Secrets of Single Senior Savers: The Financial Wisdom You Need
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“Sniff out perfectly good secondhand supplies.”
Sandi Allen has been divorced for 30 years, but refers to herself as “poor but proud”. Allen has been retired since 2001 due to medical reasons. In addition, she lives on just $716 a month, with $122 of that amount being her Social Security allowance.
The Oregon resident is all about being resourceful though. “I always told people I could eat sawdust and poop a two-by-four,” she jokes. In her early retirement, she’s found a passion for handicrafts, all which she obtains on a shoestring budget. Allen has 600 skeins of yarn which she got secondhand, beads taken from old jewelry, and fabric she that found.
Some of her best money-saving tips include:
Find friends at discount spots. “The ladies at Goodwill keep an eye out for the things I like,” she says. “I’ll bring them empty bags, which they always need, and they’ll call me if any crafting products come in.”
Stay organized in the kitchen. “Freeze meat, fish, and poultry in zip lock plastic bags, which keep foods flat. Then separate into labeled shoe boxes so items are a snap to find.”
Prevent big expenses. Maintain your car, and keep the house clear of tripping hazards.
“You don’t need a big space to live large”
Ingrid Lundquist is a 69-year old street photographer and a widow of 13 years. Her husband, Tom, passed away at the same time as they were renovating their art-filled California home that was located on a vineyard.
Despite being together for 20-years, the couple was married for just 8-months, so Lundquist didn’t qualify for her late husband’s Social Security benefits. Instead, Lundquist decided to downsize, and buy a smaller home in Sacramento. At the same time, her event-planning business took a hit, along with the economy. But, instead of dwelling on her misfortune, she discovered a new passion instead – photography.
Here are her best tips:
Get a job you can really enjoy. “A friend suggested work as an on-call usher so I could see shows free,” Lundquist says. The job helps her to cover property taxes and offers free access to the theater and art shows.
Find inspiration wherever you land. “I adore being back downtown. Doors are painted red, or orange and purple, and people drive cars decorated with graffiti. There is action, variety.” Additionally, her new inspiration turned into cash-flow. “I’ve won awards, sold pieces and published a book.”
Enjoy the night air. “To save on utilities, I turn off the AC and put the fan on to pull in a breeze.”
Multipurpose your possessions. By day, Lundquist’s dining table is her desk; by evening, she hosts dinner parties there. One set of dishes handles all her needs.
