Due to rising prices, inflation, and the likelihood of a recession, older Americans must tighten their belts. This is especially true for seniors living on limited incomes after retirement. Americans pay $429.33 per month for their utility bills, so this is an excellent place to save money.
Of course, that’s easier said than done. According to CBS News’ price tracker, electricity costs have increased from $0.14 per kilowatt hour in 2019 to $0.18 per kilowatt hour by 2024, equivalent to a 28.5 percent increase.
