| If you watch Dave Ramsey or Suze Orman on | | | | can have it for unplanned expenses. You should be |
| television you will see them tell people how to get | | | | trying to avoid using credit cards and the emergency |
| out of debt and what they need to do to become | | | | fund will do that. |
| financially stable. Have you looked at your own | | | | The next thing you want to do is begin paying off |
| financial portfolio to see what your future will look | | | | consumer debt. Consumer debt is the worst thing |
| like as you approach your 60s and 70s? Will you still | | | | you can have. It has a high interest rate and it |
| be working past traditional retirement age? And if | | | | basically steals your dreams if you are carrying |
| you are, there is nothing wrong with that if it is your | | | | balances. If you have a lot of it, you may want to |
| choice. Are you counting on Social Security and if so, | | | | look into consumer credit counseling. If you are going |
| what percentage of your retirement income will it | | | | to pay it on your own, you are going to want to get |
| make up? | | | | those interest rates as low as possible either by |
| No matter what you age or how much you have | | | | asking the lender to lower them or to transfer the |
| saved, it is not too late to put a plan in place for | | | | balance to a credit card with a lower interest rate. |
| your future. Things can look really bleak, but as long | | | | Aim for having this debt paid off in 3 years or less. |
| as you do not give up and are motivated to do what | | | | Once you have reached that point, it is time to work |
| it takes you can live out your dream. You have to | | | | on am emergency fund of 6-8 months of expenses. |
| take a look at your situation as a whole and follow | | | | This is what will sustain you if you become |
| the steps to reach your goal. It is going to take time, | | | | unemployed or are unable to work for one reason or |
| but as long as you do not delay you will eventually | | | | another. After this is complete, the stress of financial |
| get where you want to be. | | | | instability should be gone for the most part. After |
| The first thing you need to do is get any financial | | | | that comes saving for retirement. How much you |
| obligations that are not paid current, up to date. | | | | need to save depends on how old you are and how |
| There is nothing more stressful than collection calls | | | | much you already have saved. Paying off your house |
| and past due notices. Once everything is current, you | | | | should be a priority at this point also. |
| need to get $1,000 safely tucked away so that you | | | | |