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Money Matters in Later Life

In later life, you may start to have new entitlements, additional costs and need information money matters you have not come across before. 

Review your budget – as you retire your income will probably be less. Some costs will reduce as you won’t be commuting, but cost such as heating will increase if you are spending more time at home. You may have more time to do the things you want to, but if you have a fixed income you cannot splash out and earn money to cover the cost later. Our Money Matters guide includes a budget template you can try.

Look after yourself - If you can afford to, heat your home to reduce the risk of heart attack, stroke and premature death, replace damaged carpets which increase your risk of falls and have repairs to gas and electrical equipment carried out properly.

Find out about help with care costs – see our guides Care at Home: Assessment and Funding and Care Home Guide: Funding

Care at Home: Assessment and Funding

Care Home Guide: Funding

Find out about help with health costs - Many health costs, such as prescriptions, eye tests and dental check-ups are free in Scotland: if you have a low income you may also qualify for help with items such as glasses, wigs and travelling to hospital.

Find out about help with travel costs -

  • If you are 60 or over, or are assessed by the National Entitlement Card scheme to be a disabled person, you qualify for free Scotland-wide bus travel. Find out more from Transport Scotland.
  • The Blue Badge Scheme helps people with restricted mobility to park close to where they need to be.
  • You can buy a Senior Railcard to reduce the cost of some rail fares if you are 60 or over. Scotrail also has regular offers for older people.
  • See if you qualify for help with your TV licence – you can find out from TV Licensing here.


The Age Scotland Helpline

Our free 0800 12 44 222 helpline is a free, confidential phone service for older people, their carers and families in Scotland. Lines are open Monday to Friday 9am - 5pm.

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