by Catherine Rein
(last updated April 27, 2012)
As prices of food, gasoline, clothing, medical services, and prescription medications rapidly go up, it can be challenging for persons living on a fixed income to keep up. Here are some things to consider if you are struggling to live on a fixed income:
The easiest way to save money is to make it a priority. When your paycheck comes in at the first of the month, your first payment should be to your savings account. Don't wait until the end of the month and try to save what is left.
Some retired persons are stretching their dollars by moving to areas of the country (and outside the country) where it's cheaper to live. The U.S. Embassy estimated in 2001 there were over 600,000 Americans living in Mexico and that number is estimated to now exceed a million. There are also large numbers of retirees living in Panama, Costa Rica, and Argentina.
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