I’m Retired and Cut These 5 Bills: Here’s How Much I Save Monthly
Written by
Laura Beck
Edited by
Molly Sullivan
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Retirement means living on a fixed income, and Jonah B. wasn’t about to let wasteful spending eat into his nest egg. The 67-year-old retiree took a hard look at his monthly bills and found plenty of fat to trim. After 40 years as a manufacturing supervisor, Jonah knew the value of efficiency. He applied the same no-nonsense approach to his household budget that he used on the factory floor. The result: $638 dollars in monthly savings without sacrificing his quality of life.
“I worked too hard for too long to throw money away on services I don’t need,” Jonah said. “Every dollar I save is a dollar I can spend on things that actually matter. Should I mention that’s my addiction to Menchie’s froyo?”
Here are the eight bills Jonah eliminated or reduced after retiring, along with his monthly savings on each.
Gym Membership
- Savings: $89 per month
The $89 monthly gym membership had to go once Jonah realized he was paying for a facility he rarely used. Retirement gave him time to exercise outdoors and at home instead of rushing to the gym between work commitments.
“I was paying 90 bucks a month to use a treadmill when I could walk around my neighborhood for free,” he explained.
Jonah invested in basic home workout equipment and uses free YouTube fitness videos designed for seniors. He walks daily and does bodyweight exercises in his garage. Sometimes his son even joins him.
Car Insurance
- Savings: $73 per month
Jonah hadn’t shopped for car insurance in over a decade. When he finally compared rates, he discovered he was overpaying significantly for the same coverage.
His previous policy cost $198 monthly. After shopping around and adjusting coverage for his reduced driving in retirement, his new policy costs $125 monthly. The savings: $73 per month.
“As my son who works in insurance told me, insurance companies count on people being lazy,” he said. “Twenty minutes of phone calls saved me almost 900 bucks a year.”
Jonah also qualified for a low-mileage discount since he drives much less in retirement. The combination of a new carrier and adjusted coverage meant major savings.
Subscription Services
- Savings: $127 per month
A subscription audit revealed Jonah was paying for multiple services he forgot he had. Magazine subscriptions, streaming services, software renewals and app subscriptions added up to $127 monthly.
“I had subscriptions for things I signed up for years ago and completely forgot about,” he admitted.
Jonah canceled everything except Netflix and one magazine subscription. He realized most of the digital services offered free alternatives or weren’t necessary for his lifestyle.
The process required reviewing bank statements and canceling services one by one. Some companies made cancellation difficult, but Jonah persisted until everything unnecessary was eliminated.
Home Security Monitoring
- Savings: $49 per month
Jonah’s home security system cost $49 monthly for professional monitoring. He realized the system still worked without the monitoring service and decided the monthly fee wasn’t worth it.
“The alarm still goes off if someone breaks in,” he said. “I just don’t need some company calling me about it.”
He kept the security system hardware but eliminated the monitoring service. Neighbors and local police provide sufficient backup if the alarm activates. The system still deters break-ins without the ongoing monthly cost.
Lawn Care Service
- Savings: $300 per month
Jonah’s biggest monthly savings came from eliminating his lawn care service. The $300 monthly cost covered mowing, edging, fertilizing and seasonal cleanup for his half-acre property.
Retirement gave him time to handle yard work himself. He bought a quality used riding mower for $800 and basic lawn care equipment for another $200. The initial investment paid for itself in less than four months.
“I actually enjoy being outside and working in the yard,” he said. “Plus I know it’s done right because I’m doing it myself.”
Jonah handles all routine maintenance and hires professionals only for major projects like tree removal. His annual lawn care costs dropped from $3,600 to about $300 for fertilizer and equipment maintenance.
The Total Monthly Savings
Jonah’s bill-cutting exercise eliminated $638 in monthly expenses:
- Gym membership: $89
- Car insurance: $73
- Subscription services: $127
- Security monitoring: $49
- Lawn care service: $300
The annual savings totals $7,656, which Jonah redirects toward travel and home improvements. The money he saves on bills funds the activities he actually enjoys in retirement.
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