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 strategies you can help your aging loved one use to save money.
Identify Free Local Resources
Depending on where they live, seniors may have access to a number of free or low-cost resources to 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.
When it comes to enjoying a high quality of life, older adults may need more than just a few tips on how to save money. Seniors who want to remain healthy as they age can benefit in a variety of ways when they receive professional elderly home care. Home Care Assistance is here to help your loved one accomplish daily tasks, prevent illness, and focus on living a healthier and more fulfilling life.
Stop Driving
Certain physical and cognitive changes can make safe driving more difficult for seniors. Although many aging adults are reluctant 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 a home caregiver for transportation needs or taking advantage of free or low-cost transportation services can make this transition easier. Seniors who want to continue driving can have their insurance plans 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. However, it isn’t necessary to have more than one phone line or multiple ways to place long-distance calls. Finding the best landline or mobile phone package for your loved one’s 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.
Apart from managing their finances, older adults may also require assistance with everyday activities. If your aging loved one needs occasional help with bathing, grooming, cooking, or other basic household tasks, or if you need time to attend to important personal matters, reach out to Home Care Assistance, a leading provider of live-in and respite care. Richmond seniors can maintain their independence while living at home with the help of our reliable respite caregivers.
Assess the Living Environment
Although your loved one may have an emotional attachment to his or her home, maintaining a home with multiple bedrooms and other unused space can lead to a lot of unnecessary spending. With a smaller and more manageable living environment, your loved one may have lower utility and maintenance costs.
Helping a parent with finances can be difficult, especially if his or her health is decreasing. Richmond home care experts are available to provide high-quality care to seniors on an as-needed basis. From assistance with mobility and exercise to providing transportation to the doctor’s office and social events, there are a variety of ways professional caregivers can help your aging loved one continue to live independently. Home Care Assistance will work with you to customize a care plan that’s just right for your loved one’s needs. Call one of our friendly Care Managers today at (804) 207-4746 to learn more about our customized care plans.