I am receiving my retirement benefits but I am wondering how I can save money on a fixed income?
Here are some other ways you can save money:
- Create a budget that highlights your expected income, expenses, and saving goals. Keeping track of your expenses often and regularly will help you keep a closer eye on your spending.
- Major bank institutions offer discounts or free accounts for seniors. BMO offers a free chequing and savings account for seniors who are 60+. Canada Western Bank offers Gold Leaf Plus package for seniors who are 57+, which includes free monthly fee. Other banks such as TD, RBC, and Scotiabank offer senior discounts on select accounts.
- BC Bus Pass is $45/year for eligible persons for local transit.
- TELUS provides affordable internet and phone plans for seniors and it is always good to check yearly if you have the most economical plan. Seniors can benefit from $10/month internet, $20/month internet, and $25/month phone plans.
- Many grocery stores and restaurants offer senior discounts and may not publicly advertise it so check if one is available. Seniors enjoy 15% off at Bulk Barn on Wednesdays, 10% off at M&M Food Market on Tuesdays, and 10% off at Safeway on the first Tuesday of every month. Seniors also enjoy 20% off on coffee and tea at McDonald’s, 15% off every Tuesday afternoon and the 55+ menu at Denny’s, and 10% off at Subway.
For a full list of discounts and strategies on how to save money, feel free to visit our SOS office or call us at 604-982-3302.
Seniors One Stop Navigation Centre: 604-982-3302