Did you know that the average Social Security check in 2021 was $1,437? That’s hardly enough to get by for retirees who are on Social Security!
You can’t rely on Social Security alone to pay all of your bills every month. You have to take advantage of discounts and special offers when they are available to you.
But where do you find special discounts and offers that can save you thousands a year? It can be overwhelming going through the countless offers to see if you qualify for them.
So to save senior citizens time and effort, we’ve listed the top 24 opportunities for people over age 50 to save big in 2022. Whether it’s saving money on groceries every week, or lowering your mortgage bill every month, we’ve got you covered. Use this guide to see how much you could save! Don’t be surprised if you haven’t seen some of these before!
1. Big Energy Benefit Available For Those In Need
The Low Income Home Energy Assistance Program (LIHEAP) assists eligible low-income households with their heating and cooling energy costs, bill payment assistance, energy crisis assistance, weatherization and energy-related home repairs. To be eligible for this benefit program, you must need financial assistance with home energy costs.
A person who participates or has family members who participate in certain other benefit programs, such as SNAP, SSI, TANF, may be automatically eligible.
2. Get Help Buying Food With SNAP
SNAP helps you buy the food you need for good health and nutrition. With SNAP, you get benefits on a special debit card on a monthly basis. You can use the card to get food at many grocery stores, as well as through some senior centers or home-delivered meal programs. Also, SNAP has free programs to help with healthy eating habits and physical activity.
3. Born Before 1967? Get $3,600/year Off Your Mortgage With The Federal Reserve Bank’s Lucrative Rate “Push Down” Initiative
Banks Don’t Want Homeowners Knowing This
Still unknown to many is a brilliant mortgage plan called the Rate and Term Option (RaTO) that could benefit millions of Americans and reduce their payments by as much as $3,600 per year! You could bet the banks aren’t too thrilled about losing all that profit and might secretly hope homeowners don’t find out before the rules change.
So while the banks happily wait for interest rates to skyrocket, experts are making a nationwide push and urging homeowners to take advantage. This program currently exists as of February, but the rules could change soon. But the good news is that once you’re in, you’re in. If lowering your monthly payments or paying off your mortgage faster sounds good to you, it’s vital you act now and see if you could qualify for RaTO or a better rate in today’s marketplace.
Article reference: https://article.iloveretirement.com