Download - How to Juggle Debt & Retirement
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Wednesday | 3 p.m. ET#CreditChat
How to Juggle Debt & Retirement
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Join our #CreditChat every Wednesday at 3 p.m. ET. This week, we talked about juggling debt and retirement planning.“
Check Out All the Tweets and Resources:
bit.ly/juggle-debt
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Wednesdays | 3 p.m. ET#CreditChat
What is it easy to fall into debt?
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No one ever intends to go into debt.
#CreditChat
Tweet by @NFCCdebtadvice
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#CreditChat
Job loss is any easy way to fall into debt. Tweet by @AdvantageCSS
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Credit cards are incredibly tempting and that debt can grow fast. Tweet by @AmericaSaves
#CreditChat
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Shopping sprees can be an easy way to fall into debt.
#CreditChat
Tweet by @AdvantageCCS
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Easiest debts to get into: credit cards, personal loans
#CreditChat
Tweet by @DeeOnMoneyZA
and clothing accounts
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Not having an emergency fund can result in unexpected debt.
#CreditChat
Tweet by @MoneyCrashers
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Wednesdays | 3 p.m. ET#CreditChat
How does emotion impact the waywe spend money?
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Fear, insecurities and stress can lead to retail therapy.
#CreditChat
Tweet by @CreditDotOrg
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We spend to feel comforted, but need to keep spending
Tweet by @Phroogal
to feel that same joy. Spending makes many feel in control.
#CreditChat
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Spending money because we think we “deserve” something.
#CreditChat
Tweet by @SenseofCents
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Emotional spending stems from conflating consumer goods
#CreditChat
Tweet by @FrugalWoods
with happiness & mentality of paying away problems.
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Avoid emotional spending at all cost.
#CreditChat
Tweet by @GraceKvantas
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When people spend for emotional reasons they think
Tweet by @NFCCdebtadvice
it may solve a problem or add temporary relief.
#CreditChat
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Emotions and psychology play a huge role in how
#CreditChat
Tweet by @Magnify_Money
we spend (and save) our money.
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Wednesdays | 3 p.m. ET#CreditChat
What advice do you have for thosestruggling with debt?
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#CreditChat
Prioritize. Set a goal. Make a plan. Seek out help. Tweet by @AmericaSaves
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#CreditChat
Tweet by @TeamFSINC
If you’re stuck with a debt load with high interest rates, focus on paying that off.
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#CreditChat
Ask for help from a financial professional before you get in too deep.
Tweet by @MSMadamMoney
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Don’t ignore it. Debt has no feelings. Face it head on with a plan.
#CreditChat
Tweet by @YoungFinances
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Don’t panic. Stop spending, sit down and review your budget line by line. Identify where you can save.
Tweet by @FrugalWoods
#CreditChat
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Set money aside for unexpected expenses and emergencies
#CreditChat
Tweet by @NFCCdebtadvice
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Put together a detailed plan to get out of debt faster.
#CreditChat
Tweet by @Quizzle
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Tweet by @FamZoo
#CreditChat
to avoid early debt traps.
Teach your teens to create an emergency fund early
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Make financial decisions with your head, not your heart.
#CreditChat
Tweet by @NFCCdebtadvice
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#CreditChat
Maybe we need more impulse saving. Tweet by @csmithraleigh
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Wednesdays | 3 p.m. ET#CreditChat
How much money should gotoward retirement vs. paying off debt?
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#CreditChat
Don’t wait to start investing in your retirement or you’ll miss out on compound interest.
Tweet by @MoneyCrashers
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#CreditChat
Important to tackle saving and debt pay down simultaneously. Tweet by @csmithraleigh
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#CreditChat
Don’t put off saving for retirement. Attack your debt fiercely. Tweet by @DeeOnMoneyZA
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Jumpstart your teen on retirement saving.
Tweet by @FamZoo
#CreditChat
Set up Roth IRA and seed with some of first summer job + parents match.
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#CreditChat#CreditChat
Decide to stop growing your debt, and work on a repayment plan.
Tweet by @DeeOnMoneyZA
Make sure it’s realistic. Be as ruthless.
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Wednesdays | 3 p.m. ET#CreditChat
What are some mistakes to avoidwhen investing for the future?
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Make sure you know the fees you’re paying on investments. Don’t be losing too much money in the fine print.
Tweet by @magnify_money
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#CreditChat
When investing, avoid the urge to pull your money when the market drops. Tweet by @JayneMakesCents
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#CreditChat
One of the biggest mistakes is NOT saving enough!
Tweet by @AdvantageCSS
Think of inflation and what things will cost when you are retired.
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#CreditChat
Believe in the power of compounding interest.
Tweet by @FrugalWoods
And don’t pull money out of 401(K) or taxable investments prematurely!
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Don’t let recent years scare you off from investing. Stay diversified to protect you from swings.
Tweet by @YoungFinances
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#CreditChatWednesdays | 3 p.m. ET
Check out all the resources and tips shared:
bit.ly/juggle-debt
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