Hack Your Retirement: Budget Tips for Fixed Incomes

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(BPT) - For any individual 50+ years old, the prospect of retirement represents a major shift in how you approach spending and saving. Learning how to budget on a fixed income is a significant lifestyle change; but AARP member benefits can help you save where you can and embark on this well-earned new chapter with less financial worry.

Are you still unsure if AARP is worth it? At $16 a year, AARP provides access to hundreds of benefits that help you live your best life. From health and wellness benefits, travel and restaurant discounts, financial tools, volunteering opportunities, to everything in between — AARP Member Benefits can help to enrich all aspects of retirement.

With the everyday savings found via AARP member benefits, even your children or grandchildren can start to save for their own retirement. Even if it seems far in the future for them, the member benefits provided by AARP give everyone the opportunity to save on everyday items.

Here are three ways you could start saving today:

Shop Smart on Small Purchases to Make Your Budget Go Further

It’s the small, everyday purchases that can sometimes add up without us realizing. By making smart choices on where you shop for daily necessities, adults 50+ can make their fixed income go further each month.

When you link your AARP and myWalgreens® memberships, you'll earn 10% Walgreens Cash rewards on Walgreens branded health and wellness products, 7% Walgreens Cash rewards on Walgreens branded beauty and personal care products and 3% Walgreens Cash rewards on all other qualifying beauty and personal care products. Exclusions and restrictions apply. For full details, visit Walgreens.com/AARPcard.

Travel at Your Leisure by Keeping Gas and Vehicle Costs Low

A transition to retirement frees up your time to travel. Those approaching retirement are often in a stage of life where they have the freedom to hop around and visit children, or travel to take care of their own parents. If you find that you are a heavy user on your vehicle there are practical ways you can save while you hit the road.

When you link your Exxon Mobil Rewards+™ account to your AARP membership, you earn extra points every day on the things you already buy, like fuel, car washes and convenience store items, and you’ll earn 2x the points on fuel on member days. AARP members who are new to the Exxon Mobil Rewards+™ program will also receive a 500-point bonus ($5 in savings) after their first fill-up to redeem towards Exxon or Mobil fuel or convenience store items. Every 100 points you earn is the equivalent of $1 in savings on eligible purchases.

AARP member benefits not only help you save on gas, but also unexpected expenses such as car maintenance and repairs. Members save up to 20% on annual membership fees for Allstate Roadside assistance plans, including Roadside Assist and Roadside Elite. Upon enrollment, benefits include 24/7 towing, jump-starts, tire changes, lockout assistance, fuel delivery and more. Enter or mention your AARP membership number when enrolling online or by phone.

Vehicle maintenance can be a hassle, but with Valvoline Instant Oil ChangeSM, members can save 15% off a drive-thru, stay-in-your-car oil change — including a free 18-point safety check.* The discount also applies toward preventive maintenance services — including radiator, transmission and differential services, air filter or wiper blade replacements. You can access these savings by entering or mentioning your AARP membership.
*Applies only to accessible/applicable items. At participating locations.

Maximize Your Savings While Staying Connected

Retirement should mean prioritizing what’s important — connecting with loved ones, wherever they may be. Whether it’s the kids heading off to college or grandchildren living elsewhere in the country, our online connections keep us in touch with the most important people in our lives and are absolutely essential.

AARP members always have the opportunity to save 5% on monthly service and usage charges and 30% on accessories with Consumer Cellular. Talk, text and data plans start at $20 per month per line, require no contract, and include free activation and an extended risk-free guarantee. In addition, AARP members can get unlimited talk, text and data for two lines for just $55/month. Make sure you enter or mention your AARP membership number or card at Target stores to access these savings and enjoy your conversations stress free.

When it comes to approaching retirement, individuals 50+ years old should be seeking out ways to ensure their transition into a fixed-income gives them stability and flexibility. Saving on your health and wellness products, gas and auto services, and technology and wireless plans are all great ways to ensure you make your fixed income work for you each month, and allow you settle into this exciting new stage of life. By using these saving tips and taking advantage of these member benefits, a fulfilling retirement is in reach. Check out aarp.org/save to view more benefits and savings available to AARP members.

Neither AARP nor its affiliates is the insurer. AARP and its affiliates are not insurance producers, agents or brokers, and do not sell or service insurance products. AARP member benefits are provided by third parties, not by AARP or its affiliates. Providers pay a royalty fee to AARP for the use of its intellectual property. These fees are used for the general purposes of AARP. Some provider offers are subject to change and may have restrictions. Please contact the provider directly for details.