Cutting Expenses in Retirement: 6 Home Items to Stop Buying

There’s no need to buy a year’s supply of bottled water. As previously stated, tap water is perfectly safe to drink.

Retirement is a time to enjoy the fruits of your labor, but it’s also a time when many people look for ways to stretch their savings. One effective way to manage your budget in retirement is by cutting unnecessary expenses, especially around the house. Here are six home items you can consider stopping buying to save money in retirement:

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Bottled Water

According to the Water Project, “Over the last decade it has become a staple with the average American spending over $100 per year/per person.” Investing in a good water filter can eliminate the need for buying bottled water. Not only is this more cost-effective in the long run, but it’s also better for the environment. The cost of bottled water can add up quickly, especially if you consume it regularly.

Disposable Cleaning Products

Instead of buying disposable cleaning wipes and mop pads, switch to reusable microfiber cloths and mop heads. These can be washed and reused multiple times, saving you money and reducing waste. Statista revealed that, “In 2022, the country’s average expenditure on cleansing and toilet tissue, paper towels, and napkins amounted to 114.41 U.S. dollars per year.” It’s important to stay clean, but opting for the reusable washcloth from time to time will save you more than you think for a more frugal retirement.

Pre-Packaged Foods

Pre-packaged and processed foods often come with a premium price tag. Opt for buying whole ingredients and cooking meals from scratch. This not only helps you save money but also allows you to control the nutritional content of your meals.

Expensive Cable Packages

With the rise of streaming services, consider cutting your cable subscription and opting for more affordable streaming options. Many streaming services offer a wide variety of entertainment choices at a fraction of the cost of traditional cable packages.

Single-Use Batteries

Investing in rechargeable batteries can save you money in the long run. While the initial cost might be higher, rechargeable batteries can be used hundreds of times, making them more cost-effective and environmentally friendly. A pack of rechargeable batteries will only run you about $12 on Amazon, a solid price that will save you in the long run.

Extended Warranties

Often, extended warranties for appliances and electronics are not worth the extra cost. Instead, set aside a small emergency fund for repairs or replacements. The money you save on extended warranties can be used to cover any unexpected expenses.

Conclusion

Cutting expenses in retirement doesn’t have to mean sacrificing comfort or convenience. By making mindful choices and eliminating unnecessary purchases, you can stretch your retirement savings further. Focus on investing in quality, reusable items, and opt for more affordable alternatives when possible. Every little saving adds up, helping you enjoy a more financially secure and fulfilling retirement.

Editor's note: This article was produced via automated technology and then fine-tuned and verified for accuracy by a member of GOBankingRates' editorial team.

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This article originally appeared on GOBankingRates.com: Cutting Expenses in Retirement: 6 Home Items to Stop Buying