In your retirement, the last thing you want to worry about is paying off debt. That’s the kind of stuff young people should worry about: mortgage payments, paying off student loans, the naïve run-in with overused credit cards. But retirees in our day and age are worrying about their budgets more than ever. Social security is no longer a guarantee and what we receive is not nearly enough to cover all of our medical, social, and day-to-day living expenses.

Retiree who find themselves taking out a title loan, or even just considering applying for one, should create a plan today. Figure out now how you are going to save money and pay off your debt in your retirement.

Here are 5 smart ways you can save when you’re retired.

1. Cut back on gifts.
We all love our children and grandchildren (and even our great grandchildren) very much. But that does not mean you need to purchase them gifts every time you see them. If you’re having a difficult time covering your basic needs, think twice before you volunteer to pay for summer camp and trips to Disneyland. Your family will still love you!

2. Scale down.
You may have owned your home for most of your life and watched your kids grow up in those rooms, but there comes a time when a large house is just too much for a retired couple. Since the real estate market has picked up again since the bubble popped back in 2008, now could be a good time to put your house back on the market. Scaling to a smaller living space doesn’t have to impact your quality of life. You may actually enjoy yourself more now that you’re no longer stressed with paying larger bills to maintain your oversized home.

3. Decide what’s really important.
Is it absolutely necessary to travel to the ends of the earth now that you are retired? Is fancy dining a requirement to enjoy your golden years? Perhaps if you pick and choose your big purchases and look out for great deals for meals and hot spot vacation destinations, you could save a few dollars and prevent your debt from getting out of hand.

4. Enjoy your seniority.
Senior discounts abound if you simply look for them. People of a certain age are always being given breaks here and there. These small savings can really add up over time. Take advantage of them and use the money you save to pay off any loans or debt.

5. Be on guard.
Many scam artists are on the prowl to make money off of the trusting elderly, so don’t be fooled. If a deal sounds too good to be true, it is. Be sure to do your research and understand every aspect of any deal you consider. If you are unsure about something, ask your family or friends to take a second look for you, and trust their judgment. They could help save you from losing more than you would gain.

When you have to repay debt in your retirement such as a title loan, you will want to do it quickly. These tips are a great way to start building up your capital so you can enjoy your best years worry-free.