How does this savvy pensioner save a fortune in the face of soaring living costs? Uncover their secrets to save on groceries, transport, and more!
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The rising living costs can be particularly challenging for those living on fixed incomes, such as pensioners.
With limited resources, it's important to be smart with spending and find ways to save money without compromising quality of life.
Pensioners across Australia are becoming increasingly savvy savers, using creative ways to stretch their budgets and make ends meet.
For some, this involves carefully choosing the cheapest produce at the supermarket and scaling back on non-essential purchases. But, when it comes to being a money-savvy pensioner, Graham James, 79, takes it to the next level.
A retired wheat farmer originally from the town of Dumbleyung in Western Australia but now living in Albany, Mr James said that his $773 fortnightly pension was – and still isn’t – enough to cover the high cost of living in the area.
To stretch his funds further, Mr James and his wife opt for budget-friendly staples like mince and chicken for their meals and attempt to grow their vegetables and herbs at home.
He shared: ‘They [groceries] have all gone up a reasonable amount, not as much as you'd think when you consider what the farmers get.’
‘But we generally use mince quite a lot, that keeps it down and chicken — that's our main staple.’
‘On vegetables, we usually try to have a vegetable garden growing … But unfortunately this year we're sharing them with the insects.’
But shopping for essentials isn't the only thing Mr James has to worry about when it comes to stretching his budget. Transportation and socialising can also be very expensive, as we know.
But luckily, Mr James has come up with some creative and sensible solutions. To save on transportation costs, he and other pensioners turn to public transport instead of driving to move around. The 79-year-old said that making the switch saved him money on fuel and car registration.
However, he acknowledged that while this is a good strategy, it only works where you can access such options, which isn't the case in all regional and rural areas.
Furthermore, Mr James has also dipped into his superannuation to buy solar panels which have helped greatly reduce his home power bill.
He may have been looking for paid work if it weren't for his disability. Still, luckily he found another way to socialise and put his skills to good use — he volunteers for the Family History group in Albany and helps people look for their long-lost relatives from generations past.
Mr James advised other retirees to volunteer in the community to make the most of their time, as well as save a bit of money while socialising and connecting with people who share similar interests or hobbies.
Demand for social services on the rise
The non-profit organisation Chorus, which runs the Meals on Wheels service, has reported a significant increase in demand for pre-cooked meals.
Carly Russell, Chorus's customer advocate, revealed that the demand for the service has spiked by almost a third, reaching 200 meals a week over the past six months.
She remarked: ‘Some of them have [said] … it's almost cheaper to have [Meals on Wheels] … than to go shopping for myself and buy groceries.’
According to Meals on Wheels Chef Carol Standish, the lively ambience of a full house is an essential element in enabling seniors to remain self-sufficient for an extended period.
‘A lot of them come here and then they go to bingo, which is held here as well so they come and have their meal, and if they're a bit slow we'll dish it up and take it in with them,’ she said.
The centre also offers affordable dining options and other essential services, including an in-house hairdresser, to help seniors with their daily needs.
Russell urged those in need to seek help and not to struggle in silence. Many non-profit organisations can adjust their services to make them more affordable for those in dire situations.
Between Graham’s ingenuity and the availability of social services, there are strategies out there to help make life as a pensioner a bit more bearable in the face of soaring living costs.
So, don’t be afraid to seek help and explore non-profit organisations that can adjust their services to fit your needs. Remember, assistance is available.
Members, have you ever had to devise creative approaches to budgeting and stretching your finances? Share your tips and stories in the comments below!
With limited resources, it's important to be smart with spending and find ways to save money without compromising quality of life.
Pensioners across Australia are becoming increasingly savvy savers, using creative ways to stretch their budgets and make ends meet.
For some, this involves carefully choosing the cheapest produce at the supermarket and scaling back on non-essential purchases. But, when it comes to being a money-savvy pensioner, Graham James, 79, takes it to the next level.
A retired wheat farmer originally from the town of Dumbleyung in Western Australia but now living in Albany, Mr James said that his $773 fortnightly pension was – and still isn’t – enough to cover the high cost of living in the area.
People living on fixed incomes are hit the hardest by skyrocketing living costs. Credit: Pexels/Dany Kurniawan.
To stretch his funds further, Mr James and his wife opt for budget-friendly staples like mince and chicken for their meals and attempt to grow their vegetables and herbs at home.
He shared: ‘They [groceries] have all gone up a reasonable amount, not as much as you'd think when you consider what the farmers get.’
‘But we generally use mince quite a lot, that keeps it down and chicken — that's our main staple.’
‘On vegetables, we usually try to have a vegetable garden growing … But unfortunately this year we're sharing them with the insects.’
But shopping for essentials isn't the only thing Mr James has to worry about when it comes to stretching his budget. Transportation and socialising can also be very expensive, as we know.
But luckily, Mr James has come up with some creative and sensible solutions. To save on transportation costs, he and other pensioners turn to public transport instead of driving to move around. The 79-year-old said that making the switch saved him money on fuel and car registration.
However, he acknowledged that while this is a good strategy, it only works where you can access such options, which isn't the case in all regional and rural areas.
Furthermore, Mr James has also dipped into his superannuation to buy solar panels which have helped greatly reduce his home power bill.
He may have been looking for paid work if it weren't for his disability. Still, luckily he found another way to socialise and put his skills to good use — he volunteers for the Family History group in Albany and helps people look for their long-lost relatives from generations past.
Mr James advised other retirees to volunteer in the community to make the most of their time, as well as save a bit of money while socialising and connecting with people who share similar interests or hobbies.
A summary of Mr James’ tips on stretching your budget as a pensioner. Credit: Seniors Discount Club.
Demand for social services on the rise
The non-profit organisation Chorus, which runs the Meals on Wheels service, has reported a significant increase in demand for pre-cooked meals.
Carly Russell, Chorus's customer advocate, revealed that the demand for the service has spiked by almost a third, reaching 200 meals a week over the past six months.
She remarked: ‘Some of them have [said] … it's almost cheaper to have [Meals on Wheels] … than to go shopping for myself and buy groceries.’
According to Meals on Wheels Chef Carol Standish, the lively ambience of a full house is an essential element in enabling seniors to remain self-sufficient for an extended period.
‘A lot of them come here and then they go to bingo, which is held here as well so they come and have their meal, and if they're a bit slow we'll dish it up and take it in with them,’ she said.
The centre also offers affordable dining options and other essential services, including an in-house hairdresser, to help seniors with their daily needs.
Russell urged those in need to seek help and not to struggle in silence. Many non-profit organisations can adjust their services to make them more affordable for those in dire situations.
Between Graham’s ingenuity and the availability of social services, there are strategies out there to help make life as a pensioner a bit more bearable in the face of soaring living costs.
So, don’t be afraid to seek help and explore non-profit organisations that can adjust their services to fit your needs. Remember, assistance is available.
Members, have you ever had to devise creative approaches to budgeting and stretching your finances? Share your tips and stories in the comments below!
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