Clip and save for cost-cutting ideas on shows, restaurants, hotels, and airfare.
By Christine Benz | 04-21-11 | 06:00 AM | Email Article

Now for the fun stuff.

Previous columns have highlighted how retirees can trim their housing, day-to-day, and financial-services expenses. We've provided tips for saving on everything from groceries to insurance to cell-phone bills, and numerous members of the community have contributed worthwhile cost-savings ideas of their own.

Christine Benz is Morningstar's director of personal finance and author of 30-Minute Money Solutions: A Step-by-Step Guide to Managing Your Finances and the Morningstar Guide to Mutual Funds: 5-Star Strategies for Success. Follow Christine on Twitter: @christine_benz.

Finding ways to be thrifty can be an important lever for retirees concerned about maintaining their desired standard of living in retirement, particularly given that inflation in the future is apt to be higher than it has been during the past decade.

But retirement is about a lot more than just getting by. It's about enjoying the fruits of your many years of hard work--spending quality time with family and friends, seeing sights you didn't have time to discover while you were still working, and simply doing what you love.

Happily, saving on travel and leisure costs during retirement doesn't mean that you have to queue up for sunset specials at local restaurants or think of bingo in the church basement as a big night on the town (unless you want to, of course). Thanks in large part to the Internet, consumers of all ages have more ways to obtain discounts on dining, travel, and entertainment than ever before. And retirees have an important advantage over people who are still working, in that they might have an extra measure of flexibility that enables them to pounce on last-minute deals or take advantage of off-peak pricing.

Here are 50 ideas for saving on travel and leisure costs during retirement. Use the Comments field below to contribute your own ideas.

1. Investigate season-ticket packages for favorite activities such as theater and opera. You'll usually receive a healthy discount versus paying for tickets on a one-off basis. And even if you're not interested in specific shows and concerts included in your package, the extras can make nice gifts.

2. Troll around for free or low-cost entertainment concerts, plays, and films at your local public library or community college.

3. Opt for small-venue musical and theater events rather than shelling out the big bucks for blockbuster events. You'll reduce your costs and be able to get a lot closer to the stage.

4. Stop buying books, music, and DVDs, and go to the library. Even if the materials you want aren't on the shelf, your library may be able to order them from your community's library network.

5. Try RedBox for DVD rentals ($1 per rental) or opt for  Netflix's  streaming service ($7.99 per month for unlimited streaming).

6. Investigate whether your favorite museums offer senior discounts, or take advantage of free admission days. Volunteering as a docent will usually entitle you to free admission, too.

7. Check whether your local movie theater offers senior discounts or budget-priced tickets for early birds.

8. Hankering to see a certain play or live show? Some theaters offer discounts on tickets purchased the day of the event. also offers substantially discounted tickets to plays, music, and comedy shows as well as sporting events, at small to large venues throughout the country.

9. Stop buying individual magazines as onesies and subscribe instead.

10. Cancel satellite radio and try a free music site like

11. Visit art openings at local galleries, which offer the opportunity to view beautiful art and mingle with interesting folks, and they might feature free wine and nibbles, as well.

12. Take advantage of the fact that you don't need to play on weekends or early in the morning. Look for reduced tee times for golf and off-price hours for tennis.

13. Go for a walk or exercise at your local recreation center versus working out at a pricey health club.

14. Check out sporting events at your local high school or college.

15. If you want to watch a pay-per-view sporting event, visit a local tavern or restaurant that will be broadcasting the event but charge you a fraction of the cost.

16. Rather than forking over the big bucks for tickets for a pricey sporting event (and paying up for food and parking, too), host a casual viewing party at your home instead.

17. Plan to eat before you attend a sporting event, bring your own snacks, or tailgate with family and friends beforehand. You may still decide to spring for a hot dog or a beer, but you won't fill up on stadium food, which is usually unhealthy and inevitably overpriced.

18. Rather than buying clothes and souvenirs for grandkids at the stadium (and paying the full markup), extend the fun of the big game over a few weeks by allowing each child to pick out a special item with the team logo at a local sporting-goods store or a low-price retailer such as  Target  the week before the event.

Entertaining/Dining Out
19. Sign up for daily deals on restaurants and shows via sites such as and, or follow your favorite venues on social-networking sites such as twitter to be alerted to special deals.

20. Entertain at home rather than going out. You can treat your family and friends to a great meal for substantially less than one couple would pay to dine out.

21. Plan parties where everyone brings a favorite dish to share.

22. When entertaining, remember that casual meals can be less expensive--and more relaxed--than more formal affairs. Think pizzas on the grill with inexpensive Chianti in tumblers rather than strip steaks and a big-name Napa Cabernet.

23. Start a dining-out club with friends and neighbors with a focus on inexpensive ethnic food.

24. Host a wine-tasting where everyone brings a favorite bottle of a certain type.

25. Screen on top-rated, budget-priced restaurants using websites like and

26. In the mood to splurge on a pricey spot with a well-regarded chef? Try lunch rather than dinner.

27. Ordering appetizers and dessert is one of the easiest ways to jack up your restaurant bill. Skip one or the other and host friends and family in your home before or after you go out.

Securities mentioned in this article



Morningstar Rating Morningstar Analyst Report
With Morningstar Analyst reports you can get our expert Buy/Sell opinions on over 3,900 Stock and Funds
Christine Benz does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.
Sponsored Links
Sponsor Center
Content Partners