Do you spend too much on“fun,”such as dining out, or going to concerts and movies? If you are, what are you doing about it? These days, it’s easy to blow your money on amusement. But as a recent AARP report suggests, the problem isn’t necessarily the spending— it’s the way the spending is tracked. In retirement, tracking your spending is as crucial as ever. However, in retirement it can also be hard to say no to those extra expenditures. Thanks to credit cards and electronic payment options like Apple Pay and GoogleWallet, you can buy to your heart’s content during an evening out without realizing exactly howmuch you’re spending. Some financial experts, such as Chris Hogan, author of“Retire Inspired: It’s Not an Age, It’s a Financial Number,”say cash is the best way to go. For instance, give yourself $200 to spend every two weeks on discretionary items. Once the cash is gone, you have to wait until the next two-week cycle to re-up. While this is a great way to stick to an exacting budget, it’s not really a way to track spending. You can track spending manually, but a lot of people don’t. With fewer people relying on checks, we’re facing a reality in which people simply don’t take the time to balance their accounts by hand. Interestingly, there are financial experts who say credit cards are the way to go when it comes to tracking your spending. Eric Tyson, author of“Investing for Dummies”and co-author of“Personal Finance After 50 for Dummies,”says credit cards are the ideal tool for this purpose. His reasoning: When you use a credit card, you can track your spending better. Many people use smartphone apps to track their spending, generally through an app tied to their bank or credit card issuer. You can check the app to see exactly howmuch you’re spending, along with when and where. The point is, when you want to rein in your discretionary spending— or your spending in general — knowing howmuch you’re spending gives you a huge advantage. How are you tracking your spending? New Year, New Spending Habit REIN IN YOUR DISCRETIONARY SPENDING
LAUREL’S PISTACHIO GOJI BERRY GRANOLA
1 cup rolled oats 1/2 teaspoon salt Ingredients
1/3 cup pistachios, chopped 1/4 cup coconut flakes 1 teaspoon cinnamon 1/3 cup goji berries
1 tablespoon coconut oil 3 tablespoons maple syrup
Puzzle Your Brain!
Directions
1. Heat a large skillet over low heat. Add oats in a thin layer and toast for 1–2 minutes. Add coconut oil and salt, then stir. Continue toasting for 5–7 minutes, stirring occasionally. 2. Add maple syrup 1 tablespoon at a time; stir to coat. 3. Once oats are toasted, add pistachios, coconut flakes, and cinnamon. Cook slowly until pistachios and coconut flakes are toasted but not burned, about 5 minutes. 4. Remove from pan and stir in goji berries. 5. Let cool and enjoy as a snack or on top of your yogurt!
Recipe inspired by LoveAndLemons.com.
Published by The Newsletter Pro • www.thenewsletterpro.com
www.MattsonFinancial.com | 3
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