A realization that hits people at different points in their life is that they will not always be young and healthy enough to work day and night. At one point in your life, financially supporting yourself can become very difficult, especially if you don’t have any family members helping you.
The point in life we are talking about is old age. You simply do not have enough revenue past a certain age to support your previous lifestyle. Changing yourself according to circumstances I a part of life, and there are certain changes you can make in your lifestyle that will ease the stress of financially supporting yourself.
5 Ways to save money in Australia
- Cheap Electricity and Gas Prices for Seniors
In Australia, the consequences of being late on your electricity and gas bills are ruthless. The penalty and repercussions combined will give you a much larger bill than before. Worry not; however, there are plenty of ways to go about saving yourselves with cheap electricity and gas prices for seniors.
Given that electricity usage is of two people, it will be sensible and cost-efficient for you to select an electricity plan with low daily supply charges. Simultaneously to save money when it comes to gas, you can look for companies that sell gas cheaper; for instance, Origin, AGL, and Momentum Energy are the cheapest gas providers in Australia.
- Utilizing your Senior’s Discount
One of the best initiatives taken by the government and the local businesses is to set up a system of offering the senior citizens discounts. All you have to do is apply for a Seniors Card, and once it arrives, you can enjoy discounts on transport and an array of other goods and services. The eligibility criteria for a Seniors Card is more or less the same for all states. Some of the requirements include the age of more than 60 years and being a permanent resident or ACT.
- Buy Used or Refurbished Products
Combined with your Seniors Discount, this way of buying goods can save you a whole lot of money. Although sometimes people want brand new items, used and refurbished products are just as useful. You can visit vintage stores for things like threads and clothes. The biggest benefit of buying second hand comes with technology. After thoroughly checking for any faults, buying refurbished phones or laptops will give you the same utility as a new piece of technology only at less than half the price.
- Saving Transportation Costs
This way of saving money is contextual and dependent on the area that you live in. It can be incredibly costly to maintain and run a car with insurance costs, maintenance, and repairs and gas adding up. If you live in an area with an efficient public transport system, doing away with an added cost like a car will benefit you greatly.
- Claiming Government Benefits
Apart from the Seniors Discount Card, the Australian government provides a wide array of benefits to its senior citizens. If you are 66 above, meet the assets and income criteria, and have lived in Australia for at least ten days, you will be eligible for an Age Pension. Simultaneously, healthcare benefits such as Medicare and PBS safety nets, which reduce how much you pay for doctor visits and medicines after you have spent a certain amount, will save you money.
Conclusively life for Senior Citizens in Australia isn’t as difficult as it would be in most countries. The government has established a wide array of plans to help senior citizens live a comfortable life. Alongside the ways of saving money as a senior citizen in Australia, there are multiple other methods one can look for.