a caregiver and her elderly patientElderly finances are a complicated matter, and even for persons with years of real world budgeting experience, they can be a hassle.

Because of limited income, if any at all, the elderly often have to budget wiser than most. There are several easy means by which to do so, including locking off the lights when they aren’t is use and taking short baths.  Here are a few tips.

There is an app for that!  Mint.

Mint is a free, simple app that allows users to add their various accounts to record, analyze spending and saving habits. Added notifications allow for easy bill payment and tracking spending.  This not only allows for users to know where every penny is going, but exactly where spending can be cut.

Websites: the next best thing.

The National Council on Aging also has resources for seniors to save in a savvy manner.  Their toolkit is available: http://www.ncoa.org/enhance-economic-security/economic-security-Initiative/savvy-saving-seniors/savvy-saving-seniors.html#toolkit%201They also have a list of ten recommendations that are hard to beat: http://www.ncoa.org/enhance-economic-security/economic-security-Initiative/savvy-saving-seniors/top-10-things-all-seniors.html

Ask for the Senior Discount.

Senior discounts are available at most business. Ultimately, it never hurts to ask.  A few pennies pinched here and there will surely add up.

Buy in Bulk

Pantry items, toilet tissue and feminine products are but three necessities that can be bought in bulk. Buying in bulk as a family (if a parent uses a minimal amount of these things) can also benefit multiple wallets. Only one membership will be needed, though your parent will save while you do too.

There are most definitely additional money management tools available online for the elderly, to aide cutting spending. Research is key!
 

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About AlvitaCare

Alvita Home Care is a premier provider of senior in-home care services designed to enhance well-being, independence, and dignity. Our clinical team works diligently to provide customized care plans to deliver outstanding care for our patients with Alzheimer’s, dementia and memory care, personal care, private duty nursing, hospice and palliative care, and companionship. Our experienced staff includes registered nurses, license practice nurses, licensed home health aides, and companions that can deliver senior care in the home or facilities. Alvita Care has earned the Gold Seal of Approval from Joint Commission at all locations with offices in New York City, Westchester, Long Island, and northern New Jersey.