I recently got laid off. How do I stay on top of things until I find employment?

 

  • Find out if you are eligible for unemployment and begin the process as soon as possible.
  • Contact your creditors as soon as you know that you’ll have a problem paying bills. Take the offensive. Call your lenders before they call you.
  • When you call a creditor, have the following information ready: account number, reasons why you would like to renegotiate your payment, and how much you propose to pay until you get back on your feet.
  • Keep the lines of

What should I do if my expenses exceed my income?

When expenses exceed income, three alternatives are recommended: increase income, reduce expenses, or a combination of the two. To understand where your money is going and to identify ways to cut back, consider tracking your expenses for a month or two.

Three short-term options are also available: sell assets, use savings, or use credit.However, it is important to use these options only for the short term. Longer term use of these options could lead to major financial difficulties and possibly …