How to live frugally when you have become a senior citizen

How to live frugally when you have become a senior citizen

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Just because you have retired recently, it doesn’t mean that you can’t live on your own terms. In fact, this is the golden period of your life, and you should enjoy it thoroughly. There is no tight work schedule or deadlines. You can spend quality time with your family, do the things you love, explore your hobbies, and enjoy your retirement.

All you need to do is embrace a frugal lifestyle to do everything you want with less financial worries. When you’re retired, your financial resources are limited. If you don’t manage them properly, then you can run out of money faster than you have expected. Hence, you should always try to be a frugal senior and lead a frugal retirement life.

In this post, we will cover a few effective frugal living tips for seniors to make life less stressful.

4 Frugal living tips for seniors – Save money and reduce stress

Here are a few frugal living tips that seniors can use to save dollars and reduce financial stress.

1. Discontinued insurance policies:

Just because you’re a senior citizen, it doesn’t mean that you need to have all the available insurance policies. Some insurance policies like auto insurance, homeowner’s insurance, renters insurance are a must. However, there are a few insurance policies you can easily discard. For instance, disability insurance if you’re not working anymore.

If you don’t have any debt and you’re not dependent on anyone, then consider dropping your life insurance policy. Analyze your insurance coverage and think of policies that you don’t require anymore.

2. Take advantage of senior discounts:

Take advantage of senior discounts offered by Walmart to save money on grocery shopping. Some Walmart stores at specific locations offer discounts to seniors on specific days of the week. Some stores offer as much as 10% discounts to seniors. So try to shop on the senior discount day at Walmart.

Make sure you check out the senior discount age criteria before shopping at Walmart so that you don’t miss out on the golden opportunity to save money.

Apart from the Walmart senior discount, there are some other grocery stores where you can get lucrative discounts, and they are:

Gristedes Supermarket – Senior discounts (10% off on the total bill) are offered every Tuesday.

Kroger – Senior discount is available on the first Wednesday of every month. You can expect to get around 10% off on your purchases.

Albertsons – You can get discounts on the first Wednesday of any month.

Shoprite – You can get a 5% to 10% senior discount on either Tuesday or Wednesday.

Harris Teeter – You can get up to 5% off on your purchases every Thursday.

Apart from the ‘shoppers senior day’ offers, you can get senior discounts on auto insurance also. If you take a senior safe driving course, then you can expect to get a $20 discount on insurance premiums. AAA and AARP offer this driving course online. So it isn’t that you would have to go to a classroom to complete this course.

3. Eat and travel at the off-peak time:

You can save tons of money on airfare, food, airfare, and hotels during off-peak hours. Many hotels offer special discounts to tourists at an off-peak time. Many restaurants cut down rates just before the lunch hour and dinner hour. So try to reach the restaurant just before the dinner hour. It will not only help you to save time but also it will help you to save money.

4. Save on your property taxes:

Believe me, you can keep your property tax at the current rate and stop it from going up. All you need to do is check if this benefit is available in your state and then submit an application form. Open the state’s tax department and check out the eligibility criteria. If you meet the criteria, then apply immediately.


The aforementioned thrifty living tips can help you save money and lead a comfortable life after retirement. Apart from that, you can explore frugal retirement forums to know how to lead an independent financial life without any debt.