Volunteering doesn't really save you money, but this would be a great way to occupy your time and in my experience, it can actually be very entertaining and fulfilling. For those who are retired or have their children out of the house, you have more time to give.
No matter what your life was filled with prior to this transition, you have a wealth of information to give someone. From homemakers to electrical engineers, you can impart some sort of knowledge or provide a needed service. Never underestimate your ability to touch some one's life.
All of that touchy-feely stuff aside, many organizations are in need of helpers to keep their non-profit going. You can use the website volunteermatch.org to find a match for yourself. Also, consider the local hospitals, museums, and food banks.
Sometimes volunteers get the discounts that regular employees receive. Also, you might just get a free meal out of it. When I volunteered at Parkview (before I worked there), we were provided with a meal ticket. Also, we were able to participate in the employee's discount program.
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