How seniors can save money in an economic downturn

Lisa Wurth

August 27, 2010

Bill Kalmar, writing for, recently discussed a few practical options that seniors feeling the pressure of the recession have if they want to save money in the coming years.

Kalmar suggests that one way to live frugally is to call companies to see if you can find a lower price on services. Cable television providers can generally be convinced to lower their price if a customer says that another carrier is cheaper.

Seniors are often entitled to deals that companies do not openly disclose. This applies to utilities and home, vehicle and health insurance. Simply calling these providers and asking about discounts can lead to surprising results.

Financial perks are also offered to those who say that they want to cancel a service – whether it’s television, credit card or a subscription and, according to Kalmar, just threatening to cancel can lead to benefits.

Another effective way to save money is to reduce the amount of time spent in the hospital on unnecessary visits or stays. Having a medical alert system in place can ensure that seniors have a way to communicate with family or doctors in case of an emergency, which may save money on paramedics and consultations.