Stashing away $1,000 is a big win — especially if you’re on Social Security or a tight budget. Whether you need help cutting bills or want to earn extra cash, these tips are for you.
8 Ways Seniors Are Finding Extra Money as Living Costs Keep Rising
August 10, 2026 - Genie Editor
1. See If You’re Overpaying for Auto Insurance
Auto insurance is one of those monthly expenses that can quietly increase over time. Rates can vary based on your location, vehicles, driving history, coverage selections and other factors—which is why it may be worth comparing your current rate.
Lion Coverage helps currently insured drivers request personalized auto insurance quote options online. Some qualifying drivers may find rates starting as low as $59 per month.
Checking takes only a few minutes and could help you determine whether your current auto insurance rate still makes sense.
2. Senior Homeowners Are Using Home Warranties To Avoid Big Repair Bills
One major home repair can take a serious bite out of a fixed retirement budget. A broken A/C, water heater, plumbing system, or major appliance can quickly leave you facing a bill you didn’t plan for.
Choice Home Warranty offers plans that may help cover eligible repairs or replacements when covered home systems and appliances break down from normal wear and tear.
Instead of letting one unexpected repair drain your savings, see what coverage may be available for your home before something breaks.
3. See if your credit card debt is eligible for this debt relief program
If you have a lot of credit card debt, getting out of it can feel stressful — and sometimes nearly impossible. Here’s the problem: the longer you put off tackling it, the harder it can become to get back on track. High balances, interest charges, and multiple monthly payments can keep weighing on your finances for years. But what if there was a way to finally start resolving that debt?
National Debt Relief may be able to help. If you have $20,000 or more in unsecured debt from credit cards, personal loans, medical bills, or collections, their debt specialists can review your situation and work with creditors to try to resolve eligible debts for less than you owe.
Best of all, there are no upfront fees. National Debt Relief only collects fees after successfully resolving enrolled debt, and qualified clients may be able to complete their program in approximately 24–48 months.
Getting started is simple. Answer a few questions about your debt to see if you may qualify. The initial consultation is free and only takes a few minutes.
4. Don’t Let the Next Market Shock Threaten Your Retirement
Your retirement could be more exposed than you realize. Inflation, rising national debt and sudden market swings can quickly threaten savings that took decades to build.
If your portfolio depends heavily on stocks, bonds and the U.S. dollar, waiting for the next market shock may be waiting too long. Priority Gold helps Americans explore physical gold and silver as a way to diversify eligible retirement savings beyond traditional paper assets.
Request your FREE Guide today and discover how gold and silver could fit into your retirement strategy.
Don’t wait for another market downturn to start protecting what you’ve worked so hard to build.
5. Stop Overpaying for Home Insurance
When it comes to saving money, most people rush to change their car insurance. But here’s the secret:
Switching home insurance often leads to even bigger savings.
Some homeowners cut $500–$1,000+ off their yearly premiums—just by comparing providers. Rates can vary drastically between insurers for the same exact coverage.
Use this comparison tool to check your rate now. It’s free, takes minutes, and could put real money back in your pocket.
6. Homeowners 62+ May Be Able to Access the Equity in Their Home
If you’re 62 or older and own your home, a reverse mortgage may help you access part of the equity you’ve built without selling your home or making required monthly principal-and-interest payments.
A FREE Reverse Mortgage Guide from Mutual of Omaha explains how the process works, potential costs and whether this option could fit your retirement needs.
You may be eligible if:
✔️ You are 62 or older.
✔️ You own your home or have substantial equity.
✔️ The home is your primary residence.
Qualified homeowners may use the funds to help manage monthly bills, home repairs, medical expenses or other unexpected costs.
Get My FREE Reverse Mortgage Guide »
A reverse mortgage is a loan. Borrowers must continue paying property taxes, homeowners insurance and applicable property charges, maintain the home and meet occupancy requirements. Interest and fees increase the loan balance over time. Eligibility, terms and availability vary.
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7. Use Home Equity Before Taking On Higher-Interest Debt
Compare top lenders and find home equity loan rates — all in one place. Whether you’re renovating, consolidating debt, or funding a major expense, Bankrate makes it easy to borrow smarter.
If you own a home and need access to funds, comparing home equity options may help you avoid relying on higher-interest credit cards or personal loans.
8. Stop Earning 0.01% — This Account Pays Up to 3.75% APY
If your savings account isn’t earning much, this option from Barclays may be worth a closer look. Their Tiered Savings account currently offers up to 3.65% APY, with no minimum balance to open and no monthly maintenance fees.
Accounts are FDIC-insured through Barclays Bank Delaware, and everything can be managed online. Rates are variable and may change at any time. For savers looking to earn more without switching to a complicated account, this is one option many people are starting to compare.
APY is variable and subject to change. Terms and conditions apply.
9. See if your credit card debt is eligible for this debt relief program
Carrying credit card balances can quickly become overwhelming, especially as interest continues to add up each month. Many people put off dealing with debt because they’re unsure where to start — but waiting often makes the situation harder to manage.
If you have $15,000 or more in unsecured debt, including credit cards, personal loans, or medical bills, a debt relief program like Nerdwallet may help you explore options designed to simplify repayment through a single monthly plan.
There are no upfront fees, and checking eligibility is fast and straightforward. Answer a few quick questions to see if you may qualify.
10. Timeshare Owners Paying $1,480+ a Year Are Checking Their Legal Exit Options
In 2024, the average maintenance fee hit $1,480, up 17.5% in a single year, more than 6 times the rate of inflation. That's more than $100 per month for something you may use once a year, and that's before special assessments, surprise charges for repairs or shortfalls that can add hundreds, and sometimes thousands of dollars with little warning.
What's worse, when you're gone those obligations don't disappear. They can pass directly to heirs who never signed up for them. It's no surprise 85% of timeshare owners regret their purchase.
If you're in a timeshare you want out of, Stonegate , the #1 Consumer Contract Exit Company, may be able to help with attorney-powered timeshare cancellation.
Whether you signed your timeshare contract in the 1980's or the 2020's, Stonegate's proven process has helped families across the country break free from their timeshare financial burden, finally achieving financial freedom through its proven and professional legal experts.
Want to find out if your timeshare qualifies for a permanent legal exit?
11. One Way Some Retirees Are Responding to Inflation
Rising costs are pushing many Americans to rethink their retirement strategy, and while traditional accounts often rely on stocks and dollar-based assets, some are exploring ways to diversify.
Gold has historically been viewed by some investors as a potential hedge during inflation, market uncertainty, and currency weakness. American Hartford Gold offers resources for those looking to better understand how physical precious metals may fit into a broader retirement strategy.
Getting started is simpler than you might think — here’s how:
- Step 1: Request a free Gold IRA guide below
- Step 2: Connect with a specialist
- Step 3: Diversify your portfolio
It only takes a few minutes to review your options and see what may be available for your situation. (Minimum $15,000 investment required.)
12. Turn Your Retirement Savings Into Predictable Monthly Income
Looking for more dependable income in retirement?
Leverage Planning offers a free annuity guide that shows how some retirees use annuities to create guaranteed income and reduce exposure to market swings.
*Annuity options vary based on individual financial situations. Review all terms before making decisions.
