Tips To Make Sure Your Parents Aren’t Cutting Too Many Costs
This last year has been all about cutting costs. Many families are working to find ways to reduce spending, and save on the things they use every day. But while families can often find ways of saving and reducing how much they spend, many seniors find the task overwhelming. When you are living on a fixed income, how do you find extras to pay for the increases in food, gas, utilities, healthcare and medicine?
According to a report released by AARP, The Economic Slowdown’s Impact on Middle-Aged and Older Americans, 59 percent of those 65 and older have found it more difficult to pay for essential items such as food, gas and medicine. With such a high percentage of seniors finding difficulties, its important to watch your loved ones for signs they might be having trouble, and to monitor things that could put them at greater risk potential.
If you have a senior in your life living on a fixed income, it may be difficult to get them to talk about financial troubles. Watch for these warning signs that may indicate they are facing trouble.
1. Is your loved one keeping the home too warm in the summer and too cold in the winter? Do they justify the temperature in many ways?
2. Is your loved one avoiding home repairs? Do they look for quick fixes, or ways to do it themselves?
3. Have your parents cancelled things they previously loved? Maybe they don’t eat out as much, go to plays and shows with friends, or cancel vacations?
4. Do they avoid normal maintenance? Is the lawn not getting mowed, the landscape dying, or the driveway and sidewalk going unshoveled?
5. Is your loved one skimping on food? Do they buy sale items, avoid more costly foods they once enjoyed, and digress to less healthy food staples?
6. Are your parents avoiding doctors’ appointments, regular checkups, and trips to the dentist or eye doctor? Also watch for prescriptions left unfilled, or reducing the amount of medication they take in order to conserve their supply.
