DENVER — Rising costs of everything from groceries to utilities to cars have been dominating headlines for months now, in part due to new tariffs. Denver7 is listening to your concerns about what this might mean for you.
We received this question from a Denver7 viewer named Cathryn, asking:
How are the tariffs going to affect seniors on a fixed income?
If certain tariff policies remain in effect, experts say it could mean anyone could pay more for produce, car repairs and home improvements, just to name a few things.
Denver7 spoke with Sarah Haertl from Colorado Credit Union about ways to save money. Haertl said the first step is to look over your budget and prioritize anything that's essential.
"Cutting even little expenses, such as streaming services, limiting the number of times that you go out to eat, all of those changes can actually make a big difference," Haertl said.
Sometimes it's not the day-to-day expenses that put you in a financial bind. Haertl said one of the biggest burdens she sees for senior citizens, in particular, is unexpected medical bills. Haertl said if that happens, you can reach out to the health care provider to try to set up a payment plan.
"See if there are any options that they can do to help you out," Haertl suggested. "So you don't get in a situation where it becomes a bigger issue."
If you need to, you can also ask your bank or credit union for a loan, according to Haertl. She also said banks and credit unions often offer budget calculators and one-on-one financial counseling that can help you, whether you're on a fixed income or not.
Denver7 has also shared steps you can take to manage a budget and save money, both on everyday purchases and bigger ticket items. You can find that related prior coverage below:
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