For many of us, choices made in the past effect our long-range plans as seniors. These choices can include early retirement, downsizing, investment missteps and income fluctuations.

However, there are several ways to address the gap between income and outgo. These ideas include part time work (from your home or for an employer) freelance work, contractual work and simplifying lifestyles to adapt to decreasing income without giving up lifestyles and enjoyable activities.

The first suggestion is to take a long hard look at your outgo, and decide if there are any realistic ways to reduce your spending. My husband and I rarely go to movies anymore at a theater, but instead buy a monthly membership from Blockbuster. There are other services available (i.e. Netflix) but we chose Blockbuster because we live in a suburban area and have a nearby store; our membership package allows us to “swap” five of our movies-rented-by-mail for in-store movies. We watch over 20 movies a month, for around $1 a movie.

There may be other changes you can make to your bottom line as well – my best friend is a financial counselor, and she has discovered that it is not unusual for folks to spend $200-$300 a MONTH buying lattes and mochas. Learn to make your own! Usually no fancy equipment is really required, just a willingness to do some research online to find copycat recipes that can give you a chance to indulge your cravings without railroading your money! The same applies to eating out – limit where and how often, and make your money stretch further.

You like your lifestyle and don’t want to trim here or reduce there? Then consider ways to bring in additional income without going back into the workplace full-time. There are several ways to approach this. I suggest you look at what you enjoy, where your skills are and what available hours you want to devote to such work, and combine that information with your physical disabilities that need to be taken into consideration, and the needs of your partner, if appropriate. Then you can explore some of the off the wall alternatives as well:

1. Consider a newspaper route. High gas costs may discourage you from this, especially if you do not have an economy vehicle – but go talk to the circulation manager(s) of local papers, and find out what they have to offer. Most early morning papers have routes in your neighborhood, and allow you to work 3 hours or so in the wee hours, and be home during the day. These jobs often are contractual, meaning you have to file taxes as self-employed, but there are many write-offs as well for vehicle use etc.

2. Investigate legitimate mystery shopping venues. These can be found online, and you can get free certification for them, to make you move viable to employers. These too are contractual, but allow you to turn down work when it isn’t convenient for you. The companies most often go to places like fast foods, convenience stores, car oil change places etc. You go in incognito, following the guidelines of the company, often buying a service for which you are reimbursed (a good way to get free oil changes and food!) See link below for further information.

3. Investigate senior employment opportunities offered by many companies. For example, Borders seeks out and appreciates their senior workers in their bookstore chain. Check local thrift stores, welfare organizations (Senior Gleaners, Loaves and Fishes for example) and even churches for part-time employment opportunities. You can also check out organizations such as RSVP or Green Thumb (online) which have volunteer opportunities that may evolve into paid work. Check the links below for AARP employment suggestions as well.

4. Check in with your county or state for jobs created or staffed specifically by seniors. Many state extension programs offer ideas for jobs as well. Check the opportunities online on the web page for your local craigslist.org site; lots of possibilities for work from home, part time jobs, temporary jobs or jobs-with-training.

5. Consider something unusual, such as travel writing or photography, or something useful such as childcare, or house sitting/pet sitting. All are interesting and viable opportunities to make some extra money!
There are many possibilities, and admittedly, some are rather bizarre or unusual, but getting out there and exploring what’s out there may lead you to a niche that is perfect for you!