Retired in USA

Your golden years are your best years! Make them shine!

  • Home
  • Personal Finance
  • Retirement Life
  • Saving & Spending

11 Reckless Ways Seniors Spend Their Money

May 13, 2022 · Personal Finance
money Debts - claiming social security early
Photo by fizkes from Shutterstock

Carrying credit card debt

By deciding to charge more than you can pay off on your credit card, you might experience huge money issues during your retirement. “Carrying any credit card debt might be a huge money waster for retirees.” Renee Johnson agreed, editor-in-chief of The TechReport.

She even added that retirees should forego credit cards, as they are on a fixed income and should mostly try to live within their monthly income. If not, it might become too easy to put things on credit and then have to pay out more money for paying it back over time, because of interest charges. If you’re using a debit card, you should try as much as possible to make all of your purchases in cash.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • Senior couple sitting at a wooden kitchen table reviewing paper receipts, bank statements, and store reward cards. 9 Store Membership Tiers That Are Rarely Worth the Upgrade
  • Senior couple sitting at a wooden table reviewing Social Security and Medicare documents beside a budget notepad. 10 Things Nobody Explains About Medicare's Late Enrollment Penalty
  • An older man sits at a dining table with a laptop, ledger, and banking statements from multiple financial institutions. 8 Reasons Retirees Are Splitting Their Savings Across More Banks
  • A senior man sits at a wooden table reviewing financial papers with a calculator, eyeglasses, and coffee mug nearby. 9 Things That Happen to Debt When You Retire With It
  • A woman reviews Medicare Advantage comparison guides and plan documents at a wooden table with a coffee cup. 10 Things Nobody Explains About Medicare Advantage Switching
  • Mature couple reviewing retirement portfolio charts and taking notes at a sunlit wooden kitchen table with a laptop. 8 Reasons Retirees Are Rethinking the 4% Withdrawal Rule
  • An older woman in an apron waters potted plants on a sunny front porch with a small dog lying beside her. 12 States Where a Modest Pension Still Goes a Long Way
  • Older couple relaxing in wooden chairs on a porch with coffee mugs and a newspaper on a rustic wooden table. 12 Places Where Property Taxes Are Basically Nonexistent for Retirees
  • An older couple holding mugs on a wooden balcony overlooking a misty valley town and distant mountains at sunrise. 11 Places Retirees Keep Naming as Their Biggest Surprise Favorite
  • Mature woman sitting at a sunlit wooden table reviewing paperwork, with eyeglasses, a pen, and a steaming mug nearby. 15 Financial Challenges Widowed Spouses Often Don't See Coming

Newsletter

Get retirement tips and senior living advice delivered to your inbox.

Related Articles

An elegant ink and watercolor illustration of a split path representing different retirement saving options under new policy rules.

Who Really Stands to Gain From Trump’s New 401(k) Proposal – and Who Could Be Left Out

Discover how new 2026 retirement proposals, alternative asset rules, and the Saver's Match impact your…

Read More →
Social Security changes coming in 2024

6 Social Security Changes Coming Next Year

6. Higher earnings test If you are still working after you have filled out your…

Read More →
Trump second term, seniors living on Social Security

Claiming Social Security Early: 8 Reasons Why You Should Do This

6. No One Else Is Counting On Your Benefits In case of your death, certain…

Read More →
A senior couple smiling while looking at a tablet on a sunlit porch.

9 States That Still Tax Social Security – and One Dropping the Tax in 2026

Discover the 9 states that still tax Social Security benefits in 2026 and the one…

Read More →
A woman in her early 60s working part-time at a cozy bookstore, holding books and smiling warmly.

Working Part-Time? Here’s How Social Security Really Sees You

Learn how working part-time impacts your Social Security benefits, 2026 earnings limits, tax thresholds, and…

Read More →
401(k), security check holiday

Social Security Check: 8 Ways to Live a Comfortable Life Off It Alone

#6 Consider relocating to make most of the security check It’s not hard math: if…

Read More →
Mature woman sitting at a sunlit wooden table reviewing paperwork, with eyeglasses, a pen, and a steaming mug nearby.

15 Financial Challenges Widowed Spouses Often Don’t See Coming

Learn 15 unexpected financial challenges widowed spouses face, from the widow's tax penalty and Social…

Read More →
401k Loan

401k Loans: Are They REALLY Worth It?

Risks of 401K Loans Despite the benefits of borrowing from your retirement account, there ARE…

Read More →
A retired couple reviews financial papers at a sunlit kitchen table, planning their budget.

Retirees, Take Note: 4 Recent Social Security Changes You Can’t Afford to Miss

Discover the 4 key Social Security changes in 2026, including the 2.8% COLA bump, updated…

Read More →
Retired in USA

Your golden years are your best years! Make them shine!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Trust & Legal

  • Contact
  • Editorial Policy
  • Advertiser Disclosure
  • FAQ
  • Subscribe
  • Unsubscribe
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • Do not sell my personal information
  • Request to Know
  • Request to Delete
  • CA Privacy Policy

Categories

  • Enjoying Retirement
  • Personal Finance
  • Saving & Spending

© 2026 Retired in USA. All rights reserved.