10 Small Ways Retirees Can Save Big Money at Home

Did you know that in the past two decades, nearly 80% of retirees held household debt? It’s no wonder. With the cost of living soaring, there are countless reasons why older adults might struggle to hang on to their cash. Sadly, retirement doesn’t mean all your financial problems go away. In some cases, it may even create more! But it doesn’t have to stay that way! Small changes can lighten your financial burdens. So, if you’re a retiree worried about money, don’t go anywhere! Here are 10 small ways you can save big money at home.

1. Cook at home.

We all love going out to eat. It’s relaxing, fun, and nice to have somebody else cook for a change. However, going out to eat often can add up fast. Over 40% of the average American food budget goes toward eating out. While a meal in a restaurant now and then might not break the bank, those who are trying to save money need to make every dollar count. Sure, you can always find ways to save money when eating out, but a better solution is to just cook at home. This, too, can be costly if you’re not careful, so try to figure out little ways you can save money. Use less meat in recipes, drag your slow cooker from your cabinets, and buy frozen fruits and veggies. You might miss eating out, but when you balance your checkbook at the end of the month, we happen to think you’ll feel it’s a worthy sacrifice.

2. Drive less.

You don’t have to watch the news to know the cost of gas is rising. Worse still, a lot of modern cars are gas guzzlers, demanding more and more fuel. So, does that mean you should just sit at home and not go anywhere? Of course not! Whenever you have the option to carpool or walk, do it! Giving your car a rest offers another bonus, too. The less you drive, the fewer repairs you’ll need. This, in turn, might help you gain a cheaper insurance plan. In other words, less driving means more savings!

3. Make your household cleaners.

Did you know that you can actually make your own household cleaners? The internet is a treasure trove for all-natural, DIY alternatives. Take, for example, THIS recipe for a scented all-purpose cleaner. All you need is an empty spray bottle, distilled water, borax, unscented soap, and a handful of essential oils. Or you can go even simpler and make a cleaner with just vinegar and water, two items you’re sure to have on hand. Of course, hydrogen peroxide (plus a little essential oil or lemon for scent) is also an amazing cleaner! So, the next time you run out of Windex, don’t run to the store. Instead, turn to Google and look up DIY recipes for household cleaners. You’ll save a lot of money in the long run!

Read Next: 6 Thrifty Tips for Seniors to Save Money on New Clothes

4. Install a clothesline.

Remember when you were younger, and your mom and grandma hung laundry to dry on a clothesline? Turns out, they may’ve had the right idea. Not only will you save on the cost of electricity, but you also won’t have to buy fabric softener. The fresh breeze is nature’s fabric softener, after all.

5. Repurpose old clothes.

Do you have grungy old tees lying around? Maybe a pair of jeans with a hole in the knee? Don’t just let them take up space in your closet and drawers. Instead, repurpose them! Here are a few fun ideas for repurposing old clothes:

1. Make a throw rug from old sweaters.
2. Turn an old tee into a dust rug.
3. Transform a sweater into a pillow cover.
4. Turn old shoes into planters.
5. Tie-dye old shirts.
6. Turn old socks into cute bunnies.
7. Transform old sweaters into scarves.

As long as you have a little creativity, you can repurpose your old wardrobe into common household objects and save a lot of money in the process!

6. Ditch water bottles and other bottled beverages.

Here’s a fun fact: you can save up to $200 a year by switching to a reusable bottle. Get a water filter and stop wasting money on single-use water bottles. If you want to save even more money, stop buying soda and other bottled beverages, too. $200 might not seem like much in savings, but you’ll be happy with that money in the long run!

7. Borrow instead of buying.

Buying instead of borrowing is the norm. But borrowing things can save you more money than you realize! For instance, consider borrowing books. We all have the tendency to buy new books we want, but library cards can equal big savings! Additionally, you can also rent tools and decorations instead of buying them. The possibilities are endless!

8. Learn to sew.

Sewing is more than a hobby. It can also be a useful weapon in our crusade to save money! Even novices to a needle and thread can complete sewing projects, from reusable makeup wipes to produce bags to scrunchies. Check out a list of beginner sewing projects to try HERE.

9. Invest in blankets and other heaters.

U.S. households spend an average of $1,020 on space heating per year (according to Self Lender). Unfortunately, the cost of heating is only going to keep rising. However, don’t hit the panic button yet. You can stay warm without sacrificing your life savings. Invest in a few quilts or blankets. Try out a pair of thick socks. Of course, you can always buy a small space heater, too!

10. Try out a staycation.

Most of us enjoy traveling. Vacation is fun and, in some cases, necessary. However, if you’re a retiree living on a fixed income, vacation might be a luxury you can’t afford. So, the next time you want to shake up your routine, why not try a staycation? Of course, you can also take a day trip! That’ll satisfy your wanderlust without hitting your wallet where it hurts.

Fun things you can do to make your staycation extra exciting:

1. Plan a backyard movie night: Get a projector and an old blanket. Then make some popcorn and invite over some family and friends for a backyard movie night. There’s nothing quite so magical as enjoying a movie in the great outdoors!
2. Camp outside: Dust off that old tent in your garage and wash your sleeping bags. Then invite the grandkids over and enjoy a night of backyard camping, full of fun, s’mores, and plenty of spooky stories.
3. Have a spa day: You don’t have to leave the house to have a fun spa day! Get some bath bubbles, facial masks, hand creams, and treat yourself to a little at-home R&R. You can also give yourself a mani-pedi.
4. Host a game night: Board games aren’t as popular as they used to be, but they’re still fun! If you have a closet full of board games that haven’t been used in a while, it’s time to plan a game night. Call up your friends (or loved ones), clear your dining table, and let the games begin. Literally.
5. Have a picnic at your local park: Picnics turn a regular meal into a fun experience. Find a nice, quiet spot at your local park, spread a blanket, and enjoy your favorite foods. Invite some of your friends, grandkids, or other loved ones to make it an even more enjoyable experience.

Read Next: 9 Budget-Friendly Vacation Spots for Thrifty Seniors in 2025

Looking for more?

If you’re looking for more thrifty tips, then check out these articles:

• 5 Thrifty Ways to Have a Cheap Vacation
• 7 Simple Thrifty Tips for Retirees Decorating the Patio This Summer
• 8 Thrifty Tips for Seniors to Save Money When Eating Out
• 9 Thrifty Gardening Hacks for Retirees Who Love to Play in the Dirt (that will save you HUNDREDS!)
• 10 Thrifty Decorating Hacks for Retirees

Image: Getty | Shutterstock

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