Related Articles
Help For Seniors On Fixed Income – You are here: Home / Home-Living / Aging / How technology can help your elderly loved ones save money
We all have people we love who are growing up. Maybe it’s a parent or grandparent, or just a friend you’ve seen for as long as you can remember. In your mind, they may be perfect, but they may struggle with a few things, including technology.
Help For Seniors On Fixed Income
While it’s easy to let your aging loved one fall into the stereotypes and tropes surrounding the elderly and technology, you can actually do them a huge favor by helping them use technology to their advantage.
Seniors For Seniors
It’s no secret that many seniors are on a fixed income and medical care, especially after they retire. Sticking to a tight budget is one of the best ways for them to maintain a comfortable lifestyle, but there may be things they can do to save even more money.
By helping your aging loved ones take advantage of a variety of technology, you can save them money every month, and help them stretch their budget and stretch their dollar a little more. Let’s look at some simple technical examples that can make a big difference.
It is not uncommon for older individuals to live in homes with older appliances. Maybe your parents haven’t gotten a new refrigerator since you were a kid, or your grandparents haven’t upgraded their washing machine since you were alive.
While new appliances can be an investment, they pay for themselves in the end and save people money in a very short amount of time. According to the US Department of Energy, it is estimated that the average household can save up to 25% on their utility bills by switching to energy-efficient appliances. That equates to over $2,000 every year.
Sitting Pretty On A Fixed Income: 1,001 Personal Finance Secrets For S
If your aging loved one is on a tight budget, discuss with them which appliances need updating first. Consider which are the oldest, and which use the most electricity. The biggest “energy suckers” in the average home are:
Some appliance companies have zero-interest financing options, which can be a great way for someone on a fixed income to pay off a new appliance over time. Do your research, help your loved ones find the energy-efficient model that will best meet their needs, and watch them shine as their utility bills drop immediately.
It is estimated that the U.S. 69% of households own at least one smart device. Home smart devices include everything from clocks and security systems to doorbells and garage door openers.
There are some smart tech gadgets that will do double duty to benefit the people you love. For example, a smart thermometer is a great way to ease the heating and cooling processes of your loved one’s home. They can set the thermostat from their phone, no matter where they are, so their home is at the ideal temperature whenever they come over.
What Is Personal Finance, And Why Is It Important?
This type of temperature control can help cut costs on utility bills because they can turn down the thermostat during the day when no one is around.
Smart lighting can also be used in a similar way. By setting up light bulbs that respond to controls on the app, your loved ones can be sure the lights are off when they’re not home. They can set timers for interior and exterior lights, and have them turn on only when they’re entering a specific room. The less light used, the less energy is wasted.
Budgeting does not necessarily require any technology. However, that doesn’t mean technology can’t make it a whole lot easier.
Nowadays, phone apps and AI assistants like Alexa have made things a lot easier for senior citizens who may need some assistance or guidance in their daily tasks. Some of the best technology benefits for older individuals include:
Seniors Becoming Homeless As Housing Costs And Inflation Rise
There are also plenty of apps specifically designed for tracking financial information and budgets. You can help your loved ones set up these apps so that they can have a clear picture of their financial situation. Many apps like Mint and GoodBudget make it easy to see where someone’s money is being spent each month, and how they can reduce and save more. You can even be a part of your loved ones’ account with their permission, so that you can keep track of their finances and spending habits as well.
These ideas are only the tip of the iceberg when it comes to using technology for the benefit of your loved ones. Don’t let them fall into the stereotypes of seniors and the digital world. With your help, those you love can harness technology to its full potential to improve their quality of life, save money, and ease their retirement years without worrying about a fixed income.
Jori Hamilton is a writer and reporter from the Pacific Northwest who covers social justice issues, health care and politics. You can follow his work on Twitter @HamiltonJori, and through his portfolio at Author Jori Hamilton.
This website uses cookies to improve your experience. We’ll assume you’re okay with that, but you can opt-out if you want. Accept Disallow Privacy Policy
Debbie Spencer Discusses Resources For Seniors On Fixed Income To Help With Rising Costs
This website uses cookies to improve your experience when you navigate the website. Of these, cookies that are classified as essential are stored on your browser as they are necessary for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will only be stored in your browser with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the proper functioning of the website. This category includes only those cookies which ensure the basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be specifically necessary for the website to function and are used to collect user personal data in particular through analytics, advertisements, other embedded content are also referred to as non-essential called cookies. It is mandatory to obtain user consent before these cookies can be run on your website. Samuelfields Consulting Group (SFCG), a community e-learning partner specializing in financial wellness, believes that good money management is essential at all ages and stages of life. This is especially true for older adults when financial issues including spending and savings patterns present myriad challenges.
On Sunday 21 August SFCG would like to offer some advice and solutions. Inflation hits consumers’ wallets and older Antiguans and Barbudans living on fixed incomes may feel it the most. As senior citizens advance in age, many of them will require assistance in managing various aspects of their finances and depending on their relationship with the caregiver or power of attorney, this step has to be handled very carefully. should go.
February 2020 Commentary
The SFCG team recognizes that conversations with senior citizens about money management can be difficult and emotional for all parties involved. Therefore it is important to discuss the topic of financial aid with a measure of sensitivity. Some elders may be embarrassed by their inability to handle their financial affairs. Others may simply fear that by relinquishing control of money, they may lose a great deal of freedom. Some seniors are not knowledgeable enough to make long-term financial decisions and are unsure whether children or relatives will follow their wishes in managing their money.
SFCG has created some resources to help older adults and their caregivers make important decisions that can affect their financial security and well-being in later life. The Savvy Seniors Savings Guide is easy to follow and includes essential financial and wellness tips for older adults:
The Savvy Seniors Savings Guide is dedicated to Maryam Samuel, CEO of SFCG, mother of Megan Samuel-Fields, and other seniors who are old enough to retire and young enough to enjoy it. “Our senior citizens represent the wisdom, determination and resilience acquired through a life filled with varied experiences. We want to support our senior citizens as they manage their finances, to ensure they live up to their May you enjoy the golden years,” said Megan Samuel-Fields.
Megan Samuel-Fields is a CPA, Attorney-At-Law, Financial Coach and CEO of SamuelFields Consulting Group (SFCG). As a community e-learning partner, SFCG’s dedicated network of experts provides a wide range of professional services and training in financial planning, accounting, auditing, financial wellness, management and marketing.
Seniors Struggling With High Gas Prices
Advertise with the most visited site in Antigua! We provide fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Antigua and abroad! contact us [email protected] Brand New: A new, unread, unused book in perfect condition with no missing or damaged pages. See … Read more about condition Brand new: A new, unread, unused book in perfect condition with no missing or damaged pages. See seller’s listing for full details. View all condition definitions opens in a new window or tab
Afghanistan, Albania, Algeria, Andorra, Angola, Anguilla, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Republic of Azerbaijan, Bahamas, Bahrain, Bangladesh, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina , Botswana, Brazil, British Virgin Islands, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi, Cambodia, Cameroon,
Fixed income housing for seniors near me, help for low income seniors, fixed income housing for seniors, apartments for seniors on a fixed income, apartments for seniors on fixed income near me, fixed income apartments for seniors, rentals for seniors on fixed income, fixed income living for seniors, income tax help for seniors, apartments for seniors on fixed income, income tax help seniors, housing for seniors on fixed income
