgeting & Spending

Budgeting, especially for the future can be tricky. Find articles below to help you reduce your spending, save more, understand inflation, know how much you can spend, strategize for emergencies and more.

Your household budget is a foundation of your financial wellness. When working, ideally you are spending less than you are earning and are able to save the balance. When you are retired, you need to be able to plan to spend less over your lifetime than your retirement income and savings withdrawals allow.

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retirement budget

Your Guide to a Foolproof Retirement Budget

The Scottish poet Robert Burns famously said, “The best-laid plans of mice and men often go awry.” That’s true about almost everything that you undertake in life. However, hoping for the best isn’t the greatest retirement budget strategy. You need a real strategy, and one that’s based on your life now (and the life that…

July 2, 2020
Retirement

Pennies Add Up: Saving for Retirement in Little Ways

Using tools like your employer’s 401(k) or automatically taking money out of your paycheck are tried-and-true methods for successful retirement planning. But if you can look for less obvious ways to boost your retirement savings, you’ll reach your long-term goals much quicker. Here are some little, yet highly effective, ways to save extra money for…

July 1, 2020
hidden retirement costs

The Biggest Expenses in Retirement

When planning for retirement, it’s important to save enough money to cover the essentials. While a financial planner may discuss earmarking funds to pay for daily living expenses, housing, and healthcare-related costs, one of the biggest expenses in retirement is something that many advisers may overlook. What Are the 3 Biggest Expenses in Retirement? According…

June 27, 2020
retirement checklist

Retirement is All About Spending, And Experts Say You Aren’t Spending Enough

If you are nearing or are already in retirement, you are about to change from being an earner and a saver to being a spender. You spent a lifetime amassing savings and other resources and now is the time to use these assets – assuming you can accurately figure out how much to spend in…

June 27, 2020
wealth inequality

Wealth Inequality: We Are All Affected, But Black Households in Particular

Wealth inequality is real. The disparity effects most of us. However, the black-white wealth gap is staggering. What is Wealth Inequality? Wealth inequality is the gap in net worth — your assets minus liabilities — between the wealthy and the poor. The differences in wealth between the rich and poor in the United States are…

June 11, 2020
help for seniors with low income

Help for Seniors with Low Income: Government Benefits and More!

Need a helping hand? Find help for seniors with low income The Big Takeaways… A significant amount of qualifying seniors don’t participate in low income benefits because often it’s hard to know what’s available. More options may be available to you during the pandemic. Tools like Benefits Checkup and the Eldercare Locator can help connect…

May 22, 2020
scarcity

Scarcity: Don’t Let it Steal Your Retirement

Worry about the scarcity of time, money, food, etc… can be a problem in lots of situations – including retirement. Learn how to focus on what’s important!

April 14, 2020
save more for retirement

15 Ways to Stop Wasting Money Everyday and Save More More for Retirement

You might not think of it this way, but most of us get scammed — somewhat tricked — out of our hard-earned money every single day.  Little expenses can add up to big bucks that we could be saving for retirement, spending on something you really need or want now, and being able to afford…

February 9, 2020
retirement spending

How to Create a Reliable Retirement Budget: Plan for Evolving Spending

Your retirement budget determines how much you will really need to have saved for a secure retirement. It is very important to get this right. While accurately estimating your expenses for the rest of your life is a daunting prospect, the right tools and advice can make it easy. Your retirement budget will evolve… Detailed…

July 25, 2019
retirement income 2018

Average Retirement Income 2019: How Do You Compare?

As more and more baby boomers head into retirement, there is a growing conversation about how to generate adequate retirement income from retirement assets. Even with some good economic news, many of us are going to come up short. Retirement income doesn’t grow on trees… But you can make it grow! According to the most…

February 26, 2019

The Retirement Switcheroo: 6 Tips to Flip Your Mindset from Saving to Efficient Spending!

Retirement is a big deal and a huge life change. You have a whole new lifestyle and need a very different way of thinking about your money. In fact, your financial mindset needs to get flipped upside down. You need to go from a focus on accumulation (saving, saving, saving) to spending (efficient use and…

February 6, 2019

Podcast: Jesse Mecham – Budgeting as a Life Altering Experience

Episode 19 of the NewRetirement podcast is an interview with Jesse Mecham — the founder of You Need a Budget, a CrossFit/PowerLifter and generally strong guy. We discuss why budgeting is a powerful life altering tool for him and their users, how they got started and what’s unique about how they educate people and build…

November 29, 2018
retired couple smiling at a park

Ways to Increase your Wealth (Make Money Today!)

Disclosure: Some links on this site, may be affiliate links. If you click on one of these links and buy from the affiliated company, then we receive some small compensation. The modest income helps to support our work. Affiliate links do not increase your cost, and we only use them for products or services that…

October 22, 2018
hand reviewing receipt

5 Easy Ways To Save More Than $5,000 (This Year!)

Review These Tried and True Ways to Save Money: In this article, we present five ways for you to save money. 1. Keep Track Of Your Accounts One of the easiest ways to save is to know how much you have to work with as far as your finances. Budgeting is an important part of…

October 8, 2018
financial resolutions

3 Easy Ways to Achieve Your 2018 Financial Resolutions: It’s Not Too Late!

According to a report by NerdWallet, in 2018 84% of people made financial resolutions.  If you are among these planners, but haven’t quite achieved your goals, it’s not too late.  And, it can even be relatively easy!  September, October, November, December… You still have four months to achieve your 2018 money related resolutions! Here are…

September 19, 2018
income gap retirement bankruptcy

The First Lifelong Victims of the Income Gap Are Retiring and Bankruptcy Rates Are Skyrocketing

If you made it into the ranks of high income earners, you are probably going to be okay in retirement.  If you are part of the working class, the news is not as great. The first victims of the income gap are beginning to retire and feeling financially secure in retirement will be difficult for…

September 6, 2018
shopping tricks

Spend Less and Save More: 10 Sneaky Shopping Tricks

You’ve probably heard this standard money-saving advice: If you want to save money, eat out at restaurants less and cook at home more. But it’s almost as easy to blow your budget at the grocery store as it is when dining out. Stores use some crazy shopping tricks to make you buy more. You know…

February 20, 2018
retirement

Expert Interview: How to Stretch your Retirement Dollar

The decade between has been tough for retirees and those nearing retirement, says Gary Foreman, founder of The Dollar Stretcher. “So many had counted on cashing out the equity in their homes to help fund retirement,” he says. “The crash of 2008 not only ended that dream, but also wiped out much of their IRA…

December 1, 2015
Retirement

Retirement Income Myth Debunked: Dying Broke is a Bad Plan

You may have heard this little piece of retirement advice: you should spend all of your money while there is still time to spend it. Though the notion of “dying broke” may appeal to many Americans, it is not the best advice for those who are approaching retirement. People are living longer and experiencing increased…

June 30, 2015
Cash flow

Expert Interview with Keith Whelan of Cash Flow Navigator On Wealth Vs. Cash Flow

Many of us want to be wealthy, but few of us realize what it takes to get there. That’s why Keith Whelan founded Cashflownavigator, a site that lets you track where your money goes and gives you the tools to redirect it. He was kind enough to speak with us about how to do more…

March 20, 2015
Retirement

5 Reasons You Want Good Credit as You Head Into Retirement

As you approach retirement, you have a lot on your mind. Deciding how and where you would like to spend your retirement years and making sure that you have the funds to do so are probably at the top of your list. Chances are that you are not thinking much about your credit score, but…

February 27, 2015
Retirement

Retirement Solutions: What Can Be Done about Soaring Car Insurance Rates?

Once you turn 70, car insurance is a whole new and potentially expensive ballgame. This could be the most wonderful time of your life, at least if you’re prepared for what’s up ahead in the road. But if you prefer to drive without a map, there might be some expensive surprises on your journey through…

January 22, 2015

Expert Interview with Lynette from Cleverly Simple About Fun, Frugal Living

Lynette Rice knows what it takes to live life to the fullest without overspending. That’s why she created her own website, Cleverly Simple, and shares what she knows with readers. Here, Rice shares some tips with readers looking to save money, cut back on overspending, and find ways to save on everyday items. Cleverly Simple…

January 20, 2015
Personal finances

Expert Interview with Deacon Hayes of Well Kept Wallet About Personal Finances

Old or young, it’s never too late or too early to prepare for the future, or just to practice healthy financial habits – to have more while spending less. Deacon Hayes and his wife were drowning in debt. They set out to learn how successful people handled their money and discovered they were doing it…

January 5, 2015

NewRetirement Planner

Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.