5 signs your spending is out of control

FOOD. Apply for SNAP (Supplemental Nutrition Assistance Program) benefits. If you qualify, even a $15 voucher can often translate into a $50 or $60 box of groceries at food programs run by

community agencies, Ford points out. Food banks have expanded their operations; Meals on Wheels may be available to seniors. OTHER SOCIAL SERVICES. In many states, simply dialing 211 will

connect you to a community resource specialist in your area who can put you in touch with local organizations that provide critical services, such as housing assistance. Or you can call your

town or county offices and ask for a referral for the services you need. Many local government websites can point you to information to assist you in filing for unemployment and other

issues. And AARP has links to local mutual-aid societies at aarpcommunityconnections.org. “There is help out there,” Ford says. “I just hope people reach out for it." AARP MEMBERS: MORE

ON HOW TO RESET YOUR FINANCES AND THRIVE IN TODAY'S ECONOMY. I'VE CUT BACK MY SPENDING SINCE MARCH, AND MY INCOME HAS BEEN STEADY. WHAT DO I DO WITH THE MONEY I HAVE BUILDING UP?

Take a bucket approach and prioritize, filling one bucket before you move on to the next, says financial planner Dana Levit of Paragon Financial Advisors in Newton, Massachusetts. START WITH

A BIG CASH CUSHION. “I always fill the cash bucket first,” Levit says, recommending that people have a full year of living expenses, if they can, tucked away in cash. Make sure to include

any onetime expenses you see on the horizon, such as a new car. That's a bigger emergency fund than you may have had in the past, but appropriate in today's uncertain economy, she

says. DON'T IGNORE DEBT. If you've got credit card debt, tackle that after you've built up a three-month emergency fund. Then go back to stockpiling cash, Levit says.

Long-term debt, such as a mortgage, student loans and car loans, typically comes with lower interest rates; build those ongoing payments into your regular budget. RETIREMENT COMES NEXT. If

you're still working and you're over 50, you can contribute up to $7,000 to a Roth IRA. Your contribution can't be larger than your earned income, and your ability to

contribute phases out if your income is over certain amounts: in 2020, $196,000 if you're married and filing jointly, and $124,000 for solo filers. Levit prefers the Roth IRA to other

retirement plan options because of its flexibility — for example, you can withdraw contributions tax-free at any time if you need to. INVEST WHAT'S LEFT. If you've got less than

$100,000 to invest, use a low-cost target-date mutual fund, Levit advises. These diversified funds automatically rebalance over time, shifting to more conservative investments as you age.