How Tech Can Help Your Aging Loved Ones Save Money

We all have people we love who are getting older. Maybe it’s a parent or grandparent, or just a friend you’ve looked up to for as long as you can remember. In your mind, they might be perfect, but they might struggle with certain things, including technology.

While it’s easy to let your aging loved ones fall into the stereotypes and tropes surrounding the elderly and tech, you can actually do them a big favor by helping them use tech to their advantage.

It’s no secret that many seniors are on a fixed income and medicare, especially after they’ve retired. While sticking to a strict budget is one of the best ways for them to maintain a comfortable lifestyle, there might be things they can do to save even more money.

That’s where you come in.

By helping your aging loved ones to take advantage of different types of technology, you could save them money each month, and help them to grow their budget and stretch their dollar a bit further. Let’s look at some easy tech examples that could make a big difference.

Invest in Energy-efficient Appliances

It’s not uncommon for older individuals to live in homes with older appliances. Maybe your parents haven’t gotten a new refrigerator since you were a kid, or your grandparents haven’t upgraded their washing machine as long as you’ve been alive.

While new appliances can be an investment, they end up paying for themselves and saving people money in a very short amount of time. According to the U.S. Department of Energy, it’s estimated that the average household can save 25% on their utility bills by switching to energy-efficient appliances. That equates to over $2,000 each year.

If your aging loved ones are on a strict budget, work with them to discuss which appliances need to be updated first. Consider which ones are the oldest, and which ones use the most electricity. The biggest “energy suckers” in the average household are:

• Water heaters;
• Washers and dryers;
• Refrigerators;
• Electric ovens;
• Dishwashers.

Some appliance companies have zero-interest financing options, which can be a great way for someone on a fixed income to pay off a new appliance over time. Do your research, help your loved ones find energy-efficient models that will meet their needs, and watch them light up as their utility bills immediately drop.

Get Smart With Home Devices

It’s estimated that 69% of households in the U.S. have at least one smart device. Household smart devices include everything from clocks and security systems to doorbells and garage door openers.

There are some smart tech devices that will serve double duty when it comes to benefiting the people you love. For example, a smart thermometer is a great way to simplify the heating and cooling processes of your loved one’s home. They can set the thermostat from their phone, no matter where they are, so their home is the ideal temperature whenever they arrive.

This kind of temperature control can help to cut costs on utility bills since they can turn the thermostat down during the day when no one is around.

Smart lighting can be used similarly. By installing light bulbs that respond to controls on an app, your loved ones can make sure the lights are off when they’re not home. They can set timers for interior and exterior lights, and only turn them on when they’ll be entering a specific room. The less light used, the less wasted energy.

Install Better Budget Apps

Building a budget doesn’t necessarily require any technology. However, that doesn’t mean tech can’t make it a lot easier.

Nowadays, phone apps and AI assistants like Alexa have made things a lot easier for seniors who might need some assistance or guidance with their everyday tasks. Some of the best tech benefits for older individuals include:

• Remote medical monitoring;
• GPS services;
• Medication assistance;
• Cameras.

There are also plenty of apps specifically designed to keep track of financial information and budgeting. You can help your loved ones set up these apps, so they’ll have a clear picture of their financial situation. Many apps, like Mint and Goodbudget, make it easy to see where someone’s money is being spent each month, and how they can cut back and save more. You can even be a part of your loved one’s account with their permission, so you can keep track of their finances and spending habits, too.

These ideas are just the tip of the iceberg when it comes to utilizing technology for your loved ones’ benefit. Don’t let them fall into the stereotypes of seniors and the digital world. With your help, those you love can use technology to its full potential to improve their quality of life, save money, and make it easier to live out their retirement years without worrying so much about a fixed income.

Photo Credit

Photo by Centre for Ageing Better on Unsplash

Guest Author Bio
Jori Hamilton

Jori Hamilton is a writer and journalist from the Pacific Northwest who covers social justice issues, healthcare, and politics. You can follow her work on twitter @HamiltonJori, and through her portfolio at Writer Jori Hamilton.

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