How The Elderly Can Build Their Wealth

The Dutch government encourages seniors to live independently for as long as possible, which means the elderly have to rely on and manage their own finances and survive with the support of friends and family. For the elderly, managing their own personal finances provides a great sense of achievement. Just think about how you feel when you check your bank statement and see that it’s grown by a few hundred euros. That feeling can really brighten an elderly individual’s day and their additional funds can be utilised for getting to and in senior-friendly activities and outings in the community, which is a great way for an expat to integrate into the Dutch society and way of living.

Shop smart

Shopping is something we all have to do and there are simple tricks that the elderly can do to ensure they keep the cost of their shop down. Writing and sticking to a shopping list is a great way to keep the cost of your shop down. In addition to this, look out for money off vouchers and coupons in local magazines and newspapers, such as Haarlems Dagblad and remember to take these with you when you head to the shop.

Too often, the elderly are throwing unwanted or out of date food produce away, simply because they can not get through it all. To overcome this, you could shop with your friends and share items, such as splitting fresh vegetables and chopping them in half.

Bills

A fair amount of anyone’s income goes towards monthly bills. However, you can cut the cost of many of your bills and slowly but surely build your wealth by shopping around for better deals. Look to switch energy suppliers, bank account providers, insurance firms and monitor the amount of water you use as well as your energy usage. By taking these steps, you should instantly notice a healthier end of the month bank balance.

Get online

There are so many ways you can grow your wealth online and as the Netherlands is home to a vast number of internet savvy seniors, now is the perfect time to look at how to save and make money by using technology. Some great ways include completing online surveys, seeking out discount vouchers, selling items on auction sites and creating a blog or website and using affiliate links to bring in a passive income.

The elderly generation can substantially benefit from building and monitoring their personal finances and doing so will help provide security and wealth in later life.