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Easy Ways for Seniors to Save Money

By Beth Brown, 9:00 am on

Living on a fixed income can be challenging, especially when new medical needs arise and the ability to handle basic forms of self-care without assistance becomes more difficult. The good news is there are countless ways for seniors to limit their spending without negatively altering their quality of life. Here are some savings strategies you can help your aging loved one put to use, brought to you by the staff at Palm Beach Home Care Assistance.

Identify Free Local Resources

Depending upon where they live, seniors may have access to a number of free or low-cost resources to help offset their living costs. These include meal delivery services, food banks, and door-to-door transportation assistance. Taking the time to help your loved one identify these services and sign up for them can reduce his or her spending and make life much easier overall.

Stop Driving

Certain physical and cognitive changes can make safe driving harder for seniors. Although many aging adults are reticent to give up their car keys, the associated savings are well worth considering. Without having to pay for automobile insurance, gas, and auto maintenance, many seniors can keep hundreds, if not thousands of dollars in their pockets each year. Enlisting the help of home care companies for transportation needs or taking advantage of free or low-cost transportation services can make this transition easier. If your loved one wants to continue driving, he or she can have the insurance plan adjusted to reflect the actual amount of driving being done.

Eliminate Redundancies in Phone Services

Having reliable phone service at this stage of life is vital. It isn’t necessary, however, to have more than one phone line or multiple ways to place long-distance calls. Helping your loved one find the best landline or mobile phone packages for his or her needs can cut monthly spending costs. Conducting a thorough review of all phone plans and getting rid of unnecessary services can free up more money for groceries, medication, transportation needs, and recreation.

Assess the Living Environment

Although your loved one may have emotional attachments to his or her home, keeping a house with multiple bedrooms and other unused space can lead to a lot of unnecessary spending. With a smaller and more manageable living environment, however, your loved one may have fewer utility and maintenance costs. Downsizing in advance of any urgent need for long-term planning funds can give aging adults greater control over their future quality of life.

Even though saving money can contribute positively to your loved one’s quality of life, he or she may face other challenges that can’t be so easily fixed. If your loved one needs help taking care of various tasks around the house, consider hiring a professional in-home caregiver from Home Care Assistance. We offer live-in and hourly care in Palm Beach, and our caregivers can help with a wide variety of tasks, including grocery shopping, transportation, and mobility assistance. All of our senior care services are backed with a 100% satisfaction guarantee, there are no hidden fees, and you’ll never be asked to sign a long-term contract. Call one of our friendly Care Managers today at 561.429.8292 to schedule a free in-home consultation.