12 ways to save money whilst on a pension or low income 99



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It can be hard when you’re on a pension to see people your own age having fabulous trips and going travelling all over the place. They seem to have it all and you would too, if you had money. While the pension doesn’t seem like a lot of money (because it isn’t), there are ways to save every week so that you can enjoy life and make the most of your 60s and beyond.

Here’s 12 awesome and clever tips to save money.

1. Pay your bills in advance – put whatever you can a week towards your electricity or gas bill, even if it is $5. You’ll be surprised how far ahead you may get. Another idea for bills is to have an account especially for them where your direct debits come out of. Add you your yearly expenses and divide by 26 (how many times you get the pension).

2. Grocery shop either around 8am or 5pm to take advantage of mark downs – supermarkets are well known to use these times of the day to mark down fresh produce, which you can freeze if you’re buying in bulk or may not use it.

3. Get rid of the car if you don’t need it – if you live close to shops and your relatives, and only drive a few days a week, it could be a good idea to get rid of your car. It may feel like you’re getting rid of your independence but in actual fact you will get more money to spend on things you enjoy.

4. If you need something, buy it secondhand – Gumtree and eBay have millions of items ready for you to purchase at a great price, and some even for free on Gumtree. You can get awesome deals on things that have barely been used.

5. Find a side gig – if you are really doing it tough, why not starting doing something you love and get paid for it? Write a book, sell your goods at markets, or set up a dog walking business! This small amount of extra income willg et you close to your goal.

6. Stay away from restaurants – restaurants are an easy target if you want food and now. If you want a great meal, why not have friends over and everyone brings a plate? Plan your meals in advance so you can only buy those ingredients and freeze anything you don’t eat.

7. Use coupons – there are plenty of great coupon sites such as Groupon that allow you to get discounts off every day services and products. A good habit to get into is to Google search the shop you want to go to and see if there are any special coupons you can use before you go. Smart phones are useful in that you can find a voucher then display it on the screen to the attendant.

8. Take advantage of free activities and events – free activities are everywhere…you just have to find them and keep your eyes open. You can have a whole day out for absolutely nothing in every state in Australia. Google search wherever you are and look up event listings.

9. Drink more water – if we eat more, we’re going to spend more. Over 60s are much more prone to dehydration, yet we don’t feel like we are. So have a cup of water instead of eating and you’ll be amazed at just how much less food you snack on.

10. Sell up – let’s face it: as we get older, we accumulate more. We bet there’s at least 10 things in your house that you could sell and earn yourself some cash. Why not hold a garage sale or even sell your items on Gumtree? It’s free.

11. Sign up for free customer rewards programs – many retailers want you to sign up to their rewards programs for free and they will reward you with coupons and so forth.

12. Make your own gifts – it seems so easy to buy a readymade present for everyone in your life but if you have a big family, it can get very costly. So why not make presents? Pinterest has thousands of ideas for making cheap, heartfelt gifts. This can include cards as well, which your grandchildren will love.


Do you have any other pension-saving tips to add?

Starts at 60 Writers

The Starts at 60 writers team seek out interesting topics and write them especially for you.

  1. When the Pension went up by $40, I’ve been Saving that 4 Accounts & other things plus I stopped using a Credit Card. Hopes this helps

  2. I am in the fortunate position of owning my home, not much else. I pretend I pay rent, and put it into a special account for holidays or emergencies.

    4 REPLY
  3. We save all $5 bills adds up a few thousand in a year

    1 REPLY
    • I’ve been saving my gold coins – apparently you can fill up a small Coca Cola bottle with $2 coins and you can fit $1,000 in! Think I will save my $5 notes as well, thanks to this post! Must admit most of my “spare” money goes on my hobbies and interests!

  4. We now own everything so when we qualify for the pension we will actually have more money for ourselves then when we were bring up our family and paying off the house.

    4 REPLY
  5. I save my gold coins. It took a few years, but I had my first overseas trip last year (to France) at 69 years of age. It was well worth waiting and saving for.

  6. Well said Geoff Hunt, I agree. And we save for our trips by no alcohol, no cigarettes, not much dining out, etc

    1 REPLY
    • Sounds quite boring Dianne don’t know if I could give up alcohol for a long time.

  7. This is such a good article. Can we have more posts like this please rather than inciting anger on this site over politically motivated crap. Thanks and keep up the good work admin.

    2 REPLY
    • Thanks Maureen! We always have informative non political articles, you can browse 24/7 on our website startsat60.com

    • I so agree with your sentiments Maureen,it’s a free society and we are so lucky to express what we want, but I’m not buying into a political debate here as it’s just filled with self-righteous ignorance, “my party’s better than yours,”it’s becoming so boring, if it was an interesting debate I might be tempted.

  8. Pledge (to yourself) not to buy clothes for a year.

    2 REPLY
    • Eeeish – that’s a tall order!!!
      But I do make use of Salvo’s etc 🙂

    • Christine, I’ve sometimes gone YEARS without buying ANY clothes or shoes. Widowed young. Made do and often sewed my clothes (including overcoat and all Winter dressing gowns), plus much of my three young children’s clothing, incl. jeans and school Winter tracksuit uniforms.

      Only over the past 8-9 years have I a bit more in my wardrobe. Plenty of old gardening/painting clothes, though, which get regular use.

  9. I rarely eat out, only pay by credit card, using cash I was always out of money & had no idea where it went, When you only have a few dollars in your purse you can’t buy odds & ends , I also see how much I spend in Supermarkets per month, I have reduced that ,too . Was buying far too much. I have always paid Gas & Electricity rates etc in monthly instalments ,just ring each month and put on card.

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