START THINKING ABOUT SURVIVAL
- We are all worried about the fiscal cliff, the constant increase in the cost of living, and the reduction in funding to seniors from Uncle Sam.
- Started by mapping out your monthly projections for income and expense.
- Reduce expenses wherever you can. If you smoke or drink or get your nails and hair fixed up frequently consider reduction in these areas, or at least total up the amount you spend on them any year and determine if you can really afford it.
- Expect increases in electricity, propane, gasoline, and especially food.
- Expect net reductions in Social Security benefits, via an increase in the cost of living.
- Consider sharing your living space, and living expenses, with another person. This is always difficult and most seniors greatly resist the concept but the benefits are worthy of active consideration.