Living on a fixed income in retirement can present challenges, but it doesn’t mean you have to give up on your passions or the things you love. Here are a few ideas to stretch your dollars:
Use the discount countless. businesses offer discounts or free programing for those of us past a certain age. Next time you’re making a purchase, from toothpaste to takeout, make sure you’re taking advantage of any deals available. These discounts may not be advertised, so it’s worth an ask. Every dollar can really make a difference.
Re-evaluate expenses. Review your core expenses, like housing, utilities and telecommunications and see if there are any opportunities to save some cash without hurting your quality of life in a big way.
For example, are there things you can do around the house to cut utility costs, like doing laundry in cold water or sealing up your doors and windows to prevent heat loss? Are you taking advantage of programs that help lower your financial barriers?
When it comes to technologies, programs like Telus Mobility for Good for Seniors and Internet for Good for Seniors allow eligible low-income seniors to access discounted smartphones and wireless plans across the country and benefit from low-cost, high-speed internet in some provinces. These programs can help you manage your budget while you stay connected with loved ones, access online healthcare resources and participate in virtual events.
Focus on community. Although a careful budget is important on a fixed income, don’t get so stuck in the details that you lose sight of yourself and your community. Making new friends and spending time with loved ones doesn’t rely on high spending. There are affordable ways to connect. Try going for a weekly walk with a group in a local park, join a class at the library or participate in a free seniors’ night at a local museum or gallery-NC
