September 9, 2008

Semi-Retirement

Posted in Uncategorized at 7:19 pm by bitsypieces

Hubby and I had hoped for early retirement, but it doesn’t look like we’ll be able to meet that financial goal. Instead, we’re now striving for early semi-retirement. We’re hoping that we’ll both be able to work part-time only by the time we reach 55 years of age… which is about 20 years from now.

For this to happen, we need to significantly decrease our spending and increase our savings. (It would be nice to increase our income, too, but that probably won’t happen any time soon.)

As a result, I need to re-dedicate myself to the idea of frugal living. I’ve been doing a lot of spending lately–particularly on baby items–and it’s time to rein in my wallet. I am thinking about a “spending fast.” No spending money on anything except essentials for 30 days.

Of course… what is an “essential”? That’s something that will require a little thought first.

Advertisements

1 Comment »

  1. Tiffany said,

    Whatis an esstenial – especially with a baby in the house. Are you getting her clothes from a second hand store. You can also find good deals on lots of baby clothes from ebay.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: