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5 Tips to Help Seniors Stretch Their Dollars

By Nick Paciello, 9:00 am on

The current economic times require many people to find new ways of saving money, and it is especially important for seniors to be frugal since they often have limited budgets. Help your senior loved one spend less with these 5 dollar-stretching suggestions, brought to you by the staff at Home Care Assistance in Henderson.

1. Seek Expert Advice

Financial planners are equipped with enough knowledge about investments, savings, and other money-related topics. Your loved one can consult one of these experts to help prevent unnecessary spending and making bad investment decisions.

2. Take Generic Drugs

Seniors often require medication to maintain health due to injury or because the body’s immune system becomes weak with age. To save a few dollars, your loved one can use generic drugs, which are relatively cheaper than innovator drugs. The quality of generic drugs approved by the Food and Drug Administration (FDA) is high, and they are just as effective as those with a brand name.

3. Avoid Convenience Foods

Convenience foods such as prepackaged chips and processed meats are often expensive and unhealthy. Your loved one should consider buying fresh vegetables, fruits, and meat as much as possible. Not only can he or she save money by steering clear of high convenience food costs, but maintaining a healthy diet can also decrease the number of times he or she visits the doctor, which can also keep a few extra dollars in the bank account.

4. Walk More

Since gas prices are an expense no one enjoys paying for, you can advise your loved one to take walks instead of driving if his or her destination is reasonably close. He or she can even organize a walking group where everyone motivates each other to go for walks more frequently. Walking can also help your loved one become more active and flexible and promote his or her health, again potentially saving more money from doctor’s visits.

5. Use Renewable Energy

According to the United States Energy Information Administration (EIA), an average home uses 900 kWh and spends $107.28 on electric bills per month. To avoid these high costs, your loved one can opt for renewable energy. Solar power, for instance, is a cost-effective alternative to traditional electricity.

Saving money can go a long way toward making your loved one’s life more comfortable, but what if he or she faces other challenges keeping optimum comfort from being a reality? Consider hiring an in-home caregiver to meet your loved one’s additional needs. For trusted 24-hour and part-time care in Henderson, reach out to Home Care Assistance. Our caregivers can assist your loved one with a variety of daily tasks such as medication reminders, grocery shopping, and mobility assistance. All of our senior care services are backed with a 100% satisfaction guarantee, there are no hidden fees, and no need to sign a long-term contract. For more information, call one of our friendly Care Managers at (702) 527-7723 to schedule a free in-home consultation. We hope to hear from you soon.