Let Go Of Being Too Frugal: How The Baby-Boomer Generation Can Enjoy Life More
By guest author Jim McKinley at moneywithjim.org
For many people of a certain generation, it can be difficult to learn how to be more open when it comes to spending money on themselves. While it’s important to save and think about the future–especially 
when it comes to your post-retirement years–it’s also important to live life to the fullest and find ways to enjoy yourself. Whether that means traveling, spending time with your family, or treating yourself to an indulgence you really want, it’s okay to live it up sometimes.
Fortunately, there is a way to balance spending with saving. You can look for ways to pinch a few pennies here and there and cut back without giving up the things you truly want; it just takes a little creativity to make it happen. Taking advantage of senior discounts is a great way to save money, and you may be able to do it at places you’ve never even realized. For example, many grocery stores offer a discount on your total purchase if you sign up for a loyalty card, and everything from coffee to lunch could be a little cheaper if you just ask.
Keep reading for some great tips on how to enjoy life more without breaking the bank.
Plan Ahead
One great way to save money is to plan ahead in any way you can, from creating a savings account strictly for home maintenance to preparing for and even paying for your final wishes through an insurance policy; burial policies are an increasingly popular option for seniors, since they’re easier to obtain for people of all ages and health statuses, and because leftover funds from certain plans can be used for other expenses. You may be able to save quite a bit by planning now for what you want down the road, whether that’s a specific type of funeral service or making preparations to be an organ donor. While it’s never easy to think about these things, it can be helpful to do so now rather than later.
Cut your expenses
Take a good look at your expenses to see where you might be able to make cuts. For instance, if you’re spending a lot of money each month on gas or the upkeep of your car, you might look into carpooling or utilizing free ride services from your church or a local senior group. Once open enrollment rolls around, look for a health care plan that is less expensive for the year; you might check to see if there are supplemental insurance plans that can take care of your prescriptions at a lower rate.
Increase the size of your garden
Growing a vegetable garden can be hugely beneficial in many ways, from allowing you to live a more eco-friendly, sustainable lifestyle to giving you the opportunity to save money on your grocery bills. By growing the things you love to eat, you can ensure that your diet is a healthy one and cut way back on your spending when it’s time to go food shopping. If you currently have a garden, increasing the size of it to grow more fresh veggies is a great way to save money, because seeds and fertilizer are very budget-friendly.
Travel on a smaller scale
Many seniors want to take advantage of their post-retirement years by traveling. That can get expensive, yet you don’t have to deprive yourself of the fun of travel; it just might be necessary to take a trip on a smaller scale. Think local instead of national. Explore your city or a neighboring one and learn all you can about it. You don’t have to break the bank to get out of town for a bit.
It’s possible to save money without being too frugal and to have fun without going overboard. The key is to strike a good balance and to figure out the best ways to keep things interesting. With a little planning, you can enjoy life more without blowing everything you’ve worked so hard for.