Workshop on frugality at a Senior Center

[Bbqmustache]

I have been asked to put together an hour long senor workshop at a local senior center.  I know I will talk about cash flow planning, sinking funds, and some grocery frugal tips.

What other topics or ideas could I provide this audience?  I would be grateful for any and all help.


Thanks!

[Dee18]

Transportation is often a big issue for seniors so perhaps you could find out about low cost options for seniors in your community.

[former player]

If you have seniors attending a frugality workshop, you already know that 1) they are relatively old and 2) they may have money issues.  You can probably extrapolate two further likely issues - 1) they may have health issues, and 2) they may be socially isolated.

Because you are doing this at a senior centre, I would talk to the people running the centre to see what they can offer or you can set up in the way of follow-up groups.  The two most obviously mustachian things which you could do are setting up a group to encourage biking for frugality and exercise (starting group rides would create confidence around safety issues, and using trikes rather than bikes could get more people involved) and setting up another group to encourage cooking healthy meals from scratch, eg with recipe sharing.

[Bbqmustache]

Thank you folks! 

recommended places to find frugally priced adult trikes?  I am seeing $350-$450 being the norm at the vendors I have found.

This senior center is a busy one, with exercise classes galore.  The thought of a bike gang formation or cooking for frugality (large batch cooking/freezing, buying in bulk etc) are neat ideas!

[Trudie]

I would offer tips on managing prescription costs --  a big issue for seniors.  Maybe talk to a pharmacist and get some safe tips.  Other than generic meds, one good tip is to get pills double the dosage, then cut them in half (commonly used tactic).  In general, any information (senior health insurance program) you can provide about Medicare supplement and differences in the policies is helpful.

I don't know much about how these programs work and it's different in every community but I would find out about nutrition voucher programs for seniors.  Our community offers vouchers that can be used to buy fresh veg at the farmer's market.

Also, many communities provide volunteer tax assistance for seniors -- often through the public library.  I would find out what resources are available for them to get help in maximizing their credits and deductions and getting taxes done in the proper way.  What some seniors pay to have their taxes done is ridiculous, especially in simple situations.  But, on the other hand, sometimes NOT doing the frugal thing and having it be someone else's problem is a relief (spoken to through personal experience.  I am also a CPA.)

I would strongly suggest inviting others with expertise in these different areas to be part of your presentation and doing it as a panel.  That way, it takes the burden off you to be "expert" in everything.

It sounds like a worthwhile project.

[MrsPete]

Sounds a bit like coals to Newcaster. 

I'd focus on community resources available to the elderly:
- Meals on Wheels
- Transportation
- Delivery of prescription drugs
- Senior citizen social programs at various places

and whatever else your community offers. 

[Bbqmustache]

Dear Mrs. Pete,

    Thank you for the suggestions, this robust senior center provides all that information and more, that's my challenge.  I need to bring some new mustachian ideas to this audience!

[Bbqmustache]

Dear Trudy,

    Thanks bunches; the idea of a panel of experts had not occurred to me.  Thank you also for the other ideas!

  As I put this workshop together, I pledge to post progress, and maybe pictures from the event.  Dates not yet set, but center has confirmed that workshop is happening.

[MrsPete]

Okay, if you're assigned this topic, I suggest you begin by polling them on where their money-problems lie. 

For example, my grandmother received a lunch 5 Xs a week from Meals on Wheels; with her small appetite, it was usually enough to feed her for lunch AND dinner.  Plus family members took her out to lunch at least twice a week; thus, she usually had leftovers of some sort.  Realistically, she only had to spend for her breakfast meals; when I took her shopping, her bill was always small.  So she wouldn't have valued help on saving at the grocery store -- but you, the speaker, might not know that.

So ask where they need help with money, then design your program towards their needs. 

[Bbqmustache]

Wow, I sent the director of the center two alternative ideas; cash flow planning and frugality (mustachian) tips.  She emailed me back on Friday and wants me to do both of them in two separate sessions.  December and January.  Mustachian tips for seniors, anyone?  They already have county and state information on the various programs, credits and so forth.  Director shot down the idea of bringing in another expert, ie: from the Dept of Aging.

   So far, bike (or trike) ideas, some grocery shopping tips, sinking funds are what I have.

[Goldielocks]

Utilities...  Seniors here blast the heat because they are cold all the time.

Talk about going to public places during the day, using (safe) heated blankets at night or at the TV.  Do the calc with electric costs.

Meal planning and entertainment tips.  Eg go out for breakfast or coffee, not dinner.
How to cook for one on a budget with low cooking skills, get help loading freezer with quick to reheat tasty meals.

Look at incontinence product alternatives.  Very expensive!!  Diabetic or osteomety supplies.

What about a photo montage of you shopping at the local thrift store?  Bring in your purchases of like new items that can be Christmas gifts...

Make a financial plan to help protect yourself from scams.  Cost effective chequing and investment accounts, who offers the best deals in your area ...  Who is most expensive.  How to find.  Ditto for home insurance.

[MayDay]

One thing that really interests me is how seniors lose their cognitive ability to manage money before other signs of mental impairment are noticable. 

You might address as part of cash flow planning, how to simplify their accounts and make it really easy to manage, and how to pass that info on to a trusted friend or family member as the back-up to help monitor it, setting up a summary folder of all their account info, to catch things that might be red flags for being taken advantage of.

You might cover stuff like phishing schemes- the "IRS" just called me and told me they were filing a lawsuit and to call them back at such and such number.  etc.