Home Finance & The City Money 3 Tips For Saving Money When You’re Over 50

3 Tips For Saving Money When You’re Over 50

Saving money can be a challenge no matter your age, but it’s especially important once you become older, and your opportunities to earn income start to dwindle. If you haven’t prepared already, now is your chance to do so. The good news is that you can now start looking at different perks and discounts for seniors. It’s also never too late to rethink your spending habits. Let’s take a look at a few ways you can save money when you get older.

Look for Memberships and Senior Passes

You should also start looking at various clubs and memberships made for seniors and see if you qualify. For example, US National Parks offer senior passes with discounts for seniors on all national parks across the US. The AARP provides all sorts of perks as well.

Did you know that you could significantly reduce your car insurance costs by joining? You have insurers like The Hartford, for instance, that will provide you with a lower auto insurance quote if you’re an AARP member. Not only do they offer great auto insurance quotes, but they also have additional benefits like their disappearing deductible program that will reduce your deductibles every year if you keep a clean record, even down to 0. It’s a great provider for anyone over the 50, or anyone looking for affordable insurance in general.

Cut Food Costs

One of the areas where you could easily make tons of savings is on food. You first have to look at senior discounts. Most restaurants will have them, but many grocery stores will also. Here is a list of grocery stores that have programs for seniors.

It’s also a time when eating healthy could help you save. Your doctor may have advised that you cut your meat consumption, for instance. Doing something like having meatless dinners once or twice a week could be enough to make a difference. In all cases, you need to learn how to use tools like coupons and price matching if you aren’t using them already.

Save on Traveling

Another area where you can save a lot of money as a senior is traveling. Most hotels will have either programs or discounts for seniors. Many major chains will have discounts ranging from 10% to 15% on hotel room stays. And, even if you might be too young for some of these discounts, it never hurts to ask.

Another way you could save is on car rentals. This is also somewhere being an AARP member could end up paying off. AARP members get a 30% discount on Avis’s base rate. Budget also offers a 30% discount, while Hertz provides a 20% one. So, don’t be afraid to look and ask around to see if they have a special for you.

As you can see, there is more than one way that you could save money as a senior. Whether it’s on food, traveling, or transportation, always look for discounts and ask wherever you go.