Rebates, Tax Credits, and Discounts: How to Save on EVERYTHING

Inflation—according to the statistics—has declined to 3.67%, from the June 2022 high of 9.06%, but I’m not seeing much of a change in my wallet, are you?

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) has risen 3.7% in the past year. I don’t know—that doesn’t sound right when I look at just how grocery prices and utility costs have escalated in my neck of the woods in the past 12 months. For instance, my utilities are about 20% higher and my grocery costs seem to have grown even more. When I see two chicken breasts selling for $10.99, when I could have bought three of them for $3.99 a couple of years ago, the statistics don’t show the real picture to me.

Consequently, I’m always looking to reduce my expenses, and when I have an opportunity to cut costs—especially on something I planned to buy anyway, I’m first in line!

Fortunately, in this time of too-high inflation, I’ve found several rebates/discounts that can add up to a lot of dollars saved.

In fact, the last time I saw such good rebates on large purchases was more than 10 years ago, when I bought my first hybrid car (tax incentive of $2,700 and insulated my wooden floors ($500). Now, that’s what I call real savings!

And today, the vehicle rebates as well as some of the home energy credits are even better!

However, they are not always easy to understand, as my coworker’s brother can attest. He found the requirements for the tax incentives on his new Tesla pretty confusing (makes you wonder if the government does that on purpose, huh?).

Nevertheless, there are rebates and incentives to be had. And here I’m going to try to shed some light on them, so that you may find the process a bit easier.

In the Market for a Car—You Can’t Afford to Miss These Savings!

First, let’s talk about the federal tax credits for plug-in electric and fuel-cell electric vehicles purchased this year (and maybe after).

According to https://www.fueleconomy.gov/feg/taxcenter.shtml, “All-electric, plug-in hybrid, and fuel cell electric vehicles purchased new in 2023 or after may be eligible for a federal income tax credit of up to $7,500,” courtesy of the Clean Vehicle Credit in the Inflation Reduction Act.

The small print says, “The availability of the credit will depend on several factors, including the vehicle’s MSRP, its final assembly location, battery component and/or critical minerals sourcing, and your modified adjusted gross income (AGI).”

To qualify, you must buy a vehicle for your own use, not for resale, and use it primarily in the U.S.

In addition, your modified adjusted gross income (AGI) may not exceed:

$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers

You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your modified AGI is below the threshold in one of the two years, you can claim the credit. Your modified AGI is the amount from line 11 of your Form 1040 plus:

Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income.
Any amount excluded from gross income because it was received from sources in Puerto Rico or American Samoa.

Additionally, the vehicle must:

Have a battery capacity of at least 7 kilowatt hours
Have a gross vehicle weight rating of less than 14,000 pounds
Be made by a qualified manufacturer.

Note that fuel cell vehicles do not need to be made by a qualified manufacturer to be eligible. See Rev. Proc. 2022-42 for more detailed guidance.

The vehicle must undergo final assembly in North America.

And:

The vehicle’s manufacturer suggested retail price (MSRP) can’t exceed $80,000 for vans, sport utility vehicles and pickup trucks or $55,000 for other vehicles.

And for those of you who have been waiting and waiting and waiting for a new vehicle that has not yet materialized, you’ll be delighted to know that there is also a tax credit of 30% of the sales price, up to $4,000, for pre-owned vehicles purchased this year. But there are a couple of catches: You have to purchase the vehicle from a dealer; the sales price can be no more than $25,000; and the vehicle must have a model year two years prior to the current calendar year.

If you’re taking advantage of that credit you must not be able to be claimed as a dependent on another person’s tax return or have claimed another used clean vehicle credit in the three years before the purchase date.

Additionally, your modified adjusted gross income (AGI) may not exceed:

$150,000 for married filing jointly or a surviving spouse
$112,500 for heads of households
$75,000 for all other filers

You can use your modified AGI from the year you take delivery of the vehicle or the year before, whichever is less. If your income is below the threshold for one of the two years, you can claim the credit. Your modified AGI is the amount from line 11 of your Form 1040 plus:

Any amount on line 45 or line 50 of Form 2555, Foreign Earned Income.
Any amount excluded from gross income because it was received from sources in Puerto Rico or American Samoa.

To qualify, a vehicle must meet all of these requirements:

It must be made by a qualified manufacturer.
Note that fuel cell vehicles do not need to be made by a qualified manufacturer to be eligible. See Rev. Proc. 2022-42 for more detailed guidance.
It must not have already been transferred after August 16, 2022, to a qualified buyer.
It must be for use primarily in the United States.
It must have a gross vehicle weight rating of less than 14,000 pounds.
It must be an eligible fuel cell vehicle or plug-in electric vehicle with a battery capacity of least 7 kilowatt hours.

A couple of caveats for both the new and used vehicle credits: The credit is nonrefundable, which means that you can’t get back more on the credit than you owe in taxes. And any excess credit cannot be applied to future tax years.

You need to know that there also may be state and/or local incentives that you can utilize.

This site from KBB gives you the information by state.

I took a quick look at a few states to see what they had to offer.

California residents have some of the most generous rebate programs and may qualify for a host of different incentives for purchasing new and/or used EVs. I counted 25 different rewards, many of them from local utilities, and ranging from $500 to $30,000 (with the most generous targeted to low-income residents).

Florida residents can receive bill credits and rebates from local utilities, ranging from $10/month for charging their EV during off-peak hours to $300 for upgrading their home electrical system to support an EV charging station.

Massachusetts residents can receive up to an additional $3,500 for purchasing or leasing electric vehicles and fuel-cell electric vehicles. There are also monthly discounts for off-peak hours charging, and up to $1,400 for purchasing a qualified Level 2 EV charging station (which takes 1-4 hours for a full charge, compared to a Level 1 station running on your 120-volt outlet which takes 40-50 hours for a full charge).

As you might suspect, New York also has a healthy array of rebates/incentives—up to $2,000 for the purchase or lease of an eligible new EV, discounts for off-peak charging, bonuses for a charging station,

But here in Tennessee, we’re a little behind the times. Our local Knoxville Utility Board offers residents up to $400 in rebates when they purchase and install a Level 2 EV charging station.

Now before you say, Yippee! let’s buy an EV, you will want to consider a few things besides the rebates/incentives. Here are some comparisons from Consumer Reports.

Electric Vehicles

What You Need to Know: Electric vehicles (EVs) are very efficient and most new models have a range of over 200 miles to satisfy the needs of many drivers without daily charging.

PROS

Zero tailpipe emissions
No engine noise
Instant acceleration
Can recharge at home
May be eligible for federal tax credit

CONS

Purchase price
Short range compared to a gas car
Long charging times
Extra planning needed for long trips
Inconvenient without home/work charger

ANNUAL COST: $600; about $1,300 fuel savings compared to similar, conventional cars.

MSRP PREMIUM: $5,000 to $15,000 more than a similar, conventional car.

EV RANGE (between charges): 200 - 400 miles.

Bottom line, the average price of a new electric vehicle (EV) is $64,000. That compares to $48,000 for a non-electric car. And the average price of a used EV is $41,000 versus $27,000 for a non-EV car. So, consider how long you plan on having the vehicle, along with the price/expense differentials, as well as how many miles you actually drive, to determine if owning an EV is right for you.

Home Energy Rebate Programs Are Hot! (I couldn’t resist!)

The Inflation Reduction Act also allocated more than $8.5 billion for two Home Energy Rebate Programs, including the Home Energy Performance-Based Whole House Rebate (Home Efficiency Rebates, $4.3 billion) and the High-Efficiency Electric Home Rebate Program (Home Electrification and Appliance Rebates, $4.28 billion).

According to the Tennessee Department of Department of Environment & Conservation, these programs will be administered by the U.S. Department of Energy (DOE) at the federal level and State Energy Offices. These rebates should be available by late this year or in early 2024. Submission deadline is January 31, 2025.

The Home Efficiency Rebates program

Eligibility:

Any household is eligible for Home Efficiency Rebates, and rebate amounts will be determined based on energy saved and income qualification.

Multi-family properties are also eligible if half the residents meet similar income qualifications.

Single Family Household:
Modeled Energy Savings	Income Level	Rebate Amount
20%-34%	Less than 80% AMI*	Lesser of $4,000 or 80% of project cost
	80% AMI and greater	Lesser of $2,000 or 50% of project cost
35% and greater	Less than 80% AMI*	Lesser of $8,000 or 80% of project cost
	80% AMI and greater	Lesser of $4,000 or 50% of project cost
Multifamily Household:
Modeled Energy Savings	Income Level	Rebate Amount
20%-34%	A building with at least 50% of households with incomes less than 80% AMI*	Lesser of $4,000 per dwelling unit or 80% of project cost
	A building with at least 50% of households with incomes 80% AMI* and greater	$2,000 per dwelling unit up to $200,000 per building
35% and greater	A building with at least 50% of households with incomes less than 80% AMI*	Lesser of $8,000 per dwelling unit or 80% of project cost
	A building with at least 50% of households with incomes 80% AMI* and greater	$4,000 per dwelling unit up to $400,00 per building

*To determine the applicable area median income (AMI), please visit the Housing and Urban Development Median Income Tool.

Please note that the specific energy projects and rebates are not yet available. Check your state’s energy site for more information. In Tennessee, that site is available here.

The High-Efficiency Electric Home Rebate Act focuses on helping low- and moderate-income (LMI) households afford energy-efficient upgrades. The following is a graphic of rebates available from HEEHRA.

IRA's High Efficiency Electric Home Rebates — *Source: building-performance.org*

Eligibility:

The law specifies that Home Electrification and Appliance Rebates are available to (1) low- or moderate-income (LMI) households, (2) individuals or entities that own a multifamily building with low- or moderate-income households comprising at least 50% of the residents, and (3) governmental, commercial, or nonprofit entities that are carrying out projects for low- or moderate-income households or multifamily building owners.

A low- or moderate-income household is one where an individual or family has a total annual income less than 150% of the median income of the area where the individual or family resides. For households with a total annual income below 80% of the area median income (AMI), rebates can cover a higher percentage of the total project costs.

Rebate Limitations:
Eligible Rebate Recipient	Income Level	Rebate Amount Not to Exceed
LMI household or eligible entity representative representing LMI household	Less than 80% AMI*	100% of qualified project cost
	81% - 150% AMI*	50% of qualified project cost
Owner or multifamily building or eligible entity representative representing owner of multifamily building	At least 50% of residents with income less than 80% AMI*	100% of qualified project cost
	At least 50% of residents with income of 81%-150% AMI*	50% of qualified project cost

*To determine the applicable area median income (AMI), please visit the Housing and Urban Development Median Income Tool.

Measure	Rebate Amount
Heat pump water heater	Up to $1,750
Heat pump for space heating & cooling	Up to $8,000
Electric stove, cooktop, range, or oven	Up to $840
Heat pump clothes dryer	Up to $840
Electrical load service center upgrade	Up to $4,000
Insulation, air sealing & ventilation	Up to $1,600
Electric wiring	Up to $2,500
Installation	Up to $500

There is a maximum rebate of $14,000 per building, with percentage caps varying by income and building type.

While the above home energy rebates associated with the Inflation Reduction Act are not yet available, there are other tax credits that are currently available that you may find beneficial.

Commercial Clean Vehicle Tax Credit

Beginning January 1, 2023, a Commercial Clean Vehicle Credit is available to businesses for the purchase of new electric vehicles (EV) and fuel cell electric vehicles (FCEV). Vehicles with a gross vehicle weight rating (GVWR) below 14,000 pounds (lbs.) must have a battery capacity of at least seven kilowatt-hours (kWh), and vehicles with a GVWR above 14,000 lbs. must have a battery capacity of at least 15 kWh. The tax credit amount is equal to the lesser of the following amounts:

15% of the vehicle purchase price for plug-in hybrid electric vehicles
30% of the vehicle purchase price for EVs and FCEVs
The incremental cost of the vehicle compared to an equivalent internal combustion engine vehicle
Maximum tax credits may not exceed $7,500 for vehicles under 14,000 lbs. and $40,000 for vehicles above 14,000 lbs. Businesses may not combine this tax credit with the Clean Vehicle Tax Credit.

Energy Efficient Home Improvement Credit

The Energy Efficiency Home Improvement Credit can be claimed for improvements made to your primary home, where you live most of the time, between 2023 and 2032. The credit equals 30% of qualified expenses, including home energy audits, residential energy property expenses, and qualified energy efficiency improvements.

There are limits on the allowable annual credit and on the amount of credit for certain types of qualified expenses. The credit is allowed for qualifying property placed in service on or after Jan. 1, 2023, and before Jan. 1, 2033.

The maximum credit you can claim each year is:

$1,200 for energy property costs and certain energy efficient home improvements, with limits on doors ($250 per door and $500 total), windows ($600) and home energy audits ($150)
$2,000 per year for qualified heat pumps, biomass stoves or biomass boilers.

The credit has no lifetime dollar limit. You can claim the maximum annual credit every year that you make eligible improvements until 2033.

The credit is nonrefundable, so you can’t get back more on the credit than you owe in taxes. You can’t apply any excess credit to future tax years.

If you use a property solely for business purposes, you can’t claim the credit. But if you use your home partly for business, the credit for eligible clean energy expenses is as follows:

Business use up to 20%: full credit
Business use more than 20%: credit based on share of expenses allocable to nonbusiness use

Residential Clean Energy Credit

The Residential Clean Energy Credit can be claimed for improvements to a main home, where the person lives most of the time, whether they rent or own the home. The credit equals 30% of the costs of new, qualified clean energy property for a residence installed anytime between 2022 and 2033. Qualified expenses include solar electric panels, solar water heaters, wind turbines, geothermal heat pumps, fuel cells, and battery storage technology.

Qualified Expenses

Solar electric panels
Solar water heaters
Wind turbines
Geothermal heat pumps
Fuel cells
Battery storage technology (beginning in 2023)

Used (previously owned) clean energy property is not eligible.

Please note the same rules apply to business credits as in the Energy Efficient Home Improvement Credit.

Rooftop Solar Tax Credits

Solar PV systems installed in 2020 and 2021 are eligible for a 26% tax credit. In August 2022, Congress passed an extension of the ITC, raising it to 30% for the installation of which was between 2022-2032. (Systems installed on or before December 31, 2019 were also eligible for a 30% tax credit.) It will decrease to 26% for systems installed in 2033 and to 22% for systems installed in 2034. The tax credit expires starting in 2035 unless Congress renews it.

There is no maximum amount that can be claimed.

Eligibility:

Your solar PV system was installed between January 1, 2017, and December 31, 2034.
The solar PV system is located at a residence of yours in the United States.
Either:
- You own the solar PV system (i.e., you purchased it with cash or through financing, but you are neither leasing the system nor paying a solar company to purchase the electricity generated by the system).
- Or, if you purchased an interest in an off-site community solar project, if the electricity generated is credited against, and does not exceed, your home’s electricity consumption. Notes: the IRS issued a statement allowing a particular taxpayer to claim a tax credit for purchasing an interest in an off-site community solar project. However, this document, known as a private letter ruling or PLR, may not be relied on as precedent by other taxpayers. Also, you would not qualify if you only purchase the electricity from a community solar project.
The solar PV system is new or being used for the first time. The credit can only be claimed on the “original installation” of the solar equipment.

The following expenses are included:

Solar PV panels or PV cells (including those used to power an attic fan, but not the fan itself).
Contractor labor costs for onsite preparation, assembly, or original installation, including permitting fees, inspection costs, and developer fees.
Balance-of-system equipment, including wiring, inverters, and mounting equipment.
Energy storage devices that have a capacity rating of 3 kilowatt-hours (kWh) or greater (for systems installed after December 31, 2022). If the storage is installed in a subsequent tax year to when the solar energy system is installed it is still eligible, however, the energy storage devices are still subject to the installation date requirements). Note: A private letter ruling may not be relied on as precedent by other taxpayers.
Sales taxes on eligible expenses.

Clean Heavy-Duty Vehicle Program

The IRA will invest $1 billion to replace dirty heavy-duty vehicles with clean, zero-emission vehicles, support zero-emission vehicle infrastructure, and to train and develop workers. The U.S. Environmental Protection Agency (EPA) will be distributing this $1 billion in funding for clean heavy-duty vehicles between now and 2031. More information can be found on the EPA website at the link below.

Equipment included:

Zero-emission class 6 and 7 heavy-duty vehicles (e.g., electric or fuel cell delivery trucks, refuse trucks, utility trucks, school buses, and day cab tractors).
Zero-emission port equipment (e.g., electric or fuel cell dray trucks, harbor craft, locomotives, and cargo handling equipment).
Associated charging and other fueling infrastructure.

It doesn’t look like this program has been funded yet, so check back on this site for further information: https://www.epa.gov/inflation-reduction-act/clean-heavy-duty-vehicle-program.

As you can see, there is an array of rebate programs. Please consult the EPA and IRS websites to keep current on offers, and make sure you consult a good CPA to help you wade through the requirements to make sure you claim the maximum rebate to which you are entitled!

More Ways to Save: Discounts, Cash Back Programs, Credit Card, and Airline Rewards

Senior Discounts Are Available Almost Anywhere!

Most of us know that seniors (with programs beginning at age 50-65) can take advantage of some great discounts. The best known program is from the AARP (https://www.aarp.org/), which for an annual membership fee of $16, offers 10%-30% discounts for:

Hotels
Car rentals
Cruises
Vacation packages
Restaurants
Grocery stores

Discounted fees and rates for:

Health insurance
Long-term care insurance
Fitness centers
Hearing, vision, and dental coverage
Credit cards
Cell phones

But there are many additional senior discounts, such as specific senior-discounted days at local grocers and retailers. I know in my area, TJ Maxx gives seniors a 10% discount on a certain day of the week (depends on the store). However, some retailers, such as Kroger, eliminated its senior discount day (supposedly because the company slashed prices overall, hmm?). It behooves you to always ask (I’m not too proud!).

Here’s a pretty comprehensive list from seniorliving.org :

Retailer	Discount	In-store or online	Eligibility	Discount availability
Amazon Prime	50% off Prime membership	Online	Must be a qualifying government assistance recipient, including SSI and SNAP	Every day
Bealls Coast2Coast Rewards	10% off your purchase	In-store	No age requirement	Tuesdays
Big Lots Big Rewards	Cash-back rewards, VIP shopping day discounts, and a birthday surprise	In-store or online	Must create a Big Lots account	Every day
CVS ExtraCare	Earn 2% back in ExtraBucks Rewards every time you use your ExtraCare card	In-store or online	CVS ExtraCare card member	Every day
CVS Veterans Advantage	20% off your purchase	Online	VetRewards member	Every day
Home Depot	Price match guarantee	In-store or online	No age requirement	Every day
Goodwill Senior Savings Day	10% off your purchase	In-store	60+ years	Tuesdays
JOANN Senior Discount Day	20% off your purchase	In-store	55+ years; must present a state-issued photo ID for proof of age upon checkout to receive discount	Check your local JOANN store for their senior day schedule
Kohl’s	15% off your purchase	In-store	60+ years; must present a state-issued photo ID, which is required at checkout	Wednesdays
Lowe’s Veteran Program	10% off your purchase	In-store and online	Military veterans must first enroll online; valid photo ID required at checkout	Every day
Ross Dress for Less 55+ Program	10% off your purchase	In-store	55+ years; must provide a photo ID at checkout	Tuesdays
Michaels	10% off your purchase	In-Store and Online	55+ years; Must create a Michaels Rewards account	Every day
Red, White, and Blue Thrift Stores Senior Citizen Day	50% off your purchase	In-store	55+ years	Wednesdays
Rite Aid wellness 65+	Earn 5x points, in-store purchases that day. Free pharmacist consultation to review medications, immunization needs, blood pressure screening, and Medicare Part D questions	In-store	65+ years; must enroll in-store for the wellness65+ and be a wellness+ member	First Wednesday of each month
Savers	Percentage varies by store location	In-store	55+ years	Tuesdays
Tanger Outlets	Free Tanger coupon book with up to $1,000 in savings	In-store	AARP member	Every day
Walgreens Seniors Day	20% off eligible items and cash rewards	In-store and online	55+ years or an AARP member; must create a myWalgreens account	Check your local Walgreens for their senior day schedule

Grocery store	Discount	Eligibility	Discount availability
ACME Markets	Savings each week in coupons and deals; earn points, and redeem rewards for discounts on gas or groceries	just for U reward card member	Every day
Albertsons	Savings each week in coupons and deals; earn points, and redeem rewards for discounts on gas or groceries	just for U reward card member	Every day
Food Lion	Receive personalized savings and ways to earn rewards each month	Shop & Earn MVP Monthly Rewards card member	Every day
Fred Meyer	Save 10% on select items	55+ years	First Tuesday of the month
Harris Teeter	Save 5% on your purchase	60+ years	Every Thursday
Kroger	Save with coupons and special promos; earn cash back, fuel points, and community rewards	Shopper’s card member	Every day
New Seasons Markets	Save 10% on most items	65+ years	Every Wednesday
Publix	Savings each week with coupons and deals	Club Publix reward card member	Every day
Safeway	Savings each week in coupons and deals; Earn points and redeem rewards for discounts on gas or groceries	just for U reward card member	Every day

Restaurant	Discount	Eligibility
Bubba Gump Shrimp Co.	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Bonefish Grill	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Bruster’s	Save 25 cents per purchase	60+ years and a Bruster’s Kid at Heart card.
Carrabba’s Italian Grill	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Chart House	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Corner Bakery Cafe	Save 10% off your check	Present AARP card at checkout
Denny’s	Save 15% off your check; dine from Denny’s 55+ menu	Present AARP card member to save 15%; 55+ years for the senior menu
El Pollo Loco	Save 10% (up to $1)	60+ years
IHOP	Dine from IHOP’s 55+ menu	55+ years
Joe’s Crab Shack	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Landry’s Seafood	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Landry’s Inc. Restaurants	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Luby’s	Senior Luann Special $7.99 – 3 p.m. to close	No requirements
McCormick & Schmick’s	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
McDonald’s	Discounted or free coffee at participating locations*	55+ years
Perkins	Dine from Perkins’ 55+ menu at participating locations*	55+ years
Outback Steakhouse	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Rainforest Cafe	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
Saltgrass Steak House	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout
The Oceanaire Seafood Room	Save 10% on food and nonalcoholic beverages	Present AARP card at checkout

Company	Discount	Eligibility	Discount availability
AMC Theatres	Discounted movie tickets at select locations	60+ years	Every day
Ancestry	Save 30% on a World Explorer or All Access membership for the first year	AARP member	Every day
Cinemark Theatres	Discounted movie ticket for Senior’s Day and the Early Bird special	62+ years for Senior’s Day	Contact your local theater for their designated Senior’s Day
Marcus Theatres and Movie Tavern	Young at Heart special: $6.00 for any show that starts before 5:30 p.m.	60+ years	Every Friday
National Parks America the Beautiful Senior Pass	$20 annual park pass or $80 lifetime park pass provides admittance to more than 2,000 recreation sites	62+ years; must provide proof of age and residency or citizenship. A $10 fee applies to passes bought online or by mail	Every day
Regal Cinemas AARP Movie Tickets	Save up to 20% on Regal ePremiere tickets purchased online	AARP member	Every day
Regal Cinemas Senior Citizen Movie Tickets	Discounted movie tickets at select locations	60+ years	Every day
Regal Cinemas Concession	$3 off popcorn and soda combo	AARP member and Regal Crown Club member; must present both cards at the time of purchase	Every day
SilverSneakers	Free healthy living and fitness classes at over 17,000 fitness locations	65+ years and a member of select Medicare or other health plans	Every day
Showcase Cinemas	Discount admission at select theaters; popcorn and soda for $4.50	60+ years	Every Wednesday
Ticketmaster	Save on tickets to select shows and events	AARP member	Every day

Cruise company	Discount	Eligibility
AARP Travel Center Powered by Expedia	Up to $100 in extra onboard cruise credits on more than 15 cruise lines.	AARP member
Carnival Cruises	Exclusive savings for seniors	55+ years
Collette Cruise Tours	Combine two cruise tours and save up to $300 per person on your second tour and subsequent tours.	AARP member
Grand European Travel	Offers a variety of discounts throughout the year. You can currently save up to 15% on worldwide tours.	AARP member
Royal Caribbean	Exclusive senior pricing on selected sailings	55+ years
Vacations By Rail	Save up to $500 on more than 40 rail and cruise vacations	AARP member

Hotel or rental car	Discount	Eligibility
Avis Rent a Car	Save up to 30% off Avis’ base rates, plus get an upgrade on compact through full-size car class bookings	AARP member
Budget Rent a Car	Save up to 35% off Budget’s base rates, plus get an upgrade on compact through full-size car class bookings	AARP member
Budget Truck Rental	Save 10% to 20% on truck rentals	AARP member
Best Western Hotels & Resorts	Save 5% to 15% at over 4,000 hotels worldwide	AARP member
Cambria Hotels	Save up to 10% off the best available rate	AARP member
Choice Hotels	Save 10% on advance reservations	60+ years or an AARP member
Hertz	Save up to 20% off Hertz’s base rates with the Fifty Plus Program	50+ years
IHG Hotels & Resorts	Save with IHG’s Senior Discount Rate program	62+ years
Marriott	Offers a senior discount rate at participating locations	62+ years
Payless Car Rental	Save 5% on leisure daily, weekly, weekend, and monthly base rates, plus get a free upgrade on compact through full-size car class bookings	AARP member
Thrifty Car Rental	Join the Silver Thrifty Club and save 5%	50+ years
Wyndham Hotels	Save 10% off Wyndham’s best available rate	AARP member
Zipcar	$40 for an annual Zipcar membership, plus $40 in free driving credit	AARP member

Transportation	Discount	Eligibility
Amtrak	Save 10% on most rail fares on most Amtrak trains	65+ years
British Airways	Save $65 off World Traveller (economy) and World Traveller Plus (premium economy) or $200 off Club World (business class) fares when you purchase round-trip transatlantic tickets online to over 130 destinations	AARP member
Delta Airlines	Senior discounts are available for limited itineraries	Call Delta’s customer care at (800) 221-1212 to find out if your flight is eligible for the discounted fare
Greyhound	Senior discounts are available for specific destinations and dates	62+ years
United Airlines	Save on senior fares to select travel destinations	65+ years

Source: https://www.seniorliving.org/finance/senior-discounts/

Additionally, seniors can find discounts for internet and communications at AT&T, Consumer Cellular, Lively, Verizon, and T-Mobile.

Students Also Have Amazing Ways to Save

Now, moving from one end of the age spectrum to the next, your students should be taking advantage of some of these student discounts. According to Consumer Reports, the following categories all offer a variety of student discounts.

Laptops, Phones, and Other Tech: Apple, Dell, HP, Microsoft, Samsung, Adobe Creative Cloud
Electronics: Adorama, Best Buy
Telephone: AT&T, Verizon
Entertainment: AMC Theaters, Hulu, Spotify. Amazon, Paramount Plus, YouTube Premium
Clothing and Dorm Room Essentials: Amazon, Nike, Target, J.Crew, Levi’s, Madewell, Nike. Overstock
Magazines, Newspapers, and Books: Book Outlet, The New York Times, The Wall Street Journal
Travel and Auto Insurance: Amtrak, CoachUSA, Trailways, Allstate, Geico, Nationwide, State Farm, Travelers
Eyeglasses: EyeBuyDirect
Gasoline: Exxon, Mobil, and Walmart
Local attractions (you just have to ask!)

And for those who have already graduated, check out your alumni benefits. My alma mater, Ohio State, offers free, non-credit classes to alumni over 60 years of age, entrée to alumni clubs, and special rates for alumni tours.

Are Those Cash-Back Rebate Sites Worthwhile? The Answer Is Yes!

I’ve used rakuten (formerly Ebates) quite a bit, It has more than 3,500 stores that issue discounts to its customers, including:

Top clothiers: Nordstrom, Saks, Neiman Marcus
Travel: Booking.com, Expedia, Hertz
Electronics: Dell, Verizon, LG
Many home food delivery operations, specialty gourmet foods, etc.

The discounts range from 1% to 20%, or sometimes just a flat fee. The one thing I’ve noticed though, and this may or may not be important to you … but when I order cosmetics, for example, from my retailer’s website, I get free bonus products. On rakuten, I don’t.

But rakuten now has competition, and these are courtesy of https://financialwolves.com/sites-like-rakuten-rewards/:

Top Sites and Apps Similar to Rakuten Rewards

Fetch Rewards: https://fetch.com/, grocery cashback program.
TopCashBack: https://www.topcashback.com/, thousands of U.S. retailers.
Swagbucks: https://www.swagbucks.com/, also pays for referrals.
Capital One Shopping: https://capitaloneshopping.com/. I use this all the time; the rewards from my credit card add up pretty fast (I use it for most of my business expenses), and the rewards pop up automatically on many sites.
Ibotta: https://home.ibotta.com/, cash back at thousands of retailers.

There are many, many more similar sites. Try them all and see which one works best for you!

The Best Credit Card Rewards Programs

It pays to research credit cards. Of course, the goal is to never charge more than you can pay off that month, right? But—especially if you own a business—I’ve found that utilizing the right card can bring huge benefits (as I said earlier).

Nerdwallet.com mentions 16 credit cards in this article: https://www.nerdwallet.com/best/credit-cards/rewards

Here are the Top Five:

Credit card	NerdWallet rating	Annual fee	Rewards rate	Intro offer	Learn more
Chase Freedom Unlimited®	5.0/5	$0	1.5%-6.5% Cashback	$300	APPLY NOW ON CHASE’S WEBSITE
	Best for Cash back — bonus categories + high ongoing rate
Capital One Venture Rewards Credit Card	4.7/5	$95	2x-5x Miles	75,000 Miles	APPLY NOW ON CAPITAL ONE’S WEBSITE
	Best for Travel rewards — flat-rate rewards				Rates & Fees
Wells Fargo Active Cash® Card	5.0/5	$0	2% Cashback	$200	APPLY NOW ON WELLS FARGO’S WEBSITE
	Best for Cash back — high flat rate + incentives				Rates & Fees
Chase Sapphire Preferred® Card	5.0/5	$95	1x-5x Points	60,000 Points	APPLY NOW ON CHASE’S WEBSITE
	Best for Travel rewards — bonus categories
Blue Cash Preferred® Card from American Express	5.0/5	$0 intro annual fee for the first year, then $95.	1%-6% Cashback	$250	APPLY NOW ON AMERICAN EXPRESS’ WEBSITE
	Best for Cash back — families (groceries, gas, commuting, streaming)

Overall Score

1.81/5

No. Of Daily Flights

Fewer than 500

Allegiant’s Allways Rewards program benefits budget-minded travelers looking to save on low-cost flights to and from U.S. cities like Las Vegas, Los Angeles, Austin, Chicago and Washington, D.C. Allways Rewards members can earn and redeem points on Allegiant flights and ancillary purchases like seat selection and luggage fees. Plus, members can earn and redeem points for vacation packages, including hotels and rental cars.

Note that each of these airlines also issue credit cards which offer additional ways to earn miles.

I hope that these money-saving tips will help you stick to your budget, and maybe have a little (or a lot) left over for some fun!

Nancy Zambell

Nancy Zambell has spent 30 years educating and helping individual investors navigate the minefields of the financial industry. She has created and/or written numerous investment publications, including UnDiscovered Stocks, UnTapped Opportunities, and Nancy Zambell’s Buried Treasures under $10. Nancy has worked with MoneyShow.com for many years as an editor and interviewer for their on-site video studios.