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Managing a Tight Budget
There is no retirement age for budgets. As we move into the retirement years we hope that what we have put aside, invested, and earned enough social security to see us through. Many seniors find themselves on a tighter budget then they would hope for but like anyone on a budget there are millions of ways to stretch a dollar. Caregivers have a special role in the lives of their senior and they can make living on a tight budget easier.
The first thing a Caregiver can assist a Senior with is creating a sound budget. Some people had the fortune to not need a strict budget going through life, for them this is a harder lesson to learn. Others have lived their whole lives with a budget of one size or another and upon retirement they adjust to the new paramaters. All good budgets have the same basic components; a dollar amount coming in, a list of reoccurring bills, and then the difference between those numbers is hopefully positive. Having someone outside the situation assist in making a budget may be all the help a Senior needs in the finance department, check online for great tools for budget creation and work with your Senior to create a budget they can be comfortable with.
Some Seniors with early dementia who can still live full productive lives may need someone to keep track of the details of day to day finance. Here a Caregiver is a trusted partner who can assist the senior with money handling and bill paying. The best and most simple way to help is to keep track of due dates and make sure things are paid on time and in full. This will save the senior from fees and penalties, both worthless budget busters, that rack up all to fast when someone forgets to pay. Depending on the situation, a Caregiver may help physically write the checks or pay online or just supervise to insure everything is done in a timely manner. When budgets are tight the best thing is to not loose money!
A budget stretcher for anyone is found in the kitchen. Many Caregivers already help prepare meals, but, to make a budget last longer cooking large batches of food and freezing in portions can save both time and money. Using coupons, shopping sales, and buying bulk nonperishables will all help make a tight budget go further. A Caregiver can help with all these tasks from helping lift large bulk items to helping find the sales or do the shopping.
One more way to help your Senior live well on a budget is to assit them with gift shopping. Everyone wants to keep up holiday and birthday traditions and with the help of an internet savvy Caretaker a tight budget can go far. Use all of the normal internet tricks; go through a portal site so the purchase ‘earns’ money, google for coupons, and of course comparison shop. Physical stores often have senior discount days, and, many organizations like AAA or AARP broker discounts – Caregivers who track down these deals can help enormously. Finally, by shopping year round you can also help spread out the expense.
A budget is just a frame work and with some help and planing even the most tight budgets can be stretched. A Caregiver who assists with these budget stretchers is worth their weight in gold.
