Younger generations sometimes mock seniors for being frugal – but they don’t understand what it’s like living on a limited income, with no full-time employment and paycheck to help make ends meet through retirement. For seniors, stretching every dollar just a little bit further is crucial for survival; especially during an economic downturn, and especially now with the holidays, and more expenses, appearing just around the corner:
1. Talk to a professional – talking to a financial planner, either by using a service or speaking with one provided by a local branch of your bank can help you make sure you plan to meet your financial goals and needs. For example, they can help you get on track saving for future medical or care needs.
2. Don’t be afraid to ask for help – if you’re struggling to cover your basic needs then your local Area Agency on Aging can connect you with resources that can help
3. Find ways to reduce utility costs – keep blinds down and windows and doors closed to preserve optimal temperatures for your house
4. Walk, don’t drive – taking a car or public transportation can be more costly, so walk when possible and benefit your health and your wallet
5. Never make fast financial decisions – always ask for a second opinion before making decisions
6. Grow your own produce – plant a garden in your yard, a family member’s garden, or in a community plot to grow your own produce and cut down on food costs
7. Buy healthy items – convenient, pre-prepared items might be fast and easy, but they are less healthy and often more expensive
8. Buy generic – generic brands are less expensive, purchase them for foods and for your medications
9. Carpool – it’s more fun to travel places with company anyways; share transportation costs by carpooling!
10. Plan to stay at home – aging in place is the more desirable option for most seniors, and it can be more cost-effective too
Home Instead Senior Care in Rhode Island provides non medical home care services for seniors and the elderly who choose to live at home instead. Please call us for more information on our in-home care services at 401-667-2923.







