Over 50? What’s one small money saving habit that’s made a real difference?

De lurk. First time post :) I’m turning 50
this year and focused on making my money go further. I’d love to hear from others in the same boat. 

What’s one money saving habit you’ve picked up after 50 that’s made a difference?
«134

Comments

  • gambleruk
    gambleruk Posts: 155 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    I think it is a lot easier to manage your money once you are retired, The one thing I always do now is if I am after something I stick it in my amazon basket or ebay watchlist etc and leave it there for at least 24 hours usually longer until I am certain we need it, the amount of stuff I have deleted instead of buying over the past few years must have saved us a fortune.
  • Baldeagle095
    Baldeagle095 Posts: 55 Forumite
    10 Posts Name Dropper Photogenic First Anniversary
    edited 13 April at 10:56AM
    It is a hard habit to break but I like recording all transactions on MoneyPoint and on spreadsheet.
    I know exactly when any direct debits, standing orders and regular savers leave my current account. In addition any income from pensions/salaries etc automatically get transferred into an Easy Access ISA account which is essentially a holding account before transfer out to my current a/c for DD's, SO's & Reg Savers.
    Currently I earn 5.64% interest across my current a/cs, regular savers,fixed term deposits and ISA's
    This is likely to decrease towards end of year but at least I am in control of my own destiny.
    Only takes 5 minutes a day.

  • jennystarpepper
    jennystarpepper Posts: 766 Forumite
    Fourth Anniversary 500 Posts Name Dropper
    Buy in bulk when supermarkets have offers and freeze. Sainsburys have big gammon joints on offer and beef, meat gets sliced (with an electric slicer) and frozen for lunches.
    Have I 'tin' which I put unexpected money in, sold a few Ebay items and on collection gave the buyer a discount for cash when buying extra of what I'm selling. 
    Amex for Airmiles, not everyone's cup of tea, but free lounge (if business) so no food or drink to pay, and a companion pass for a long haul.
    Buy good quality clothing / shoes and Nike trainers on sale, £8 for a £35 M&S robe and £65.00 for a £129.99 pair of Nike air, clothes are line dried or buy the burner, tumble dryer used a couple of times a year.
    Mr Pepper is also learning, supermarket special, 25p birthday card for a relative who is not very nice (I'm being very diplomatic when I say that), early retirement is a motivator for him.
    Throw all spare money / round down bank balance to throw at last of mortgage, hate paying interest, GRRR.
    Don't buy take away food, annoys me to spend £20.00 for late / cold / bad food.
    One car house, again buy a quality brand and have a friendly garage who I tip for Christmas, the have saved me £££ over the years, have changed me bulbs when I've called in and not charged me. 22-year-old car is due to retire this year
    MFW - 01.10.21 £63761   01.10.22 £50962   01.10.23 £39979   01.10.24 £27815. 01.01.25. £17538
    01.03.25 £14794
    01.04.25 £12888
    01.05.25. £11805
    12.05.25  £9997

Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.1K Banking & Borrowing
  • 252.8K Reduce Debt & Boost Income
  • 453.1K Spending & Discounts
  • 243.1K Work, Benefits & Business
  • 597.4K Mortgages, Homes & Bills
  • 176.5K Life & Family
  • 256K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.