The global financial crisis has indeed left many Americans struggling to regain financial footing—seniors included. And while most of us are still trying to find our way out, glad to say that with creativity and will power, some of us manage to have a little more than what is needed to make the ends meet. It may not be big enough to cover all of our retirement days but surely enough to tide us over for the mean time.
Nonetheless, it is important for seniors to be financially healthy. Why? One, being penniless is stressful. Two, you need money to make sure you’ll be taken care of as your health declines. Three, your physical health causes money too and four, having enough money allows you to live conveniently. Let face it, nothing is free nowadays.
Improving your financial health need not be a pain. Here are some helpful tips to achieve better financial health and do without financial stress today:
• Always think of the brighter side. Granted, those bills won’t just magically disappear but dealing with them negatively will only worsen your situation. Instead of allowing yourself to get tired of paying bills, think of how “better” your situation is than half of your population who can’t even afford to pay their meals.
• Never go for a quick-fix. A loan may answer your doubts and debts quickly but it can also hurt you in the long run. Just think about this, a loan still needs to be paid and the only thing a loan can do for you is buy you some more time. Instead, think of something you can do which can bring in some money without having to tie you up into something in the future, like a part time job or perhaps a small, homegrown business.
• Tackle financial problems by priority. Like I said, your bills won’t just go away. They need to be paid. However, paying need not be all-at-once. If there’s a shortage, pay first those that may bring trouble, like credit card bills and loans. Then tackle those you need in order to live like a human such as electricity bills, etc..
• Set reasonable goals. Goals can make you focus on those you need to deal with immediately but, having too many goals will only leave you distracted as ever. If you love your sanity and would like to keep it, set reasonable goals you can meet without exerting too much effort.
• Keep an eye on those rates. In all honesty, it’s the rates that make it hard for a normal person like us to pay all our debts easily. If you are not careful and a number-dizzy like me, you’ll end up paying double or even triple the principal amount you borrowed.
