Your golden years should be relaxing. Senior citizens have earned the right to enjoy retirement without being bogged down by stressful situations. The sad truth, however, is that many senior citizens find themselves struggling with money issues as they try to stretch their pension checks. Here are a few tips to living frugally in your twilight years.

1) Budget

            First, figure out your finances. You should know how much money you have and where any money is coming from. Consider investments, pensions, social security and any other incomes you may have. Next, plan out your expenditures, your regular necessary purchases. Be sure to include any rent, mortgages and bills. Simply put, if you know how much money you have and how much you need to spend, it will be easier to avoid an empty bank account.

2) Keep Your Saving Habits

            The easiest way to end up broke is to start spending lavishly and uncharacteristically as soon as you retire. Instead, continue (or begin!) to practice thrifty spending and saving. Make a habit of hunting for coupons, deals and sales. Be conscious of money-draining habits you have like leaving the lights on. Don’t get lazy! Making your own meals instead of going out to eat will still save you money, just like shorter showers will still lower your water bill. Continue frugal habits and you’ll be less stressed about money!

3) Find the Discounts

            One of the perks of making it to your elder years is the availability of senior discounts! Some of these discounts are obvious, and some you’ll have to discover. Don’t be afraid to ask! Some establishments that may offer senior discounts are restaurants, movie theaters, cell phone providers and even grocery and clothing stores! Many airlines and hotels also offer savings. Programs like the AARP may also be worth looking into, as they provide many great deals for elderly people. You might find that you’re eligible for lower credit card interest rates and insurance, too. The more you ask, the more discounts you’ll discover!

4) De-Clutter

            It seems that the more years someone collects, the more “stuff” they collect, too. If you notice that you have a lot of things that never get used, such as a desk or a set of dishes, consider selling them.  Using Craigslist.com, local classifieds, or hosting a garage sale to get rid of some of your rarely used treasures can be a great way to give you some more spending money.

Also, a great way to eliminate the expensive cost of birthday and holiday presents for friends and family is to give gifts with more sentimental value than monetary value. Jewelry that grandpa gave you on your first wedding anniversary or a trophy won at a swim meet when you were a kid could be great, and very meaningful, gifts. Of course, they’ll save you money, too!

You may be losing your hair or your hearing, but you don’t have to lose your money. Follow these tips and enjoy a long, frugal senior lifestyle.