Leaving your job and heading into retirement is exciting. But it can also be scary — especially if you still have debt to pay off. Retirees are contending with rising costs of living and the need to make their money last, and monthly debt payments can take a significant bite out of your sayings.

But it’s not too late to aggressively pay off your debt, and it’s especially important to do so with high-interest debt, like from credit cards. Personal financial guru Dave Ramsey has offered tons of advice over the years about how to become debt-free, and people over 50 who are nearing retirement can use his playbook to prepare themselves for what’s next.

1. Adjust your lifestyle

Freezing new borrowing is a top priority. That may mean adjusting your lifestyle so that you no longer rely on borrowing to fund your purchases. For example, if you tend to rack up a credit card bill that you can’t always pay off from dining out, it’s time to meal prep and cook at home.

You also need to pay off your existing debts — and doing so may mean making a few more lifestyle changes. Maybe you can swap a high-end vacation this year for a weekend stay at a nearby vacation spot during the offseason. That way, you can use the extra savings to help pay off your debt. Review all your non-essential spending and see what you can cut. Then, review what you spend on essentials (think groceries, gas and utilities) and see if there are ways to shop around or negotiate costs with providers so you can spend less.

Making lifestyle adjustments isn’t just about saying no to certain things. You can also consider picking up a side hustle or semi-retiring with a part-time job for a few years before you fully retire. People in their 50s don’t have as much time for wealth to compound as young adults do, so it’s more urgent for them to aggressively trim debt.

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2. Build a budget

Budgeting can help you track your expenses and make sure you aren’t overspending. You can use a budgeting app like Monarch or YNAB, or simply create a spreadsheet or write down your budget. This can allow you to designate a certain amount of money to your debt payments, and helps limit how much you spend on non-essentials.

Note that financial advisors tend to recommend having an emergency fund that can cover three to six months’ worth of your living expenses. That way, you don’t have to borrow money and fall back into that trap if you end up with a surprise expense.

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3. Choose a debt strategy

Next it’s time to choose how you’ll attack your debt. The debt avalanche strategy entails paying off high-interest balances first and minimizing how much interest you pay in the long run. People who follow this method usually prioritize credit card debt since it is more expensive than most debt balances. Then, you tackle the debt with the second-lowest interest rate, then the third-lowest, and so on.

Another option is the snowball method, which involves paying off your smallest balance first, regardless of the interest rate. This strategy lets you build momentum, which can motivate you to stick with your plan.

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