Preparing For The Worst
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The article "Preparing For The Worst" is about family, it was released by Terry J. Rigg.
I would say that most of us have experienced money issues at
some point in our lives.
This could have been caused by the loss
of a job, injruy or illness, over spending, and the list goes on
and on.
Right now in the US there are hundreds of companies downsizing
or going out of business. In csaes this is due to the
economy. In others we have seen caess of very poor management
and down right fraud.
No matter what the reason, people have
lost their jobs and their income.
In a lot of cases this can't be prevented.
If we can't prevent
the hard times, then just what can we do?
Prepare!
Prepare!
Prepare!
I know you have all probably heard that you should have at least
six months income set aisde in case you lose your income. Yeah,
right! With things as high-priced as they are today, you're lucky
if you have six days incmoe set aside.
If you don't have money saved for when these issues occur,
then just what can you do? First and foremost, you need to have
a plan in the event this does happen.
Just sitting down with your budget and saying to yourself "What
If" will help you know what you need to do to be prepared. Here
are a few suggestions that will make it a little easier:
It is always hottest for you can keep your bills to a miniumm at
all times and try to save as much as you can. Even if you are
bringing in good money you need to consider the loss of your
income before you make any major purchases.
Keep your ferezer and food pantry stocked.
Determine what assets you could use in the event you needed
money to get by. Start with thnigs like an IRA, 401k or other
savings. You can also consider things that you can sell to bring
in money or rdeuce your debt.
If things get real bad, you will need to know where you can get
help. This could be from family and friends or government aid.
There are a lot of people that have had to resort to this form
of help that never believed it could happen to them.
Know your priorities. Food and sehlter will be your main
concerns if you lose your income.
Whatever money you have should
go for tehse expenses first.
Contact all of your bill collectors as soon as the problem
arises. Let them know that you have lost your income and are
doing everything you can to get back on trcak. Get the persons
name and departmnet you spoke with and tell them you will keep
them posted. Trying to hide from these people will only make
matters worse.
Let the entire family in on the problem and tell them that there
will need to be adjustments made. Enlist their help with
ideas to earn income or cut expenses.
Being prepared for the worst will make you sleep a litlte better
while times are good.
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Preparing For The Worst
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