11 Expenses You No Longer Need in Retirement
From: retiredinamerica.com
Retiring early seems like a distant dream. But with determination, motivation and careful planning, you could become financially independent and able to retire early. In other words, become a member of the FIRE movement.
In order to accomplish your FIRE goals, you might need to make some sacrifices along the way and cut down or even downright eliminate some things you usually spend money on. If you want to know where you can start saving, take a look at what average Americans spend their money on and find out how to trim your costs to gain FIRE membership.
Shelter
Average household expenses in the US in 2019: $11,747
Would you like to minimize your housing costs? One way to do it is by getting a roommate to share the costs with. If you’re not ok with living with someone else, another option would be downsizing to a smaller place that fits your needs but also your budget.
If you are really fond of your current home but find it difficult to keep up with all the maintenance expenses, you could turn it into a profitable business by renting out a spare room or even your entire house when you’re not there.
Groceries
Average household expenses in the US in 2019: $4,646
Are you interested in paying less for your groceries? You’re not the only one. Many people use coupons to minimize their expenses, but this is not the only option.
One way to start saving money is by learning how to make your groceries last longer. This piece of information can make or break your plan to cut your food bill. You could also make some extra money and boost your income by delivering groceries. You’ll surely find plenty of people who lack time and could use your help!
Vehicle purchases
Average household expenses in the US in 2019: $3,975
New or used, cars are expensive either way. Maintenance, repairs and all sorts of tune-ups can put a big dent in your budget. One way to avoid such costs is to take better care of your vehicle so that it lasts longer and does not need to be replaced.
If you do need to replace it, opt for a late-model used car. You could find some used cars in great condition and save up to 50% instead of purchasing a new model.
