How to Retire and Save Money
- 1). Keep an eye on the sales offered by supermarkets in your area because they often sell products below their cost to lure you into their stores. Buy produce in season, then freeze it for use in the future when the prices are much higher. You can also buy products that are discounted in seasons; for instance, buy turkeys around Thanksgiving, hams at Christmastime and around the 4th of July, stock up on hamburger and hot dogs that will be selling cheaply.
- 2). Write down every purchase that you make, even if it is small. There is no better way to find out where your money goes than to assess your list each month, then continually modify your habits. It'll amaze you how much less you will spend by doing this simple task.
- 3). Go to restaurants when they are offering "early-bird specials" to retirees. They usually happen a bit earlier than you have eaten in the past, but often the prices are reduced by 25 percent or more from their menu pricing.
- 4). Buy all of your insurance from the same company or agent. If you are currently buying your automobile insurance from one source and your homeowner's insurance from another, you'll find that any company will offer you a discount if you buy both from it. In many cases, the amount you will save will be substantial.
- 5). Frequent stores that offer discounts to senior citizens. Simply by showing your proof of age, they often will reduce the price of your purchases by 10 percent or more.
- 6). Cut down on impulse buying by leaving your credit cards at home. You can quickly lose track of your spending by using them, and you will not learn the error of your ways until you receive your next statements.
- 7). Go to Seniorjournal.com (see Resources) for books that will show you how to save big if you are at least 50 years old. They offer books that will lead you to vacations and retail stores nationwide that offer discounts to people who are either on a fixed income or who will soon be.
- 8). Buy gifts for people that come from the area in which you live. For example, if you live in Florida, you will pay much less for citrus fruit than you would in many other parts of the US. If you are buying fruit for someone in Minnesota, you will pay less for something that they really will enjoy. Or if you live in Arizona, you can buy turquoise jewelry for a song, but someone you're buying it for will think you paid far more.
- 9). Pay attention to the little things that can save you money. For example, when you are drying clothes, do two loads instead of one and dry the second load as soon as possible after the dryer has finished the first. You will save on energy because the dryer will already be hot. Or save on gasoline by keeping the windows of your car closed and disposing of any roof or ski racks. The racks and open windows reduce your mileage because they add drag.
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