One of the new rules of retiring is to keep working after retirement. Many of us will continue to work because we want to. But a lot of us older folks will have no choice except to keep working to pay the bills.
Look at all the things that we go into debt for, house payments, rent, transportation, utilities and insurance. Then throw in the volatility of the economy and the uncertainties with our savings plans and we come to the scary realization that we really are not all that secure in our retirement. It is no wonder that we get stressed out!
One of the real problems is that a bunch of us will retire with a lot of credit card debt and will have no idea about how to fix the situation. Debt is something that we have learned to live with and also something that wastes a very large chunk of our retirement income.
So, the question is “How do we reduce our debt to increase our standard of living?”
There are millions of websites that have the answers and everybody has an opinion. But unfortunately, none of the answers are easy and all of them take some sacrifice. When we tighten our belts to get out of debt, there is always some pain involved. The trick is to minimize the pain by finding a way that suits our personal situation.
When we start working on debt elimination, we should keep several things in mind. One is that we should start paying hard cash for things to limit our expenditures and another is that we need to have enough money set aside for living expenses and for emergencies. The easiest way to get money for emergencies is to use plastic credit cards. Credit cards are also the most expensive and difficult to pay off.
Credit card debt is usually the one that most people want to pay off or down. But to do that requires a plan and discipline to work the plan. Some people have included debt consolidation loans or used the equity in their homes to reduce debt. Without discipline, this turns into a short-term solution and the credit card debt just piles up again.
So, most of us need some help in managing our credit card debt. Most of all, we need to learn how to manage our debt. That is something that is usually not taught in school. Then we need to find out how to make a plan to find out where we are actually save money on our everyday expenses and work the plan to annihilate our credit card debt to break the vicious cycle of debt.
It turns out that most people get into credit card trouble because they were never taught how to manager their credit cards. For that matter, very few of us get any training on how to manage our finances until we get to the point where we are in trouble.
Most of us can use a little help and advice when it comes to getting out of debt without going deeper in debt. I’ve put together a series of e-books called “The Financial Series“, that offer some of the best tips available to help reduce credit card debt and cut expenses. If you want some good information at a very low cost, check it out. Find out how you can get serious results in eliminating credit card debt, cutting expenses and living a better life.
CLICK HERE and check it out. Follow these tips and your results could be priceless.