Your Social Security check is almost always the same, month over month. But life, unfortunately, is not that consistent — with seasonal changes in utilities, fluctuating fuel prices and variable grocery bills, planning life on a fixed income can be difficult. This guide is about optimizing how much you spend on the basics, so you have more to go towards the fun stuff.
Shift Your Timing, Not Just Spending
If your income comes in on the 3rd, but your phone bill is due on the 1st, that’s a problem waiting to happen. Nowadays, it’s common to request — and receive — approval from your service provider to pay on the date of your choosing. Take the time to set up your recurring payments to fall after you receive your check: That way, you can get all the important stuff covered first, and not have to worry about budgeting for it later.
Some utilities will also offer flat monthly plans. This is a great idea if you live in a varied climate. Heating bills may be negligible over the summer, but a big financial problem over the winter. By spreading the cost out over the year, you’ll be able to plan in a more affordable (and sustainable) way.
Trim Pharmacy Costs Without Cutting What You Need
Medication can be unbelievably expensive, especially if you’re encountering severe health problems as you age. But there are many ways to save on medications, too. Here are a few of our best tips:
- Ask for a 90-day refill
- Use a pharmacy discount card
- Review your meds with your doctor during your annual check-up, with special attention to generic vs. prescription options
- Shop around at different local and delivery pharmacies
Plan Inexpensive Excursions
Connection brings joy and fulfillment, but it doesn’t have to cost much. Instead of an expensive dinner or travel, check out your senior center for free and affordable classes, events and game nights. Your local library usually has programming specifically for adults and seniors, often with an emphasis on learning about your community.
One Step at a Time
Stretching your income doesn’t mean shrinking your life. By shifting a few things and simplifying others, you make room for the good life, even on a small budget. And if your debts are stopping you from putting the “golden” in your “golden years,” Accredited Debt Relief can help. Our debt consolidation program helps seniors save 40% or more on eligible monthly payments, and even get debt-free in as little as 24-48 months.