OK, this is out of control. Inflation as high as we’ve seen in 40 years. And wages aren’t keeping pace. How do you get your budget back in line? Here are some ideas.
- Think priorities. Rent payments, utilities and food come first. You’ve got to have a place to live. Transportation needs come second. You’ve got to have a way to get to work. Next come the items with consequences attached like taxes, child support and insurance. Finally, try to keep up at least the minimum payments on credit cards to preserve access.
- Think support. There are a host of aid programs that weren’t out there before that are available now due to Covid. We’ve dedicated one of our team members to helping our residents navigate what’s available and how to apply. If you don’t live with Decker Properties, try calling 211 or visit 211.org to find available assistance.
- Think call. Lenders, credit card agencies, insurance companies and other creditors might be willing to work with you if you call them up and tell them you’re having a problem. This is way better than just ignoring the matter and becoming delinquent.
- Think family. Hopefully, you remembered Mom on Mother’s Day because you could use her help now. It can be awkward to ask family and friends for help, but better that then the consequences of default.
- Think Extra Cash. Now would be a good time to sign up for some overtime or look for a second job. Or you might be in a good position to ask for a raise at work. We covered how to do that a previous post that you can access here. Finally, maybe you can change jobs entirely for more pay.