Retirement is your time to kick back and relax. But it’s hard to enjoy yourself if you’re constantly worried about your money situation.
Fortunately, there are super simple ways to save hundreds — if not thousands — of dollars each year. Whether you are trying to stretch limited dollars or just want to keep more cash in the bank, here are some easy ways to trim expenses.
1. Lower your cellphone bill
A cellphone is a virtual necessity nowadays. From video chats with the grandkids to using GPS to get to your next vacation spot, a cellphone makes life simpler and more enjoyable.
Convenience doesn’t come cheap though. The average cellphone bill is more than $125 a month, and Consumer Reports says plans for major carriers can be as much as $240 a month, depending on the number of lines and service selected.
That’s a lot of money — as much as $2,880 per year.
But you can get cheaper service. With our cellphone comparison tool, you’ll be able to quickly compare plans from 40 different carriers and find one that fits your life and saves you money. For every $10 you chop off your monthly bill, that’s an additional $120 in your pocket at the end of the year.
Your savings could be much, much more. Compare the best cellphone plans and see how much you could save.
2. Refinance your mortgage and save thousands
If it’s been a while since you refinanced your home, Rocket Mortgage is going to amaze you. No more tedious trips to the bank to complete stacks of paperwork. Instead, the process is streamlined and can be done in an app.
And let’s talk about why you should refinance. Have you seen the mortgage rates lately? They are so low that anyone who hasn’t refinanced within the past three years is probably leaving money on the table. We’re talking near historic low rates right now.
Refinancing could shave thousands off the overall cost of your mortgage. Or you could use a mortgage refinance to pay off your home more quickly. Now, wouldn’t it be nice to get rid of your monthly housing payment for good?
Don’t wait to find out how much you can save. Visit Rocket Mortgage today to compare rates and lower your payment.
3. Find cheaper home insurance in minutes
Speaking of your home, you don’t have to pay an arm and a leg to insure it.
The average annual cost for homeowners insurance is about $1,200 and can be much higher, depending on which company you choose. Higher premiums don’t necessarily mean better insurance either.
Are you getting the right policy at the right price? With an insurance marketplace called Policygenius, you can compare policies from top-rated companies all in one place and get great coverage at a great low rate.
Now, you may be thinking that you’ve been a loyal customer to your current insurance company, and they are rewarding you with low rates. But that may not be the case.
Find out for sure by comparing home insurance quotes with Policygenius in minutes.
4. Save $440 a year on car insurance
Car insurance is another expense that seniors can easily slash. As your driving habits change, you may find new coverage can save you hundreds each year.
In fact, we’ve found that people who shop for car insurance on The Zebra could save as much as $440 a year on their premiums.
The Zebra is designed to make it easy to compare quotes from multiple companies, including the industry’s major providers. You can buy online or call and talk to an agent if you want the help of a professional.
Either way, this can be an easy way to free up money in your budget for more enjoyable things — like that vacation you’ve been planning.
Try The Zebra for yourself and see how much you can save.
5. Pay off debt faster and save $4,185
Nobody needs to tell you to get out of debt. You know that. But you also know it’s easier said than done, especially when you are already trying to stretch your retirement savings and Social Security payments each month.
That’s where Tally can help. We discovered this app is the way to go if you have credit card debt. It can help pay off your balances twice as fast and may even save you as much as $4,185 in the process.
It takes only minutes to see if you’re eligible to set up an account that will help you punch your way out of high-interest debt. The app consolidates your debts, makes your payments easy to manage and may even result in a boost to your credit score. Better yet, you won’t pay out-of-pocket to use Tally’s service.
Won’t it feel good to finally save goodbye to credit card debt forever? Set up your account with Tally and start paying off that debt faster.
6. Get paid to shop — plus a free $40 bonus
Shopping online is so convenient. And there really is no end to what you can buy on the web. Tools for the workshop? Check. New clothes for vacation? Check. Presents for the kids? Check.
Wouldn’t it be nice if there was an easy way to save money on all those purchases? Well, there is. It’s called Rakuten.
Yes, we know. The name is a little weird-sounding. But you’ll forget all about that once you realize you can get cash back from virtually every purchase made through the site.
It’s not complicated either. You simply log in with Rakuten and search for the store you’d like to shop — Walmart, Target, Lowe’s or one of the hundreds of others. Rakuten shows you available discounts, and then you click the link to shop at the retailer’s site and earn cash back.
New members are entitled to a $40 cash-back bonus too. Start earning cash back on Rakuten today and claim your free $40 bonus.
7. Save $126 at checkout with this lazy trick
This really is the laziest way to save money. It’s called Honey, and it’s an extension that you install onto your browser.
It’s super easy to install — just a few clicks — and then Honey will be constantly watching for ways to help you save as you shop online. When you get to the checkout, it will let you know if the store has coupons available and then it will automatically try those coupons for you.
Even if there are no coupons available, you could still earn Honey Gold, which can be redeemed for gift cards or cash. I bought a microwave earlier this year and earned enough Honey Gold to redeem for $50 through Paypal. Between the coupons and the cash back, you could easily save $100 or more for a large purchase.
Want to know another fun feature I love about Honey? On sites like Amazon, it will say if the price has changed recently and whether the current price is a good deal. If it isn’t, you can add the item to a watchlist to be notified when the price drops.
Join Honey now (it’s totally free!) and try it for yourself.
8. Cancel unwanted subscriptions (without even picking up the phone)
Remember when you used to be able to buy software for your computer and it was a one-time purchase? Not anymore. Now you have to pay a subscription fee to keep using it year after year.
In fact, it seems like subscriptions are everywhere nowadays. It’s not just magazines and newspapers but apps, websites and streaming services too.
Fortunately, we found a nifty app that will ferret out all those subscriptions you unwittingly signed up for and cancel them. It’s called Truebill, and it’s already been downloaded by more than 2 million people.
Not only will Truebill cancel your unwanted subscriptions, but it will also negotiate down your bills and can even advance you some cash when you need it. Plus, the app comes with a collection of convenient features to help you track your credit score, plan a budget and understand your net worth.
Create your free Truebill account today and bid farewell to those pesky monthly charges.
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Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.