I'm on a very tight budget as well and much of our income goes to health care expenses. Just the usual over-50 stuff. Your friend might be able to find some remaining bargains on winter wear from Walgreen's.
I wanted to ride more this winter and not be bogged down with the makeshift stuff I wore the year before: bulky sweatpants under khaki trousers that are oversized now that I've lost 40 lbs since buying those pants. Felt like half of my energy was being expended on restrictive knee movement with those layers.
And my old but still good Columbia Gore-Tex/Thinsulate parka is too much for most mild Texas winter days. It was fine for winter motorcycle rides but I was sweating and risking chills wearing it for bicycling.
Fortunately there's a Pearl Izumi outlet store nearby so I prowled around for some bargains, including arm warmers for $10 and a PI Select Barrier Jacket for $30. No bargains on PI knee or leg warmers, though, so I got Nashbar brand lightweight knee warmers for about $12.
This winter Walgreen's carried a bunch of good winter wear cheap. Best bargain was women's poly blend fleece tights for only $5. I bought two pair and wore them often under baggy shorts this winter. I also wore the tights under jeans for a couple of really cold off-road rides. It was comfortable down into the low 20s.
Walgreen's also had some excellent microfiber socks for only $4 a pair, or three for $10. I got three pair and they've been the best winter socks I've ever worn. Thick enough that I didn't need to layer socks with a thinner pair (although I did wear thin anklets under the winter socks a few times). They breathed so well my feet never got soggy and chilled.
They also had some good deals on knit microfiber gloves for about $3-$5. Not wind resistant but they were very comfortable under my wind resistant Bontrager Thermal glove shells. And I got a pair of heavy insulated ski gloves for something like $8-$10. Those were good for almost an hour on rides in the 20s before my fingers began stinging. The glove shell wasn't quite windproof so a windproof thin shell would help.