By Jim McKinley

Special to the Financial Independence Hub

Baby Boomers came of age during a period of unprecedented prosperity and affluence in America, which was reaping the benefits of a super-charged post-war economy. And, like their parents and grandparents, instead of giving into frivolous financial behavior and spending their money, Baby Boomers tend to “hedge their bets” and play it conservative when it comes to spending. If this sounds like you, don’t let a concern about the future and the need for a tidy nest egg keep you from having fun and enjoying life. There are plenty of ways to balance preparing for the unexpected with having some fun.

Cost-conscious vacations

Vacations tend to be spendy affairs. The anticipation of visiting new and exotic locations can encourage a freewheeling attitude and a considerable outlay of money. If you’re worried about spending money you should be setting aside for a rainy day, forgo that Carribean or Danube cruise and look into something a bit closer to home, a destination you can easily reach by car. Sometimes there’s a memorable vacation waiting for you just a few exits down the road.

Do some research and look for an attractive but affordable bed-and-breakfast in a location that’s near a site of historical interest or a scene of natural beauty. If you don’t want to put highway miles on your car, check into coupons or online offers from a rental car company. Instead of stopping for pricey fast food, pack a picnic lunch and hit the trail for a fun and healthy hike. If you decide to stay in a hotel with a continental breakfast, grab some leftovers and cobble together your own lunch to avoid overspending on meals later.

Rethink dining out

There’s nothing quite like heading out for a nice dinner out with your spouse. The only problem is the cost:  a nice dinner at your favorite French restaurant with wine and dessert will certainly leave you with a three-figure check. Instead, look for some of the less expensive gems every city has to offer, if only you know where to find them. Do a little homework, ask around and find a new “go-to” restaurant, perhaps a family-owned place with a great history and a menu full of homemade delights. You can also save money on wine by bringing your own bottle, which many restaurants will gladly allow.

Take care of the basics

If you have a frugal nature, you’re probably more comfortable taking care of financial responsibilities before you head out for a good time. Few things make you feel better about your money situation than having an adequate rainy day emergency fund firmly in place. It’s easier than you think: simply set up a monthly automatic transfer into a simple, interest-bearing savings account, though make certain it’s a monthly amount your budget can handle. If possible, save enough to cover at least six months of expenses in an account you can easily access. Continue Reading…