Today, I have a special guest post from a reader named Kelsey. He is a retiree who understands the common struggles of living below the poverty line. This is especially the case when he lost my job. To overcome basically poverty, he started tinkering around his garage trying to earn money. Also, he found a few pen pals and these friends have helped him come up with ideas to help get back on his feet. I thought his story was interesting and his tips were great, so here is his post! Take it away Kelsey.
Unfortunately, throughout my life I’ve had to learn the importance of saving money the hard way. Periods of joblessness, illness, and struggling have had a huge impact on how I now live my life. I wish very much that the Internet had been around in my early years, so that I could have learned more easily the ways in which other people handle their money.
I’m settled down now and enjoying a comfortable lifestyle, but I know the same isn’t true of everyone. A whole 7.6% of people worry about their finances when they get old, the very time in which they should be enjoying their golden years instead. So I’ve listed here my recommendations for some small but significant things you can do to make extra money after you’ve retired.
Grow your own vegetables to sell
Not only does this save money (on the fuel you would have spent driving to the supermarket as well as the food itself), but also you get to know from the outset where your food came from! I now home grow almost all my vegetables and they’re a lot better than the store-bought ones I’ve been eating all my life.
Setting up your own vegetable patch is a fairly easy business, but you don’t have to do it all at once. Start with a few easy things, like tomatoes. Then move on to more and more – carrots, rhubarb, cucumbers, whatever you enjoy to eat! Bear in mind, too, that if you have any surplus you can even sell it to your neighbors. They’d be getting it for cheaper than they would get it at an organic supermarket.
Put your skills to good use
Maybe you really enjoy gardening, or find it relaxing painting fences, or love walking dogs? You can monetize these hobbies if you go about it the right way. Start a mini-business! Let your friends and neighbors know that there are certain jobs you can take off their hands. Maybe place an ad in the local newspaper as well and you should hopefully soon find yourself with a lot more disposable income than you would otherwise have had.
I chose the walking dogs option as I’ve always loved dogs. I walk them, feed them, and spend a bit of time with them while their owners are at work. Everyone wins – I get to enjoy the company of animals, the animals get to enjoy the company of me, and the owners get to know their pets are being cared for.
You’ll have to declare the income you make to the IRS, of course. But once word gets around that you’re a good and reliable worker, you might even end up with more money than you know what to do with. So you can always treat your grandkids, or go on a holiday, maybe even both!
Walk more, drive less for health and wealth
Have you ever really considered just how much money you spend on your car? I have. So I decided it was time to start really using my legs whilst I still could, and walk to places I would otherwise have just driven to. This doesn’t just save on fuel and car expenses, it saves on doctor’s bills too, as walking has an endless amount of health benefits. I now make it a point to walk every single day, come rain or shine.
This all applies to cycling too! If you have a bike, get on it! Don’t overexert yourself, but take gentle exercise every day and watch your energy and bank balance both improve.
Rent out space you don’t need
Do you have a room you’re not using, or a storage area you don’t need, or even a parking space that other people could use? You’d be surprised at how much money people are willing to pay for those things.
Place an ad in your local newspaper, or if you’re social-media savvy make a post on Facebook, advertising the use of your space for a reasonable price. In areas where parking is scarce, or areas where students come and go a lot, you might find yourself with a lot of offers. Vet your customers carefully, keep the space you’re renting safe and clean, and you’ve got a good thing going.
These are just four things out of many! Hopefully, you’ll be able to use them to help put your money fears to rest.
Are you ready to finally take control of your finances? Let my budgeting spreadsheets help!
Just fill out the form below and I'll send you the link to get the same exact budgeting spreadsheets that I use each month!
Included in the workbook:
- Monthly budget form
- Breakdown of savings form (for your sinking funds)
- Overview of your financial plan
I've been using these same forms since August 2011 and have grown my family's net worth 500% tracking our money using these forms!
Latest posts by Kelsey Tedeschi (see all)
- 4 Easy Ways To Make Extra Money, Even In Retirement - January 23, 2017