Four Ways for Seniors to Save Every Day

by Gina Blitstein · 0 comments

Many seniors live with a fixed or limited income. This makes meeting everyday expenses a significant challenge. How can seniors get more for their money and stretch those precious dollars a little further?

Here are some ideas that will help seniors save money everyday:

Embrace Online Shopping. You can often find cheaper prices online on everything from groceries to appliances to toys for the grandchildren than at brick and mortar stores. Free shipping is commonly offered and if you shop at an online site that does not have a physical location in your state, you will pay no sales tax. You’ll also save any associated costs like gasoline and parking when you shop on the web.

If you’re concerned about the security of online shopping, you needn’t worry. Most online shopping websites are perfectly safe. You will need to pay for your purchase with a credit card but fear not — your financial information can be transferred as securely to an online shopping site as it is to you bank. Just make certain you see one of these two things on the shopping website:

  1. A small image of a padlock, indicating the site provides secure data transfer. The lock usually appears in the status bar on the bottom right of your screen but it may appear elsewhere, depending upon your browser.
  2. A letter “s” (which stands for “secure”) follows the “http://” part of the website address (URL). A secure site will look like the following example: https://secureshopping.com

Use your flexible schedule to your advantage. As a senior, you may be retired or work fewer hours than a traditional work week. That gives you some flexibility in your schedule that can allow you to take advantage of savings opportunities that folks at work will miss out on. These savings could come from merchants who offer savings during slow times during the day. For instance, a local company offers a discount on oil changes between 8:00 AM and 10:00 AM in my town.

Remember senior discounts are all around you. Senior discounts are everywhere! From restaurants to movie theaters, department stores and health clubs – the typical 10% -15% discounts allow you to do more and spend less. Keep senior discounts constantly in your mind because some businesses don’t advertise them. Don’t hesitate to ask if a senior discount is offered.

Purchase in large quantity and share. Seniors often find grocery shopping vexing because so many items come in such large quantities. Most seniors cook for only one or two people — you simply don’t need large amounts of groceries. You may have downsized your living space and don’t have a lot of pantry or freezer storage. Purchasing smaller amounts, however, often means higher prices per unit which wastes money.

A solution to this problem may be to form a “buying group” with other seniors, neighbors or family. Have a member of the group purchase the large, most economical, size of the desired items, then share the goods and the cost among the group. This could work with something as big as a case of canned vegetables or as small as a loaf of bread. Seniors’ needs and budgets are small but you can get just what you need without buying more than you need by implementing this “buddy system” for buying groceries.

While it is a challenge to live within limited means, seniors have more choices for saving than than just the “Early Bird Special.” You can even turn their unique circumstances into savings opportunities with a little effort and creativity.

Bonus Tip:

Did you know that you can save money with Netflix? Even if you don't plan on using the service, you should at least sign up for the Netflix free trial here to get some free movies for a month.

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