One of the primary causes of stress today among seniors is their worry about managing household finances during inflationary times.With the costs of essential goods and services continually rising, living on a fixed income is becoming increasingly difficult.The gap between income and expenses has narrowed to a point where a growing percentage of seniors have serious concerns about their financial well-being.Inflation is bad news for people living on fixed incomes, but the good news is that seniors can offset rising costs by taking advantage of age-related discounts many companies are offering today.
Unfortunately, many senior discounts programs go unused for one reason because seniors are unaware that they exist.One of the best ways seniors can battle inflation is by making sure they are not overpaying for the goods and services they use.Before paying another bill or spending money on a new purchase, seniors should adopt a more proactive approach and research what discounts are available on the goods and services they use most often.Age-related discounts and incentives can vary greatly so it is important to take the time and initiative to identify which ones apply to you how to qualify for the discounts.An easy way to learn about senior discounts and qualify for them is to join the American Association of Retired Persons (AARP).
For a yearly fee of $9 $12, you will receive a list of companies offering exclusive discounts and benefits for older adults.The types of discounts available include the following:Travel: You can receive discounts on air and land transportation, hotels, cruises, car rentals, vacation packages and more.When planning a trip, always inquire about senior discounts.Dining: Many popular national chair restaurants such as Dennys, Applebees, Chilis and others give senior discounts as well as many fast-food companies such as Arbys and Chick-fil-A.
Local independently owned restaurants also offer age-related discounts, so check their websites for their terms and conditions.Optical & Hearing: Major retailers like Lenscrafters, Target Optical and others offer senior discounts on frames and lenses.Hearing tests for seniors are typically free of charge with other discounts that vary by location.The AARP Prescription Discounts provided by Optum Rx program offers a free prescription discount card that can be used to save on all FDA-approved medications not covered by your current insurance at over 66,000-plus participating retail pharmacies such as Walgreens Pharmacy, CVS Pharmacy and Walmart Pharmacy.Home and Auto Insurance: Review your home and auto insurance policies annually and compare rates from different companies to get the best coverage at the lowest price.Bundling home and auto insurance with one company can lower the total costs and AARP offers programs through Hartford Insurance that provide seniors with special discounts.Cellular service: All cellular companies offer senior discounts with pricing incentives ranging from minimal to significant reductions for the costs of phones and services.
In most cases, you must ask about discount availability and the terms and conditions that apply.If you do not currently receive a senior discount on your cellular service, then research and compare other options that can lower your monthly bill.Exercise: Most eligible Medicare plans enable seniors to sign up with Silver Sneakers and get free access to thousands of gym and exercise facilities nationwide.Entertainment: Major national movie chains offer senior discounts as well as lower prices for special shows offered by Ticketmaster.Once again, terms and conditions will vary so check their websites for more information.Identifying and taking advantage of lower prices on essential goods and services is a terrific way for seniors to counter the effects of inflation.
Many businesses offer age-related discounts but do not publicize it, so always remember to ask so that you pay the lowest prices possible.Another way to better manage your household budget is to make smarter spending decisions.Make coffee at home more often instead of spending your discretionary funds at expensive coffee chains.Instead of eating out or having meals delivered once or twice a week, cook at home more often.
If you have two autos and can get by with just one, do it and save on gas, maintenance, and insurance.If your home is now larger than your needs, consider downsizing.Evaluate your current healthcare insurance plan yearly.Healthcare insurance plans can change dramatically year-to-year, so compare coverage and price options so they match your unique healthcare needs.You cannot control inflation, but by taking advantage of senior discounts and spending smarter, you can help to control its effects and better protect your financial future.
Publisher: Senior Caregivers ( Read More )
