Ways To Save Money When Retired

Ways To Save Money When Retired

Whether you are thinking about retirement or already retired, it is probable that your income will be lower than when you were working. Learning to live frugally does not mean giving up the things you enjoy, but brings a budget into focus more than ever before. Controlling expenses can help you maintain a comfortable lifestyle in retirement.

Budget

Although it is simple advice, most people are less likely to live by a strict budget when a comfortable amount of money is flowing into the coffers. Cut that income in half and you have a different financial story.  Your income will probably not be as high once you retire so the time to make plans is now.  A budget will help you to break down your income and expenses and bring into focus where you can cut expenses while maintaining a comfortable lifestyle.

Living Space

One of the quickest ways to cut monthly expenses is to trade in that large home for a smaller, more efficient space.  Most retirees who make that move find that their time is more their own, free from the constant "to do list" of maintaining a large home.  Having a smaller home will save on utilities, maintenance, insurance and overall household costs and will provide a comfortable, carefree retirement.

Entertainment

Living within a budget does not mean going without fun. It means finding less expensive ways to do things.  You can cut back on your entertainment, but there is no reason to eliminate it from your life.  Many venues offer free events and senior discounts that will enable you to explore and enjoy new experiences.

Food  

Retirement brings on extra time! Some of that time can be spent cooking your own meals instead of eating out.  If you plan your meals ahead of time, you can find your menu items on sale at your local grocery, allowing you to save money while eating healthier.  Clipping coupons is another great way to save a few dollars.  Many restaurants near retirement communities offer 2 for 1 or discounted meals.

Cable/Internet

Do you watch all  200 channels on you TV?  Reviewing your cable bill and purchasing just the channels you watch, can often save a considerable amount of money.  Look into less expensive options like Sling TV, Hulu or Netflix. 


Lance Whipple PA Headshot
Author:
Phone: 407-494-6030
Dated: October 30th 2017
Views: 70
About Lance: My name is Lance Whipple and I help first-time homebuyers, international investors, “active adults...

Property Search








RSS Feed

View our latest blog posts in your RSS reader. Click here to access. RSS

Search Blog

Recent Blogs

SunRail Station Opens Up In Meadow Woods Florida - Dislike I-4 traffic and thinking
JUST SOLD 131 BLOOMINGDALE DRIVE DAVENPORT FL 33897 - SOLD!!!  Congratulations to
Have You Outgrown Your Starter Home - Have You Outgrown Your Starter?
Modern Design Vacation Home In Four Corners - Are you looking for a vacation

Saved Properties

This is a list of your favorite properties. We will email you if a property is reduced or leaves the market.

Click 'Save' to add a property to this list.

Register / Login

New & returning visitors please enter your information to login.

By clicking 'register' you are agreeing to our terms of use & giving us expressed written consent to contact you.

Questions? Comments? Complaints?

This message will go directly to the head of our team.

Location & Address

EXIT Realty Champions
7830 Lake Wilson Road
Davenport, FL
863-292-6217
321-445-5568