April is Financial Literacy Month and we’ve found a few tips to help the senior in your life to stretch their dollar.
1. Order medication in bulk Ordering a 90-day supply of medication by mail often costs less than hitting up your local pharmacy once a month. When you use this method for long-term meds (generally what these mail-orders are designed for—check for restrictions), you can also get automatic refills so you never run out.
2. Skip the doctor when you can Retailers such as Walgreens, CVS, Target, and Walmart now offer in-store health clinics in many locations. These places are best for run-of-the-mill problems such as splinters or an earache, or to get a flu shot. If you don’t have insurance, you can save big—$60 for a visit compared with $1,000 or more at the emergency room. But see your regular doctor for chronic conditions, serious symptoms, or broken bones.
3. Get a free eye exam If you are 65 or older and haven’t had an eye exam in three or more years, you may be eligible for a free eye exam, compliments of EyeCare America, a program of the Foundation of the American Academy of Ophthalmology. You may also qualify for a free glaucoma test if you’re at risk and haven’t had an eye exam in a year or more.
4. Sign up for AARP Not thrilled to be in an older age bracket? You will be when it comes to cost savings. Being considered a senior by the AARP’s standard (50 or older) comes with many perks, such as discounts on medications, health insurance, and even hotel stays and vacations.
5. Walk it out Walking is one of the simplest and most cost-effective workouts. One study found that a walking exercise program—the study subjects met three times a week, starting with 10-minute walks and increasing up to 40 minutes—lowered the disability risk by as much as 41%.
To see the complete list of ways to stretch your seniors dollar, visit Health.com.
You can find more information on senior financial issues at http://www.caregiverstress.com/elder-financial/