Retirement and Budgeting - Expenses and reducing your overheads


Your Home

Rates If your income is low after retirement, you may be able to get help with your rates through housing benefit.

Water and Sewerage Charges There are no concessions on grounds of age or income.

Rent or Mortgage If you pay rent and your income is low after retirement, you may be able to get help with your rent through housing benefit. If you still have a mortgage, you can only look forward to the day when it is paid off. Alternatively you could think of selling your home and buying somewhere cheaper or taking out a home income plan .

Electricity, Gas, Heating Costs You will probably use more electricity and gas when you retire because you will spend more time at home. If, before your retirement, no one was in during the working day, you will find that you are now using heating for as much as fifty hours more per week, and your bills could go up by 69 % or more.

Insurance, Buildings and Contents Your insurance company may offer a discount on your contents insurance because you will be in the house more during the day.


Retirement Budgeting - read on

Retirement and Budgeting - Utilities Bills Telephone and Broadband


You will probably find your BT / Virgin etc telephone bill goes up, especially if you have been used to making personal calls from work. Try to avoid weekday daytime telephoning wherever possible, particularly during the peak period of 9am to pm.
Television / broadband / SKY: No rental companies seem to offer discounts to older people. But if you use a rented television and video more, you are getting better value for money! There are no general concessions on TV licences for older people.
Equipment � Service Contracts or HP If you get a lump.sum payment, it may be worthwhile paying off your HP commitments. But you may find that there are penalties in your contract for doing so.
Decoration and Repair Try not to economize too much. . . . ... see: Retirement and Budgeting - Utilities Bills Telephone and Broadband