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SENIOR
TIPS
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- - - MONEY |
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Most of our tip pages listed in the white box above also include
money-saving ideas.
Also see
Money Links
for more savings!
Tip from 80 year old
SeniorArk reader who found money. # 11 below. |
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"The quickest way to double your money is
to fold it in half and keep it in your pocket." |
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Click to add SeniorArk to your favorites!
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Explore our many tips and links pages at
www.SeniorARK.com.
Many of them contain information about how to save, stretch, and
obtain extra money for retirement expenses. |
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1.Take a long hard look at your checking
account. If it has been at the same place for a long time it may have
had fees added for regular services. Many banks are offering absolutely free
Senior checking. Go to this page for
more information |
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2. Here is
money directly in your pocket. 1-800-411-METRO offers
FREE directory assistance
from any phone in the U.S. You can also get
connected to the party you are calling for no extra cost.. This will
save about $1 to $1.5 per information call !! Try it.
It Works!! |
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3. Instead of paying $3 or $4 dollars for
hand washing liquid , buy a big bottle of bubble bath from the
dollar store and use it to refill your empty hand washing liquid
bottle. |
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4. Consider having
prescriptions for contacts or
glasses filled by online discount companies. Give them your
prescription and you will save BIG bucks. |
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5. Two sites to save you money are.
www.cairo.co, and
www.dealtime.com . You can find
sales, and the dealtime site will comparison shop the same product at
many sources. |
6. If you're buying an airline ticket, booking a
hotel room, picking out a computer or even shopping for an unusual
book, something small and obvious sounding may surprise you. Try the
manufacturer.
Article
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7. If
you receive an email request related to an inheritance or a transfer
of money into their account to help someone from a foreign
country you should forward the entire message, including the message's
header, to the
Secret Service. This is the government
agency in charge of investigating these fraudulent activities,
including the ones that originate in Nigeria and the UK.
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8. Read CNN article :
"Dumb money moves people make"
"Some people don't need crafty ID thieves to wreck their finances,
they're all too happy to do it themselves". |
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9.
15 Dumb Money Moves
50 Smart
Money Moves |
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10. Get a free booklet on
reverse mortgages.
Order it toll free at 1-866-264-4466 or
http://www.reversemortgage.org ( National
Reverse Mortgage Lenders Association ) |
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11. I just received two
checks for over a thousand dollars from two insurance companies
I had long forgotten
about. I clicked on the unclaimed money link on the
Senior Ark links/money page
(unclaimed money),
and clicked on the Maryland
office. And would you believe, there I was listed two times. I am 80
years old later in 2006, and I want to tell you I sure was able to use
that money. Thank you , thank you "a thousand times" Senior Ark.
I once lived in South Carolina, and my name appears there too. It
could be someone else with the same name. I'll let you know. M.M. Silver Spring, MD 20910
, April 3, 2006
Response--M.M.
We are so happy for you. Lunch? lol , Senior
Ark Editor. |
12. Financial
safety tips
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NEXT
8 TIPS WERE WRITTEN BY A LAWYER. THANK YOU VERY MUCH!
SeniorArk |
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1.
Do not sign the back of your credit cards. Instead, put
"PHOTO ID REQUIRED". |
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2.
When you are
writing checks to pay on your credit card accounts, DO NOT
put the complete account number on the "For" line. Instead,
just put the last four numbers. The credit card company
knows the rest of the number, and anyone who might be
handling your check as it passes through all the check
processing channels won't have access to it.
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3. Put your
work phone # on your checks instead of your home phone. If
you have a
PO Box use that instead of
your home address. If you do not have a PO Box, use your
work address. Never have your SS# printed on your checks.
(DUH!) You can add it if it is necessary. But if you have it
printed, anyone can get it.
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4. Place the
contents of your wallet on a photocopy machine. Do both
sides of each license, credit card, etc. You will know what
you had in your wallet and all of the account numbers and
phone numbers to call and cancel. Keep the photocopy in a
safe place. I also carry a photocopy of my passport when I
travel either here or abroad. We've all heard horror stories
about fraud that's committed on us in stealing a name,
address, Social Security number, credit cards.
Unfortunately, I, (the author, A LAWYER) have firsthand
knowledge because my wallet was stolen last month. Within a
week, the thieve(s) ordered an expensive monthly cell phone
package, applied for a VISA credit card, had a credit line
approved to buy a Gateway computer, received a PIN number
from DMV to change my driving record information online, and
more. But here's some critical information to limit the
damage in case this happens to you or someone you know:
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5. We have
been told we should cancel our credit cards immediately. But
the key is having the toll free numbers and your card
numbers handy so you know whom to call. Keep those where you
can find them. |
6. File a
police report immediately in the jurisdiction where your
credit cards, etc., were stolen. This proves to credit
providers you were diligent, and this is a first step toward
an investigation (if there ever is one).
But here's what is perhaps most important of all: (I never
even thought to do this.) |
7. Call the 3
national credit reporting organizations immediately to place
a fraud alert on your name and also call the Social Security
fraud line number I had never heard of doing that until
advised by a bank that called to tell me an application for
credit was made over the Internet in my name. The alert
means any company that checks your credit knows your
information was stolen, and they have to contact you by
phone to authorize new credit.
By the time I was advised to do this, almost two weeks
after the theft, all the damage had been done. There are
records of all the credit checks initiated by the thieves'
purchases, none of which I knew about before placing the
alert. Since then, no additional damage has been done, and
the thieves threw my wallet away this weekend (someone
turned it in). It seems to have stopped them dead in their
tracks. |
8. Now, here
are the numbers you always need to contact about your
wallet, etc., has been stolen:
Equifax:
1-800-525-6285
Experian (formerly TRW):
1-888-397-3742
Trans
Union:
1-800-680-7289
Social Security Administration
(fraud line): 1-800-269-0271
And
SeniorArk adds for ID theft: click
Federal Trade Commission ID Theft Help |
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13. One of the best
comparison
shopping sites on the internet:
http://www.mysimon.com/ Bill M., 5-11-06 |
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14. One of the cheapest
online book
sellers: http://www.alibris.com/
Bill M 5-11-06 |
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15. I have broadband internet access.
So I was able to replace my old telephone service (over $60 a month) with
the following phone service which uses my existing broadband connection (for
about $15 a month):
http://www.vonage.com/ Bill M 5-11-06 |
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16. 5. Mortgage and
amortization calculations.
Kiplinger
Calculations |
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17. Coverage for retirement savings
increases. The Federal Deposit Insurance Corp. raised the deposit
insurance coverage on retirement accounts, including IRAs and 401(k)s, to
$250,000 from $100,000. But note that basic insurance coverage for other
deposit accounts remains at $100,000. Kiplinger.com |
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18. Mutual fund companies that
sell annuities:
www.fidelity.com,
www.tiaa-cref.org,
www.vanguard.com |
19.
Ever notice how
money you had in your purse or wallet disappears overnight---while
you are asleep? I seem to have the same problem. Take a small notebook (3 x
4) and keep it in your purse or pocket. Write down EVERY PENNY you spend for
a week (or longer if you are not out regularly). You may find out what is
happening to that money that "disappears" when you
are not looking. S.N. Brown, Oklahoma |
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20. This may be something
many of you know about, but just in case you missed it, here goes. All cell
phones, including old ones, can be used to make emergency
calls to 911.
Without a subscription to a calling plan. Just find one at a thrift
store, I got a nice little Nokia with a charger and case for only $4. I took
it to the police station and had them test it for me. I didn't want to make
a false emergency call, and they might have been busy. It works. Get one for
a loved one. It is really cheap peace of mind.
Cheers, Lee O. |
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21.
Alir, is a national financial services
company that uniquely specializes in the
brokerage of senior life
settlements - which allow individuals to
redeem their life insurance
policies, convert them into a cash settlement for immediate use - and for
any purpose desired. Keep in mind that you will be selling at a deep
discount, so seek advice from family or a lawyer. |
22. Invest in a couple of "senior
survival" books for great tips on living "bold, not old!" as one
book says on its cover. I suggest these three to start with. You can
find them on Amazon.com most likely; if not, check bookfinder.com for a
GREAT resource for used books (I myself have found a number of books from
my childhood there!):
Living Poor/Cheaply with Style, by Ernest Callenbach. ("Poor"
was published in the 70s; he updated the book and renamed it "Cheaply" in
the 90s. Though originally geared for kids heading out into the world in
their 20s, the principles apply across the board to all people regardless
of age.)
Living
Well on Practically Nothing, by Edward H. Romney. (Although,
once again, some of his tips about where to live are dated, the basics are
timeless.)
The
Senior Citizens' Survival Manual, by Bill Kaysing. (This guy is
amazing! He has published a number of cheap-living books, including "Eat
Well for 99 Cents a Meal", which I have and which truly teaches how to eat
WELL--not tuna fish and macaroni--for very little a day with just a bit of
effort.)
There are many "survivalist" books on the
market. Even if you don't agree with their apocalyptic viewpoints, many of
them offer solid advice on
surviving cheaply. Open your mind and look thru them!
Rivahcat - VA
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23. Agitate
for a "trash-picking" day in your community! There are many
communities which have days where you put out your unwanted items at the
curb for anyone to take. After a
certain time (normally, by the next
morning), whatever is left is taken
to the local landfill or dump. But in the meantime, people can
scavenge for things they might need that you no longer want! |
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24.
Many banks charge their customers between 50 cents and $1 for the privilege
of using their debit card in any PIN-based transaction. The American
Bankers Association estimates only 13% of consumers pay these fees, but
critics say the practice is on the rise and consumers are often unaware of
these charges. |
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25. See tips on how to keep Senior
car insurance
rates down. |
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26. Sit down with your checkbook and copy
to a piece of paper everything you spent for the past 90 days. Many of
these expenses may be recurring, but write them down anyway. Then look
at each expense
on its
own, very carefully. Think about how you could save a few dollars on
each one. If you save $4 on a monthly recurring expense, that's $48 per
year. Look at your TV cable lineup.
What would you miss if you went to the next lower package? (could save
$240/yr). Are you paying for phone
service beyond what you need? Do you really use call-waiting or
caller ID? Did you buy a too expensive long distance package? Shop around.
Are you grocery shopping at
the right store? Could you buy more
generic. Is there something wrong with that
water bill? Leaky toilet? Did
you spend a lot of money on car
repairs at a dealership? Ask friends and neighbors for a great
recommendation of an independent. Are you paying too much for internet
access? Do an online search, and read carefully. Do you see large
"impulse" purchases during
that 90 days? A little impulse is ok, but $86 at the dollar store, when you
went in to save 50 cents on toilet paper.....hmmmmm. You get the idea.
Question everything for 90
days, and let SeniorArk know how much you found to save each month!!! |
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27.
You can get a
$500 tax credit ( Better than a tax deduction ) on certain
energy saving purchases between January 2006 and December 2007. Get details
at::
http://www.energystar.gov/index.cfm?c=products.pr_tax_credits#chart |
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28. Have you ever noticed that when you
are buying a product online, and you reach the checkout line, it asks
for a "promotional code"?
These codes save you money when you get your final total. Well,
believe it or not, there are websites that exist to collect known
codes and publish them for your use. Sometimes the retailer even wants
you to see the code on these sites, because it may bring you to their
product. But you will save money. One caution is that sometimes if you
use a code for saving money, it negates a free shipping offer, so
assess that for yourself. Some
places to look for these promo codes include Coupon Cabin, Coupon
Craze, Current Codes, CoolSavings, and KeyCode |
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29. Very similar to
#28 above. So you are shopping online for some kind of product.
Before you go to the checkout page,
or before you physically get in your car and go to a store, go to a
search engine (MSN Yahoo, Google, Ask, etc) and
type in the name of the store
or business, followed by the word "coupon". In other
words, if I needed something at Home Depot, I would type in HOME DEPOT
COUPON. Check a few of the results you get to see what is available.
You would be surprised at how many companies make coupons available at
various places online as a way to attract extra customers.
We are talking some big bucks
savings here. |
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30. One of my favorite websites is
www.coupons.com. On that website
you can find over a hundred coupons for many of the products you buy.
They're fairly easy to find.
Once I spot the coupons I
want, I print them, cut them out, and head to the store. l.l.k. |
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31.
MPG versus Money The conventional wisdom about many things is often not
very wise. Tips on how to battle high gas prices, for
example, can sometimes end up costing you a fortune.
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32. This may sound grotesque, but if it means heating
the house or buying the medicine you need, all things are possible. If
you're looking to make some quick cash you can always
donate your plasma, the
clear yellowish fluid portion of the blood that transports water and
nutrients to all the cells in the body and is used for transfusions to
people who have suffered shock, burns or trauma. Although your body
quickly replenishes its supply of plasma, there are a few precautions
you should take before using yourself as an organic ATM.
Here's how.
Submitted by HP, Nebraska (SeniorARK strongly
suggests speaking with your doctor before doing this. We HAVE
heard that as Seniors we tend to build up a harmful level of iron in
our blood, so selling or donating blood may in fact help this
condition???) |
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33.
Eight Ways to Save Money When Buying an
Insurance Policy |
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34.
Pay your
credit card balances in full each month.
Do not use credit card for things like groceries
or dining. If you cannot afford to pay cash for
it, you cant afford it, period. |
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35. The Better
Business Bureau warns Seniors about a
potential annuity scam. |
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36. Get rid of
those annoying--- and dangerous if found by the
wrong person---unsolicited credit card
applications. Call
1-888-optout and stop them from
coming. |
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37. Need extra
cash, now? Look around the attic, basement,
closets and drawers. You may see cash in there
after reading
this article. |
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38. Always some
great money-saving tips at
Consumer Reports Money Advisor |
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39. Phony
telemarketers and Internet schemers aren't the
only groups ripping off older Americans'
hard-earned money. The most common culprit is
closer to home. Family members are the abusers
more often than any other group.
Elder Financial Abuse: The Signs |
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40. Here is a very
useful site for tips on saving money at
home. |
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41. Many
states have reduced fees for seniors, sometimes
associated with income levels.
 My
wife just applied for a reduced auto
registration fee of $10 in Pennsylvania. The
regular rate is $36. Finding this reduction was
not easy on the state web site. But we were
alerted by our state representative to this
benefit. We will also qualify for a
multi-hundred dollar reduction in our real
estate tax. A PA senior may also qualify for
reduced dog license fees, hunting and fishing
license fees. Talk with your state government
representative about benefits for seniors in
your state. |
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42. For years, banks have
charged customers hefty fees for overdrawing
their checking accounts. Now a growing
number of institutions are charging customers
such fees even before the transaction
overdraws their account.
Bank of America and TD Banknorth started doing
it earlier this year. SunTrust, among other
banks, has been doing it for a few years.
Here's how it works: If
you pay with your debit card, some banks will
now charge you a fee -- $35 or more --
if you
don't have funds in your account at the time
you sign for the purchase.
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43.
There may come a time, when you are in or
entering retirement, when the bills are
overwhelming. You have wondered how you can
possibly live on a meager retirement with all of
these debts. Look into
declaring bankruptcy. This should NEVER
be done casually, but without it, it may be
impossible for you make ends meet in retirement.
Overwhelming bills can accumulate from uncovered
medical disasters, business difficulties,
uncovered natural disasters like hurricanes,
floods, tornados, earthquakes, or landslides. If
you have entered unwillingly into debt, or have
tried to cover other debt in good faith, there
is NO shame in bankruptcy. It exists just for
this purpose. It is a serious move, however, and
should be considered only with competent
counseling. We don't know much about the
Bankruptcy Network, but their site might be a
good
place to start a consideration. |
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Seniors are waiting for your tip here.
Or submit a useful link for a links section. |
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If
you are trying to put together a frugal retirement, you may want to read
especially:
Food tips,
Utilities tips,
Transportation tips,
Retirement Housing on Less than a Shoestring
But remember, there are money saving tips in
many more of our sections.
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These tips have been submitted by seniors who wish to share what
they have done to help navigate retirement. SeniorARK
is unable to
verify that these are good tips,
or that they will work for you. We try to eliminate tips that
clearly serve no purpose, or that appear to be misleading. Please
let us know if you find objectionable tips or links, or if a link is not
working. Please
submit your tips to seniors:
SeniorARK@aol.com
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