You spent decades raising your kids, and now theyve all moved out.
Theyve gone off to college or gotten their own places.
The house is weirdly quiet.
Youre an empty nester.
What are you supposed to do now?
Dont make the same mistake too many empty nesters make.
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Do you avoid people too?
Enough small talk.Here are some waysto earn extra cash, without all of the social stuff.
This is a major life event, on par with getting married or having a baby.
Heres our checklist of six things empty nesters need to do.
Assess Your Retirement Savings
News flash:Americans arent saving enough for retirement.
A newreportfrom the Economic Policy Institute finds the average family has nowhere near enough money in retirement funds.
Did you know?
Itll tell you how much to start saving to stay on track toward a decent retirement.
Better yet, sit down with a financial adviser.
Reevaluate Your Spending
Track your expenses and draw up a new monthly budget.
Now that your kids are out of the house, you may be spending less on certain things.
Basically, theyre spending about what they were spending before.
Use That Empty Bedroom to Make Extra Money
Decide what to do with that vacant bedroom or two.
Maybe turn one into a study or sewing room.
Or trylisting a room on Airbnbto make extra money.
Google Airbnb empty nester, and youll find tons of people doing exactly that.
Consider Downsizing
Now that your nest is empty, it might be time to downsize it.
Moving into a smaller home can save you money on your mortgage and power bill.
Moving into an apartment can save you money on maintenance, landscaping and property taxes.
Start downsizing at home first.To save time and aggravation when moving, get rid of stuff you dont need.
Clear out your old DVDs, Blu-rays and CDs with theDecluttrapp.
Scan the barcode with your phone, and Decluttr will make you an offer.
Right now, its offering an extra $5 to orders when you use the code FREE5 at checkout.
you’re able to also sell nearly anything through theLetgoapp.
Just snap a photo of your item and set up a listing in about 30 seconds.
Consider Your Grocery List
Speaking of food, its time to revamp your grocery shopping list.
Shopping for food should be cheaper with fewer mouths to feed.
Plan home-cooked meals that can be done on a smaller scale.
Since were talking about food, heres our master list onhow to save money on groceries.
And if youre eating out more,here are our tipsfor saving money at restaurants.
In conclusion, enjoy your new empty-nest adventure!
The smarter you are about it, the better off youll be.
Mike Brassfield ([email protected]) is a senior writer at The Penny Hoarder.
He still has a full house.
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