If you are a senior citizen, you likely have to watch every dollar carefully. Living frugally does not mean you have to live cheap, or that you are poor. Instead living frugally implies that you are careful and wise with your most valuable asset, your cash flow. When you live frugally you know that every single dollar saved adds up to a lot of dollars at the end of the year, and a better quality of life. We will discuss some tips that can stretch out your retirement savings much further.
Coupons are a great way to save extra money. You can often find them right in your mailbox, or in your local free community news papers. You can also buy your local Sunday news papers, which is sure to be chuck full of coupon goodness. You can maximize your couponing by looking for stores which agree to double a coupons value, although these stores are often harder to find than in days past. I know of one couple who save on average $80 per shopping trip due to coupons, and they shop once per week. That is a savings of $4160 per year!
This area seniors often get lost in the sea of options out there. The one thing for certain with health care is that every year the prices change, not just for health services but also insurance premiums, and what is covered or not. The perfect health plan from 2014 may not be well suited to 2015 and beyond. You should review your health care options every single year, compare plans and premiums and make the decision best suited for your level of care you come to expect as well as cost. You just may be able to get the same or better coverage by examining your options when your new window for changing enrollment opens up. You can well believe that these insurance companies are competitive and that deals can be had, if you only but look for them. Remember looking at your options comes with no obligations.
These days most people have a cell phone. If you too have a cell phone, yet still own a land line, you might want to consider dropping your land line and staying just with a cellular plan. Landlines are outdated and no longer needed, a cell phone does everything a land line does and more. The savings from dropping your land line can equal several hundred dollars per year. If you do not use the phone often there is even cheaper options available, such as a prepaid plan, and these plans can cost as little as $10 per month.
Many states offer senior citizens a break on property taxes. You should look into if your state offers such a discount. If they do, there will be paperwork to fill out of course, but it should be relatively easy.