Tips for Living on Just Social Security?

January 3, 2020

How do seniors that live on Social Security only live on a tight budget? What are some ideas to stretch your dollar?



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January 3, 20200 found this helpful
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First off I would contact your electric company and ask about the senior program and how it works. They normally hae a way for you to save a lot of money on electricity. Next join on the loyality programs you can join, buy food with double coupons which can save you a lot of money. When you do cook, pepare enough food where you freeze some of it and have it another day during the month. There are many senior programs out there that should be able to help you out and sign you up for a lot of discounts and free offers.


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January 4, 20200 found this helpful
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Call all of your utilities and ask for the best deals, any free energy saving services, and budget plans if offered.

Cut the cable if you can or look carefully at the bill. Consider buying a compatible modem so you don't pay rental fees. See if you can get the cheapest package that meets your needs if you can't quit it totally.


Review your grocery bills carefully and look for ways to save. We now shop at Aldi and have cut our grocery bills by more than half. The only thing we never buy there is meat. We have reduced meat consumption and when we do buy it, we buy on sale.

Check your health insurance policy carefully and take advantage of all healthy living services. Staying healthy is so important and saves so much money!

See if you can eliminate or consolidate bank accounts to reduce fees.

Pay bills on line to reduce postage costs.

Sell off every unneeded item. You will be shocked at things most people have laying around their house that have value! If you need more information on this, this is my specialty!

With social security you are able to earn a small amount of money. Check with a tax preparer to learn how much and if you are able, either turn a hobby into income or find a place where you can work part time.


Speaking of tax preparers, check your library to see if they have free tax preparers. They may have other free services or classes you may enjoy and use as entertainment.

If you drive, look into a class that offers discounts if you take a safe driving class.

If you have an old, high mileage car, talk to your insurance agent about the best coverage. In my state you can drop replacement coverage and keep liability and save a bundle.

If I think of more, I will post back! Best wishes!

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Here are the questions asked by community members. Read on to see the answers provided by the ThriftyFun community.

August 27, 2018

How do I live on a Social Security budget?


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August 27, 20183 found this helpful

One of the first things you need to do is prepare a budget. When you know exactly what your monthly income will be, you can deduct regular monthly expenses and look for creative ways to reduce variable expenses such as gas, grocery, clothing, etc.


. Sites such as Thrifty Fun are an excellent resource for finding frugal living tips such as how to shop with a small budget, ways to lower monthly utility expenses and many other frugal living tips.


Gold Post Medal for All Time! 677 Posts
August 27, 20183 found this helpful

Very frugally! Make sure your rent and utilities are paid first. You can get help with food and clothing from charities. Some seniors get roommates to defray living costs. It works well for some and not for others.


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August 27, 20181 found this helpful

If you own your home and have no rent or mortgage to pay then it may be an easy task but not too many seniors are that lucky so you will have to set up a budget or you may find yourself in serious "money" trouble in a very short length of time.


  • Your budget will depend on what other resources you have and of course, the amount of Social Security benefit you will receive.
  • If you are alone and your jobs maybe only paid a low to medium salary you may not receive a large monthly check but if you worked (or your husband worked) at higher paying jobs for quite a few years you may receive enough to pay your monthly expenses but probably not a lot left over.
  • Since we have no way to know what your living expenses or your benefit will be it will difficult to tell you more than just making sure your living expenses (housing, utilities, food) are paid before going any further.
  • It would probably be a good idea to try and contact one of your local senior services agencies (Google senior services help with budget and your zip code) as there are usually several offices in most cities.
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  • If you cannot find help there then try writing to AARP and asking for someone to assist you, they will try to find someone in your area to discuss it with you.
  • You may be able to receive help from several government agencies but you will have to apply.
  • Some programs to check out:
  • HUD for help with affordable housing..
  • Food stamps
  • Medicare payments
  • Medicaid
  • You should ask for help as soon as possible so you will have everything set when you start drawing your Social Security benefit.

Bronze Feedback Medal for All Time! 196 Feedbacks
August 29, 20184 found this helpful

Building on all of these are some of the things I have found helpful when living on a fixed income:

1. Contact all of your utilities and see how you can reduce bills. Our electric company had a kit with those bulbs that last forever and other energy saving items--it was free. The other companies worked with me on less expensive packages or bundles or whatever they call them these days.

Note: Ideally I would have dropped a cable and internet as books and movies are free to borrow from the library and also you can get free internet, but I was out voted :) It is always an option and saves you TONS of money!

2. Relook at your grocery budget. Slash as much processed food from your diet as you can and look for inexpensive fresh alternatives. Find alternate places to shop...for example, Sundays, if we can make it to the flea market, they have amazing produce very cheap. I also get things like my favorite cereal (one of my few processed food keeps) at Ollies or Big Lots or Dollar General. They are often 1-3 dollars LESS than the grocery store...but you have to know your prices because some of their items are much smaller packages and the per ounce price is double the store

3. Buy ONLY what you need for the week and only stock up on things that are the very best price and won't spoil. This helps reduce waste, which saves money.

4. Don't be too proud to take things that are offered to produce from a friend's garden, or a hand me down outfit! Yes, adults do hand me downs! My most favorite outfit I am wearing now came to me that way and I always get compliments on it!

5. Talk to your bank about any accounts you have and if they are being charged fees, see what can be done to stop the fees and get a small amount of interest (better than nothing and much better than fees).

6. Talk to your insurance agent and see if you can reduce any of your premiums (like if you are no longer driving to work, you may be able to have a reduction on your car insurance) and if you are retiring and downsizing and no longer have a lot of possessions, you may be able to reduce your home owner policy. Consider changing insurance companies if you are not getting helpful information from your current agent.

7. Sell off your unneeded possessions. Yard sales seem to be a thing of the past...but if you can sell at a Flea Market or on Facebook or Craigslist (safety first here...only meet people in a public place like a police station parking lot or busy grocery store entrance), you can cash in on some of the clutter in your closets.

Consign or sell at a resale shop shoes, clothing, purses, jewelry you never wear. If you need hints on how to value your items--let me know and I can help with that!

8. Take advantage of free things (some are paid with your taxes already)--like if you need something notarized, don't go to an expensive notary--your State Senator's office should do it for free--same with making copies. The library is a great source for everything--books, music, books, internet, etc. Take advantage of it.

9. Take advantage of all the preventive services your health insurance offers--you may be eligible for free flu shots etc. This will help you stay healthy which saves HUGE bucks and improves quality of life!

10. Look for inexpensive or free alternatives for gifting...I am working really hard to give gifts of time vs. items....for many reasons...including gifts of time create lifelong memories and gifts of stuff create clutter.

Also I make my own cards in PowerPoint and email them to people for their birthdays--I just learned yesterday how to add music to I can create even better cards (a musical Hallmark card is $7--mine are a few minutes of my time--now that I learned from a YouTube video how to do this!).

You can live on less! Be creative, flexible, and learn to laugh! What works for me, may not work for you, and your solutions may be way better than mine!! Ask everyone you know what they do and learn from them, then teach them what you do!! Everyone wins!!

Wishing you all the best!

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March 15, 2013

Does someone know of anyone writing blogs/information about or by people over 70 living on Social Security?

By young77

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Budget & Finance Tips for SeniorsMarch 15, 2013
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