The Other Side of the Ledger: When Scrimping and Saving Aren't Enough

image: Mark Pell on Unsplash

Over the years, we've spent a lot of time sitting together at my virtual kitchen table, discussing the ups and downs of making ends meet on moderate incomes. We've celebrated the deals we've found on groceries and household items. We've discussed making substitutions that fit within our budget better than the standard options. We've detailed the frugal ways embedded into our holidays, vacations, and days' out so as not to break the bank. We've talked about being good stewards of the bounty we've been given. And this weekend we talked about the enjoyment we gain from many of the free experiences and opportunities in our lives.

But today I want to look at the other side of the ledger, the side that acknowledges that sometimes scrimping and saving aren't enough to offset expenses. In my own story, there have been seasons where no matter how tightly I pulled that belt, the math simply didn't add up. The budget didn't need another cut; we needed a bridge to cover the gap.

Together my husband and I have worked to boost our income at several points in our married life. We have both worked side gigs to bring in the little extra we needed in the moment. And now, as my husband and I approach the time in life when working income dwindles or even stops in many cases, we understand that we will have to rely on all we have saved or continue to bring in just a little extra. 

As we've been planning for retirement for basically our entire married life, we don't need to replace our household income entirely with a new income. We just need to bridge a gap of around $200-$300 per month between 401K distributions/SS and how much we'd like to have monthly. Doing so would give us some wiggle room in the event of unforeseen circumstances, or so we can enjoy a few of the more expensive luxuries like travel.

This desire for just a little more each month is compounded by the incongruency between how inflation affects workers compared to retirees. When you're fully employed and inflation in the cost of daily necessities hits, at least you can feel relatively assured that there will be some sort of cost of living raise at the end of the year. When you retire, cost of living increases in entitlement benefits tend to be small compared to the actual increases in your "just surviving life" bills. In retirement, we will still pay property taxes, medical/dental insurance and copays, grocery bills, and energy to power and heat our home. 

There are some help programs in place for some of these major expenses, but they are often only available for the very low end of the financial asset population. For those of us somewhere in the middle, where we have some assets going into retirement, but we are not truly wealthy, we need some sort of back-up plan to bring in additional income in those early years of retirement, while we still have health and energy going for us.

Let's talk about ways to bring in a little extra money in a dignified way, shall we?

The Professional Touch: Wisdom at the Desk

image: Bobby Barr on Unsplash

In our family, my husband and I plan to continue working in some capacity until we can't. My husband has the benefit of a long career in an in-demand field. In retirement he'll be able to leverage his expertise and either pick up consulting work, train others to perform the work he does, or write about his field. He has already completed a consulting job in his field, so he is fairly confident he will be able to find more work of that nature.

Hobbies That Fund Themselves

image: Eugenia Pan'kiv on Unsplash

On my end, since my work has been mostly unpaid over the years, I will leverage my experience as a homemaker, a caregiver, a scratch cook, a cottage gardener, home bookkeeper, and a small-time writer.  For me, it's always been about micro-gigs that feel more like an extension of my day rather than significant extra work. 

I have brought cash into our family's coffers over the years through babysitting, working a few hours per week at our church, writing for a newspaper, and sewing items for sale. 

A top contender for micro-gig work in this season of my life would use my gardening skills. I could start heirloom vegetable seedlings in late winter to sell,  using the grow lights I already have. Heirloom tomato plants and annual flowers are the most sought after plants in spring.  I could use an honor box (securely attached to a table) in our driveway on some early May weekend for the selling part. In our neighborhood, this would do very well. I could even turn a larger part of our yard into a single-crop, luxury vegetable garden to sell produce via farmers' markets or our local facebook group. In addition, I could garden-sit for neighbors who travel.

Other possibilities -- I could return to sewing items for sale by consignment in the gift shop where one of my daughters sells her artwork. I could also continue to hone my writing skills and write for other publications. Or, I could pull together some of my past blog posts into a curated booklet to sell. 

Those are the most logical possibilities for me considering my work experience.

The Reward of Breathing Room

image: 光术 山影 on Unsplash

If we have to make some pocket efforts to bring in a little extra in retirement, it doesn't mean we have failed retirement or frugality. In fact, I think that earning extra to fund a little travel is the ultimate in empowerment. Taking control of our retirement income means we decide how much is enough instead of sitting idly watching the money be depleted.  We will be able to look towards weekend plans with some breathing room instead of counting our last penny. In doing so, we will protect the peace and serenity that we've worked so hard to build over the course of our marriage.

My husband and I aren't quite there yet. But making plans now will help the whole process go more smoothly. Thank you for letting me share this piece of my own financial journey with you today.

Your Turn: I’d love to hear your thoughts on this side of the ledger. Have you ever had a moment where you had to pivot from saving to earning? What kind of gentle, flexible "pocket money" gigs have worked for you or your friends in retirement or other points in adulthood? Let’s chat in the comments below!

The Frugal Luxury Guide: Savoring the Moments Money Can't Buy

Image: Tapio Haaja on Unsplash

Last weekend we talked about the physical items worth spending our hard-earned money on. Now let's talk about the free experiences that feel like pure luxury, those that add a sense of abundance and indulgence without spending a single dime.

Redefining Luxury  

image: Debby Hudson on Unsplash

When we think of luxury, thoughts of plush furnishings, high-end vacations, or expensive watches and handbags come to mind. But as a frugal blogger, I've come to realize that the most profound luxuries in life don't have a price tag at all. True luxury is about stillness, observation, and what I like to call "found time." Today, I'm sharing three completely free experiences in my life that make me feel incredibly indulgent.

Sunrise and Solitude

Photo by Resul Baltacı on Unsplash

I wake up around 5 AM every morning, often before anyone else in the house. I make my coffee in that serenely quiet moment, one where I can be alone with my thoughts as my mind becomes awake. There are no questions about what is going on that day, no phone calls to answer -- there are no conversations outside of my own mind. I'm able to live in the moment for a brief period each day. I watch the sun crest the horizon as I sip my coffee. Upon opening a window to freshen the indoor air, I hear birdsong in those early hours. The core luxury here is the absence of demands—no phone calls, no questions, and no expectations. It is just me, my thoughts, and a hot cup of coffee.

Breakfast by the Water

image: Albert Stoynov on Unsplash

It's our family tradition in summer to spend a few of those glorious mornings at the beach. Bringing a thermos of coffee and a pan of homemade cinnamon rolls, we have breakfast by the water. It's such a great time to be at the shore. Early in the day parking is easy to find. There are interesting things to watch at that hour, such as the divers coming ashore from a dive in their wetsuits, or the dog-walkers strolling past on the sidewalk that lines the sandy beach. And the air is cool enough to not need to find a shady spot. 

One of our favorite waterside spots for one of these summertime al fresco breakfasts is a small boating community. In summer, folks moor their crafts at the marina in this town for their weekend getaways. We will sit on a bench at the water's edge with our breakfast in hand and watch the boaters as they slowly start their own days, coming up from the sleeping quarters below to their decks with their own cups of coffee in hand. We don't intrude on their moment of quiet. The core luxury is the enjoyment of the maritime beauty as a quiet observer. We don't call out or wave; we are simply sharing a peaceful, parallel morning moment with the world around us.

"Found Time"

image: Adele Nosova on Unsplash

There's a concept I like to call "found time." It's when a situation cancels the day's or hour's plans, like those magic moments when an afternoon summer rainstorm chases me out of the garden, or a meeting or appointment that I've dreaded for weeks drops off my schedule. I find myself gifted with unanticipated free time -- time to choose my next mini adventure. 

Vintage Inspiration

image: Annie Spratt on Unsplash

My favorite frugal way to spend this found time is an afternoon spent watching black and white movies or reading vintage cookbooks for free via Internet Archive online. Curled up under a fleece throw, I lose myself in a 1940s intrigue story or peruse 1950s recipes. I don't make enough time in my week to do these things, so when a block of time suddenly opens up, I try to do something that will delight my mind. The core luxury I'm describing is permission. Because the weather or circumstances made my plans impossible, I get to enjoy guilt-free relaxation.

The "essence" of frugal luxury is not about spending money; it's about protecting your peace, noticing the small details, and embracing "found time." The best things in life truly are free, if we just slow down long enough to notice them. 

Your turn: I would love to hear from you this weekend. Do any of my frugal luxuries resonate with you? Or does indulgence come to you in a different way? Does the thought of a giant stack of library books or magazines perk you up? Or perhaps a long hot bath with oils, a lit candle, and warm towel speaks luxury to you.  How about the moment you slide into a bed made with freshly laundered linens --  is that the moment you feel indulged? Tell me about your favorite free experiences that feel like pure luxury in the comments below. I'll be here all weekend, reading and responding to your thoughts on luxury.