10 Ways To Make the Most of Your Social Security Payment in September

As a retiree, your Social Security benefits are an essential part of your monthly budget. Apart from the yearly cost-of-living increase, your benefits don't change month to month, which can make more expensive months harder on your wallet. Additionally, the day you receive your benefits can vary from month to month, making budgeting even more challenging.

Fortunately, regardless of when you receive your benefits in the month, several smart and simple habits, as well as community resources, can help make each dollar go further, starting with the tips listed below.

Creating a monthly budget when your benefits arrive on a Wednesday in the middle of the month can make managing your finances challenging. Since your benefits check is the same amount every month, you can easily divide it into four parts — one for each week — and commit to spending no more of your check than that amount. This strategy can help you avoid running through your check too quickly.

Many community centers offer free meals, transportation, and entertainment specifically designed for seniors. Check to see if your city has a senior center or centers that host events or offer services. If you're not sure where to start looking, check AARP's directory.

Whether your city does or doesn't have a senior-specific community center, odds are good your local library offers at least a handful of services for people in your age group. Swing by your nearest branch or check the library's website for a calendar of events and lists of other services.

Hopefully, you're already taking advantage of the senior discounts offered by many stores and clinics for individuals aged 55 and above. But don't forget that you can combine senior discounts with coupons, loyalty programs, and sales to maximize your savings.

Instead of telling yourself you'll put some money into savings after paying the bills, consider setting up an automated savings transfer.

Your bank will automatically move money from your checking account to your savings account when your Social Security check hits the bank. You don't have to transfer huge amounts to make a difference: Putting as little as $5 per week into a high‑yield account can help you start building an emergency buffer.

Signing up for a Sam's Club or Costco membership might not make sense when you're a retiree living alone or with your spouse. However, coordinating with your neighbors to buy essentials like pantry staples or toiletries in bulk can make the cost of a membership worthwhile, while ensuring your bulk groceries don't expire before you can use them.

Many states and utility service providers offer discounts or deferred payment plans to low-income seniors. You might find resources listed at the bottom of your utility bill or your provider's website, but you can also search for "utility relief programs in my area" to see which programs your state offers.

The dates of some large bills are fixed, like your mortgage payment. However, other significant costs, such as filling up your car with gas or visiting your doctor, can be rescheduled to align with your Social Security pay schedule, thereby minimizing cash flow pressure.

Going on road trips, visiting family, and going to the movies are all enjoyable ways to spend your time, but they all cost money.

Even if you aren't a homebody, taking up some affordable at-home hobbies that don't require you to spend money can help you stay active and engaged in retirement. Activities such as gardening, writing, reading, and birdwatching are excellent ways to keep your mind active without breaking the bank.

If gas is eating up too much of your budget, consider spending more time walking. Not all cities are walkable enough to let you easily get to the store and back in one trip, but if yours is, walking instead of driving gets you out of the house and helps you stay physically fit.

And if walking isn't an option, consider community shuttle services specifically designed for seniors. Some cities offer free pickup and drop-off services for seniors. Alternatively, check out your public transit system and calculate the cost savings of choosing a bus pass over driving your car.

Whether you've already left the workforce or not, implementing the money-saving tips above will help you maximize your retirement savings. Wondering about other ways to save? Consider meeting with a retirement planner or financial expert who can review your budget and provide personalized tips to help you cut down on spending.