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How Seniors Can Save Money

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Seniors are meant to enjoy their golden years; that’s why they call them the “golden years” in the first place. But if you’re constantly worried about your money and personal finances, you won’t be able to enjoy those years to the fullest.

Finding clever ways to save money and reduce expenses can help resolve this issue, so how can seniors do it?

Home and Basic Essentials

Your most important and probably biggest expenses are going to be related to your house and your basic needs. These are some of the best ways to control those expenses:

  •       Consider downsizing. Your home is probably your biggest expense. Even if you’ve completely paid off your home, you’ll still be paying for it in indirect ways through insurance, property taxes, and upkeep. The bigger your house is, and the better the neighborhood you live in, the more these expenses will grow. Accordingly, many seniors choose to save money by downsizing or moving to a cheaper area. If your house is already paid off, this strategic move will provide you with more financial resources, which you can use to invest and create even more passive income streams.
  •       Find the right cell phone plan. Cell phone plans are designed to appeal to a wide range of consumers, offering them just the basics for a low price, all the extras for a higher price, or something in the middle. There are several options to choose from, so when assessing cell phone plans for seniors, you can pick a plan that suits both your needs and your budget.
  •       Control your utility usage. Every month, you’ll pay for utilities like water, electricity, and natural gas. There are many strategies that can help you control your utility usage, from appliance upgrades designed to use energy more efficiently to insulation upgrades in your home that allow your heater and air conditioner to run less. You can also employ conservation strategies like hanging your clothes to dry instead of using the dryer.
  •       Talk to a Medicare broker. A Medicare broker is a trained, licensed professional who can help you make the right decisions for your Medicare needs. Health insurance and health expenses are among your most significant concerns, but working with a trained professional can help you find the right path to achieving your healthcare goals. Ultimately, this could help you save hundreds or even thousands of dollars.
  •       Evaluate your transportation options. Even if you love owning and driving your own car, it’s worth considering alternative transportation options. Leaning on public transportation or switching to a different type of vehicle could help you save a lot of money on things like gas, maintenance, and insurance.
  •       Look for senior discount programs. There are many senior discount programs available through dedicated organizations and consumer-facing companies. If you’re willing to do some research, you could become a member of these programs and score amazing discounts on things you’re already buying.
  •       Shop smart. Shopping at multiple grocery stores, cutting coupons, and carefully calculating per unit costs can all help you save money on groceries – without sacrificing any of your nutritional needs in the process.
  •       Talk to your service providers. If you’re struggling to make ends meet, consider calling your service providers directly and talking to them. Many of them will be willing to extend discounts or new payment options to accommodate your limited income.
  •       Create an emergency fund. An emergency fund is a stash of money designed to be used only in an emergency situation. If you have one, and you experience an unplanned expense, you can tap into your existing fund instead of taking on new credit card debt. Aim to save at least enough money to cover three to six months of regular expenses.

Entertainment and Lifestyle

These additional strategies can help you save money on the entertainment and lifestyle side of things.

  •       Cancel unnecessary subscriptions. Take a look at all the subscription services you’re paying for. Do you really need or regularly use all of these? Are there any subscriptions you could cancel or downgrade?
  •       Take up free or inexpensive hobbies. There are many ways you can enjoy yourself without spending much money. Bird watching, hiking, gardening, and foraging for mushrooms are just a few examples of hobbies that can keep you active and social without demanding recurring payments.
  •       Take advantage of community resources. Visit your local Community Center and see what other community resources are available to you. You might be surprised at what you find; senior support programs, advisors, and peer networks could give you the information and guidance necessary to improve your personal finances even further.
  •       Travel in the off season. Many seniors and retirees like to spend their golden years traveling. But if you do travel, travel during the offseason to save significant money. It’s also a good idea to be choosy with your travel plans; some travel destinations are much more affordable than others, and you can almost always find discounts if you’re willing to look.

Getting Further Help

If you’ve employed all of these strategies and you’re still struggling to stay afloat, there are some alternative options available to you. Going back to work, taking on a side gig, or reallocating your investments could help you generate more income to cover your needs. 

Taking in a roommate could subsidize your housing and help you thrive in these circumstances. And, of course, you can always lean on family members and friends for additional guidance and support.

Michelle has been a part of the journey ever since Bigtime Daily started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from categories such as science and health.

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Lifestyle

The Breakroom Reset: Small Changes That Improve the Workday

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The office breakroom is a space that’s often neglected and can sometimes feel more like an afterthought than a key feature of the workplace. This is unfortunate, especially since employees typically visit the breakroom to rest and recuperate before finishing their shift. Considering its intended function, the breakroom should be viewed as one of the most important spaces in the entire office.

Having a welcoming and rejuvenating breakroom can promote social interaction, enhance workplace culture, and reduce stress. Employees who feel restored after visiting the breakroom are more likely to feel happy at work and be more productive the rest of the day. If your workplace breakroom leaves a lot to be desired, here are some small changes you can make to totally reset it. 

Small Breakroom Changes That Improve the Workday

Unless your breakroom is in shambles and needs major reconstruction, you don’t have to spend a fortune on it to make it more inviting. In many cases, small and simple changes can make a big impact on the overall vibe of any space.

Whether you’re working with a limited budget or limited space, there are still plenty of things you can do to reset your boring breakroom. Here are some small breakroom changes that can improve the workday and give you maximum bang for your buck.  

Convenient Hydration Options

Employees need to stay hydrated to keep their health and energy levels high.  Unfortunately, many employees are chronically dehydrated because they don’t have access to tasty beverages at work. This doesn’t necessarily mean you have to install a soda machine in the breakroom. Giving workers unlimited access to sugary drinks could backfire in the long run by contributing to illnesses and increased sick days. 

Instead of offering sugary beverages (that can actually contribute to dehydration in the long run), make it easier for your employees to stay hydrated with pure water. Providing a filtered office drinking water system is one of the best ways to encourage optimal hydration. Most employees will appreciate the clean, tasty alternative to standard office tap water.  

Comfy Seating

When was the last time you took a look at the seating arrangements in your breakroom? If it’s been a while, take a walk over there and give it a good look. Is there sufficient space for multiple employees to sit at the same time? Are the seats comfortable and rearrangeable so employees can interact with others or achieve greater privacy as desired? If not, you might benefit from a breakroom seating reset. 

Seating arrangements in breakrooms should be both comfortable and flexible. You might want to bring in some modular furniture because it’s easy to move and rearrange as needed. For maximum versatility, seating arrangements should include a mix of traditional breakroom chairs and tables, lounge chairs, and even bean bags. Making the space as open as possible will also help it look more roomy and inviting. 

Nutritious Snack Options

Most employers don’t provide full meals for their employees. It’s perfectly reasonable to expect workers to make their own lunch or dinner arrangements. However, if you want to support your employees’ energy levels, keep healthy snacks in your breakroom. Nutritious snacks can enhance employee performance throughout the day, so workers find it easier to get more done. 

Instead of investing in chips, candy bars, and other sugary sweets, opt for snack options that won’t cause sugar spikes and inevitable crashes. Some great options include trail mixes, protein bars, fresh fruit, popcorn, and veggie trays. Instant oatmeal cups can also be a convenient source of energy for those who don’t have time to grab breakfast before heading to work. You might want to send out an employee survey to see what types of healthy snacks your workers prefer.  

Optimal Lighting

Did you know that poor lighting can negatively impact your employees’ psychological and emotional well-being? Improving workplace lighting (including in the breakroom) can make a huge difference in worker morale and energy levels. Warm white light may be a great choice for the breakroom because it creates a soothing, calm atmosphere. Cool white light might be a better fit for conference rooms and cubicle areas because it enhances focus and energy.

Of course, natural light is arguably the best option for the office whenever it’s available. If your breakroom has windows, try to keep the shades open during working hours. That way, employees can experience the mood- and health-boosting benefits of natural light exposure.   

Entertainment Options

Some office managers and CEOs mistakenly think that a breakroom should be boring to serve its purpose well. However, the terms “boring” and “relaxing” are not synonymous. Employees may find a boring breakroom to be surprisingly non-restorative. On the flip side, a room equipped for entertainment can be very relaxing and rejuvenating. 

To make your breakroom a more enjoyable place to spend time, you might want to install a corner television. That way, workers can watch their favorite sitcom while they relax. You might also keep a few card or board games stocked in a cupboard for employees who prefer to interact in fun ways during their lunch breaks. 

Reset Your Breakroom Today

Your employee breakroom can reveal a lot about your overall workplace environment. If it’s not lit well, or if it’s boring and unwelcoming, workers are more likely to feel underappreciated and discontented. The good news is that you don’t have to sink a lot of money or effort into resetting your breakroom and getting a fresh start. Use these simple tips to revamp your breakroom and make it a place where workers can go to feel truly cared for and relaxed. 

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