Senior Money Saving Tips

Talking about money and other finances can be a sensitive issue that your loved ones don’t feel comfortable discussing. Older relatives living in their own home could perhaps benefit from advice about how to make their money go further, so that they can keep control as well as their independence for as long as possible.

Regardless of age, budgeting is a useful tool to get the most from your hard earned money. Home Instead want to further support those living at home by sharing a few practical steps that could help to save a little extra.

1-      Work out what you spend money on

Write a list of everything you spend per month as this will help you see areas where you can make some cuts. For example, reducing the frequency you eat out.

2-      Don’t impulse buy

Seeing something nice in a shop may be tempting, but ask yourself if you really need it. The best thing is to sleep on it and decide in the morning once you’ve really thought it through.

3-      Shop around

Compare prices and research the competition. Things may be cheaper at a different supermarket, or your favourite shoes may be cheaper at a different shop.

4-      Beware of special offers

Be mindful of clever marketing that makes you buy something you don’t need. Vouchers and special deals are designed to make you spend more, not less.

5-      Collect change in a jar

Having loose change in your purse, you are more likely to spend it or lose it. Keeping your change in a separate jar will help you build a healthy stash, which can then be taken to the bank to deposit.

6-      Choose generic

Buying branded products are more expensive than a generic one, even though the product is often almost identical. This is simply due to the fancy labelling. This is true for over-the-counter medicine, cereals or even jams.

It’s possible to make your money last longer by doing a few little things that require minimal time and effort. Saving your pennies, shopping smarter and thinking before you buy are just a few ways you use to save a little bit of money every month.

From our office in Abergele, Home Instead are proud to provide personal care, support and home help for Seniors, as well as rewarding careers for their CAREGivers all across North Wales; including Abergele, Rhyl, Colwyn Bay, Conwy, Denbigh, Holywell, Llandudno, Ruthin, Prestatyn, Llanrwst and everywhere in between!

To find out more please contact the office on 01745 772150.

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