The Cottages Blog

Help Your Senior Mom Save Money As She Ages

Posted by Dawn Owens on Mar 24, 2017 9:00:00 AM


As Mom ages, the cost of her care can go up. To make sure that she is taken care of well into her golden years, it’s wise for her to continue to save money as she ages. Here are some ways you can help your senior mom save money now and in the future.

Use Cash

Instead of using a credit card when she goes to the store, have your senior mom take only the cash that she will need to buy her groceries. If she leaves home with only the amount of cash that she needs, she won’t be able to overspend. In order for this change to be successful, Mom will need to plan out her grocery list ahead of time and have a general idea of the prices for each item that she needs. Moving from credit cards to cash can take time and effort, but you can help make the process faster and easier if you and Mom learn it together.

Take Advantage of Discounts and Coupons

When Mom is out, always make sure she asks for and is given a senior discount. Many places even offer special discounts for seniors on top of a regular discounted rate. And don’t hesitate to ask about other discounts as well. Sometimes, promotional discounts that you don’t know about are available. One of the best ways to get a discount is to create your own. Spend an afternoon helping Mom clip and print coupons. Encourage Mom to start a coupon-clipping club with her friends, or if she’s tech-savvy, help her join an online couponing community.

Wait Before Buying

Mom doesn’t have to limit herself to just the necessities if she’s trying to save money. Buying a little something extra for yourself can help boost happiness short-term, so tell Mom to splurge occasionally on something fun. Once Mom has decided she’s found a fun item she wants, encourage her to wait one day before purchasing it. Giving yourself 24 hours to think about it can be enough time to change your mind or decide that the splurge purchase is worth it. Limiting yourself to one big item every 30 days is also a great way to avoid overspending on extras.


The thought of sitting down to make a budget can be overwhelming. Like the rest of us, your senior mom has several different daily, weekly, and monthly expenses. At the beginning of creating a budget, all of those expenses can feel impossible to track. The goal of budgeting is to eventually get to where your monthly necessary expenses are less than 50 percent of your income. For help budgeting, consider talking to your financial advisor.



Topics: Senior Care Resources, Advice for Caregivers

Dawn Owens

Written by: Dawn Owens

Dawn has been part of the Cottage family for over 10 years. She comes from a strong background in mental health care, with a certification in crisis intervention. Dawn has two daughters, Alika and Ava. She enjoys walking, scrapbooking, and playing softball.