Save money on utility and phone bills

31. Turn down the heat: This tip is a no-brainer, but it's one of the easiest ways to trim your bill. All it takes is dropping the heat a degree or two.

An Energy Star programmable thermostat can save more than twice its price within a year and will adjust the temperature automatically for you when you're away or asleep.

32. Audit your cell phone: Most people don't use all their cell phone plan minutes each month, according to an informal Consumer Reports poll. Go to BillShrink, enter some data from your bills, and the site will direct you to plans that may be a better fit -- and cost less.

If you're an infrequent cell phone user, you might save money with a prepaid plan. Compare rates at MyRatePlan.com.

33. Lower your water temperature: Set your water heater at 120 degrees. If your heater does not have a temperature gauge, dial down until the water feels hot, not scalding.

(Before going too low, make sure your dishwasher has a booster heater, which gets the temperature back to 140 degrees, necessary for proper cleaning.)

34. Stop watering the sidewalk: Watering that strip of land between your sidewalk and the street is often a big waste of money. Because the so-called parking strip is so narrow, your sprinkler probably showers most of the water on concrete.

Landscaping this area with a rock garden or drought-resistant plants could save you 90,000 gallons of water and $135 on water bills annually, according to estimates from the Utah Rivers Council.

35. Unplug energy suckers: Appliances with a clock or that operate by remote are still sucking energy when they're turned off. Use a power strip, and flip the switch when you're done.

Or buy a device to do it for you, such as the Smart Power Strip ($31 to $44 at SmartHomeUSA.com), which will stop drawing electricity when the gadgets are turned off. The device will pay for itself within a few months.

Save money in retirement

36. Invest wisely: Resist the urge to move all your nest egg into cash and bonds. Yes, you need to preserve your money. But you should expect to draw on your accounts for as long as 30 years, so you'll need some growth, too. That means new retirees should place at least 50% of their investments in stocks.

Consider taking a portion of what you have in bonds or cash to buy an income annuity that pays a monthly benefit for the rest of your life. The older you are at the time of purchase, the larger the payout.

37. Take advantage of your age: Your senior status can save you money at movie theaters, restaurants, hotels, car rental agencies, retailers and auto repair shops. Sometimes the discount is only on certain days of the week or on certain items, so it pays to know the rules.

And if a discount isn't advertised, ask if they offer one. Many times they will.

38. Do a trial run: It can be tough to know how much money you need to live on in retirement. You don't want to get caught spending more than you can afford. So try living on your projected budget for six months to one year beforehand. Then, once you actually quit your job, monitor your spending to make sure you're on track.

And before you plunk down your savings on a life-altering decision -- such as moving to Florida or buying an RV -- try it before you buy it. You don't want to spend all that money only to find the reality didn't match your expectations.

39. Get out of the house: For free or cheap entertainment, meals and social activities, look to your local senior center. Many senior centers offer group classes and trips, or they may negotiate cheaper rates for tickets to performances in your area.

40. Re-evaluate your insurance: When you're retired, your insurance needs change. For instance, you aren't commuting anymore, so ask your auto insurer to recalculate your rate.

Also, you may be able to drop or reduce your disability and life insurance coverage. These plans are intended to replace your income to support dependents after your death. But you're not drawing a salary any longer -- and probably don't have dependents, either.

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