Obtaining Help With Money Problems When Retired

Money problems can strike at any time of life and retirement is no exception. When serious financial difficulties do arise it is always better to seek help rather than let this stressful situation continue.
Retirement and Financial Difficulties
Retirement can actually be one of the worst times for money problems to strike, especially now that there is no monthly salary coming into the home. It only takes one or two emergency financial problems to throw off a carefully set budget. A huge number of retirees live solely on a state pension and with the cost of living rising it is no surprise that money or lack of it is a major concern for retirees. What should be a time to relax and enjoy the fruits of many years of hard work can become a serious financial struggle for many retirees.Avoid the Short Term Borrowing Solution
Some people will see short term borrowing as an answer to money problems but with high interest rates this can sometimes be an unworkable financial solution. Lenders can be very reticent when it comes to providing credit to over 60s and will usually apply high interest rates to new borrowers in this age group. The solution to money problems will not usually be found by more borrowing. This is where agencies such as the Citizens Advice Bureau, Age Concern, and the Social Services can be extremely useful.Finding an Answer to Money Problems
Retired people can find a great deal of financial help through agencies such as Citizens Advice and the Social Services. These agencies and government offices have trained staff who will offer the best advice, support, and financial help. Some retirees who find themselves in financial difficulties will often suffer in silence rather than seek help. These agencies exist to provide help; it is what they are there for. Financial difficulties can occur at any age, and retired people should remember that they are not alone when it comes to these problems. Always take advantage of the help that these agencies can provide.What Financial Help Can Agencies Provide?
One of the major pluses of contacting a help agency is that they will be able to advise on all of the state benefits available to retired people. The charity Age Concern states that a huge number of retirees never claim all of the benefits available to them. The main reason for this is that retirees are simply not aware that these financial benefits exist. In fact in the UK, unclaimed state benefits for retired people is around the £4.6 million mark. These unclaimed benefits are not a handout they are benefits that retired people are entitled to.Take A Financial Assessment
Agencies such as Age Concern can help with money problems by taking an individual financial assessment. They will be able to assess which state benefits are applicable to retired individuals and couples. For instance a large percentage of unclaimed benefits include pension credits, carers allowance, winter fuel payments, council tax exemptions and housing benefits. Agencies such as Age Concern, Citizens Advice, and the Social Services will be able to assess whether or not the retired individual or couple should be claiming for these benefits. This extra money can seriously help reduce money problems and help tackle the cost of living during retirement.Agencies That Can Provide Financial Advice
There are a various organisations that exist specifically to help with certain money problems. For instance, retired people with debt problems can contact the Consumer Credit Counselling Service and the National Debtline. Other agencies, charities, and organisations that will be able to offer free advice and information on dealing with money problems during retirement will include:- Age Concern
- Help the Aged
- SAGA
- The Pensions Service
- The Social Services Department
- The Citizens Advice Bureau
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