How to Cut Costs to Make Your cost of Living Lower and Stretch Your Dollars-Tips and Advice

The average retiree spends $2,758 a month, excluding rent/mortgage payments. However, one does not necessarily need to spend this much money.

While one can take drastic action to save money, such as moving to a state with a lower cost of living or lower tax burden, there are also simple ways of saving money that do not involve moving to a new location.

Following are some simple methods of how to cut costs to make your cost of living lower and stretch your dollars.

Cutting the Costs of Eating Out

Eating out costs the average retiree about $230 a month, according to While eating out is enjoyable and saves time, one does not need to spend a couple hundred of dollars on restaurant bills every month. There are several ways to cut costs in this area. The simplest way to save money would be to eat at home more often. Groceries are quite cheap compared to restaurant food, especially if one is shopping at a discount grocery store or dollar store.

Another way to save money and still enjoy eating out is to avoid eating out at “peak” times. Many restaurants offer special deals during “off hours”. By eating lunch or dinner a little earlier or later than normal, one can save a lot of money.

Look for Coupons

Coupons can save one a lot of money. Coupons exist for large retail giants such as Target, Wal-Mart and JC Penney. There are also coupons for restaurants, beauty salons, pet stores, auto repair shops and pharmacies. While many newspapers, magazines and brochures have some coupons, the best place to find coupons is the internet. Two good sites that have a wide variety of valid coupons are and

Watch the Utility Bill

The average retiree spends about $183 on utilities. This figure is quite high, especially for an active retiree who is not at home most of the time. Saving money that would have been spent on utilities is quite simple and only requires a little self discipline. Invest in LED light bulbs or other types of bulbs that converse power. Turn off lights when leaving a room. Do not leave the water running when brushing teeth. Also, be sure to check the utility bill carefully for any mistakes or errors.

Evaluating the Cost of Entertainment

Entertainment costs for retirees are not cheap. The average retiree spends nearly $100 a month on cable, satellite and other forms of entertainment. The easiest way to bring this cost down is to watch movies online instead of renting them. is probably the best website for this, as one can watch an unlimited number of movies and TV shows for only $8 a month.


Shopping is not a small expense. The average retiree spends over $450 a month on shopping, and this figure does not include groceries. A retiree who wants to save money will need to exercise some self discipline when it comes to shopping. The best option is to set a monthly limit and not spend over this amount, no matter what is on sale. Another way of saving money is to shop for items second hand instead of buying them brand new.

In Conclusion

If you are wondering how to cut costs to make your cost of living lower and stretch your dollars, consider the points outlined above. While moving to a state with a low cost of living may be in order, most retirees can save hundreds or even thousands of dollars a year right where they are. The above mentioned tips are simple yet effective when it comes to saving money.


Continue on with  our Free  Newsletter Topics

Topic  1 – How to Easily Calculate your Retirement Income in Five Simple Steps

Topic 2 – How to Determine Which States Have the Lowest Cost of Living for Retirees

Topic 3 – How Does Living Abroad Compare to Living at Home – Tips on Comparing Costs

Topic 4 – How to Cut Costs to Make Your Cost of Living Lower and Stretch Your Dollars – Tips

Topic 5 – How to Know Which States Have the Lowest Taxes that Affects Retirees

Topic 6 – What are the Top 3 Cities Recommended for Retiring Cheaply in the US

Topic 7 – Where Can You Find a Great Deal on a House – Tips, Advice,  and Options

or  click here to return you to this site’s  Homepage

feed icon