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How To Live A Stress-free Life As a Senior
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As a senior or someone who is approaching his senior years and is trying to get help with retirement planning, how can you live your life with enough money to sustain you without having to look over your back constantly? Here are a few tips:
As a senior or someone who is approaching his senior years and is trying to get help with retirement planning, how can you live your life with enough money to sustain you without having to look over your back constantly? Here are a few tips:
1. Live a debt-free life
This might sound simple, but it is not as easy as it sounds. You need to stay on top of your spending habits and be frugal with your finances. You can talk to a debt adviser if you’re also already in debt. They’ll help you analyze your debts and make decisions on how you can deal with your creditors.
2. Cut your household costs
There are those little bills you pay that may not seem much, but they could cost you a few thousand bucks yearly. Getting a reduction or an exemption on these costs gives you a few hundred dollars added to your finances. Some conditions make you eligible for these reductions. Examples include:
• If you’re a carer (if you take care of someone who has disabilities or is terminally ill). If the person you care for is your partner or is below 18, you do not qualify for this.
• If you’re above the state pension age. People above the State Pension age qualify for many other benefits like free dental care, cold weather payments (which is paid if the temperature is below 0 degrees for a week and above)
Another way to cut costs is through your Council Tax. Council is the money for paid for rubbish collection and house maintenance. You could get exempted if:
• If you live alone, live with a student, or you live with someone who is below 18 years.
• If you care for someone is terminally ill or with disabilities.
• If you stay in a residential home.
• If you have severe mental impairment or live with someone who does.
3. Claim a benefits check
Benefits checks help to pay for medicals bills and your care, or even if you have to travel for a funeral. There are three main types of benefit checks. They include
• Housing credits
You’re only eligible for housing credits when you live in a rented apartment. If you find it hard to pay your house rents and you’re a senior, you can apply for housing credit. You could get your whole rent paid or get part of the money.
• Attendance allowance
Attendance allowances are for people that are terminally ill or people who need help with simple daily activities like grooming and locomotion. If you also have a severe mental illness, you’re qualified for this check. The money is tax-free, and you can use it for whatever you want. It is not much, but it will at least help with some expenses.
If you follow these tips judiciously, live healthily, and do things that interest you, your senior years are guaranteed to be filled with smiles and happiness.
