Seniors

50 Ways to Love Your Money - Managing Debt

  • Don't Wait, Find
    Your Debt Comfort Zone

    If you're in debt, you're not alone. Consumer debt in America is at an all-time high. It's important that everyone know their own "debt comfort zone" and understand that it can change at different times during your life. It's especially important to take responsibility for our money as we face life events like: retirement; caregiving for elderly loved ones and spouses; and changes in our own health and abilities.

    No one wants to be retired and deep in debt. There are some basic steps to help motivate you. You may be scared or overwhelmed. That's natural. But don't wait. Taking charge of your finances will make you feel better — you'll have less worry and anxiety.

  • #31 Admit the Problem

    If you feel deep in debt, admitting it may be difficult but it's important to tackle any problem early before it gets out of control.

  • #32 Write it Out

    Do you actually know how much debt you have?

  • #33 Think Three Years

    Reducing debt is like losing weight.

  • #34 Cut and Heal Spending

    The best way to save money is to stop spending it.

  • #35 Just Walk Away

    You don't have to add to your debt load with additional purchases.

  • #36 Bring in More

    If you can reduce spending, you can also bring in more money.

  • #37 Ask for Help

    If you're in over your head and having a hard time making changes, get help.