 TITLE: How to Pay Off Debt in Retirement CONTENT: Create a Budget\n---------------\nYour income and expenses may change significantly in retirement. Creating a budget for retirement can help you better manage your money once you're no longer bringing home a paycheck.\nTo make a budget, add up all your sources of income for the month. Then subtract your fixed monthly expenses—things you must pay every month, such as a mortgage, insurance premiums or a car payment. Finally, estimate your discretionary spending—expenses that vary each month, such as groceries or dining out.\nNext, look for places to cut spending so you can pay down debt faster. Could you eat out less often? Stop buying new clothes? Shop around for insurance to lower your premiums? Taking steps to reduce spending in your budget categories gives you more money to put toward paying down your debt.\nAlso look for ways to bring in more money, such as:\n*   **Freelance or consulting work**: Offer to consult for former employers or similar businesses, or seek freelance work on sites such as Fiverr, Upwork and Freelancer.com.\n*   **Teaching**: Do you have a skill people will pay to learn? Charge for music or art lessons, for example, or tutor local students.\n*   **Driving for a rideshare service**: If you like driving and meeting people, driving for Uber or Lyft could be both fun and lucrative.\n*   **Selling products**: You may be downsizing anyway—why not make money selling your castoff furniture, clothing, books and other items on eBay or Craigslist? You could also buy and resell new items or sell crafts on Etsy or at local craft fairs. END