Budgets Archives - FirstLantic Blog

Seven Tips for Seniors Battling Inflation

Patricia Neuray2022-12-19T21:10:00-05:00August 8th, 2022|Categories: #Stress, Budgets, Inflation, Retirement, Seniors|Tags: #FirstLanticHealthcare, #homecare, #HomeCompanions, #HomeHealthcare, #Inflation, #Seniors, #Stress|

Inflation is creating difficulties for people globally, but it can create an even more significant hardship for seniors on fixed incomes. There are over 56 million Americans that are 65 years of age and older, and about 12 percent of them live solely on Social Security, which pays an average of $1,658 per month. While payments have increased by 5.9% to account for cost-of-living adjustments, the U.S. Bureau of Labor Statistics reports that the consumer price index jumped 8.3% year-over-year in April. So, if you are a senior living on a fixed income, what can you do to adjust your lifestyle until inflation gets under control? FirstLantic offers five tips that you can put into action today. Consider getting a roommate. While you may [...]

How to Get Your Finances Back on Track After the Holidays

The Grinch may not have stolen Christmas, but it might feel like he stole your wallet! Research shows that the average American will spend $835.00 on gifts this year, and that does not include the extras like decorations, food, and of course, the blinking sweater. So, if you are starting to panic about January, read on as FirstLantic (with help from NerdWallet) has some great tips for getting back your financial footing after the holidays. Stay positive Recognize that you can get back on track if you have a plan and stick to it. The most important thing is to act. Don’t bury your head in the sand and think the money will fall from the sky (although it would be nice if [...]