I love shoes, what girl doesn’t? Many years ago, a wise man told me to buy better quality shoes; they can be re-soled, and will last longer. I started down that path. It took a while to get used to spending a bit more per pair, but buying fewer shoes. This is the lesson that many people take into retirement. Budgeting is a big issue in retirement – spending usually declines in the areas of food, transportation, and personal care, (i.e.) clothing. Let’s take a look at how these areas of spending change in retirement.

Transportation is easy – if you are not driving to work each day, you usually spend less on gas and auto maintenance. Many people will eat lunch out almost every day while on the job, and there is often a business dinner. Once you retire, cooking at home becomes an art or hobby for many people, as well as a money saver. Then there are the shoes….

A work wardrobe generally cost more than a leisure wardrobe. There is less of a need for a suit & tie or the business dress, but we all like to feel good in what we are wearing. Buy quality clothing and shoes vs. quantity. Your budget and piece of mind will be richer through your retirement.

disclosures:http://www.hechteffect.net/?page_id=31