Page 18 THE MALDEN ADVOCATE–Friday, May 16, 2025 MUSINGS | FROM PAGE 7 friends went to Malden Catholic! Well... actually, none of my best friends did. They were all Malden High guys, of course. But truth be told, some of the best people I admired most growing up wore MC blue and gold. Medford’s very own Mark Cannon, for one – a one-man wrecking crew on the football field at old Brother Gilbert Stadium in the early ’70s, before taking his talents to Holy Cross. Then there’s Danny Meyers, an Amerige Park hoop deity, who made dropping 35 points a night (without the benefit of a three-point line) look like a walk in the park during his mid ’70s run at MC. The late Eddie Norton’s boys, Paul, Mike and Dave, lit up the mid-to-late ’70s sports scene at MC as well, carving out their own famiSavvy Senior by Jim Miller Strategies for Paying Off Credit Card Debt Dear Savvy Senior, My husband and I, who are retired, have accumulated about $7,000 in credit card debt over the past few years and need some help paying it off. What can you tell us? Living Underwater Dear Living, I’m sorry to hear about your financial woes but know that you’re not alone. Credit card debt has become a big problem in this country for millions of older Americans. According to a recent AARP report, 52 percent of adults ages 50 to 64 have credit card debt, along with 42 percent of those ages 65 to 74. Rising costs of basic expenses like food, housing, utilities and health care are the main culprits. But now, new tariffs on products made in China and other foreign countries will make many goods more expensive, which could make this problem worse. Of older adults carrying a balance, nearly half owe $5,000 or more, and nearly a third owe upwards of $10,000. While paying off credit card debt can feel overwhelming, it’s doable with a solid plan and a bit of belt-tightening and persistence. Here are some strategies to help you tackle it: Create a Budget Start by taking a close look at your income and expenses to see where you can free up money to put toward your credit card debt. Also look for areas to reduce spending, such as dining out, entertainment or subscriptions. And see if you’re eligible for any financial assistance programs (see BenefitsCheckUp.org) that can help boost your budget by paying for things like food, utilities, medicine and health care. Call the Card Company While the average credit-card interest rate is more than 20 percent, some credit card companies may be willing to lower your interest rate or work out a payment plan, especially if you’re struggling. It doesn’t hurt to ask. Pay More Than the Minimum Credit card companies only require the minimum payment, but it’s usually mostly interest. Try to pay more than the minimum every month to make a dent in the principal balance. Choose a Repayment Strategy If you have more than one credit card, pick one and get serious about paying it off. Start with the card that carries the highest interest rate, or the one with the smallest balance. If you focus on paying off the card with the highest interest rate first, you’ll pay less interest over time, saving yourself a lot of money. Once the highest-interest card is paid off, move to the next highest, and so on. Or you may want to start with the card with the smallest balance. Paying off smaller debts quickly can give you a sense of accomplishment and motivate you to keep going. Consolidate Your Debt If you have multiple high-interest cards, look into consolidating your debt with a low-interest personal loan from your bank or credit union. Or consider moving your debts to a balance transfer credit card with 0 percent interest for an introductory period, which is usually 15, 18 or 21 months. This will eliminate the amount of interest you’re paying temporarily. But be careful! Once the introductory promotion ends, the card company will charge interest on any remaining balance. Consider a Debt Management Plan If you need more help, use a nonprofit credit counseling agency (see NFCC.org) to create a debt management plan for you. At no cost, a counselor will go over your income and debts and determine what’s workable. The counselor will then negotiate with your lenders, to get a payment plan that will lower your interest and monthly payments and maybe forgive some debt. If you accept their negotiated offer, you’ll start making one monthly payment to the counseling service, which will in turn pay the issuers. You’ll likely pay the agency a small fee and give up the cards included in the plan, but over time you’ll be able to pay off your debt. Send your senior questions to: Savvy Senior, P.O. Box 5443, Norman, OK 73070, or visit SavvySenior. org. Jim Miller is a contributor to the NBC Today show and author of “The Savvy Senior” book. ly legacy. My longtime friend, hockey standout Robbie Buckley, and I go so far back that we both remember Jeff Hurley before he pulled his first prank. Long time ago! Robbie grew up tearing it up at Amerige Park before skating his way into the Salem State College Sports Hall of Fame. And speaking of guys who make you proud to call Malden home – my neighborhood paisan and longtime friend, (former) Malden Police Chief Kevin Molis, Class of ’75 at MC – is someone I can’t praise enough, both as a professional and a person. Bobby “Bull” O’Leary, Class of ’68, is another true “stand-up guy” who embodies what it means to be a good man (his younger brother Tecca ain’t a bad guy either) – I’m proud to know him/them. And those Malden Catholic hockey teams of the ’70s? They may have been stocked with skaters from all over, but when they hit the ice, they made all of us from Malden proud to our core. So, for all you Lancer alums reading this, this one’s for you. Thanks for giving us yet another reason to puff out our chests and say, “Yeah, I’m from Malden. Not Malden High, but what the heck!” Insert smiley face. Postscript 1: Just a friendly – and somewhat passionate – reminder: Who exactly is Marie’s little boy, John? Only the guy who’s been Aerosmith’s Road Manager for decades – the backbone behind one of the greatest rock bands America has ever produced. And yes, the very same guy I’ve been campaigning (unsuccessfully so far) to see rightfully inducted into the Malden High School Alumni Hall of Fame. Alumni HOF Committee, I love you all (you know that), but hear me out for a second (again): We’re talking about a kid who grew up in the “shadows of the old Emerson School,” scarfed down Big A subs before he could tie his shoes and logged more hours playing street hockey in the Girls Catholic parking lot than most folks have spent breathing — and this is the guy who’s been steering the biggest, the baddest, most iconic hard rock band this country has ever produced. With all due respect, no debate. And yet...no Hall of Fame nod? Honestly, it feels like the Malden equivalent of the J. Geils Band getting snubbed by the so-called Rock & Roll Hall of Fame in Cleveland. In my humble (but headstrong) opinion: Next time those doors swing open, they ought to swing wide – with John marching right through, alongside the likes of Maldonia music legends like Phil Bynoe, Gary Cherone, Marc Phaneuf and (my landsmen) Jordan Shapiro & Norman Greenbaum. Just saying... and saying it a little bit louder this time. With all due respect, of course. Postscript 2: It’s that time of the year again – the 4th Annual IACC/Nick Bombino American Cancer Society Memorial Bocce Fundraiser, honoring the one and only Nick Bombino! If you’ve ever been to the Italian American Citizen’s Club legendary Winter Classic, you already know the drill: Bocce? Check. Shuffle puck? Oh yeah! Mouthwatering food and perfectly poured drinks? Always and forever. Exclusive tournament tees? You bet. 50/50 raffle? Let it ride! Great energy, handsome people, and (hopefully) killer weather? Fingers crossed; sunglasses will be ready. This isn’t just a day full of friendly competition and backyard bragging rights – it’s a heartfelt tribute to Nick Bombino, son of longtime board member Jerry Bombino and Rosalie. Nick bravely battled cancer, and we honor his legacy the best way we know how: together, in community, with all proceeds going straight to the American Cancer Society. So, grab your squad, polish those bocce balls (or just prep your drink hand) and come be part of something meaningful, memorable and just plain fun. Let’s roll for a cause. See you there on Saturday, May 17, at 9 in the morning. —Peter is a longtime Malden resident and a regular contributor to The Malden Advocate. He can be reached at PeteL39@aol.com for comments, compliments or criticisms.
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