I’m a Retired Boomer: Here Are 4 Ways I Save Money Every Winter
Written by
Sean Bryant
Edited by
Rebekah Evans
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After retirement, your budget changes drastically. You no longer have the income flexibility that you had while you were working. Instead, with a fixed retirement income, you need to be more proactive about knowing where each dollar is being spent and finding ways to save money when possible.
“When I retired a few years ago, I thought I was well prepared for retirement,” said Frank Baker, retiree living in North Platte, Nebraska. “Unfortunately, with rising prices from inflation, my wife and I were forced to look for ways to save money so we could continue to feel financially comfortable.”
Here are a few of the things Baker did to help save money in his monthly budget.
Sell a Car
Once you’ve retired, you’ll find that you’re no longer using your car nearly as much. No longer are you making your commute to work and you don’t have younger kids that you’re shuttling around town to their different activities. This makes having multiple cars no longer necessary.
“Throughout our adult lives, my wife and I have always needed two cars in our family. Living in Nebraska, you need to drive just about any place you want to go. However, after we both retired, we found that was no longer the case,” Baker said.
“We decided we could give up one of our cars, eliminate the payment and not miss it,” he added. “Plus, I found a way that I could help offset a portion of my monthly car payment. We have neighbors with a high schooler looking to make some extra money. I told him that if he found a blade, he could rent my truck to clear neighborhood driveways and parking lots after a snowstorm.”
Make Sure Your Home Is Bundled Up
If you live in an older home, you’ll most likely be susceptible to air loss through windows, doors and other areas of your home. This can make your heating bill cost more each winter. However, there are things you can do to minimize the air loss and save money.
“A few years before we retired, my wife and I downsized into a smaller but older home. We quickly realized that older homes aren’t nearly as insulated as new ones. Our windows are original to the home, which is part of what helps give the home character. Unfortunately, they are also terrible for energy efficiency. During the cold winter days, you can feel the chilly air from steps away,” Baker said.
“We don’t want to replace the windows because we’re afraid of what it will do to the home’s appeal. However, I now take precautions each fall before it gets cold. I install plastic window insulation and find that this helps keep a lot of the cold air out of the home,” he explained.
Use Senior Discounts
One of the nice things about getting older is that many things start costing slightly less due to senior discounts. For example, you can go to the movies and the ticket prices are less or you can get senior discounts at your favorite restaurants.
“Both my wife and I enjoy walking and working out to help keep ourselves in shape,” Baker said. “Unfortunately, winter in Nebraska can get pretty cold and grey. This makes being active a little more difficult. However, I discovered that through Medicare, we could take advantage of Silver Sneakers to get a free membership at our local fitness center. This helps us stay in shape during the winter and doesn’t cost us anything.”
Meal Planning
One of the biggest expenses for many families is food. With grocery prices rising significantly over the past several years, this has been a major obstacle for many retirees.
“My wife has always loved to cook. However, with groceries being so expensive, we’ve needed to be a little more efficient with our grocery budget,” Baker said.
“During the winter, my wife will fix a lot of soup. Not only do they taste delicious, but they can last for several meals,” he explained. “She doubles the recipe and we either have it for multiple meals during the week or freeze part of the batch and have it in a few weeks as another meal. We find that this helps reduce the amount of cooking needed and also the cost of meals.”
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