With retirement on the horizon, turning 60 is the perfect time to start making some small financial changes that could help you save money and gradually increase your pension pot. As well as claiming a number of over 60 benefits, there are several other ways for seniors to save some extra cash – below, we provide some simple saving tips for over 60s:
Purchase Memberships for Cheaper Days Out
While having a day out is lovely, it can often be an expensive affair. Consequently, it is always worth checking for senior membership deals, which, although require an upfront payment, will ultimately save you money in the long term.
Several public organisations offer discounted senior membership; for example, single over 60s can save £8.50 on an English Heritage membership that permits them free access to over 400 historic locations around the UK. Similarly, the National Trust also offer discounted membership to those over 60 who have already been members for at least five years.
Save on Coach Fares
Upon reaching state pension age, every pensioner automatically becomes eligible for a free bus pass. However, for seniors wanting to take longer journeys across the UK via coach, National Express offer a Senior Coach Card. For a one-off payment of £10, over 60s travellers can receive a Senior Coach Card that enables them to save a third on any standard coach ticket. Additionally, there is no peak time restrictions on the card, meaning whatever time you travel, you can always save on coach fares!
Take Advantage of Retail Offers
Many retail outlets offer over 60s discounts which can help you save money on the items you need the most. For example, as well as a free eye test, over 60s customers at Specsavers can also receive 25% off frames and lenses when purchasing glasses from £69 or over.
Boots also offer seniors with a boots advantage card a variety of discounts. If you’re an advantage card holder, you can receive 25% off when purchasing your first pair of prescription glasses or sunglasses, with a further 50% any additional pairs of each. Additionally, you can also get 15% off when purchasing a boots hearing aid while receiving ten card points for every pound spent in store.
Finally, seniors can also receive a free coffee after doing their weekly shop, as well as a discount on newspapers at Waitrose by signing up for a myWaitrose card (providing they have met the required spend). The card is completely free to sign up for, so is worth doing for the free coffee alone!
Eat Out for Less with Savers Cards
For many seniors, eating out can be pricey, but it doesn’t always have to be. There are several savers cards that you can sign up to; one of these cards is the Diamond Club card, which is available to over 50s and can save you money in a variety of pubs and restaurants around the UK. Diamond Club card owners can also earn points when eating out, receiving a £5 voucher once they have earnt 500 points.
Seniors can also save when dining at Hungry Horse pubs, who offer a ‘Golden Years’ menu especially for customers over 60. You can enjoy two courses for just £4.50 or three courses for £6. However, it should be noted that portion sizes from the over 60s menu are slightly smaller than standard meals.
Although you don’t have to be over 60 to do this, signing up for a Taste Card can also help you save money when eating out. While anyone with a Taste Card can receive up to 50% off or take advantage of 2-4-1 deals at certain eateries, pensioners are perhaps in the best position to use these discounts as they often only apply during the day or at midweek sittings only.
If you’ve got any other tips for saving over 60, we’d love to hear from you! Reach out to us on our social media channels or find out more about senior finances by visiting our money page to receive expert advice.