Retirement can be more stressful than you think. You might be wondering how you can stretch your money so you can still enjoy all the things life has to offer. Thankfully, there are plenty of easy ways to do this.
1. Research Your Insurance Company
One of the first things you can do is look into your insurance company. Are they giving you the best deal you can get? Not all insurances companies are right for the job of managing your house and car expenses. Finding the one that’s right for you may help you reduce what you spend.
2. Create a Financial Plan
Another way to save money is to create a financial plan. A plan will help you manage what you have and how to make it work from month to month. The plan can also help you prepare for the future and manage your investments, insurance needs, and taxes. The Government of Canada offers an income calculator that will help you start the process.
3. Use Your Senior Discount
A senior discount is another great way to stretch your budget. From stores to public transportation, you can use it to get a lower cost for the same quality service. Most places in Ottawa accept a seniors discount for anyone 50 and older.
4. Look for Sales and Deals
Not only is a discount handy, but keeping an eye on sales is also a great way to save your money. Watch out for sales in grocery stores, drug stores, and retail stores to get more for less on groceries, toiletries, gifts, and electronics. You can also keep an eye on gas prices and find places with the cheapest gas near you.
5. Switch to Streaming
In a time where most things are available on streaming services, it might be a good idea to cut your cable. You can spend too much money on a service that you only use to watch one or two channels. Many streaming services offer hundreds of shows and live coverage of sports and events for a lower cost. Switching to one of these streaming services is another way to save money while still being able to watch your favourite team.
6. Consider Moving to a Carefor Home
Last but not least, you can always find a home with the Carefor Civic Complex or Carefor Mackay Centre. They are affordable retirement homes in the Ottawa Valley where you can spend your time doing what you love without worrying about cost. They offer a place for low-income seniors to live when they can’t live at home. To learn more, visit carefor.ca/services/retirement-living/
Managing your money doesn’t have to be stressful. By following just a few tips and tricks, or looking into one of Carefor’s retirement homes, you can greatly reduce your costs and find a way to live without worry.