Retirement offers a chance to slow down and reassess. For many baby boomers who’ve stepped away from the workforce, that includes taking a closer look at monthly spending. Without a regular paycheck, every dollar counts a little more, and not all recurring expenses continue to serve a purpose in this new phase of life.
Increasingly, retirees are reevaluating old habits and finding that some familiar bills are now just a drain on the budget. Here are some common expenses that many boomers are canceling, because they’re simply no longer worth the money.
Cable TV Subscriptions
Estimated Savings: $200 per month
Cable TV was once considered essential, but for many retirees, it’s now an unnecessary cost. Between streaming platforms, smart TVs, and on-demand content, cable packages have become redundant, especially as prices continue to rise.
Switching to streaming services like YouTube TV, Netflix, or Hulu offers more flexibility, lower costs, and a better user experience. Many boomers are discovering they can access the same shows and local news for a fraction of the price.
Landline Phones
Estimated Savings: $42 per month
Landlines used to be the backbone of home communication, but in the age of mobile phones, they often go untouched. Landline numbers are more likely to receive robocalls and telemarketing than actual conversations.
Dropping the landline has become a common move among retirees, especially when all family and friends communicate via mobile. With reliable cell coverage, keeping a landline is increasingly seen as paying for a service that no longer adds value.
Magazine and Newspaper Subscriptions
Estimated Savings: $10 per month
Many boomers enjoy staying informed and entertained, but printed subscriptions can pile up unread. Whether it’s magazines or daily newspapers, more and more retirees are switching to free or low-cost digital alternatives.
Online access allows readers to stay updated in real time without physical clutter or wasted paper. Canceling unused print subscriptions helps cut costs and also makes for a cleaner, more minimalist home environment.
Gym Memberships
Estimated Savings: $100 per month
While fitness remains important in retirement, traditional gym memberships don’t always fit the lifestyle. The commute, crowded spaces, or lack of age-friendly equipment can discourage regular visits.
Instead, many retirees are embracing home-based fitness, like walking routines, virtual yoga, or free senior-focused workouts on YouTube. Staying active doesn’t have to mean paying monthly dues, and cutting this bill often leads to a more personalized wellness approach.
Premium Credit Card Fees
Estimated Savings: $94–$157 per year
Credit cards with high annual fees once made sense for frequent travelers or big spenders, offering airport lounges, hotel perks, and bonus rewards. In retirement, those features often go unused.
Switching to a no-annual-fee card or one with rewards tied to everyday essentials like groceries and gas is becoming more popular. The money saved on fees can easily outweigh the unused perks, especially for retirees focused on budgeting wisely.
Extended Warranties and Protection Plans
Estimated Savings: $125–$325 per month (varies by policy)
Extended warranties on electronics or vehicles are often sold as peace of mind, but many retirees realize they don’t always pay off. Claims can be difficult to file, and coverage can be limited or filled with exclusions.
Rather than pay monthly for what may never be needed, retirees opt to build personal savings buffers for repairs or replacements. It provides more control and avoids wasting money on services that offer little return.
Pet Insurance for Older Pets
Estimated Savings: $26–$227 per month
While pet insurance can be useful when animals are young and prone to unexpected emergencies, many retirees are finding it less cost-effective as their pets age. Premiums often increase significantly, while coverage becomes more restrictive, especially for pre-existing conditions.
According to a Consumer Reports investigation, most pet owners end up paying more in premiums than they get back in benefits, especially with older animals.
Paid Cloud Storage Subscriptions
Estimated Savings: $60 per month
Boomers with smartphones, tablets, and laptops may have signed up for paid cloud storage through Apple iCloud, Google One, or Dropbox. Over time, these small fees can go unnoticed—even when storage isn’t close to full.
With free tiers already offering 5GB to 15GB, and many photos/videos no longer being uploaded daily post-retirement, a downgrade or cancellation often makes sense. A ZDNet cloud usage report notes that most users underutilize their paid storage plans and forget they’re subscribed altogether.
Expensive Vehicles
Estimated Savings: $100–$500 per month (maintenance, insurance, gas)
For retirees who no longer commute, maintain multiple vehicles, or live in walkable communities, keeping a second car can be costly and unnecessary. Insurance, registration, maintenance, and fuel costs for an unused or rarely used vehicle can quietly eat into a fixed income.
The average cost of owning a vehicle in the U.S. is over $12,000 per year. Selling or donating a second car can offer both financial relief and a simpler lifestyle.
