How to Budget for Medical Alert System Costs

Budgeting With Alert1

A medical alert system is a service that incurs a monthly cost. Foregoing this type of emergency safeguard is never an option, but we understand that taking on an additional expense can be difficult. Budgeting is hard for everyone, but fixed income exacerbates the difficulty. Elderly folks tend to rely on social security benefits and savings accounts to make ends meet, which means cutting corners can be especially tough for this demographic. The AARP even has a worksheet devoted to budgeting for senior lifestyles.

Even if a parent, grandparent, or spouse has amassed a significant savings account, these funds must be carefully managed. Luckily, there are several steps you and your loved ones can take to save money on daily expenses. Many of these strategies can be used to both free up funds for a medical alert system and, more importantly, make your money go farther to meet your needs. Plus, devices from Alert1 are available for less than typical costs for Life Alert, making us a more budget-friendly option.

Easy Budgeting Tips for Seniors and their Families

Creating a financial system is an important part of budgeting for yourself or a loved one. But while preparing an expense worksheet or managing a loved one’s finances can curb spending, you’ll need to first identify where there are savings to be had. Below, we’ve listed some common cost-cutting techniques both seniors and their families can employ.

  • Understand your health insurance Some seniors pay for health care that doesn’t match their needs. In some cases, this can lead to overspending on health services rarely or never used. We recommend contacting a Medicare agent to help understand whether you should make changes to your coverage.
  • Cut your transportation expenses – While elderly folks may own cars, few use them to commute to a job. In many cases, the frequency with which cars are used does not justify the cost. Car ownership is expensive, whether you drive frequently or infrequently, so reassess your driving habits. Many senior living facilities offer shuttle services to nearby attractions, and seniors living in more urban areas can benefit from public transportation and walkability.
  • Research financial resources and programs Elderly homeowners may be eligible for certain savings benefits and property tax decreases. To find out if your state has a program like this, visit the federal government’s benefits portal to understand which resources you have available.
  • Favor debit over credit Mounting credit card debt affects people of all ages. If this high-interest debt is a problem for your loved one, talk to them about switching to a debit card. This will provide them access to a finite amount of money and reduce the risk of incurring debt.

Cut Corners Without Cutting Care

Man Holding Piggy Bank

While there are certain strategies seniors can employ to save money on everyday expenses, one service should always remain: a medical alert system. This invaluable tool should be an indispensable part of every senior’s budget. Medical alert systems, like those provided by Alert1, can save lives by quickly and efficiently alerting emergency response services to a medical emergency.

Medical alert systems from Alert1 are competitively priced, which means they are less expensive than average Life Alert costs. And, while Alert1 systems are not a cost-cutting tool, they’re a recurring expense that you and your elderly parent can feel good about.