So many bills go up, but retirement income rarely does. If your parents do get a little more from Social Security or interest, it’s unlikely it covers the increases they face on bills like property taxes, insurances, prescriptions, and heating fuel/electricity. When they need to cut expenses, what are some of the best ways to help them?
Cut Insurance Rates
Life insurance, car insurance, and homeowner’s insurance can all be lowered if you do a few things. Start with life insurance, stop smoking and your rates get lowered just for that one simple change. Joining regular fitness programs can also lower your life insurance rates.
Lower your car insurance by taking a driver’s safety course after you reach retirement age. AARP offers one that costs a small amount and gives you a certificate at the end that you can send to your insurance agent or agency.
When you retire, make sure you tell your agent or insurance agency. Many homeowner’s insurance plans offer discounts to seniors who are home all day. The lowered cost is offered because someone is there all day for security. Installing security cameras or a security system can also lower the cost.
Haggle for Lower Rates
Many companies will lower rates if you suggest you’ll leave for the competition. Call the cable or internet company and see how low they’re willing to go. If you don’t have the time, there are services out there that will do it for you in exchange for a percentage of your yearly savings.
Places like Bill fixers take care of the haggling for you and don’t require an upfront payment. You have them negotiate for better cable, phone, and internet rates. If they can help you save, they take the amount you’ll save over the year, split it in half, and send you an invoice each month. If they save you $240 a year, you’d pay them $10 a month for their service.
Ask Your Town for a Property Tax Break
It’s not offered in every state or town, but some areas are set up to give property tax discounts to retirees. It’s often income based. For example, in Washington retirees who make $30,000 or less can reduce the value of their home by $60,000 or 60 percent and pay taxes only on that remaining amount.
Elder care can be a very affordable way of making sure your parents have the help they need. You avoid having to sell a home, move to an unfamiliar setting, and hire movers. Caregivers come to their home to help with activities they cannot do independently and leave them to do the things they can.
To arrange elder care services, call an agency. The representative will go over prices, services, and schedules to ensure you pay for and get the services that are most beneficial to your parents.
If you or an aging loved one are considering Elder Care in Memorial, TX, contact the caring staff at Personal Caregiving Services at 832-564-0338.Providing Care in Houston, Bellaire, West University Place, Katy, and Sugar Land and the surrounding areas.