7 Great Money saving tips!

Saving money is important to everyone, and possibly even more so to seniors who may be on a fixed income or who may have to find a way of dealing with a short term increase in their expenditure. Any older people who are interested in money saving tips should read on and find out how they can easily reduce their outgoings.


Property Tax

While it may be an onerous and off-putting tasks, regularly going over your property taxes may be a good way to reduce your annual outgoings. There are often ways to reduce the amount that you owe, as, for example, some cities or states are prepared to offer residents real estate tax abatements as one way of promoting developments, and often these may be targeted at older residents.


Energy Consumption

Many senior citizens are unaware that some home electronic appliances can suck energy from the grid even when they are not actually in use, such as TVs and computers. Discovering which of these devices are pushing up the energy bill in your home and unplugging them when not turned on is another good money saving idea.


Cut Down On Grocery Shopping

Shopping little and often can cause your grocery bills to mount up. Even when you try not to indulge, most people are tempted to do a little impulse shopping on every trip to the store so the more shopping trips you do, the more you spend. Try to only do one large shop every week, and you will also save on fuel too.


Plan Your Shop In Advance

Before even heading out to the store, plan what you are going to eat during the week and all the grocery items that you are going to need. Making a shopping list is a good way of cutting down on unnecessary expenditure. Another good idea is to find out what your local store is offering by way of specials each week and adjusting your list accordingly to take advantage of temporary discounts, perhaps by switching products to a cheaper brand or by stocking up on a reduced favourite product.


Investigate Your Benefits

The Australian Government Department of Human Services has a range of benefits designed to help senior citizens to pay for essentials such as home energy bills, medications and other basic requirements. You should investigate to make sure that you are accessing the full extent of the benefits that you are entitled to. The My Aged Care website is also a useful resource to find out about help that you can receive.


Senior Discounts

There are lots of discounts available for senior citizens from both local and national companies. Apply for a Seniors Card and enjoy lower prices on a host of different things from public transport to national park entry and from art gallery admission to registering your car. The added bonus is that you can often also use your Seniors Card when you are abroad to obtain discounts in other countries as they tend to have a reciprocal agreement with Australia. Don’t be afraid to ask for a senior discount, even if you cannot see a sign offering one as you may be in luck.


Make Payments Annually

When you are paying insurances, try to pay in a single annual lump payment and not on a monthly basis as you will be charged a premium for doing so.


As you can see, there are lots of ways for seniors to save money by making a few simple changes, and with the money saved, they can enjoy a better quality of life.