Most of us don't have the option to suddenly go out and make more money. Either we're retired on a fixed income, or we're settled into a job with small and predictable or nonexistent salary increases. So how do you put more cash in your pocket? Work the other side of the equation: Cut expenses.
[See One Move Could Boost Your Retirement Security.]
You can do that one of two ways. You can watch your pennies, never splurge, trade down on food, and beat back any generous impulse you have to overtip or contribute to a charity. Or, instead of penny pinching, you can find clever ways to save money that won't reduce your quality of life and will still allow you to be expansive and generous. The key is to cut back where it doesn't hurt, and where you're paying out, but not getting much back. Here are six ideas:
1. Go out to lunch. Everyone likes to go out to a restaurant. No one has to cook or do the dishes. The secret ingredient is to go out for breakfast or lunch instead of dinner. You get the same benefits at half the cost. You're less likely to buy overpriced alcoholic beverages earlier in the day, and you won't feel like you're a poor pensioner who can only afford to eat dinner at the 5 o'clock special.
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