SENIOR CITIZEN CONCERNS: HOW TO PINCH PENNIES

Aug 3rd, 2012 | By Sharon Shaw Elrod MSW EdD | Category: Senior Finances

Find Extra Cash in Unusual Places

Senior finances is still on the top ten list of things seniors are concerned about. Most senior citizens are on the constant prowl for saving money and picking up extra cash.  The SCJ article on discount shopping gets a lot of reading almost every day.

A mental review of our editors’ activities over the past month reveals some interesting ways to save money living on a fixed income.  Here’s what we found:

  • One editor is a coupon-junkie.  He saves every coupon he believes he can use.  He took us for coffee and donuts last Saturday morning, gave us each a receipt he had saved from previous visits, and as a result, coffee and donuts for four people came out to a little over $3.  Coupon shopping is a favorite for many seniors.

  • Another editor saves cash in a big jar. He frequently empties his pockets of cash, and promptly drops the handful into the jar.  It is so large now that he has to use a moving-dolly to move it around.  We’re wondering how he is going to get it to the bank when the time comes!  If you try this, you might use a smaller jar, and do bank runs more frequently.
  • Last year, I discovered some gold jewelry that I no longer wear, and some pieces removed from gold watch bands (I always request them returned to me when a band is made smaller) in my jewelry chest.  I gathered them all up and took them to a friend who buys gold and silver. He did his weighing and calculating, and I ended up with over $300!
  • Rebates.  Always look for them when you make a major purchase.  Well, minor purchases as well.  I recently purchased some mouthwash that runs more than the ordinary because it helps keep the mouth moist during the day.  It’s pricey, but I found a rebate for half of the purchase price.  I completed the information requested and am now waiting for my rebate in the mail.
  • I am often teased about the gazillion loyalty/reward cards on my keyring.  But I’m not teased about the savings I receive when I use them.  The pharmacy card often produces a receipt for savings on items in the store.  Another often has a $2 or $3 immediate rebate.  My grocery store card gives me ‘cents off’ gas at their pumps; I sometimes get as much as 30 cents off each gallon of gas because my total purchases the previous month exceeded $300.  Those loyalty cards are really helpful for seniors.
  • And the one we’ve talked about before is selling household items on Craigslist.com.  Be sure to get a good picture to upload when you register the item online.  SCJ editors have found Craigslist.com immensely helpful in selling things they no longer want, and there is no cost to use the website.

 



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