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Budgets for Seniors
Budgets for seniors can vary as widely as senior incomes and circumstances vary. Budgets for seniors who are fortunate enough to be wealthy or even very comfortable are vastly different from the budgets for seniors who are surviving on Social Security and perhaps small savings. Budgets for many seniors allow only for the most basic essentials.  Budgets for seniors in good circumstances can include small luxuries, travel, and in some cases major extravagances.
Budgets for seniors at any income level must consider the basics of housing, food and clothing, household operating expenses and health needs. Here again there are  many variables in budgets for seniors.  Some seniors own their homes free and clear; budgets for these seniors need only include taxes and operating expenses for their homes.  Budgets for seniors who are still paying mortgages or renting must have major allocations for these outlays.  Budgets for seniors living in small towns or rural areas ;may include allocations for lower rents.  Budgets for seniors living in warm climates (many move to such areas when retired) do not have to include heating costs. Budgets for seniors living in major cities will necessarily allow for more expensive housing. Seniors living in suburbs or rural areas must consider transportation costs.  In cities, buses and subways minimize such costs in budgets for seniors.
One thing budgets for seniors upwards of sixty years of age do not have to include is the cost of raising children.  Seniors in their mid-fifties, however, may still be paying for college educations for their children, and budgets for these seniors can be stretched thin for those who are in the middle income category.  Most of these seniors, however, will still be working, so budgets for middle-aged seniors are not limited to retirement incomes.
Budgets for seniors at the lowest income levels can barely cover the cost of housing (often subsidized housing) or simply contribute to a family household where seniors are living. Budgets for seniors at this level (perhaps Social Security income only) include nothing above the basics, allowing for no luxuries, travel or regular vacations.
The cost of health care can heavily impact budgets for seniors.  If an elderly person requires medications or regular assistance, there may not be room in their budget for seniors to even purchase adequate healthy food. 
Budgets for wealthy seniors are another matter.  A privileged few need scarcely bother with a budget for seniors, as they have almost limitless resources. Such people may plan carefully to handle their money. However a budget for seniors does not have the same meaning for them as it has for the middle income family or for the poor.
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