Three Expenses Seniors Can Cut Out to Save Money
Times are tough for retirees living on a fixed income from Social Security. An article by Yahoo! Finance stated that “many retirees unknowingly spend money on items that drain their savings, making it harder to meet unexpected needs and stretch their money over time.” Here are a few things retirees can stop buying to help them shore up their savings:
Subscription services – The average American household spends more than $60 per month on streaming services. Many seniors are also paying for magazine subscriptions.
Hobbies – The article suggests golfers play at public courses and book lovers use the library or e-format books.
Premium plans – Another place to cut corners is by downgrading service. The article suggests retirees review insurance coverage, annual credit card fees and cell phone plans to find extra savings.
The Seniors Trust is committed to improving the financial well-being of America’s retirees through the passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual COLA, increased minimum benefits, and will ensure the long-term solvency of the Social Security program.
