Retirement is supposed to be a time of relaxation and enjoyment, but for many retirees living in Singapore, it can be a period of financial stress. With the rising cost of living, it is important for retirees to carefully plan and manage their finances in order to maintain a comfortable lifestyle. Here are two budgeting tips for retirees in Singapore to help stretch their retirement savings:

1. Create a realistic budget: The first step in budgeting for retirement is to create a detailed budget. This should include all sources of income, such as pension, social security, and investment returns, as well as any ongoing expenses such as housing, transportation, and healthcare. It is important to be realistic and take into account any potential unexpected expenses, such as emergencies or home repairs. By having a clear understanding of your income and expenses, you can better manage your spending and avoid overspending.

2. Take advantage of senior discounts: In Singapore, there are plenty of discounts and benefits available for seniors. From discounted public transportation fares to lower-priced movie tickets and even reduced healthcare costs, these discounts can significantly help retirees stretch their budget. Make sure to do your research and take advantage of these discounts whenever possible. Additionally, consider downsizing or moving to a more affordable area, as housing is often one of the biggest expenses for retirees.

By following these budgeting tips