With a simple lifestyle and fewer expenses, retirees can enjoy a fulfilling life. More than they had while working. However, with an excessive amount of free time at hand, many seniors often spend more on materials and events, such as entertainment, travel, leisure, etc. Eventually, the cost will add up quickly, and living a good life after years of service may become a challenge. To prevent such an unfortunate situation from happening, seniors can save money through some cost-saving measures that reduce expenses and increase savings. The measures are as follows:
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Keep up on your home maintenance!
Maintaining your home is one of the most important ways to save money at home. The last thing you want is to lose money in wasted energy with old windows. Or even worse to have a pipe burst that could have been repaired before the problem got worse. If you aren’t sure about the condition of things in your home. One of the biggest unexpected home repair costs is having a pipe burst and leak water onto the wall and floors. Instead hire a plumber ahead of time to inspect your pipes.
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Check for new health care coverage
Seniors can end up paying more in the long term if their Medicare healthcare coverage doesn’t align with their needs. According to HealthView Services, an average couple of 65 years old who retires in 2017 have to pay $11,369 during their initial year for healthcare. However, by the time they clock 85 years, the same retirees will have to pay $39,208.
Thus, you should consult your Medicare agent to understand whether you need to change your Medicare coverage during the Annual Enrollment Period to avoid massive and unexpected costs. By so doing, you will be saving yourself from considerable expenses in the future and get to keep the money for other uses.
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Reduce your transportation expenses
Perhaps you are no longer driving to the office; however, the cost of car ownership can still be on the high side. AAA reported that it costs $8,469 to own and operate a new car. That aside, you will also have to maintain and repair the vehicle when necessary. Understandably, some people can do without owning a car. Nevertheless, there are some ways through which you can save some money. For instance, you can shop for a lesser insurance rate. Also, you can carpool with others or relocate to areas where there is public transportation, if possible. All these will help to trim down your transportation expenses.
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Benefit from senior discounts
Senior discounts are one of the benefits of being an aged adult. Taking advantage of senior discounts doesn’t take more than asking the businesses if the offer is available. Also, feel free to check the company’s website to see whether they offer senior discounts or not. Some businesses that often provide senior discounts include gyms, auto services, transportation and travel services, grocery stores, restaurants, retailers, low-cost cable TV providers, among others – endeavor to check them out.
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Make inquiries about Veterans discounts
Some businesses might be offering veteran discounts rather than senior discounts. If you are a veteran, endeavor to ask about the offer. By showing a valid military identity card, many retailers, restaurants, and grocery stores will gladly offer a percentage off your purchase. You can even get freebies from some businesses.
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Become a discount club member
While several discount clubs are out there, you should consider a specific club that will benefit you most, as well as provide the biggest bang for every buck spent. Some of the beneficial discount clubs include the Seniors Coalition, the American Seniors Association, and the AARP. You will surely find a suitable club among the three options depending on your lifestyle and purchasing habits. If you served as a federal worker, you could check out National Active and Retired Federal Employees Association. Also, those who cherish RV and would love to spend some time on campgrounds, as well as benefit from park discounts, should check out the Escapees RV Club, Camp Club USA, Good Sam Club, or the Passport America.
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National Park Admission Senior Passes
By using the National Parks and Federal Recreational Lands Annual Senior Pass or Lifetime Senior Pass, you can enter more than 2,000 federal recreational sites and national parks freely. Also, you may get a 50% discount on some services and facility fees such as camping, swimming, special interpretive services, camping, among others, by using the passes.
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Pay a visit to public institutions
You should use your surplus free time to visit exciting places such as libraries, schools, parks, community centers, among others. Most of these places offer discounted or free services, events, and educational opportunities to senior citizens. Aside from free books for rent, you can engage in free programs and classes in public institutions. Also, during the summer, many parks often hold concerts – try to attend a few of them. People from the age of 50 years and above may get reduced or free non-credit college tuition in some colleges.
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Visit the Local Department of Agriculture
You should go to your local Department of Agriculture sometimes, most especially if you are the type that grows the majority of his/her food in the backyard. The department often offers free professional tips and advice on how to solve gardening problems and many more.
Furthermore, some special programs are usually designed for seniors, such as learning beekeeping. Also, you can learn about how to cultivate different crops. Irrespective of your choice, endeavor to benefit from the free programs.
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Consider the thrift stores
If you would like to get good clothes, household goods, accessories and many more at an affordable price, then consider going to the thrift stores. More so, endeavor to ask about the senior accounts to get new items at a much lower price.
The Bottom Line
As seniors who have served the country and humanity diligently, it is only right to enjoy your life after service. However, to stay on the good side of finance and economy, endeavor to use the discussed tips to save money and reduce your expenses.
Author Bio:
Stacey Hernandez is a home improvement writer for Dickson Plumbing LLC a plumber in Elizabeth City, NC.
