5 Solutions For Seniors To Save More

Rachel Giffhorn
Jul 24, 2017 · 2 min read
Seniors making a plan to save more this year

Saving money is both necessary and beneficial. But when it comes to elderly, things can be different. Find out here how seniors can save easily.

In today’s economy everyone looks for solutions to save more and more money. But saving is not as easy as it appears to be. Especially for the seniors who are surviving on a fixed income, this can be a big challenge.

Find out some simple and efficient solutions you can use to save even when you a senior.

Save on your utilities

Nowadays a number of utility providers, including the electricity providers, offer several discounts. While some of the discounts are based on age, other might be dependent on income. If you qualify on either basis, you can start with your electric company’s website or give them a call to see what discounts you can take advantage of.

Save on your property taxes

The great news is that several states are happily offering huge discounts for homeowners above the age 65. For example, in New York State, the famous STAR program is benefiting the residents. For this, you will need to consult your state’s Department of Taxation and Finance office. You can also talk to local Realtor to get the tax discounts you deserve.

Save with discounts for shopping and eat out

There are several places offering heavy senior citizen discounts. Their employees have been specifically instructed to offer the senior discounts if someone qualifies. Just make sure that you don’t forget your ID to get the discount. Also, you need to remember that some places offer discounts on specific days. You can inquire about the policies of your favorite stores before you plan for your shopping trips.

Save on health care

Under the Affordable Care Act there are many preventative services which are now covered by medicare. You will need to know what services now receive expanded coverage. This will ensure that you’re not paying anything for those services.

For example, Part-D-covered brand-name prescription drugs come with a 50 percent discount. This means that you don’t have to ask for this discount, it should happen automatically. Always make sure to check your receipt though to ensure you are getting all the discounts and benefits you should be getting.

Save on transportation costs

Many communities offer door-to-door transportation for seniors. This can be either for free or at very low rate. No more waiting around at bus stops. Even for local trips, you can enjoy these benefits and save hundreds a year on gas, car insurance and maintenance, by taking advantage of local transportation programs.

These were five basic ideas to help you save money in the later years of your life. We hope you find them helpful!

Rachel Giffhorn

Written by

Rachel Giffhorn is an Executive Director with over 17 years of experience in hospital and long-term care, with a focus on assisted living and memory care.

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