Discounts and the Frugal Baby Boomer

By: Jody Smith

Don't let all the bad press we've gotten over the years fool you. Not all Baby Boomers are extravagant and self-centered with their money. Plenty of us know the value of a dollar, and some of us who didn't in the past, will be learning it in a hurry.

For some Baby Boomers, everything here will just be confirmation of things you've known and practiced all your lives. Congratulations to you on a job well done. For others, this may be a list of some new, really good ideas that have the potential to change your life. You don't have to be a Baby Boomer or a senior for these things to be worthwhile. The younger you are when you work these things into your lifestyle, the healthier your bank balance and your savings will be now and for the rest of your life.

This one is basic. Know the difference between wanting and needing. This is easier to do if you resist buying on impulse. Whatever purchases you make, make them with cash instead of credit wherever possible. If you use your credit card, pay it off by the due date and save yourself the interest.

Discounts are one of the good things about getting older. Look for them, ask for them, seek out places that offer them. Don't be shy, you've lived this long, you might as well be cashing in on the accomplishment.

The stores you shop in and the restaurants you eat in may offer senior discounts, usually on certain days of the week.Discounts can be found for fares on airplanes, buses, cruise ships and trains. Some credit card companies offer discounts on interest rates and some waive annual fees just because you're old enough to qualify.

Some utility companies offer senior discounts on insulation and heating. Some will give you an energy assessment for free. Other warming options are local grants that apply to various types of heaters and home improvements. Ask about a senior discount on your car and home insurance. Better yet, have these insurances with the same company and get a lower rate as well. Once you're over 50 years old, check out AARP for car and home insurance. Discounts can be gotten through AAA as well.

Seniors may receive help in paying their rent from the U.S. Department of Housing and Urban Development. The USDA's Supplemental Nutrition Assistance Program offers help to seniors for buying groceries. Assistance with heating bills and home repairs that make your home more energy-efficient come from the Low Income Home Energy Assistance Program. Medicare Savings Programs may lower your medical insurance premiums. You may qualify for a free cell phone plan.

Public benefits are out there for seniors to take advantage of. Find out more from the U.S. Department of Health and Human Services Eldercare Locater. You can also go online to learn what benefits you may be eligible for, from the NCOA's BenefitsCheckUp service.

Jody Smith is a freelance writer for EmpowHER.com.

Sources:

30 Money Saving Tips for Senior Citizens

http://www.seniormoneymemos.com/2011/12/15/30-money-saving-tips-for-senior-citizens

10 More Ways For Seniors To Save

http://seniors-site.com/blog/2011/08/10-more-ways-for-seniors-to-save

SHARE THIS STORY WITH YOUR FRIENDS!

More Sharing Options

X
  • Facebook

    SHARE NOW!

  • Twitter

    SHARE NOW!

  • Email

    SHARE NOW!

  • Pinterest

    SHARE NOW!

  • Tumblr

    SHARE NOW!

  • Google+

    SHARE NOW!

  • Reddit

    SHARE NOW!

  • Flipboard

    SHARE NOW!

  • LinkedIn

    SHARE NOW!

  • StumbleUpon

    SHARE NOW!

  • Digg

    SHARE NOW!

  • We Heart It

    SHARE NOW!