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Can I Get a Debt Consolidation Loan?

Do You Have to Have Good Credit to Get a Debt Consolidation Loan?

If you're struggling to pay off your debts and can't find a good way to increase your income, you may be thinking about finding relief by other means. As you probably know, there's an entire industry that's devoted to helping folks pay down their consumer debts in a timely fashion. A significant amount of the activity that occurs in this industry involves a practice known as debt consolidation lending.

Debt consolidation loans are large loans that may carry relatively low interest rates. They are ideal for borrowers who carry large amounts of credit card debt. Debt consolidation loans enable these borrowers to pay off their high-interest debts and may dramatically simplify their debt payments.debt consolidation loan application form.

True to the "consolidation" in their name, debt consolidation loans are designed to reduce the number of monthly debt payments that a struggling borrower must make. Instead of 12 outstanding credit card bills, a credit card consolidation borrower only has to worry about making a single larger payment to his or her lender.

If you're behind on your credit card payments, you may be wondering whether you have to have good credit to obtain a consolidation loan. Unless you've been very lucky, your credit score is probably not as solid as you would like it to be. You might have a justified worry that you'll be unable to secure approval for your loan.

It would be ironic if you were unable to secure a credit consolidation loan as a result of your poor credit profile. After all, consolidation loans are designed to help borrowers who struggle with large amounts of credit card debt. Most such borrowers have less-than-ideal credit scores. Debt consolidation lenders that adhered to strict credit-score standards when screening borrowers would be cutting out a significant portion of their "target" clientele.

For this reason, it's possible to get a debt consolidation loan with bad credit. Many debt consolidation lenders are willing to issue loans to distressed borrowers. Unfortunately, such loans typically come with some problematic drawbacks.

High interest rates are one of these drawbacks. Whereas "prime" borrowers may be able to secure low-interest consolidation loans, borrowers who have poor or mediocre credit may have to pay through the nose for their loans.

Even in this low-rate environment, it's not uncommon for lenders to charge annual interest rates of 15, 20 or even 25 percent on their sub-prime loans. This might substantially raise your borrowing costs and negate any of your loan's potential savings. If you can't save at least 5 percent on your outstanding debts with a consolidation loan, this course of action may not be worth the hassle.

The potential need to collateralize these loans is another serious drawback. Although each lender's policy is slightly different, many may require you to put up some collateral as a condition of your loan. This could take the form of a car, house or other valuable asset. If you become unable to make the payments on your loan, this asset could be subject to seizure.

The prospect of doing further credit-score damage is a final weakness. Since these credit facilities are so large, the monthly payments on credit card consolidation loans can be massive. If you fall behind on your loan or become unable to make your payments at all, you run the risk of a credit-damaging default.

Once you default on your loan, your credit score will drop precipitously. In turn, this will make it difficult for you to take out another loan. Even if you can find a lender that's willing to approve your application, your new loan would probably carry a far higher interest rate than your original credit facility.

Before you take out a debt consolidation loan, you'll want to consider all of the credit relief options available to you. Although you may be able to secure a loan with a poor credit score, there are certain risks associated with this course of action. In the end, you're the only person who's capable of determining how best to tackle your unsecured debt burden.

by Lacie Kehm

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Summer Budget Tips To Help You Stay Out Of Debt

Summer Budget Tips To Help You Stay Out Of DebtOne of the things a lot of people are looking into at the moment are summer budget tips to help them get through the season with their finances intact. It is so easy to lose your way during summer when it comes to spending. After being holed up at home with layers of clothes to feel warm, the sun finally comes out giving you the freedom to go out and have some fun.

If you let it get to you, you can start to pile up expenses and purchases left and right putting your finances in peril and even drowning you in debt. You need to manage your expenses and spending so your finances do not burn up during summer. The last thing you need is your account balance emptying out in the middle of summer.

You might think that summer is just for kids as they get a break from school and it is up to you to come up with activities to keep them busy. However, you need to look into summer budget tips also for yourself. Sumer is a social time with family and friends and you can easily lose control of your spending during this season.

A quick vacation to a nice exotic beach, a weekend in a fancy hotel, a road trip with no destination in mind can be some of the activities you have in mind. If you put all these together, you could be spending a lot of money. This amount could have been used to save for the kid’s college tuition or even to pay off a part of the principal in your mortgage loan. If you want to enjoy summer but still keep your finances in good shape, here are a few of the things you can do.

Have a summer budget

When dealing with your finances, the first thing you need is a plan. This is one of the important summer budget tips because you need to have this before you take on summer activities. You need to plan for whatever activities you want to do. As you plan them out, list them down and assign a concrete dollar amount to it as the budget.

As you do this, you will have an overview of how much you need for summer activities. If you are planning for a vacation ahead, you need to conduct due diligence on your trip. It is a good idea to research the place you are going to, what attractions are near it, and the best places to visit other than those being offered to tourists. It can show you competitive rates and you will be able to lay out a clear budget for the trip.

Create a realistic budget

Creating a budget is one thing and creating a realistic summer budget is another. Do not try and guess those expenses in a travel or an activity. You also have to include all aspects of the trip from the travel to accommodation, entrance fee to attractions, and even tips. You need to have that in your budget to give you a realistic expense total.

Schedule family meals with other families

This is a nice activity you can do with families whom you are close with. You can schedule lunch or dinner hosting every week. A different family plays host every weekend so you only get to feed a lot of people once a month and get three free ones in return if you are working with 4 families. Not only will this help you save money it also gives you the chance to get to know other people as well. You may even love some of the food and if you are lucky to come home with the recipe.

Host weekly summer camp

This is another one of the summer budget tips you can consider especially if you love kids and you know other parents who feel the same way. Same as the family meal, you schedule activities with the kids either at home or a park near your place. The next time around, you might get to enjoy some peace and quiet as your kids spend time with another guardian.

Start saving money at home

One of the expenses that spike up during the summer season is your utility expense. You may not be able to help it when you start to lower down your AC to battle the heat. However, there are a few things you can look into to get a hold of your utility expenses. You may not be able to do anything with your AC but you can try and just keep the room temperature cool and not blast cold air out it. This is can be helpful at night when it is a lot cooler.

You can also look at cutting down on your dishwasher use. For one, use it only when it is fully loaded. You use the same amount of water and electricity regardless if you ut in a few dishes or the if you fill it up. Another thing you can look at is to unplug appliances you are not using. Even if they are turned on, plugged in appliances still use electricity on standby mode. You can also make use of the heat and air dry your clothes. Not only will you save on electricity from foregoing your dryer, air drying also prolongs the quality of your clothes.

Staycation is fast becoming an option for people

Another one of the summer budget tips you can consider to save money during this time is choosing a vacation close to home. You can check out attractions a few hours away from home, check-in at a local hotel, or even camp out in your own backyard with the kids. Doing this can benefit your finances and still be able to get a break for summer.

Choosing local or nearby places helps your local community and it is a lot more affordable than exotic locations. Choosing to camp in your own backyard gives your children a different activity while at home. Apart from playing game consoles or surfing the net all day, you can create a bonfire and cook marshmallows while swapping stories. Your kids may even open more to you especially your teenagers.

Explore telecommuting for work

If your company allows and offers it, explore the possibility of working from home. You can look into it not only because it is summer but because it saves you a lot of money. The Global Workplace Analytics shares that productivity is not lost when working from home. There is even instance where employees are productive when working from home. This is not just one of the summer budget tips but a career move as well.

Work out at home

If you are paying for a gym membership but hardly get to use it, it is best to start working out at home. During the summer months, there are a lot of people in the gym and the sweat and humidity and hot weather may not be working for you. Try exercises at home where you don’t need weights and just use your body weight. You can look for a place to go for a run or swim which is a good form of exercise.

There are a number of summer budget tips you can choose from to help you enjoy the summer break without going into debt.

Save Money Easier With These 4 Tips

Save Money Easier With These 4 TipsIn almost all financial problems that people face, one of the most common solutions people have is to save money. However, it is not always that simple when it comes to saving money. People have a lot of challenges to hurdle when they start to try and save some funds to improves their finances. For one, most people who are having a lot of financial problems cannot save any more money.

According to CNBC, about 35% of Americans blame the lack of income why they are not saving. It is a difficult situation to try and save some money when you do not have any to spare. However, there are a couple of decisions you can look into to help you turn things around. You can lower down your expenses and even look for ways to earn extra cash.

One other reason why Americans are having a hard time trying to save money is that they do not know how to start with it. It seems easy enough for some people but there are some consumers who do not have an idea where to begin. They may not even know where to put the extra money they have.

Some people would think of putting the money into a normal savings account so they can access it anytime they need to. There are others who prefer to put it in a high yield bank account or even money market funds to earn a little extra while they save up. With all these, the challenge is getting started. If you want to start saving money, here are a few things to think about.

Get into the right state of mind

This has a lot to do with seeing the glass half full when it comes to saving. When you start out, you would need to make some hard decisions in life. It can change the way you do things and put you in a new situation in your life. The idea is to look at the positive side of things and choose to be optimistic about the outcome of your actions.

When you decide that cutting your cable subscription will help you save money, look at the bright side of it. Rather than feel sorry that you will miss some of your movies, think of it as a time to catch up on reading. You may even have the time to start that hobby you wanted to try out but did not have time for. It can also be your chance to start visiting friends and family members and spend dinner with them. You may not be alone when you decide to cut the cord because according to Fast Company, there were about 1.5 million subscribers who ditched cable in 2017.

This is just one example of how the right frame of mind can help you enjoy your money saving approach. If you choose to cut down on dining out, it can give you the chance to learn how to cook. If you give up one car, you can get some exercise when you walk or bike to and from work. There will always be a positive side to things and you just have to choose to look at it.

Pick out concrete goals

When you are trying to save money, one of the things that can help you reach your goal is to have a concrete one to start with. You can always say I am saving money for the future or for the rainy day but you need to be able to visualize that goal. If you are vague about your targets, there is a chance that you might lose your way because you do not know what you need exactly.

When you are saving for your retirement, you need to know exactly how much you need when the time comes. With that concrete dollar figure amount as a goal, you know how much you need to save at present to get to that goal. This is the same with any saving goal that you have because a concrete target gives you better aim. Having that will help you assess your progress as well as you go along.

Make a game as you save money

This is also a great chance to exercise your creativity and make the journey as fun as possible. This can help you reach your goals faster. As you try and lower down your expenses, why not challenge yourself in growing some of your food. If space is a challenge, there are vertical gardens you can put in your living room or on the balcony.  

If you are giving up one car or using it to get to work, try to see how many kilometers you can add to your ride every day. Is there a scenic route you can take? You can bring your camera and snap a few photos. Biking to work is also a great exercise so you can try and see how much you weigh before you started and how much you have lost after a few weeks. This might even keep you going and lead to other exercise and healthy habits.

When it comes to food, you can include the whole family and have a weekend challenge. You can set the budget, split into two teams and have one cook lunch and the other dinner. With the same amount of money for groceries and access to the same cooking equipment at home, each team needs to put together the meal on a budget. This is a great way to save money and spend a lot of time as a family.

The most important things in life are often free

It may sound like something people who have less would cling on to but this statement is true. A lot of people believe that money is the answer to every single problem they have. Some even have this belief that money can solve all their problems in life. They believe that having a lot of funds is the answer to everything.

People are quick to think that if they only have a lot of money, they would not have to get a loan to have a house. They forget that as their kids see how responsible they are in paying for the house, car, saving up for college all while providing for the family is a valuable lesson for the kids. This may not always be the case but this is one way of looking at it.

Forbes even mentioned how some of the best things in life are free. There are times when the happiest people draw their happiness, not from the material things they have obtained over time. They get it from having a nice disposition and outlook in life as well as have inner peace. This may be something coming from self-help books but this is the truth for a lot of happy people.

There are a lot of ways to help you save money easier because the reality is that it is a bit harder than it sounds. It takes a lot of planning and dedication and involves making a lot of hard decisions that will affect your life for a long time. However, sticking to these positive changes while keeping your focus on your goals can help you save the amount you need to improve your finances for your future.

Shoestring Budget And Tips To Stop The Cycle

Shoestring Budget And Tips To Stop The CycleWorking with a shoestring budget is a hard place to be in and all mistakes are magnified when you don’t have much to move around. You are walking on hot water and every single decision is calculated and under the microscope. You barely have enough to make ends meet and when you run short, it cascades down to all areas of your finances.

It is possible that you might not be able to pay a credit card statement at the end of the month when you are short on your food budget. The time might come where you will not pay your car loan because your mortgage loan is more important. It is better to have four walls and a roof over your head compared to living on four wheels.

There will be a lot of sacrifices you have to do when you are running on a shoestring budget. Some financial obligations might be pushed back to give way to other more important areas of your finances. Psychology today shares how psychologist Abraham Maslow has laid out the basic human needs. It starts with the physiological needs such as water and food and everything else is secondary.

Some people may even think of this as a way to fix their budget cutting out the ones they can live without. But still, this is a difficult situation to be in. This becomes a lot harder when you have a family to think of. Their needs multiply while your finances remain the same so you get deeper and deeper into trouble. There are a few ways to help you manage and get out of your financial situation. Here are a few of them worth looking into.

Have a clear understanding of where your money goes

You might think that you do not need a budget when you do not have that much to budget in the first place. Thinking you will just remember everything you spend on will only put you into more trouble. When working with a shoestring budget, you need to account every dollar amount you have at your disposal.

You need to have a very comprehensive budget especially when you are working with limited funds. As you do this, you gain more understanding of how you spend your money. Once that happens, you get to put together a plan on how to move forward. It might seem simple that you just have to earn more money but there are a lot of factors you have to look at.

Once you look at your budget, you might notice that you have been paying for two music streaming apps on your phone. You might even be still subscribed to magazines delivered every month. Your budget could also show that you are spending a lot on cable when you rarely get to watch tv anymore. These costs may look small but when bundled up together, they can make a difference in a limited budget.

Lower expenses can help a shoestring budget

As mentioned earlier, having a budget gives you the chance to look over your expenses and determine which ones you can do away with. You can start with the “wants” you have in your budget and slowly move on to other areas of your budget. This now becomes a balancing act where you need to look at what you need and what you have.

There are also other areas of your finances you need to look into. Your housing situation is one thing especially when you are renting. If rent is less expensive in another area, you might want to consider moving. Of course, this goes without saying that you have to weight all factors such as proximity to your work, the kid’s school, and even how your family has come to love a place.

Transportation can be another area where you can cut down on cost and be able to spend below what you earn. If you are a two-car family, try and do the math when you give up one car and just use one vehicle. You save on gas, maintenance, and even insurance but you have to coordinate schedules to make it work. Explore using the train, bus, or even a bike going to and from work. You get to save money and get some exercise along the way. Fox News even shared how a man decided to row to work just to avoid traffic and even get an exercise along the way. This will not only help you manage a shoestring budget but get you healthy as well.

Look for ways to increase your income

One of the first things that people think about when they have a tight budget is to increase their income. For those with a day job, the most obvious thing to do is to put in a request for overtime work or an additional shift. Then there are those who will take on a second job after their day job just to increase their take-home pay.

There are also a lot of online jobs that you can look into. This can be a lot easier when because you can do it in the comfort of your own home. You can take up writing or editorial jobs at home. If you have the tools and know how you can even create artwork needed by some people. You might even go and edit images online. These are just some of the online jobs you can take up to help you increase your income.

As you try and increase your income, you can also try and use your hobbies for and turn them into income-positive ventures. If you love to bake for families and friends, you can start selling them within your circle or even offer them online. If you love hosting, you can offer your services to venues if they functions and even event organizers.

Start allocating extra money to savings

Once you start lowering your expenses and increasing your income, you will find that you will start to have some extra funds in your budget. The temptation might start to creep in and you lose your way of spending that money on unnecessary purchases. Once you are able to manage your tight budget, you need to make sure that you use extra funds wisely so you prevent going back to having a shoestring budget.

One of the best ways to do this is to save money for future use. It can be for an emergency fund or even for retirement. The important thing is to save up and put the money to good use. Try to remember how hard it was before you had extra funds in your budget. This can help you put your finances in perspective and help you make better financial decisions along the way.

Managing a shoestring budget can be a tough challenge for anyone but there are ways to help manage it and turn things around. You just have to be up to the challenge because you will need to make some tough decisions as you change some areas in your life. You will have to make some hard decisions and give up a few of the things you have gotten used to, However, these can help you move past your current situation and to a better one.

Mental Health Issues And How Your Finances Can Get Affected

Mental Health Issues And How Your Finances Can Get AffectedMental health is one of the most talked about issues at present because it is being linked to a lot of suicides in the country. Suicide is a systemic public health crisis that has gripped the nation’s interest with two high-profile personalities taking their lies. One was fashion icon Kate Spade and more recently, chef and tv personality Anthony Bourdain.

There are a lot of discussions on how mental health issue of people can be best addressed. Various factors also come into play when talking about it and how suicide is fast becoming an option for people with mental problems. The financial crisis in 2008 may still have a lot of people on the edge and even the opioid epidemic is partly to blame for pain reliever addiction in the country. Medical News Today shares that mental well being is the behavioral, cognitive, as well as emotional disposition of a person.

The recent deaths have elevated the talks about mental health and how it affects the lives of people on almost all fronts including their finances. Sudden deaths in the family can put a strain on anyone’s mental, emotional, and financial needs. If it does happen, here are a few things to consider as you go try and pick back up the pieces again.

Deal with what needs to be done

There will be things that need immediate attention when you lose someone from suicide. Try to look and locate financial as well as legal documents they may have left behind. You need to also get a hold of some of their personal belongings such as phone, wallet, and even keys. You may find some important information on their personal belongings.

It is also a good idea to try and find the will if there is any. This usually applies if the person who took their life is a parent or a guardian in a household. This will help the family move forward and be informed of the person’s last wishes. This can be a big help and can prevent fighting among family members.

This will can help those that were left behind even in funeral arrangements. The deceased may have left behind specific instructions on how they want their funeral handled. It can also lay out how the family budget will be and who gets what.

Put off major money decisions for at least a year

It is never easy to lose someone you love. Even with time, the pain never really goes away and you just learn to live with it as you try to live your own life. It is hard to come to terms with death especially when the person committed suicide. Mental health is a serious issue and affects you well after a loved one dies.

This is why it is better to put off any major financial decisions at least for the next 12 months. It might seem like a long time but you need to take it slow. Your finances and emotions are never a good mix and it usually gets you into trouble. Sadness, grief, regret, and even anger usually follows those that are left behind.

With all these, your decision making can be compromised and you could spend money out of anger or hate and depression. Once this happens, you might end up spending more than what have and you can end up in debt. Try to put off big money decisions until after you have dealt with your loss emotionally and mentally. Once you are fit to make rational decisions, it could be safe for you to make money choices.

Get help and support

One of the problems that surround mental health is that a lot of cases go unnoticed. Partly because the people that have them did not seek out any help and support from family and friends. Once people start bottling everything up inside them, they will have a hard time managing it. This is usually the reason why people blow up and unable to handle their problems.

It helps to talk to family and friends about what you feel especially if you are starting to feel depressed or suicidal. You can even seek the help of a professional so they can help you find meaning and even get some medications. The important thing is to accept that you have some problems and you are open to getting support from other people.

Create a will and communicate it clearly with your family

This was one of the first things you look for when a loved one decided to take their own life. As hard as that is for the whole family, this document helps you move forward. It also serves as your last form of communication with the deceased. This is one way to let you know that they cared about you a lot that they took the time to craft out their will. It might be a good idea to craft your own will while you still can. This will help the people you love the most.

Keeping ahead of Mental Health problems

There are a lot of ways you can stay ahead of potential problems when it comes to your mental needs. Here are a few things to look into.

Talk about what you feel

This is a great tip especially when you are starting to feel troubled. It helps to talk to someone about how you feel so you can let it out. The more you talk about it, the easier it is to accept that you are having some problem, and the more open you can be when looking for help and solutions. This can mean a lot when you are looking after your mental health.

Stay active

There is no question that exercise helps boost your self-esteem which can help you battle mental disorders. The more you feel good about yourself and the things around you, you become an optimist and see the good in everything. It will also help if you try and eat a healthy and balanced meal. This helps your brain get all the right nutrients it needs to function well.

Take a break or vacation

You need to give yourself some time to break away from things. It does not have to be a tropical adventure, a cruise, or even an exotic beach location. There is nothing bad about them but you have to make sure that you do not go into debt because of it. Because if you do, you will never be able to take your mind off it and come back to huge bills and payments after.

This can be as simple as a 5 minute to yourself before you tackle the dishes. A 10-minute walk after work before going home to your family and kids. If you have the money, it can be a weekend in your favorite resort. If money is tight, you can stay home, stream your favorite series, take a long bath, or even read a good book. These breaks can help you compose yourself and even prepare you for what is next.

Mental health is a fast becoming a big issue in the society which can affect all facets of your life including your finances. There are ways to deal with it if you know someone who is having a hard time or if you are the one having to fight it.

Budgeting Tips When You Become An Empty Nester

Budgeting Tips When You Become An Empty NesterThere are a number of budgeting tips consumers look into at different stages in their life. From the moment kids start to learn how to save money to save for retirement, there are a lot of tips people can use to help them budget even better. There is always a big room for improvement in anything that you do and that includes your finances.

For empty nesters, tips to budget their money can be valuable as they face a new chapter in their life. A lot of people might not take this seriously because things are supposed to be easier when kids move out. More room at home, easier to clean, and more importantly – a lot of expenses get cleared out. This is even an exciting development for parents.

Of course, this goes without saying that being empty nester brings its own set of emotional challenges both for parents and children alike. For parents, they will surely miss their kids around the house. For kids, the security their parents give will be something they will miss. But this is the next stage in a family’s life and there is nothing anyone can do about it.

This is why taking in a few budgeting tips when parents are again all alone at home can be a good decision. It can help you manage your finances better and get you closer to your financial goals. There will be a number of readjustments you have to make, taking out a few expenses and swapping them with new goals are to be expected. Here are a few things to consider.

Prepare for future expenses

Just because the kids are out of the house does not mean that you will not have any expenses anymore. For one, you have to keep the house running so the bills will still come in every month. Utilities will still be a part of your finances. You still need to take a bath every day, watch your favorite shows, and use lights all around. One thing though is that you might have a lower bill at the end of the month.

When it comes to empty nesters, one of the budgeting tips people need to consider is that there will still be big expenses along the way. One of the expenses empty nesters need to prepare for would be college education for their children. If they save up for a college fund then that will probably help. However, higher education is quite expensive and kids could come knocking asking for money.

Weddings can also be quite expensive for parents even when they become an empty nester. For one, gifts can make a dent in your budget. It can be anything from an oven toaster to a trip for their honeymoon or even a down payment for a mortgage. You might even have to travel for the wedding which will cost you money.

Debt payment

One of the budgeting tips you need to remember is that empty nesters can still have a lot of debt obligations to consider. Credit cards are usually at the top of the list because you usually do not give it up at any point. When done correctly, it can even help you manage and increase your credit score so you can enjoy lender benefits.

Becoming an empty nester is usually just before retirement so it is a good idea to get a handle on all your debt payments and have a plan of attack. You can choose to pay off the ones with the highest interest or the ones that carry the biggest principal. This can be a toss-up between your credit cards or your mortgage loan.

The bottomline is to pay as much as you can before you hit your retirement. If there is a perfect time to do that, it is now. When the kids start to move out of the house, you will see a lot of extra funds in your budget. You can use that to pay down your debts more aggressively. This way, you get to enjoy your retirement fund rather than use them to pay off debts.

One idea to help you lower down your expenses is to move into a smaller house. You may not have any need for all the rooms in your house. Moving into a smaller one can lower your expenses with lower bills, easy maintenance, and probably lower taxes and insurance. Every single bit counts which you can use to pay down debt and save for retirement.

Retirement is up next

As mentioned earlier, empty nesters are usually just a few years away from retirement. That being said, you should not only pay down your debts, you also have to put more on your retirement fund. This is one of the budgeting tips you need to remember. If you are still employed in a company that matches your 401(k), then it is a good idea to max that contribution. You can also look at other retirement savings to help you reach your goal. This is important as Gallup shares that average retirement age of Americans is at 66 years old.

One of the things you need to keep an eye out as you focus on your retirement fund is an investment. You might be seduced with investing your money on too good to be true schemes. You want to quickly increase your nest egg so you can retire earlier. However, if you lose that money, you could go back to square one. You would be forced to work longer just to get back what you lost.

You need to be careful when you invest your retirement fund because you will always take on risk. What you have to do is mitigate risk as much as possible as you near retirement. The bigger the returns, the riskier the investment can be. It also follows that the lower the risk, the lower the returns. You have to choose safer investments

Splurge a little

It may be hard to believe but one of the budgeting tips empty nesters like you need to look into is spending time and money for yourselves. It can be upgrading your vehicle, refreshing your house, or even taking on a trip. This is a great time to finally give yourself some much-needed break or pursue that hobby you have put on hold for quite some time.

One thing you need to keep an eye out for is to not go overboard. It could be easy to get lost in the moment and spend more than what you can really afford to. When you choose to have a vehicle upgrade, try not get the most expensive one on the lot. You still need to keep to a budget and monitor your finances as you make that purchase.

Keep a close eye on how you can manage your finances as an empty nester with these budgeting tips. It is an exciting time in your life and you should be able to enjoy it with your finances intact. You get to pursue the hobbies you have put off or even enjoy time with your grandchildren. You can even take that cruise you have been dreaming of. The bottomline is balancing your finances so you do not run out just before you hit retirement.
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