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Commitment to Our Readers<\/p>\n
GOBankingRates’ editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines<\/a> and our products and services review methodology<\/a>.<\/p>\n 20 Years Trusted by Many older Americans live on a tight income. According to the Federal Reserve<\/a>, the average annual income for those ages 65 to 74 is $32,898 (before taxes).<\/p>\n If that sounds all too familiar, know that awareness is key to living comfortably and staying on top of your expenses. You might not realize it, but you could be spending more money during the winter months than you think. <\/p>\n Here are six things retirees<\/a> often spend more money on in winter that they don\u2019t necessarily expect<\/a>.<\/p>\n 1. Electricity (but Not Just the Heater)<\/p>\n The average monthly electricity bill<\/a> is about $140, as per Angi<\/a>. But costs can fluctuate wildly throughout the year, especially in winter.<\/p>\n It\u2019s not just running the heater adding to your total costs, though that doesn\u2019t help. If you have a tendency to take long hot showers when it\u2019s cold, that can also add up. So can keeping all the lights on throughout the day or turning them on earlier to compensate for less natural lighting.<\/p>\n<\/p>\n 2. Home Maintenance<\/p>\n A common rule of thumb is to set aside 1% to 4% of your home\u2019s value each year for maintenance<\/a> and repair costs. You might not use it, but it doesn\u2019t hurt to have it.<\/p>\n In the winter, you might find yourself spending more on replacing or fixing little things you didn\u2019t think about. Freezing (or below-freezing) temps can lead to seemingly small problems like leaks or issues in the heating system. Left unchecked, these can become costly repairs.<\/p>\n Even a drafty window or door can cause your HVAC to run overtime (and increase your heating bill).<\/p>\n 3. Groceries<\/p>\n Food costs are nothing to scoff at. The U.S. Department of Agriculture<\/a> estimates the average older American living on a thrifty food plan spent the following amount on food at home in November 2025:<\/p>\n Female ages 51 to 70: $228.80 Even if your grocery budget<\/a> is strict, you might be spending more on comfort foods during the winter. This is especially likely if you also celebrate the winter holidays and tend to splurge on things like turkey, ham and desserts.<\/p>\n 4. Fuel<\/p>\n For retirees who might be trying to keep heating costs down, there\u2019s a higher chance they\u2019re spending more time away from their home than in it. After all, if you\u2019re not home, why run the heater?<\/p>\n But this can lead to more trips that require a car and, by proxy, gasoline. As of Jan. 13, the average national cost of regular fuel is $2.82 per gallon. That\u2019s lower than it\u2019s been in recent months, but it can still add up if you\u2019re driving more often during the winter. And if you\u2019re taking long-distance trips to visit relatives, that\u2019s even more money spent that you might not have accounted for.<\/p>\n 5. Medical Costs<\/p>\n Healthcare costs aren\u2019t limited to the winter months, but the cold weather can mean more health issues. This includes respiratory viruses like the flu and whooping cough.<\/p>\n Retirees who have comprehensive health insurance might not have to worry too much about out-of-pocket costs here (beyond the usual premiums and copays). But over-the-counter medicine can add up and fast.<\/p>\n A two-pack of Equate daytime and nighttime cold and flu medicine costs about $10 at Walmart<\/a>. But you might also need lozenges or other relief. And then there are bandages, gauze, ointments and the like. If you tend to stock up on medical supplies during the winter, that\u2019s a lot of potential expenses all at once.<\/p>\n 6. Winter Supplies<\/p>\n You probably expect to spend a little more on winter apparel and accessories. You might have even budgeted for a new pair of boots.<\/p>\n But what retirees may forget about is the lesser-known winter supplies \u2014 like deicers and sidewalk salts. Those who live in particularly snowy areas may also need to decide between doing the manual labor (which may or may not be feasible) or paying someone to shovel their drive.<\/p>\n<\/p>\n![\"\"](\"https:\/\/cdn.gobankingrates.com\/wp-content\/uploads\/2023\/11\/icon-20.svg?webp=1&quality=75\"){kind=icon}
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Millions of Readers<\/p>\n
\nMale ages 51 to 70: $272.30
\nFemale 71-plus: $251.10
\nMale 71-plus: $260.00.<\/p>\n