6 Easy Ways Seniors Can Save Money
In today’s economy, most people are looking to save money. Seniors on a fixed income may especially be looking for ways to reduce expenses. Fortunately, age does come with certain privileges. Here are six ways to save money… for seniors only.
Ask about senior discounts when you shop and eat out.
Many places offer senior citizen discounts, but they don’t advertise them. Employees are specifically instructed not to offer the senior discount or ask someone if they qualify. The upside is they also won’t ask to verify your age, so if you forgot your ID (or don’t feel like digging it out of your bag), you can still get the discount. Some places offer discounts on specific days and others, all the time. Find out the policies for your favorite stores and plan your shopping trips accordingly.
Save on health care through Medicare.
Under the Affordable Care Act, many preventative services are now covered by medicare without the coinsurance payment or deductible. Don’t count on the billing departments in your health care provider’s office to know all the new rules though. Know what services now receive expanded coverage and make sure you’re not paying anything for those services.
Additionally, Part-D-covered brand-name prescription drugs are now available for 50 percent off. You don’t have to ask for this discount, just read your receipt to make sure your pharmacist charged you correctly.
Enjoy discounts on your utilities.
Many utility providers, especially electricity providers, offer discounts. Some of the discounts are based on age, and often begin at age 60 or 65. Others are dependent on income. If you think you may qualify on either basis, start with your electric company’s website to find out. If you can’t find any details, call your provider or check with your local government.
Save on your property taxes.
Many states offer discounts for homeowners age 65 and over, as well as homeowners below a certain income threshold. In New York State, for instance, this is called the STAR program. Your state’s Department of Taxation and Finance office or website should be able to tell you about the discounts available, or a local Realtor can steer you in the right direction to get the school tax discounts you deserve.
Save on transportation costs.
Many communities offer door-to-door transportation for seniors either for free or a very low rate. No more waiting around at bus stops. Seniors who use their car only rarely, for local trips, can save hundreds a year on gas, car insurance and maintenance by taking advantage of local transportation programs.
Consider a senior community where most of your monthly expenses are included in your housing costs.
When you begin shopping around, you may find moving to senior housing is the best way to slash your expenses. Many senior communities include electric, heating, phone/internet/cable, and some meals, as well as landscaping and home maintenance and repair, all in one monthly rate. You may find that a senior community, where everything you need is right on site, costs about the same as your current rent or mortgage payment, too. Some of the costs may even be tax-deductible.
Whether you choose to cut costs a little by using some of these ideas or simplify your budget with a move to senior housing, the important thing to remember is there are many options for a senior on a fixed income.
SeniorLiving.Net is a free service for families to use that are looking for senior care or senior living for a loved one. Call (866) 662-0435 to speak to your local Care Advisor about senior care providers in your local area.