Barbara Morrison-Ritenour

Barbara Morrison-Ritenour

By the time young people today reach midlife, they are more likely to be buried under student loans and saddled with credit card debit, and perhaps, a large mortgage, than they are to have an established emergency fund and plans for retirement. In an effort to reverse this trend, below are seven important questions to help individuals at any age manage debt responsibly for a lifetime of financial security.

1. Are you aware of all your monthly payments, and do you include them in your budget? This may seem obvious, but many people have no idea what their total debt burden is each month. In addition to housing, food, utilities, transportation, clothing, entertainment and gifts, be sure to include credit card payments, auto loans, personal lines of credit and any other debt obligations when budgeting your income.

Barbara Morrison-Ritenour is ACNB Bank’s community banking manager for the Littlestown office located at 444 W. King St. in Littlestown, Pa.

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