7 Money-Saving Tips for Aging Adults

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Strategies for Saving Money in the Golden Years in El Dorado County, CA

According to the National Committee to Preserve Social Security and Medicare, millions of seniors in the United States live on fixed or low incomes. Given the rise in the cost of living, cutting corners is often necessary. Here are a few ways older adults can easily save money.

1. .Unplug Electronic Devices when Not in Use

Many electronic devices continue using electricity when they’re turned off. Some of the most obvious culprits are appliances with miniature LED lights that stay on day and night. By unplugging these devices until they need to be used, older adults may notice considerable reductions in their monthly utility bills. 

Some seniors may find it difficult to pay their bills and plan their finances while managing daily activities. Aging adults who require assistance with the tasks of daily living can benefit from reliable senior care. El Dorado County, California, families trust Home Care Assistance to provide the high-quality care their elderly loved ones need and deserve. Our caregivers are trained to help seniors prevent and manage serious illnesses and encourage them to make healthier decisions as they age.

2. Cut Utility Costs

Seniors should close the vents and doors to bedrooms and other rooms when they aren’t in use to reduce utility costs. Utility bills can also be reduced by setting the thermostat to 65 degrees at night during the winter and raising it to 72 degrees in the summer.

3. Limit Shopping Trips

Seniors who visit the grocery store once a week are less likely to splurge on unnecessary items. Older adults should make grocery lists and refrain from purchasing items that aren’t on their lists. They might also consider shopping for groceries after they’ve eaten. This way, they’re less likely to buy impulse treats or foods they don’t usually eat. 

If your loved one needs transportation to run shopping errands, consider hiring a professional caregiver. When searching for reliable home care service agencies, families want to know their senior loved ones will be well taken care of. At Home Care Assistance, our expertly trained caregivers are available around the clock to assist with tasks around the house, provide transportation to medical appointments and social events, and much more.

4. Look for Discounts

Older adults are often eligible for senior discounts. Many places that offer goods and services advertise these money-saving benefits. Discounts are often found at a variety of businesses, from coffee shops to retail stores. Take advantage of the price reductions offered by commonly used service providers.

5. Get Rid of Cable

Monthly cable or satellite TV service can be quite expensive. Most people rarely watch the majority of channels these companies offer. Seniors often save hundreds of dollars annually by cutting cable services and using other options. Public libraries offer DVDs for rent. The monthly fees for subscribing to Amazon, Hulu, and Netflix cost a fraction compared to cable costs, and these services enable older adults to view their favorite programs and movies.

6. Remove Landlines

Unless it’s needed for business reasons, having a traditional phone line can become costly. Cell phones and payment plans designed for older adults are cost-effective options. Seniors should consider how much time they spend talking on the phone and select their plans based on their typical usage.

7. Sign Up for AARP Membership

For a small annual fee, seniors who join AARP get a subscription to the organization’s magazine, which covers a variety of pertinent topics. An AARP membership also provides older adults with discounts on top of other senior cost reductions. Discounts range from reduced prices at local stores and restaurants to insurance and travel benefits.

Consider hiring a professional caregiver if you need a break from your caregiving duties to tend to your loved one’s financial matters. Whether you need respite from your caregiving duties or your aging loved one needs live-in care, El Dorado County, CA, Home Care Assistance can meet your family’s care needs. Our dedicated caregivers are available around the clock to provide transportation to doctor’s appointments, ensure seniors take their prescribed medications, and help with a variety of tasks in and outside the home. Rely on the professionals at Home Care Assistance to provide high-quality compassionate care for your loved one. Give us a call today at (916) 358-3801 to learn about our flexible in-home care plans.

 

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