40+ Ways for the 50+ Crowd to Cut Costs and Save Money

Grandkids aside, age-related discounts are one of the best perks of getting older. If you’re part of the 50+ crowd, you could be overlooking some unique ways to cut costs.

 

Whether you’re looking for money-saving opportunities for entertainment, travel, health or food, you’re going to love this list of simple, practical ways to spend less in all areas of your life.

 

• Bundle your telecommunications plans to cut costs on your cell phone and internet.
• Get a smart thermostat to regulate heating and cooling times to shave a few dollars off your utility costs.
• Ask your utility company about available discounts on maintenance packages and services, such as electricity, home heating and water.
• Replace toilets and showerheads with water-saving models to slow your water costs.

• Talk to your friends and family about bulk buying together for savings on groceries. Items with a long shelf life such as pasta, paper products, canned goods and laundry detergent are good choices. Even meat can be cheaper bought in bulk, as long as you have freezer space.
• Grow your own vegetables and fruit in a backyard garden. It’s more than good exercise and an excuse to spend time outdoors, it might even help cut your produce costs. Or try indoor gardening to grow leafy greens, herbs, tomatoes and peppers in containers or a small countertop greenhouse.
• Only buy what’s on your list and shop twice a month instead of weekly to save on gas and avoid additional opportunities for impulse buying items you really don’t need!
• If you’re up for the exercise and only need a couple things, walk to the market for groceries. You’ll save on gas and avoid impulse buys because you know you have to carry home whatever you buy.
• Fill your pantry with protein-rich legumes (beans, lentils) to help replace one or two more expensive meat-based meals each week.

• Check out online discount sites for over-the-counter and prescription medicine. Popular discount online pharmacy sites include PharmacyChecker.com, GoodRX.com and BlinkHealth.
• Lower your medical expenses with the AARP Medicare Supplement. An AARP membership also gives you access to apply for AARP vision and dental discounts.

Save Money on Entertainment and Shopping

• Replace expensive restaurant meals with themed potluck dinners with friends and family.
• If you (or your spouse) are reluctant to give up restaurant meals, look for the daily specials or even AARP discounts at eligible restaurants.
• Save on late fees and the cost of buying books by joining your local library. Get their e-book app to read books on your mobile device or e-reader.
• Replace an expensive gym membership with daily walks, doing your own gardening, landscape maintenance and housekeeping chores.
• If you want to exercise to help preserve bone density and avoid debilitating future bone loss, you don’t have to buy an expensive weight set. Instead, fill large laundry detergent containers with water and start lifting.
• Join free local online classifieds sites or Facebook groups to purchase (and sell) second-hand items instead of buying new. This is a good source for gently-used sporting equipment, such as golf clubs, hobby and craft equipment like sewing machines or woodworking, and small kitchen appliances.
• Swap with friends as a fun way to get “new” clothes and other items. Host an event where friends bring their unused clothes, books and household items to share.
• Review your credit card programs for any unused perks. Use the discounts that come with your credit card and consider replacing your premium card that has an annual fee with a basic cash-back credit card that lets you earn cash rewards.
• Use your accumulated credit card points to buy gifts for others or even yourself.

• Enroll in loyalty programs wherever they’re offered for free. Get card stamps (or points) with each of your purchases, and eventually, you could earn a free coffee, a free book and more.
• Get an AARP membership and take advantage of all of their money-saving membership benefits and discounts on everything from car rentals and travel specials to technology and pharmacy discounts.
• Check out AAA member travel discounts for hotel stays, public attractions, events and car rentals, etc.
• Ask your financial institution about available discounts or service fee waivers on bank accounts.
• Always ask for an age-related discount, even if you don’t see one advertised.

Once you get in the habit of always looking for ways to save money, you might find that you even enjoy yourself! Remember, always ask what discounts are available, review each item on your budget to look for ways to save money and then apply those savings to something fun.