To ask is it possible to have a good , by choice frugal life - anyone done it ?

[Ohmahgaws]

i do not meannto be insensitive re col .. it has affected us too and the below decision s.

Dh and I are early 60 s.
We both worked after graduating in public services jobs , which we loved .

When we hit our late 50s .. we decided to give up our careers and now we both do cleaning jobs for minimum wage x2 days a week .

We have occupational pensions. As I worked pt after dc born , mine is £ 480 pm and dh is 1.5 k .

We downsized and went to live in the country in a small house.
We did so in the basis that if we did not like it , we would move back to our old city which we also loved . So far , we love it 4 years in .

we live very simply and mostly soend our money on going out to local gigs and drinking as well as we help dc out when we can .

dh looks ten years younger .

I feel bad sometimes that we are not working in those high pressure jobs we did before and that we have gone from a joint income of 73k to less , between us, than a full time minimum wage job as it means that we are not building income and cannot pass it on to dc .

i also miss - occasionally.. going out for meals , holidays abroad . .. we need to be mindful of our income at all times really . And missing spluging occasionally ! I also kind of miss saving . .. the ability to do so ( we have 30k and no mortgage .. and it womt be increasing)

has anyone else made this lifestyle choice - i mean as a actual choice - to live simpler no holidays abroad etc and if so have you found it sustainable in the long term?

Your income sounds fine to me 2k before doing any work is pretty good. Why did you not do something that will earn you a bit more to tide you over before state pension kicks in. If you want to keep cleaning just do a few more hours. You can travel cheaply to Europe etc especially during term time etc, keep a bag packed and look out for last minute deals.

I’m struggling to see the problem here tbh.

That’s because they weren’t in high flying city jobs, they were in high pressured public sector jobs. Never as high paid!

I'm younger. On less money from universal credit. It's not bad if you enjoy second hand stuff. I literally only buy underwear new all other cloths second hand. All toys second hand. Kitchenware etc everything second hand. I enjoys finding a bargain so it's not a problem for me but when the kids ask for stuff I can't afford that's hard.

It's the holidays I guess is the big thing. I have a disabled child who can't cope with being away from home so again doesn't bother me, well it does I just don't have a choice.

If you have savings for car breakdowns etc that's the main problem with such a low income. 2 or 3 big bills in a month and I'm skipping meals so the kids have enough. You own your home so could get big bills. Last month was car and then the boiler after i just paid out for house maintenance and I have maxed every overdraft I have to get through, borrowing off family. This is what I hate about being poor. With savings that would be fine if you just used them and then build it back up

Haven't done and it and wouldn't want to. There is so much uncertainty and things are getting much more expensive, prices won't be coming down. I also want to support DC as much as I can.

However the flaw in your plan, imo, is that you are worried about how much you have now but how long will you be able and want to do cleaning? It's a physical job, not great as you age? Personally I would prefer to a wfh low wage job rather than cleaning

Sounds like you’re doing just fine! You have a decent pension income, the ability to pick up more hours if you need extra cash, and presumably full state pensions coming.

I’d personally rather have more cash in savings as I think 30k could disappear very quickly if you need a new boiler/car/roof etc, but overall you will have a lot more disposable income than many families.

We lived frugally when we earned a significant amount, as we overpaid the mortgage and wanted to save as much as we could.

We did that, and took early retirement and moved to France. We still have our UK house, which is rented out which brings us income.

We can't work here, because we are on a visitor visa as inactive, so rely on income from the early draw down from pensions and the rental to keep us.

We get less per month than you, enough to meet the visa requirements, and still manage to save.

I'd say we were pretty frugal, we grow a majority of our own food and only really buy what we need.

I'd wonder to be honest, exactly how much you are drinking if you are having to ask the question on that income if that is all you do.

Could you do house swapping to afford holidays?
Could you babysit one evening a week? If you watch TV at home in the evening, it’s not so different. That might give you enough money to eat out. Perhaps there are offers (there are various cards that give discounts off meals, plus vouchers)

It sounds like a lovely life, OP.

Sometimes you get to a stage where you can run your health to the ground (physical and mental) by staying in a high paid job and what's it actually for?

If your needs are covered by your pension/ savings, then you are winning.

You’ll be bloody loaded as soon as you get the state pension! I’d not worry.

Ah!

I plan to do similar to yourself, we akready have a small country house but its v expensive, however will be paid off by the time we are in our 50s and then we can both take it easier. DP wants to be a handyman taking jobs as it suits and I'd like to work with animals. We wont miss foreign holidays, we do like eating out but think our pensions will allow this if the house is paid off. Neither of us has extravagant taste in clothes and jewellery etc!

Maybe try actively saving for a holiday abroad with your current income/make a proper budget and see how you get on.

If you try it and you just can’t then pick up some more hours temporarily and ring fence that money for a holiday.

Good on you!

I moved from London a year and a half ago to a small seaside town and I feel so much better for it. I am 53.

I have no car, don't go on expensive holidays (I have done a couple of short breaks in the UK & Europe though) and buy my clothes from charity shops.

However I still have a small mortgage to pay and my old house needs some work. The plan is to replenish my savings so that I have enough to cover potentially expensive repair works then I will just get a stress-free part-time job to get me to retirement.

If you're earning about £120 a week each (assuming you each work around 6 hours a day twice a week) plus £2k in pension you're on about the equivalent of a £45k a year job, with the tax code split between you so pretty good monthly income.... our income is around £3400 pcm for a family of 6 still paying a mortgage and our life is far from "frugal"... I mean it sounds like an amazing choice you made and fwiw (ie nothing 😉) I personally think it's the right one but please do consider enjoying yourself a teeny bit more - if holidays and meals out are indeed things you'd enjoy. You can definitely enjoy it and you don't have the pressure of "saving for a rainy day" like much younger people as you've already made it to retirement.

My DH and I are retired with an income of about £3k a month, very similar to you and we also have no mortgage. Our bills are high (council tax almost £400 per month, gas/electricity about the same). We live very comfortably on £3k. We run two cars. We eat out once or twice a month, and go to the odd show or concert. We have two holidays a year. What are you doing with your money? You really shouldn’t be struggling unless maybe you’re subsidising adult children or something?

Mortgage free, pensions of 2 k a month and a small wage from 2 part time jobs is living frugally?!!

We both retired at 55 from the NHS, combined pensions of 1k a month.

Small house, mortgage free. Spend our days on hobbies and the grand kids.

Per month.

Energy £ 95
Water £22
Council tax £150
Food £300
Insurances, TV licence, broad band, other bits and bobs £100
Petrol £100.

Only 1 car. No going abroad but then when it's sunny in the UK, we are free to enjoy it. Car will have to last until state pension, but it will comfortably.

So out of out grand a month we have a bit left over for fun, maybe a meal out or a gig.

That's frugal and I think we live like kings.

It does help we have about 40k in the bank for bumps in the road to tide us over until state pension.

I think as a related issue, you should look at your expenditure, as I wonder what your version of living frugally actually is?

2k + some wages per month seems plenty to live on

You should be able to afford some holidays
Look at times that are not during school holiday times, not Easter, not summer, not half terms, not Christmas

Have you both checked your state pension forecasts? I gather you completed your service and now receive your occupational pension so chances are you were both 'opted out' so likely to not get a 'full' state pension.
If your very part time jobs pay NI contributions that will help. If, however, it's cash in hand or self employed your NI contributions won't be increasing.

3 grand a month is a bloody fortune to a lot of people, especially without mortgage or rent. Definitely not frugal or a simple lifestyle.

I think downsizing and leaving high pressure jobs is a good move, but personally I find cleaning very hard work, especially as I get older so it wouldn't be for me. But if it works for you it's all good, and tbf you still have a reasonable income.

It sounds like you’ve got £3k a month hitting your bank accounts each month and have no mortgage?

You shouldn’t feel like you’re living frugally on that that sounds like a very comfortable life to me!

On those wages I don't see the need to be frugal.I have half that amount coming in ( no mortgage) and I m not frugal and have holidays, heating etc. Plus if you have pensions, you must have got considerable lump sums too.

I think you need to clarify if you do indeed have 3.4k a month

If so that is quite enough and then some if you are living frugally

Personally it depends what you want out of life doesn’t it?

Do you want to go and experience great things/countries/eat fine food or are you happy being at home and pottering around?

Life is for the living imo and I’d be looking to not live frugally but as I say I don’t think 3.4k a month should have you shivering and going without a takeaway!

That seems like plenty? We have a bit less income than that and have 2 kids and a mortgage and manage ok.

Also have a read of this:
https://www.retirementlivingstandards.org.uk/

very good illustration that with a full state pension, you’ll be doing great.

Make sure you check your NI record to buy any shortfall if you have one.