Finding More Time and Saving More Money with PERK

By Jan Cullinane
NABBW’s Expert on The New Retirement

We can all use more time and more money, right? Well, I stumbled across an acronym that can help us do both. The acronym is PERK, and credit goes to Robert Pagliarini, an author, a certified financial planner, a columnist, and the President of Pacifica Wealth Advisors.

Here\’s how it works: Think about all your activities and all your expenses (current and upcoming). Write them down. For each activity and expense, apply “PERK”:

Postpone: Want a new car, but still have one that\’s reliable? Postpone your purchase! Have a deadline for work, but “Words with Friends” is calling? Wait until you\’ve finished your project to play.

Eliminate: Need to watch all those reality shows? Eliminate one and gain some time. Need a land line when you have a cell phone? Eliminate that extra cost.

Reduce: Do you really need to read every sappy story you get as an e-mail? Reduce the time you spend on those time-suckers. Can you stretch out the time between manicures, pedicures, and haircuts by several days? Doing this will save time and money over the course of a year.

Keep: Of course, there are some activities and some financial commitments that we would never and should never give up. Paying our rent/mortgage, time with friends, exercising. These are the Keepers.

These are just a few examples, but you get the idea. By applying PERK to our lives, we can save time and money.

Jan Cullinane is the co-author of The New Retirement: The Ultimate Guide to the Rest of Your Life (Rodale).

Jan Cullinane is the co-author of The New Retirement: The Ultimate Guide to the Rest of Your Life (Rodale, 2007). She gives seminars on the (primarily) non-financial aspects of retirement through her company, "Retirement Living from A to Z."