9/8/2023 0 Comments Lower monthly expenses![]() The service fee could be from $0-$500, according to The Truth About Mortgage. Keep in mind, of course, that a longer term means you’ll have to pay more in interest over time. Re-amortization means that you pay a lump sum upfront - usually $5,000 minimum - to have your lender extend the term of your loan, thereby lowering the monthly payments. For starters, you can always re-amortize, aka recast. You might think that your mortgage is a fixed payment that you’re locked into, but there are ways to save money on this hefty monthly expense. Medicaid is specifically geared toward low-income seniors and covers both in-home and nursing facility services. ![]() ![]() Medicare or Medicaid can also help mitigate the costs of senior care. There are also housing programs for people of certain religions, veterans and Masons. Department of Housing and Urban Development (HUD) programs that help seniors and people with disabilities find affordable housing. If the senior care needed is extensive, consider U.S. If you or your loved one are independent enough, it might be a matter of downsizing to a smaller, more manageable place where the costs aren’t as high. There are numerous options available, including adult day care, in-home care, assisted living and skilled nursing. So, the first step to save money on senior care is to honestly evaluate yourself or your loved one. For instance, a private room at a nursing home costs about $8,821 a month on average, whereas companion care - aka homemaker services - costs about $4,481 monthly. Prices for senior care in some locations are outpacing the rate of inflation, according to Genworth. Skip the expensive store-bought toys and go the DIY route instead.Īverage monthly spending: $1,603-$8,821, depending on type of care.Adopt, don’t shop - the cost to adopt from a local shelter and save an animal’s life is significantly cheaper than buying one from a breeder or store.You can also try sites like Rover that allow you to compare prices of care providers in your area. Ask friends and family members to pet-sit when you’re away.It takes time, a little elbow grease and pet cleaning products, but the savings can really add up - especially for long-haired pets that require regular maintenance. ![]() Consider grooming your pets on your own.According to a Forbes Advisor analysis, the average cost for dog pet insurance runs about $300 per year for $5,000 in coverage, whereas you can get unlimited coverage for $420 per year.Or, at least build an emergency fund - if you don’t end up needing the money for your pet, it’s still yours to keep. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |