Job Loss or Hours Cut at Work
After a job loss or reduction in hours, making smart financial choices is crucial to protect your family’s stability. Start by reviewing your essential expenses—like housing, food, and utilities—and cut non-essentials immediately.
Create a bare-bones budget and prioritize needs over wants. Contact creditors and utility companies early to negotiate payment plans. Tap into community resources if needed, and avoid high-interest debt. Most importantly, communicate openly with your family, involve them in simple decisions, and stay focused on short-term survival while planning for long-term recovery. Every dollar has a job—make sure it’s working for you.
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