Dear LPG,

We all know that we pensioners make up a large part of the population that has not been affected financially by this pandemic because our income has not really changed.   I am sure that this has been said many times but that is not always the case.

Getting into debt happened to me because, I ended up leaving my job to care for my unwell husband after a couple of years of trying to manage both things at the same time.  That all started 9 years ago and now I find myself alone and on the verge of my own retirement.   While I know why it happened to me, it still appeared to creep up on me while I wasn’t looking.

For many, retiring is something they saved up for, but for others the adjustment from living on a worker’s wage one week to living on a pension the next, does not always suddenly become apparent either; and it is very difficult to adjust your lifestyle as suddenly as your finances adjust themselves.  As a result, your spending habits often take a lot more time to adjust than the amount of money that is coming in each week, which is where the problems starts.

I always assumed that you have to be young, and working to find yourself in debt but I am living proof that it can happen to anyone, and I am sure that I am not the only person who gets stressed just thinking about what was happening.  

If I could do it all again I would have done it differently and I have to say that I am now getting it all sorted but, when things were at their worst, I think that one of my biggest mistakes was thinking that if I ignored it for a bit longer and was a bit more careful with my spending, my financial problems would sort themselves out.

I have now learned that it is vital to take a look at how much you owe every now and then and, if the total difference between your income and your spending leaves you with a negative amount, no matter how small that amount is, the alarm bells should start ringing in your head.

I had a friend who I mentioned my predicament to.  She helped me to look online where there are now so many debt advice services that approaching the best one to help if you need one can really be confusing. So I contacted The money advice Service (Tel: - 0800 138 7777) and while they deal with many other financial questions, they have really helped me in so many ways. As a result of that telephone call, I have learned where I can go to get help with utility bills, the cheapest telephone and broadband options, where to get help when it comes to sorting out affordable ways to pay off my existing debts, and so much more. 

I just want to again say how important it is to make sure that your monthly spending is less than the amount of money you have to spend in the first place.  A regular check on exactly what you owe is vital and, if nothing else, at least tell a friend if you think that you have any problems.  It is worth remembering that no matter how bad you think that your problems are, there is always someone else who has a worse one.  

If you are now where I was, please don’t let stress, confusion and embarrassment get in the way. Get Help.

MV, Forest Hill.

MV shares a couple of places to start...

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…and an online calculator designed to help you work out if you have a problem…

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