Q – My mom is retired, and since my father has passed away she’s been on her own. I know she stresses about her expenses, but she won’t accept any help. Do you have any suggestions for ways that she can make her money go further; I think especially with the holidays approaching, this would lift a big weight off of her shoulders.

A – Here are 10 tips to help seniors stretch a dollar, while still being able to meet their essential financial needs:

1. Talk to a professional – talking to a financial planner, either by using a service or speaking with one provided by a local branch of your bank can help you make sure you plan to meet your financial goals and needs. For example, they can help you get on track saving for future medical or care needs.

2. Don’t be afraid to ask for help – if you’re struggling to cover your basic needs then your local Area Agency on Aging can connect you with resources that can help

3. Find ways to reduce utility costs – keep blinds down and windows and doors closed to preserve optimal temperatures for your house

4. Walk, don’t drive – taking a car or public transportation can be more costly, so walk when possible and benefit your health and your wallet

5. Never make fast financial decisions – always ask for a second opinion before making decisions

6. Grow your own produce – plant a garden in your yard, a family member’s garden, or in a community plot to grow your own produce and cut down on food costs

7. Buy healthy items – convenient, pre-prepared items might be fast and easy, but they are less healthy and often  more expensive

8. Buy generic – generic brands are less expensive, purchase them for foods and for your medications

9. Carpool – it’s more fun to travel places with company anyways; share transportation costs by carpooling!

10. Plan to stay at home – aging in place is the more desirable option for most seniors, and it can be more cost-effective too

Via: Home Instead Senior Care

Home Care Pasadena provides home care for the elderly, aging, and seniors in Pasadena, Altadena, San Gabriel, San Marino, Alhambra, Monterey Park, Eagle Rock, La Canada, South Pasadena, Los Angelesarea. Call us today at 626-486-0800.

You might not want to admit it, but you might be one of many boomer women who finds herself alone and uncertain on how to manage her money. This isn’t uncommon in your generation with many women allowing the men in their lives to control the finances, but now that you’re on your own, you’re unsure about your financial security. Here are some tips that we have for managing your money – please share yours with us if you have anything more to add.

1. Let go of the idea that it’s too late – you might feel that as you approach your senior years, it’s too late to get yourself out of any financial mess you’ve made or learn new methods when it comes to managing your finances. When it comes to financial planning, it’s never too late to start!

2. Learn about money – this may sound obvious, but start doing your homework and research about all things finance. Learn about investment options, about financing available, about interest rates, and about anything that’s likely to apply to your situation before you even make your next move. Books and the internet are both great resources

3. Talk to a financial planner – you can hire a personal money adviser or speak to one that’s already available to you at your Pasadena bank (although someone independent might be more impartial) in order to keep you informed and help you make financial decisions

4. Support yourself – if you don’t have the means to save, invest or pay off debts, you might need to get a job. Find something you love, but ensure you have a set goal for earnings that will help you reach your financial goals

5. Pay off debts – don’t put it off, find a way to start paying off credit cards and loans right away

6. Save and invest – put money away every month without fail, every little bit will help you reach your financial goals and bring financial security

Via: Let Life In

Home Care Pasadena provides home care for the elderly, aging, and seniors in Pasadena, Altadena, San Gabriel, San Marino, Alhambra, Monterey Park, Eagle Rock, La Canada, South Pasadena, Los Angelesarea. Call us today at 626-486-0800.