Does anyone here live on a Shoestring?

PeppermintPatty said:
We don’t live on a shoestring budget but we DO budget to save money. We are putting money away for possible emergencies. We enjoy budgeting. We watch for sales items when shopping and make most meals from scratch. We even make our own bread.
We do our own vehicle repairs.
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I saved so much money getting rid my vehicle, and also healthier. Fortunately everything I need is within walking distance.
 

We struggled paycheck to paycheck for many years.... but we spent to give our kids the best we could and experience's. Many times the shoestring broke and had to knot it in the middle and re-lace to miss some eyes....
Once they left the nest we started looking after ourselves and managed to do well. We are now it a situation we never dreamed we would be.
 
Cyclist said:
Yes, I worked out a budget for when he passes away since he's older. I will need $700 more per month to live a lower standard of living in a Trailer in an RV Park. We have an RV I can live in, maybe they'll let me stay there, until one comes up for sale. I have no plans to stay there much longer if he's not with me. I want to be downtown where everything is walkable and closer to church, where we volunteer, and the health food store.
Regarding Part B, it's up to him to pay for that. Then there is re-imbursement once a year for what is paid. That's how I understand it
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Two questions. How can he pay for his Part B without income? Can you please give a link for reimbursement of payment on Part B? Thank you.
 
PeppermintPatty said:
We are the opposite. Nothing is in walking distance. We wouldn’t survive with no car.
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Same here and I've been trying to get my huzz to move to just a slightly smaller place closer to town, and start spending just slightly less money so we don't have to worry about an unexpected expense (in the US that's usually a medical one) and have to live on a shoestring. But he refuses.
 
We OK. Not living on a shoestring per se.
Although we married later (59) we both separately - before we even met - each planned fairly well for retirement and we are so glad we EACH did.

We both do try to be thrifty, conserving money as much as possible for rainy days and our bigger planned purchases.

We do have a $2,900.00/month house payment for a bit still though. We also own (free and clear) a 4-acre house lot in a more secluded rural NE side of Tucson (Tanque Verde) that has a spectacular up close and personal view of the mountains. When we were younger, we had considered building a house on the lot, I drew up the plans, had soils tests, engineering certified, etc; but Covid nixed that idea.

Now we will sell that 4 acres when the right buyer comes along, in the next few years, and pay off our house.

Both of us are 100% covered by both VA TFL (both of us are veterans) as well as Medicare. We don't have any pharmacy costs to speak of as
we are both fairly healthy rolling into 70; and praying to God we both stay that way.
 
I spent a week one summer about 20 years ago at the Tanque Verde Ranch @CooCooforCoCoPuffs. Fabulous spot nestled in the foothils of the mountains there. Did a lot of riding while there, including chuck wagon breakfast rides up into the hills. The 'learn to gallop' lessons and graduation 2 hour ride down trails and across rivers did me in though. Butt blisters are NOT fun 😖

What a great place that was though. One of my fav travel memories!
 
CooCooforCoCoPuffs said:
We OK. Not living on a shoestring per se.
Although we married later (59) we both separately - before we even met - each planned fairly well for retirement and we are so glad we EACH did.

We both do try to be thrifty, conserving money as much as possible for rainy days and our bigger planned purchases.

We do have a $2,900.00/month house payment for a bit still though. We also own (free and clear) a 4-acre house lot in a more secluded rural NE side of Tucson (Tanque Verde) that has a spectacular up close and personal view of the mountains. When we were younger, we had considered building a house on the lot, I drew up the plans, had soils tests, engineering certified, etc; but Covid nixed that idea.

Now we will sell that 4 acres when the right buyer comes along, in the next few years, and pay off our house.

Both of us are 100% covered by both VA TFL (both of us are veterans) as well as Medicare. We don't have any pharmacy costs to speak of as
we are both fairly healthy rolling into 70; and praying to God we both stay that way.
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That's fantastic. You're very set regarding healthcare
 
I save money every month but not because Im frugal. I just dont have any need to spend. Im old and Ive lived in this house for 50 years. And I have the stuff to prove it. :D I have no house or car payment. Pay the cards off every month. I dont eat out much. I have the usual utility bills etc. If I want something I buy it.
 
Im not sure if everyone is aware of this but if you dont sign up for medicare when you turn 65 you will have to pay a penalty for every year you delay. Its not one time. Its a life time penalty. I think B is 10 percent so if you delay two years thats a 20 percent penalty.
 
Due to a significant loss of income in 2016, I bought a trailer, parked it on my cousin's property next to her horse stables, and moved into it. I only had to pay my cousin $100.00 a month for water and electricity, as well as take care of her horses and clean their stables. However, I still had more expenses than income, so I moved to Thailand, bought a house, and put it in my son's name. Since he has both Thai and American citizenship, he can legally own the land the house is on. Now, when I pass away, I can leave all the money I have left to my son. Before and after moving to Thailand photos. Photo 7-23-16, 8 38 15 PM.jpgIMG_0263.JPG
 
oslooskar said:
Due to a significant loss of income in 2016, I bought a trailer, parked it on my cousin's property next to her horse stables, and moved into it. I only had to pay my cousin $100.00 a month for water and electricity, as well as take care of her horses and clean their stables. However, I still had more expenses than income, so I moved to Thailand, bought a house, and put it in my son's name. Since he has both Thai and American citizenship, he can legally own the land the house is on. Now, when I pass away, I can leave all the money I have left to my son. Before and after moving to Thailand photos. View attachment 389575View attachment 389576
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That's beautiful!
 
Babs2u said:
I was doing well until about two years ago. Then a series of unexpected expenses hit me. Mostly medical but also more than $8000 for tree trimming to satisfy homeowners' insurance. My former zero balance credit cards have taken a hit. Now the roof is threatening me. I may have to sell but where to go?
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I'm really sorry, and that's a tough one. I don't know what kind of equity you would have out of your house if you sold. For downsizing or renting.

I'm going to have to start working more. I made a big mistake going part time a few years ago. I thought I would buy a mobile in a park which I had plenty for and skate into retirement. It's not working. At close to 65 it won't be easy, but I'm going to do it for as long as I can. Will be talking to my boss tomorrow. I have one thing at work that gives me an advantage over some of my peers.
 
We get by on next to nothing. We live a simple life and like it that way. No fancy trips, just camping in the summer months. Only payment still owed is my truck, which will be done in less than a year. I have always agreed with the statement, The more you have, The more you want. I have nothing and want nothing.
 
Muskrat said:
It is hard to tell if I am living on a shoestring….exactly. I am frugal in the day to day. Short of a war or other catastrophic event I will have enough. My fear is that my son has enough after I am gone. He has untreated mental issues and lives with us.
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Have always had so much empathy for those with children who are disabled.

What and how does one plan for their future. Leaving them to "the system" would also concern me, if I were in your situation. Though, I do know one friend and they have decided to NOT leave any money for their disabled daughter (age 27) because it disallows the daughter certain income related benefits of support. They are not leaving an inheritance for her as they are not legally obliged to do so as she is an adult.

They will be leaving it to the other children who can put their kids through college in the future, as a legacy. They struggled with the idea some may think they are "gaming the system" but I don't think anyone having a child over 18-21, with disabilities, is gaming any system.

This is because our system is, in general, built for supporting the disabled when their parents die.
 
Inept said:
I don't now but I did. I travelled around the globe in Tony Wheeler's "shoestring" footsteps for 7 years.
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I have lived on a shoestring at least twice - struggling to get an education, etc, to support a child.
Twice I was nearly homeless - well actually, I was "homeless".

It taught me early I didn't want shoestring living or to be homeless in retirement?
 

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