As you get older, you want to slow down and spend more time on the things you enjoy. That might be playing with your grandkids or starting a new hobby that you never had time for while you were working. There are loads of fun things you can start doing during your retirement, which is why so many of us look forward to the days when we’re not working and our time is finally our own. But as some retirees live on a fixed income, saving on household bills is as important as ever.
Being retired means that you get loads of time, but if you don’t also have plenty of money, then you might find it hard to do everything in your plans. While many retirees can live comfortably on their retirement, you want to make sure that you make the most of your money during retirement.
One of the most significant expenses any individual, couple, or family faces is household expenses. From power and water bills to groceries, there’s a lot that you must pay to get through day-to-day life.
Thankfully, there are great ways that you can save money on these household expenses without compromising. So, you can live a happy, healthy, and fun retirement. Today, we invite you to check out these handy tips to find out more about how you can save money on household bills.
A Retiree Guide To Saving On Household Bills
1. Make the most of your AARP discount.
The American Association of Retired Persons offers great AARP discounts and benefits for retirees. You can save money on everything from insurance to Internet bills and more. Your discount is ready for you to use, all you need to do is sign-up, and there are a lot of benefits that you could find useful.
Making the most of discount programs available to you, such as this one, helps you to save money on your bills and other treats, meaning you can afford to enjoy more little luxury as life goes on.
2. Combine home and auto insurance.
As well as using your discount, it would help if you also explored ways to make further savings as a retiree. For example, many insurance providers, such as The Hartford, allow over 50s clients to bundle home and auto insurance. So if you have a car and need home insurance, then you could save a lot of money by bundling the two together, and you could even get an AARP discount off both policies to leave you with even more money to spend on the things you love.
3. Get a smart meter.
A smart meter can help you assess how much energy you use throughout the day and then work out ways to save. These handy gadgets are easy to use; once it’s installed, you can easily see how much money you’ve spent. In addition, many smart meters have additional features, such as the option to set a weekly or monthly budget and an app that allows you to view all your energy usage in detail. So, you can work out how much you’re spending on power every day and if there are ways you can save.
4. Try couponing.
Using coupons can save you money on almost everything, ranging from treats to everyday essentials like groceries and cleaning products. In addition, you’ll be able to buy branded products for a reduced price, which means you can save money without compromising on quality. Couponing might seem tedious and challenging, but it’s surprisingly easy in today’s modern, technology-driven market. There are plenty of couponing apps available to allow you to find and apply deals to your online shopping instantly. These apps can save you time and will enable you to save money at the same time.
When you’re couponing, make sure that you understand the deal and whether it actually saves you money. Some deals are in small letters, so you might pay a lot more money than you think. Read the terms to ensure that you get the best deal possible and can still enjoy the brand products you love.
5. Upgrade to energy-efficient appliances.
While it’s great to have an old and trusted appliance, most older appliances are not energy efficient. The result is a lot of wasted energy, which raises your power bill. Therefore, while it might seem like a high initial cost, buying a new energy-efficient appliance saves you money in the long run.
Check out a selection of models and determine which one offers the best performance combined with the lowest emissions. In some cases, you could also save money on a new appliance by buying from a store that provides an AARP discount or that offers a better price, so shop around to get the best possible deal on your new appliance so that you save money both now and in the future.
6. Rent out a bedroom to a roommate.
It’s not exactly a saving, but a fun way to spend your retirement, avoid loneliness, and cut down on your household bills is to get a roommate. Living with someone else means that you can split the cost of bills, and while there might be two people on the property, the chances are that you won’t use double the power or amenities. After all, appliances like your fridge and freezer use the same amount of energy all the time, but with two of you in the house, you can split the cost.
Also, roommates can be fun and make you feel safer, particularly if you feel vulnerable and unwell. That’s why so many retired Americans are choosing to get a roommate. When choosing someone to move in, you should try to find a person you already know, such as a friend, former colleague, or family member, so that you feel safe and comfortable around them.
Saving money in retirement doesn’t mean having to scrimp and never being able to treat yourself. It just means that you must be smart with your money. These tips should help you find ways to save money on necessities while still living your best life as a retiree. If you have any questions or suggestions, we always love to hear from you in the comments below. Also below are links to more fantastic articles about ALL things DESIGN for your home or business.
Images Courtesy of Canva.