Bargains, bargains, bargains, and more bargains.

Every day, there are bargain sales going on somewhere and they never fail to attract a throng of shoppers – like ants to a slice of cake.

They trigger emotions like excitement, happiness, pride in having saved a few bucks and a sense of winning or achievement.

Bargain sales date back centuries ago when. Then it looked like mayhem. You have to be fast on your feet and hands to grab an item before someone else does.

The Internet gave it a face-lift. Oh, there are still the grab-and-pay types, but people now prefer to do it online. And this sits well with the elderly. For reasons of mobility and limited finances, they go online to look for bargains. In fact, of the seniors who regularly go online, 77% do so to shop. This group of shoppers buys to the tune of $7 billion each year. 

Online shopping is not all roses, however. There are thorns you must know before diving into it…

Pros and Cons of Online Shopping:

Pros

Prices of items online are generally cheaper due to a lack or minimal overhead and other incidental costs. And it has the following advantages:

• You can do it in your pajamas
• You can save on gas and avoid the hassle of looking for a parking space
• Online stores are never closed and no aggressive salespeople to deal with
• Allows a wider range of choices before making a final decision
• No annoying crowds and long check-out lines

Cons

Some sellers intentionally raise their prices before offering them at a bargain. Other disadvantages are:

• You can’t inspect or try on the item purchased
• Offers no way of price negotiation and payment terms
• It may take a long-time before the item is received
• The online store offering such bargains may not be legitimate
• There may be hidden costs on returns
• There is usually no one to talk to in case of problems.

With all these, you may ask: Where do the seniors fit in all these?

Senior citizens occupy a significant chunk of the eCommerce business. Studies show that 28% of the entire population who buy online are senior citizens, while 41% are baby boomers.

Online shopping, however, is not a panacea for seniors who are loathed to go bargain shopping. There are pitfalls you must be wary of. And with the prevalence of “identity theft”  and online scams victimizing seniors, you cannot be too careful. So here are some tips to get the most of your online buying experience.

Getting the most of your online shopping experience

Online shopping is the current mode of purchasing items, be it for personal use, for gifts, home improvement, health, and wellness, and even airline and hotel reservations. But it is not simply a “click and you’re done,” thing. Other than trying to get the best deals, safety is a major concern. To satisfy both, the following are recommended:

1.  Secure your device

Be sure to protect your device by having a unique and strong password. For seniors, this is is a difficult task. Fortunately, there are several sites that can help you do this. Once you have one, never share it with anybody.

Then, install anti-virus software on your device to minimize the risk of corrupting your files. Reformatting your laptop or desktop is expensive and time-consuming.

As an added measure of protection, have your device protected against hacking. Finally, back it up so you sleep soundly at night.

2.  Plan what to buy

Plan what to buy and put a budget on it. Never overspend or indulge in splurge shopping because “they are cheap.” According to Greg Tucker, marketing director of Marketing Clinic, 42% of elderly people 55 and above, feel guilty after buying online – especially big-buck items.

There will always be another day, so buy only those you need, not what you want. Besides one of the major worries of elderly people is the sufficiency of financial resources. 

3.  Choose the right store

Choosing the right store can be daunting. There are so many of them out there. For example, Finder.com lists the top 50 online stores for 2019. Being on the list, however, is no guarantee that you will get the most out of your online shopping. Look for more.

In choosing one, be sure to:

• Check it’s reliability. The Internet is full of fraud sites that will leave you holding an empty bag
• Read reviews of the quality of their products and service

Once you’ve decided, be sure to know the following before you hit the “Add to Cart” button, check the following items:

• Delivery lead time
• Payment options, i.e. cash, credit or debit card
• Shipping charges
• Policies on returns. Some merchants want returns handled by a chosen courier free of charge while others have shipping charges. Some will just refund a purchase, rather than have it returned.

Note: Never give any information than what is necessary for the purchase.

Then hit the Add to Cart button.

4.  Post-purchase tips

My daughter is fond of buying online. I don’t know her success/failure rate, but mine is 50/50. The last time, bought through FB, was so bad I developed an online shopping phobia.

The point is that what you get may not be what you had in mind. So when you receive your purchase check that it is the right color, the right model and fits you perfectly (if it is something worn). Scrutinize for any factory defects or shipping damage.

On the non-physical side, take note of these:

• Unless the purchase is on a COD basis, never pay in cash. In fact, you should have an account with reliable payment processors like PayPal, and charge your online purchases through it.

• Always check your purchase records and file a complaint with your bank when you see some irregularities.

Online stores or eCommerce, emerged in 1991 as a direct by-product of the Internet with Amazon the first to offer retail business online. Now there are 110,000 online stores in the U.S. Though it still leads the pack, following closely behind are Walmart, Etsy, Target, etc. Together, they racked up a sales volume of $504.6 billion in 2018. And there are no signs of it leveling off or tapering off.

The bottom line is if you are not into online shopping, it’s high time to start doing so now. A lot of seniors like you have already done so and enjoying its benefits of fun, easy, convenient, and a real money-saver.

Please share for the benefit of other seniors

~oOo~

The post How to Get the Most from Online Shopping first appeared on Age With Charm.

Elderly poverty – shocking but true!Do you know how it is to be broke?

A few years after retirement, I was down on my luck. I mean really down. All my business ventures failed, my retirement pension was almost depleted and I still had two kids in college.

It was horrible, to say the least, and thinking about those years gives me the chills.

That was several years ago. Though I am not completely out of the woods, I can see rays of sunshine filtering through the foliage around me. Now I have hope.

But what about those seniors who face grinding poverty, who can barely eat a square meal a day?

Oh yes, there are many. They are all around you and me. But we don’t notice them, even ignore them in a bit of self-denial.

Unbelievable but true facts about elderly poverty:

Over 25 million Americans aged 60 and above are living at or below the federal poverty line, according to the National Commission on Aging (NCOA). They are those who did not set aside sufficient funds while still actively employed. And the number is growing as more and more baby boomers retire each year – roughly 75 million a year.

A study done in 2006 by the Center for American Progress, showed that 9.4% of seniors were receiving a retirement income of $ 9,669.00’yr – way below the poverty threshold in the U.S.

Across ethnic lines, Afro-Americans bear the brunt of elderly poverty. Though they comprise 9% of the total elderly population in the U.S., 21% live below the poverty line; Hispanics come in next at 17%, and Asian-Americans, third – thanks to strong familial ties which make things a little bit easy, financially.

Regardless of ethnicity, to be poor is tough. It is to be deprived of healthy and nutritious foods, proper medical attention, a roof over one’s head, and many other disadvantages and needs.

To be poor is to be ignored by society, treated like an outcast. If you are poor, you don’t have a voice and influence; you lose your self-worth. You become dependent on dole-outs from people who take pity on you.

I know how it feels. I was there. It is traumatic not knowing where and when the next meal would come, and from whom.

If you are fortunate enough to never scrounge for food, or get behind soup lines, or beg, don’t be so smug about it. Instead, consider it a  moral obligation to keep yourself above water, financially, and help those who are drowning.

Here are practical ways of doing it:

1.  Don’t be a part of the problem:

The saying, “You can’t give what you don’t have,” is very appropriate in dealing with the elderly poverty in society.

To help others cope with money problems, be sure you have the capacity to help without risking your own financial well-being.

You can do this by sticking to your budget, making sure your obligations are current, and not spending more than you have to. Stick to your needs, not wants. 

Any extra after all your expense and little savings, share it with those who have less.

Charity begins at home, in a manner of speaking. Besides, there are so many non-monetary ways of helping them, such as the following…

2.  Empathize:

It is not easy to be old and poor. But they don’t want your pity and sorrow for their misfortunes. They need your understanding, your empathy.

It would ease their burden if you show that you care and understand their situation, not pity them for the mess they are in.

Help them in any way you can because you care, not because you pity them.

3.  Help:

The most concrete way of showing empathy is to help by giving your time, money, and other resources such as food, medicines, and old clothes and belongings to ease the plight of needy seniors.

To avoid being misinterpreted, course your help or donations through organizations actively involved in helping elderly people in need.

I am sure there are such organizations in your place. Spend some of your spare time tending to soup kitchens or shelters for the homeless.

These acts of selflessness not only keeps you busy but also boosts your social consciousness standing in the community.

4.  Join a fund-raising drive:

Join a fund-raising group, or initiate one within your circle of friends. Brainstorm ideas on how to help the needy elderly in your midst.

It can be a fun run, a cultural show, a per plate dinner, or anything that will provide value to the community and help those who are in need.

Not only will you be helping the needy, but you will earn feel-good dividends from such activities.

5.  Use social media:

Social media has become the favorite and best way of disseminating information and awareness among its members. Put it to good use by taking the cause of elderly poverty.

Use it to increase people’s awareness about the plight of these marginalized members of society. Make them realize that it is not just about poor old people, but the entire community, as well.

Society is a microcosm of tiny little parts, with every bit affecting the whole in one way or the other, sooner or later. No matter how high you may be in the pecking order, ultimately the problem will get under your skin in the most unexpected and unpleasant ways.

Please share to make other seniors realize that there are other old people out there who can barely have a decent square meal a day.

Image: https://pixabay.com/en/people-homeless-male-street-850097/

The post Poverty: A Major Worry among the Elderly first appeared on Age With Charm.

I do. Though it happened a long time ago, thinking about them still makes stomach form knots, draws perspiration from my forehead, and raises my blood pressure a bit. They make me cringe in fear that they might come and pay me another visit.

That experience urged me to write a blog post three months ago hoping that other seniors can avoid the financial mess I was in years back.

And they are many. According to the NCOA (National Council on Aging), one in three Americans, aged 65 and above, cannot afford to pay for their basic needs like food, housing, and health care.

You are, indeed, blessed if you are not one of them. But it doesn’t mean you are exempted from developing a positive money attitude, because no matter how financially capable you are, money is a very perishable commodity. A hiccup in the financial market can evaporate your savings faster than an early-morning dew.

Here’s how:

1.  Let go of your past financial mistakes:

There is probably no person, dead or alive, who has not made a financial mistake. The best and the brightest have. But they moved on, carrying with them bitter lessons that have guided their future actions.

Not being able to let go is to be a prisoner of the past and a hostage of the future. Developing a positive money attitude is starting all over without any hang-ups of the past.

2.  Learn how to value money:

Seneca said, “It is not the man who has too little, but the man who craves more, that is poor.”

Money is an instrument, a wealth, a resource meant to serve your needs, not to splurge on your wants.

It takes hard labor to earn it, so don’t spend it if its supply will last forever because it won’t. Let it serve you, not enslave you.

3.  Don’t compare yourself with others:

Comparing yourself with others is probably one of the reasons that got you into a financial mess. Stop it. Your situation is peculiar to you, not of other people. You have your own needs and wants which are different from theirs.

Besides you don’t know the inner devils they are fighting against each day. You don’t know if you are financially better off than them.

So focus on your own goals, savor on your achievements, adjust your direction if you are veering off course.

4.  Develop a budget:

The word “budget” always fills people with dread because it automatically means restrictions. On the contrary, having a budget is freedom.

It allows you to live your life without any financial hassle because you are aware of where your money went; you are aware that you have the means to cover your needs.

Without a budget is like flying blind. And it is very stressful to realize that you have nothing left to pay for an obligation.

Here’s an easy way to do it. Follow the 50/30/20 rule of making a budget. This means using 50% of your earnings for your basics, i.e., housing, food, gas, medicines, etc. Use 30% for leisure, i.e., vacation, special classes, or on a hobby. The rest, 20% for savings. If you have obligations, use that to pay them off before setting up a savings account.

5.  Develop good habits:

Once you’ve set the goal of developing a good money attitude, then develop habits to support your goal. You cannot just let things happen by themselves. You must make them happen.

One such habit is to develop and budget and track your expenses against your budget. Set a specific time of the day to see how you are financially performing against your goals.

Make it a habit to make a cost-benefit analysis of your purchases. This way, you won’t end up buying something that will just gather dust in your closet.

Another is a simplification of your lifestyle by going “minimalist.” Get rid of things you don’t need. Check your buying preferences and see how you can make substitutions to save a dollar here and there. Start to “trim your sails,” so to speak.

It’s not that you need to save, per se, but it will rid you of the tendency to go overboard with your spending.

6.  Develop a grateful heart:

I know how difficult it is to be grateful if you have practically nothing, you are down on your luck, and the bills are piling up.

Yes, it is. But what could a better alternative be Six feet under the ground?

The fact that you are alive with all your faculties intact, is a good enough reason to be thankful because you can get back into the race.

Developing a grateful heart takes time and practice, just like anything else. But it can be done.

The easiest way to do it is to recite a grateful mantra every day.

Here is a good example:

“All challenges are an opportunity for growth and I am thankful for the chance to evolve.”

I got out of my financial mess several years ago through sheer will power (and a little help from a kind-hearted cousin). It strengthened me and made me resolve never to gamble my financial future again on things without a clear end-game.

It instilled in me a positive attitude towards money.

Please share so other seniors with money problems be motivated to make their own strategies. 

~oOo~

The post How to Develop a Positive Money Attitude first appeared on Age With Charm.

Are you having money problems You are not alone. A lot of people, worldwide, have the same problem.

While younger adults can survive it, seniors often find it difficult to wiggle around the problem. Because of age, they have very few mitigation measures to rely on.

And it is ironic that it comes at a time for joy and relaxation; a time to travel or do something interesting, reflect, write a book, or simply put one’s feet on a chair and take things easy.

Instead, they are stressed out not knowing where to get the money to pay the bills, buy nutritious food, or much-needed medicines. They don’t go out to save on transportation money, nor socialize to avoid unnecessary expenses.

If you are one of them, you a pariah to your own self. Money problems shut you off from the world, make you want to dig a hole in the ground and disappear. It robs you of the freedom of choice.

I know how it feels because I was in a very grave financial situation a few years back. It was tough; it made me feel suicidal. What kept me going then was my wife who encouraged me never to give up.

And I did not.

In hindsight, I find it kind of funny that in the depth of your despair, that’s when you see the light.

I suddenly realized that agonizing over money will not make the problem disappear; money will not rain down from heaven even if you cry buckets of tears.

It made me realize that if you look at money problems from a different perspective, you will find valuable lessons from your misfortunes – the silver lining behind the dark clouds.

I still have money problems but not as serious as before. And that episode in my life made a better person of me. It helped me, and it can help you. I

Here they are:

1.  Have a good attitude about money:

Money is an instrument to sustain life, not life itself.

If you consider money the centerpiece of your life, you will forever be miserable because you will never be satisfied with what you have, no matter how large a fortune it is.

So use it to give meaning to your life. Use it wisely and prudently. It is hard to come by, and once it is gone for good. And if you are a retiree, replenishing it is next to impossible.

Howard Schultz said, “…I have never defined myself by my worth. I always try to define myself by my values.”

2.  Live humbly:

I have learned over the years that pride ultimately drags you down.

There’s nothing wrong with self-confidence. In fact, we should all be confident with ourselves. But beyond that, when it becomes egoism, it is unhealthy – especially if your ego cannot be sustained or supported.

Live humbly. Humility has its rewards. Besides, after having reached this far, there is nothing to prove anymore, is there?

Henry David Thoreau said, “I make myself rich by making my wants few.”

3.  Be practical in your purchases:

People often buy things due to peer pressure or because it is the “in thing.” They want to keep up with the Jones’s. Unwittingly, they get into serious money problems.

Don’t be like them. Buy things because they serve your needs and your budget. While some argue that expensive things last longer, you still have to balance the pros and cons before opening your wallet. There is no point in buying something that will outlive you.

4.  Learn from your mistakes:

They say that life is a good teacher. And it never makes a mistake – if only people heed its lessons.

Your financial problems are not caused by somebody else, or that you were born under an unlucky star. They are caused by the things you did in the past. So don’t ever do them again.

Heed Bill Gates’ advice when he said, “It’s fine to celebrate success, but it’s important to heed the lesson of failure.”

5.  Make a budget and stick to it:

Another experience I learned over the years is that the best way to get into money troubles is not having a budget.

No matter how small your financial resources are, have a budget. That is the only way to account for and control your expenses. Without it, you will never know where your scant resources went. You will never know if you’ve bought all you need.

If Thomas Boone Pickens, chairman of BP Capital Management, has a budget, shouldn’t you?

He carries a list when he buys his groceries and will only carry the amount to cover them all. He says, “You couldn’t spend money you don’t have.”

6.  Save:

It may soon foolish to talk about saving if you have barely enough to last a month.

If you keep to your budget and exercise restraint in your spending, you can. It may be difficult, but it is a smart thing to do to cover unseen emergencies.

Set aside for the rainy days any amount you can squeeze off your budget. Over time, it can buy a loaf of bread or a box of milk.

7.  Sell a service:

If you have reached this far and still healthy you can earn a few dollars by selling a service.

If you have money problems, it would not be a bad idea to sell your skills to people or organizations in need of it.

There is nothing to be shy about it. You need extra cash, then go out and earn it. Besides, a lot of people are already into it, they created the work-from-home industry.

Money problems among seniors cannot be taken lightly because of the magnitude of the problem and its consequences.

It can lead to physical and mental health problems, put a strain on your relationships, and can cause family breakups.

While it can be argued that your money problems have their roots way back, but it is up to you to stop them from spreading before they choke you to death.

Please help other seniors by sharing this. Better still, subscribe to my newsletter to get a weekly update of the exciting and bittersweet life of a senior.

Image: //time.com/money/4258451/retirement-savings-survey/

~oOo~

The post Simple Tips to Avoid Money Problems first appeared on Age With Charm.

Have you been a victim of financial exploitation You probably have,  but didn’t know about it or too embarrassed to admit it.

Well, you are not alone. Statistics show that 26% of adult Americans have become victims of financial exploitation at some point in their lives, with 57% of them aged 50 and above.

That’s good news.

The bad news is that 58% of financial exploitation cases are committed by family members, while 17% are by close friends.

Here’s what it is…

“Financial exploitation” is the act by another person of taking your money or property, without your consent or knowledge and for his own benefit, depriving you of much-needed resources.

Sometimes called financial fraud, it comes in many forms, i.e., outright theft of money or property, making the victim alter important legal documents, living with an elderly rent-free, etc.

Elderly people are very vulnerable because they are very naive and trusting, and most of the victims are living alone.

Here are real-life examples:

–  A grandma asked his grandson to withdraw money using her ATM. And he did. What she didn’t know was that he was withdrawing more than she asked him to. She found out later when she inquired about her bank balance.

–  Another elderly was astonished to find out that her daughter changed her lease agreement and tried to take over her apartment. Not contented, she stole money from her aging mother.

You must have similar stories and thought they cannot happen to you. Don’t bet on it. They can if you are not careful.

These simple tips can help you avoid becoming a victim:

1.  Be aware of the risk factors:

If you live alone, socially isolated, and starting to show a cognitive decline, you are potential prey to financial exploitation.

You can minimize your risk by getting connected with family, friends, neighbors or anybody you can trust to help you manage your resources.

Trust, however, is a fluid commodity where money is concerned. So keep them at arms’ length from your money by keeping accurate records of your transactions. This will deter anybody from thinking of doing something you will regret someday.

2.  Don’t get into something suspicious:

More often than not, we do something against our better judgment.

If you think a proposal smells fishy, think about it a few days before jumping in. Better still, consult your family lawyer to understand its pros and cons.

Never rush into doing something you might be sorry for later.

Be very wary, especially about “double your money, or get rich schemes.” Most of the time, they are scams.

3.  Don’t go into joint accounts:

Joint accounts give equal rights over an estate to the other party, creating the condition for financial exploitation.

Consult with your banker the pros and cons of such an agreement before going into it. Know the mechanics of how to manage your account in case of emergencies or if you get incapacitated.

4.  Keep your home:

If you want to retire in place, never sign any document pertaining your home. You might end up living on the streets before you know it.

So many seniors became homeless this way.

5.  Have a confidante:

Chronic loneliness is not good for your physical and mental health. It clouds your judgment, makes you careless and irrational.

To avoid this, have somebody to confide in regularly like a family member, a friend or a priest to keep your feet firmly on the ground.

They can assist you in making financial decisions; help you put in order your check balances, and help you identify potential problems before they happen.

6.  Don’t be too trusting:

This may not be the best way to live a happy and stress-free retirement life, but when it comes to money treat everybody “guilty unless proven innocent,” especially phone callers.

For example, if you ask a relative to do ATM transactions, always ask for the printout. Don’t worry about offending his sensibilities. If he is well-meaning, he won’t. Only people with bad intentions get offended by this apparent show of distrust.

7.  Set up a revocable trust:

A revocable trust is a trust whereby provisions can be altered ot canceled dependent on the grantor (owner). This provides excellent financial protection for seniors, says Bob Mauterstock, an elder care planning expert.

8.  Set up a durable power of attorney:

This is a legal document giving someone you choose the power to act on your behalf should you become physically or mentally incapacitated.

But the person you choose to represent you must be someone you can trust your life on because the POA gives him unlimited access to your funds.

Falling victim to financial exploitation is very traumatic; it is like being robbed blind in broad daylight. It will affect your lifestyle, probably drive you to poverty.

So take all precautions not to fall into it. It is better to lose the goodwill of some family members or friends than lose your hard-earned money.

Please share to warn other seniors to be very careful in matters pertaining their finances.

Image: http://www.kcarplaw.com/financial-elder-abuse/

~oOo~

The post How to Avoid Financial Exploitation first appeared on Age With Charm.

Do you know that people like What do Bill Gates, Warren Buffet and Mark Zuckerberg, to name a few, have two things in common?

First, they are not only rich but the super-rich.

Second, they live on a budget.

As incredulous it may seem, they do budget their expenses – the size of which, however, is something we can only gawk in awe. As the saying goes, “Large buttons need large buttonholes.”

Which underscores the importance of having a budget – regardless of button size. In fact, the smaller the button, the more imperative a budget is.

Here’s why…

Why is a budget necessary in old age

Yes, elderly people like you and me have fewer needs. But no matter how minimalist you want yourself to be, there are certain items that you cannot let go or avoid without affecting your comfort and well-being.

Here are a few of them:

• Nutritious food
• Health care
• Home repairs
• Water and power bills or mortgage payments (if you are still having some)
• Travel and entertainment
• Day-to-day sundry expenses

These cost items stare at us every waking day of our retirement lives. They are very real and they need monthly allocations if you want to enjoy your retirement years. At it a time when you are supposed to enjoy life, it would be tragic if you can’t because of your failure to budget for them.

Without a sensible and working budget, you may deny yourself of nutritious food, or unable to buy your necessary prescription drugs. Without budgeting for home repairs, you may end up living in a home that can fall apart at any time due to disrepair, or suffer long wintry months from cold because you cannot pay your utility bills.

Making a budget is admittedly difficult. Many people scorn at the thought of making one. “It’s too difficult,” they say. Or “my income is too small to make a budget for.”

No income is too small to make a budget out of. In fact, the smaller your income, the more imperative a budget is.

Too difficult to make, Well, Payoff.com can help you.

But the real problem where budgets or budgeting is concerned is not in its difficulty to make or size of income, but on making it work, or sticking to it.

This article is intended to help you get over these hurdles. So stay with me…

How to prevent budget problems

Preventing budget problems require the discipline of an ascetic. In our current world of e-commerce, it is often difficult to resist TV ads, on FB, or unsolicited offers that land in your Inbox.

Not only must you make it work to rid your retirement days with financial problems, but you must also exercise creativity to pare it off to have some cash for unexpected expenses.

Here are a few tips to do that…

1.  Food and grocery expenses:

About 13% of a live-alone senior’s retirement expenses are for food and groceries, according to the  NPD (National Purchase Diary), 13% of a live-alone retiree’s monthly expenses are spent on food and groceries.

You can shave this off by 10% by using your senior citizens’ discount privileges or buy food items from discount grocery stores. And when dining out, patronize restaurants that offer discounts to senior citizens.

2.  Household expenses:

Another huge expense item in your budget is “household expenses,” which could eat up 43% of your monthly retirement income.

These expenses can range from extra water bills due to leaks, or unwanted power bills due to excessive lighting.

Do regular checks for leaks on your faucets and piping, the water closet, lawn taps, or your bathroom shower. Lower the wattage of bulbs you are using or switch to LED lamps. Turn off your TV set when you feel drowsy or go to bed, and other appliances you are not using.

If you are strong enough to do some DIY stuff around the house, do it rather than paying a handyman to do it  The Family Handyman has a list of things you can do yourself with ease.

3.  Transportation expenses:

Of course, you have to move about or risk being isolated. But be careful, studies show that roughly 14% of an elderly’s monthly expenses go to transportation.

But you can trim them down by doing these simple things:

• Avail of carpools if one is available, or take a bus if you live along a bus route. If a subway line is within the immediate vicinity, take it rather than drive.
• If you still drive and are using one of those gas-guzzlers, swap it for one with a little engine. It still serves the same purpose but with the added bonus of saving on gas expenses.
• When buying foodstuffs, ride-on a friend or a neighbor who is going out to be his goodies;
• If you are up to the task, bike rather than drive. It is good exercise and saves fuel, too.

4.  Avail of government benefits or utility discounts for seniors:

The government provides certain benefits and discounts for seniors. Check your local chapter of the AARP (American Association of Retired Persons) so you won’t miss them out.

For example:
–  Energy bill discounts are granted through the LIEHAP (Low Energy Home Assistance Program);

–  The Link UP or LifeLine programs give basic telephone services;

–  Affordable medical costs are provided by the MediCal and Affordable Act (Obamacare). Health expenses account for roughly 11% of a retiree’s monthly expenses.

They may not cover much, but any reduction in your monthly budget can help a lot in letting you ride out any financial needs you may have in the future.

5.  Other money-saving areas to consider:

A friend once remarked that a lack of money can make an elderly age rapidly.

He may be right, but it should not stop a senior from having fun.

So if you find reading fun but can’t afford to buy books. download free books from the Internet, or go to the nearest library and enjoy as much as you can for free.

For outdoor entertainment, check your local chamber of commerce if concerts or movies at the park.

Join the mailing list of local colleges and universities in your area to get updates on free displays, lectures, and symposiums. Take free courses for seniors. The mental enrichment they provide is invaluable.

I know a lot of people who don’t make a budget because they think it’s pointless. Their resources are not enough to make a budget.

Maybe they are right. But without one, it is impossible to cover all the necessary day-to-day expenses. They will either spend it needlessly or miss those that are really needed.

Without a budget, you will never know where limited cash went.

I know it is difficult to make a budget if you can’t even make both ends meet. I know how it feels I was once there. Somehow we made it. I was able to put both my children through college – something I could never have done if I and my wife did not exercise care in managing our scant resources.

Benjamin Franklin said, “Beware of small expenses; a small leak will sink a ship.” 

Yes, your financial ship will sink if you can’t help buying things you don’t need. If you want to prevent problems, live simply and buy only those you need, not what you want.

And while you are at it, you can help a lot of seniors if you share this post. After all, sharing is one of the hallmarks of a loving heart.

Image: //bit.ly/2tEScMc

~oOo~

The post How to Prevent Budget Problems first appeared on Age With Charm.