Small Business Readings and Information

One of the questions that regularly come up when considering senior care is how an older person can cut down on living costs, once earnings have ceased. You may be contemplating retirement and wondering whether your savings will be adequate to cope with the constantly rising prices. Alternatively you may have retired already, and be concerned about how you will afford home health care if you can no longer manage on your own.

When you were earning, you probably did not worry much about money saving. As a result you probably wasted quite a lot of money, without realizing it. Now you are a senior, you need to know how you can cut down on costs without drastically reducing your lifestyle.

Senior Discounts

It is surprising how many seniors do not avail themselves of all the available discounts.

· Before purchasing any commodity, ask if there is a discount for seniors – do not wait till you are paying as it may be too late. This includes restaurants, hotels, airlines, car rentals and public transportation.

· Store discounts – some stores have permanent senior discounts, while others have them on a specific day of the week.

· Check newspapers and the Internet for one-off discounts, and use coupons – cut out all you can find.

· Check with your garbage collectors, water and telephone company to see if they offer discounts for seniors. 

Medical

· If your particular health issue is not covered by your insurance, ask about a discount for cash payment. Also check if you can get coverage through state Medicaid programs, or try a Medigap policy.

· Always ask your doctor to prescribe generic drugs rather than proprietary ones – they are exactly the same but cost much less.

· See if your plan gives discounts for ordering several months of your medication at once, by mail.

Driving

· Look at increasing the deductibles on your auto insurance.

· See whether others in your locality can join in a car pool scheme.

Earning

Nowadays an increasing number of seniors are looking for part-time employment. Not only does this supplement your income, but it stimulates you mentally and psychologically, provides you with company, and really boosts your self esteem. At the same time the employers benefit from more experienced, loyal and reliable employees. The organization Workforce50, formerly called Senior Job Bank,is a nonprofit organization set up to link seniors with suitable jobs. 

Financial Planning

Whether you find employment or not, you will certainly need financial advice to help you use your resources to the best advantage. One place to find free financial advice is the AARP (American Association of Retired People), and in addition the Federal government has set up a Tax Counseling for the Elderly program. You can find out from the IRS web site where you can go in your locality for free advice. Another good provider of financial advice for seniors is the Dave Ramsey organization.  

Health Care

If you are like most seniors, you will be determined to stay in your home as long as you possibly can. There are providers of elder care, such as agencies or home health companies, who are there to enable you to retain your independence, and as well as giving you the kind of life you really want, this type of arrangement is much less expensive than nursing home care. If all your economies mean that you can afford to pay for home care, they will have been very well worth while.