5. Discounted Restaurant and Entertainment Gift Cards

Living on a fixed income does not mean you have to abandon dining out, going to the movies, or treating your family to experiences. One of the best-kept secrets of the warehouse club is the gift card aisle.

Costco regularly sells gift card bundles for national restaurant chains, local eateries, movie theaters, and even airlines at a 15% to 25% discount.

For example, you might pay $75 for four $25 gift cards to a popular steakhouse, instantly netting you $25 in free dining. Retirees leverage these discounted cards to stretch their entertainment budgets.

If you know you plan to take your family out for a holiday dinner or fly to visit relatives, purchasing the currency for those events ahead of time at a discount is a brilliant cash management strategy.