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Another saving area which is more of interest to the senior/retiree set than the general population is prescription drugs. I did not check into this area until the prices of our prescriptions shot up after our health insurance service got switched from Medco to CVS Caremark.
I was astonished to find that I could get some medications cheaper through Walmart/Target/etc. $4 prescription program than through our insurance program.
Unfortunately some of the medications such as my husband's blood pressure pills were not listed in these $4 prescription list. I searched several websites, apps
and found that it was much cheaper to get the med through CVS Health Saving Pass program than through CVS Caremark (with insurance discount!)
Further digging into the prescription cost, I discovered the reason my husband's medication was not on the $4 generic drug list because it was a combination drug: Benazepril/HCTZ 20-12.5mg. The combined pill just makes it convenient (pop one pill instead of two) and offers no added benefit at a significantly higher cost. So instead of getting the combined pill for $50/month, we could buy Benazepril (generic version of Lotensin) and Hydrochlorothiazide (or water reduction pill) for $4 each at Walmart. We went back to the doctor to ask for the new prescriptions. Lo and behold, the cost of these two prescription through the insurance program dropped lower than Walmart price at 25x lower than the cost of the combined drug!
I think it is more a state of mind than anything. If you decide to be happy with less, you are. I remember my college and young adult days and I think retirement would be the same (I'm not quite there yet). I didn't mind the cheap seats at an MLB game. I got to go, and that's all that mattered! Same with any other venue. I got the cheap seats. And incidentally, that is going to be my mantra this year because I want to save money on things like ball games and concerts and use the money for a family vacation instead. So will still be going to concerts and ball games, but less expensive seats.
I didn't mind cheap clothes. I wore really cheap K-Mart clothes. When you are young and thin, you can look good in anything. But I think if you choose wisely you can do the same when older. I was in Target the other day to get something else, but when I walked by the clothes I saw several shirts that caught my eye. I bought several tanks to wear under other shirts and then another shirt with a 3/4 sleeve that I just loved the style and color.
I don't need 90 pair of shoes and 90 purses. I have tennis shoes, a couple of pair of sandals, my trusty, comfortable black flats plus dress shoes in blue and brown too, and a pair of boots. That's it. I will wear those until they wear out or smell bad. I have a black and a brown purse, both leather.
I ate cheap food and once in a while would splurge and go out. Instead of ribeyes, did you know that what they call spencer steaks or Delmonico steaks are basically the same thing? They look a little different, but they taste the same. I still snatch those up whenever I see them in the store, even though we can afford ribeyes now! Also, ask the butcher at your grocery store when they put out ribeyes or other steaks for clearance. My store is Wednesday morning.
Groupon! If you like to go out to eat, it is definitely worth buying Groupons for restaurants you like. We like to go out for Sunday brunch and there are groupons a lot of times for one of the places we go. I only buy groupons for places I know we like (or know we will like).
I agree, it is something that a lot of people practice throughout their lives. It really isn't specific to a certain generation... even Gen x's need cheap meds, cheap clothes etc.
LauraC, thank you for this reminder. We live in Upstate SC(Greenville) and it is the same thing around here. The activities are endless, the majority of them at no cost. We moved here a year ago, and it is a great fit for our limited retirement budget. We love it here.
I had no idea there were free things going on until after I moved in retirement and began to check out this state. I guess when we are working, we need the weekends to do chores like grocery shopping, clothes shopping, cleaning, post office visits, banking, car servicing, dry cleaning pick up, etc., but when we're retired we have more leeway to move those things to other days. It also helps to have states and companies to offer free events. I know when I lived in NY most parks were not free but besides retirees think of what a relief these free events can be for families who are trying to stretch their money.
Yes - both very good ideas. I purchased my first freezer in the 70s. You are right - even a small freezer gives a person a lot of options with buying items on sale or with freezing one's own produce from the garden.
I have been doing more and more container gardening the last few years. It is amazing how much produce you can get out of a container.
Thank you for the tips!
I like to go with the flow, so I gave up the freezing of food to "save money".
We don't eat a lot. I like to cook for fun, not necessarily because I am going to eat it - weird I know.
I've canned, preserved, hydrated, had a huge garden etc. Even though I love fresh eggs, I still remember the smell of wet chickens being plucked for cooking - so no way Jose. What would you do with an old hen, other wise.
We enjoy going out to eat a couple times a week and graze the rest of the time. As I've gotten older, the things I enjoy eating change constantly. Right now all meat smells off to me. Maybe its a sinus issue -who knows - so why have a bunch of stuff in the freezer I might not use.
I will still grow tomatoes because the taste of store tomatoes is just so sad.
Another note about Goodwill (thrift store shopping) As I mentioned in another thread, us woman were born with the shopping gene I sometimes think, shopping can be enjoyable. If you can actually save money shopping at the same time, provided you don't buy useless stuff (or if you do, it is not too expensive) than you have hit two birds with one stone. It can serve two purposes. One is the entertainment factor for a reasonable sum, the second is a need factor at a reasonable sum. Spending $15.00 for one or two hours of entertainment, plus purchasing something useful at a very reduced rate (senior day) can really be a win win situation. I may not have gone in for wrapping paper, but now I have enough for two years for $3.00 bucks instead of $30 at retail !
My experience with thrift shopping is that if I go to find something I need, even if I have seen such an item there a million times before. When I go there specifically for that item, they never have any. However, when I peruse a store, I sometimes see something at a great price that I didn't come shopping for, but still can use, so that is the time to strike. In other words, it's not like going to Macy's or Targets, where your bound to find what you need every time. It's striking while the iron is hot when ever you happen upon something. So, I akin it to more entertainment that can be fun and that often times saves you money in the long run.
I agree with you, it's entertainment, the "spirit of the hunt", as it were. You might not find anything you can't live without this time around, but it's fun looking. And you never know. You're also right about the expense ( even if individual items are cheap) if you insist on buying stuff you don't really need, but the other issue can be about what in the world you will do with the item, or where can you put it when you don't have room for it or a place for it. That's a consideration for us retirees who are looking to "downsize" or get rid of "stuff" as we get older.
If you have a smartphone, google money- saving or money-making apps for iPhone or android.
You won't get rich, but I have saved/made a couple hundred dollars over the past few months using apps like Ibotta, Checkpoints, Checkout51, Snap, FieldAgent, Shopkick, ReceiptHog and several others. I have never had a problem getting paid. It goes straight to your paypal, although some have a minimum threshold for payment.
The trick is, of course, don't buy stuff you don't need just because there is a rebate
I'll give you an example: One shopping trip with ibotta I got a $4 rebate for Amstel Light beer that I was going to buy anyway, $1.25 for makeup, $1.00 for Gardein vegan products, $1.00 for falafel. I also used that same receipt for Receipt Hog and Checkout51.
I'm vegan so I didn't use the rebates for milk and meat products of course. There were several of those.
On the issue of trying to live frugally or finding cheaper ways to stretch a dollar during retirement, I think this is very much tied to the retirement forum, as much as ways to invest and manage your "stash" is in retirement is. It is doing what the other half must do (or even like to do) to make it through their retirement years and still be able to provide for themselves.
When people come on here who have not amassed a "comfortable" living for their retirement years, they are looking for posts they can relate to and to see how other people are managing despite their shortfall. We could just as well say that all the advise pertaining to financial planning for retirement belongs on the financial boards. (and mathjak would be out of a job)
The famous book, "The millionaire next door", teaches us to live below our means as a means to save money for retirement years. The same principal applies to people trying to make it in retirement on less money. So if this subject matter must be delegated only to the "Frugal" forum, then all talk of financial planning and structuring of your funds for your retirement years, belongs on the Financial" forum as well.
Hair coloring...ugh... thousands of dollars spent, thousands of hours wasted in a salon chair. Even done at home it never looks like a salon job or really good coverage. And then if you over dye the already colored strands, like from the new gray growth down it gets way over processed and looks darker than the top. Never again.
One good breeze and you and everyone else can see all the spots you missed.
I don't think I have ever seen anyone whose hair has blown around and suddenly roots appear.
There are many good products out there, including non-permanent dye that people (male and female) can use to keep their hair color looking fresh.
Now, if you just can't be bothered, that is one thing . . . but maybe you prefer gray hair. Nothing wrong with that. Some people don't look dragged down with gray hair. Some do.
Most of us could not care less what choices other people make. But I do appreciate getting tips about ways to save money if we decide going a particular route is for us.
I have prematurely white hair. Starting turning white at 30, same as my grandmother's hair. My sister's, too. Someday, I will go platinum blonde. Different strokes for different folks.
I can't imagine that anyone really cares what someone else is doing.
Thanks for the thread, brokensky. I have to LOL because my chiropractor's office is named Abundant Life.
We've been garage sailing and parting out tractors for years on ebay and we love it. It was a weekend thing while we were working but it's a full time as we want it to be now.
Tinkering with the tractors keeps our auto tech skills up and also allows the parts we sell from them to be restored and treasured by our fellow Cub Cadet collectors.
We've always been frugal so we could pursue our interests. My parents were frugal even though they came from well to do families. It's what they were taught.
Never take anything for granted, every day is a gift. Live, don't just exist. Find your joy.
<3
Same here. I was taught - be a good steward.
That means - use, re-use, recycle, upcycle, share, repurpose.
It is a matter of stewardship.
For those who don't care about such things, that is certainly their business. This thread is for those who DO care about such things.
I totally agree - find some joy in every day - or what's the purpose of being here?
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