15 Ways for Seniors to Save During Retirement
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If you’re already in retirement or getting close, here are some ways to save even more money to help live out your golden years without sacrificing lifestyle.
Besides adjusting priorities (do you need that cable tv?), and how often you used to do certain activities (maybe decrease the number of times you eat out in a week), learn to take advantage of senior discounts as well.
Naturally, there will be a shift in how you live while using your nest egg, and we’ve rounded up additional ways to save even more money during your retirement below.
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5. Get Free Money Back on All Your Shopping Hauls
Check your pockets; check your purse. And keep receipts for your iPhone.
Just grab all your recent receipts from your coffee runs, grocery trips, restaurants, and gas station fill-ups, scan them into Fetch Rewards on iOS, and earn points for free money! Connect your email account, as well, to count DIGITAL receipts from Amazon, Instacart, and more.
Basically, snap a pic of your receipt from anywhere, and that’s it; you’ve got points for money. There’s no minimum spend, no need to select items manually, scan in any receipt from any store or gas station, and it’ll automatically reward you.
It’s free and easy to use and is a must-have iOS app for anyone who buys stuff!
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10. Don’t Get Gouged Off at 29% APR on Your Credit Card. You Could Get a Low 4.99% APR Instead
If you don’t want debt to continue to loom over you, consider debt consolidation. In the long run, you’ll save money from not having to continuously pay high-interest.
Debt consolidation means you’re borrowing money at a low-interest rate and using that money to pay off the outstanding balances from your high-interest credit cards.
It can be simple with Fiona, the fastest, easiest, most comprehensive way to search for loans from the top providers.
It’s free to use and the application takes less than 60 seconds to complete. Fiona will search all the top online lenders to get you the best personal loan anywhere between $1,000 and $100,0000. You’ll find rates as low as 4.99% APR and loan terms from 24-84 months depending on the lender.
Not only will they help with debt consolidation, but they can also help with any big moment in your life that you may need a personal loan for like Home Improvement, Wedding, Medical bills and more.
11. Original Medicare Only Provides the Basics - Make Sure You’re Covered
Insurance is already confusing enough but when you start to break down Medicare, you’ll realize there are different parts, terms, and premiums that aren’t all free.
In a nutshell, Medicare is a federal health insurance program for Americans age 65 or older. Medicare is then broken down into Part A (hospital care) and Part B (doctor visits and medical services/equipment).
Part A is premium-free if you’ve worked for at least 10 years and paid for Medicare taxes during that time. Part B carries a premium that varies based on income.
Part A/B only provides the basics. Most people will need additional coverage for prescription drugs (Part D), dental care, hearing, and vision. That’s why a Medicare Supplement, (also known as Medigap) can take care of the healthcare costs not covered by original Medicare.
Easily search for coverage on RateFetcher’s Medicare marketplace like Home Improvement, Wedding, Medical bills and more. and just fill out one form so they can match you with reputable policies from United Medicare Advisors, SelectQuote Senior, Medigap.net, Physicians Mutual, and more.
You’ll see the best policies for your coverage area and for your needs, so make sure you’re covered with more than just the basics.
12. Earning Side Income on Your Own Time
You’re retired but it doesn’t mean that you want to stay idle. How about earning side income on doing the things you enjoy? Plus all these options are flexible for your schedule so you can start or stop whenever you want.
Rover: Getting to spend time with dogs plus some healthy physical activity sounds like a win-win situation. Many pets need to be walked in the daytime while their owners are at work so your flexible schedule would be ideal. Other services you can get paid on are dog boarding, doggy daycare, and house-sitting.
Rent a Grandma: If you miss having children or babies around and want to earn some money working with them, you can offer your services as a Grandma. They also hire personal assistants, senior companions, tutors, and after school care. If you’re eligible, you’ll have a family to be assigned to!
Etsy: If you enjoy making any sort of craft (engraving, knitting, leatherwork, etc) chances are, people will be interested in buying. Consider opening up an Etsy shop to sell online and share your creativity with others!
