It’s not always easy to know how to manage your expenses with only a small pension. Once retired, income can decrease significantly, and it can be difficult to save money without having an additional income. Luckily, many solutions exist to compensate. In this article we have compiled 10 of the best and most effective ways to save money. 1. Write Down Your Expenses Writing down expenses - no matter how big or small - is a good way to find out how much money you have in your pocket every month. The first step is to establish a monthly budget and how much money will be going …
Arranging Travel Insurance for Elderly Parents
When our elderly parents want to go travelling, it's important that they're protected. Not only is there a chance the trip could get cancelled, but there is always a risk of accidents whilst abroad. Getting travel insurance for your elderly parents will protect their finances, and offer additional peace of mind, should anything happen before or during their holiday. What Does Travel Insurance Cover? The exact coverage provided by travel insurance for your elderly parents will depend on the policy they take out. Most travel insurance policies will reimburse your loved ones if …
10 Ways to Help Older Relatives Save Money
Living with Elderly Parents
Moving in with older relatives - or having them move in with you - is certainly a big decision and not one that should be taken lightly. Living with elderly parents, whether in their home or yours, can be a wonderful experience. It gives you a chance to bond with your parents and spend precious time together. However, it can also lead to some tension. It's important to consider your options carefully before deciding to live with your elderly parents. For this reason, we've compiled some key questions to ask yourself before deciding if you should be living with elderly parents. 1. …
Pensions For Divorced and Widowed Women
In 2016, the age required to receive a state pension in the UK soared from 60 to 65 for women and the entire system was revamped with new qualifying factors. While the changes had been planned since the 1990s, the sudden change had devastating effects for women born after 1953. The government claimed it was a stride forward for gender quality as the male age qualification was already 65. Yet, it was women planning to retire at 60, that suddenly had to source another 5 years of income. The changes affected divorced, and widowed women more than anyone. Under the current system, to get …
Costs of Elderly Care – News Update
According to reports, "the number of over-65s needing care is set to leap by a quarter in a decade." The NHS is predicted to struggle. The predictions have come from Liverpool University. They have expressed that the nation needs to think about their later years earlier on to help ease the burden. The University has called for more focus on diet improvement, drinking responsibly, heart disease awareness and increasing physical activity to reduce the costs of elderly care. These are just a few of the biggest health conditions for which the NHS has to deal with every year. Lead …
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