• Mya K

APRIL Budget

New month! It’s time to make sure your spending plan is ready to go for the month.

I know for some this will be a different kind of budget.

I recently spoke to a friend who was let go from her job.

I know many who are also experiencing less income from reduced hours.

Here was my advice to her.

1. Get the facts - call the unemployment office and confirm your claim was received, how much you’ll get, and when. I know hold times are LONG so this could be an all day or more than one day step.

2. Contact everyone you owe and learn your options. This could be a deferral of payment for 30-150 days depending. Save this money or allocate it to the top 4 categories. If you are already behind in payments unfortunately this will likely not be an option for you.

3. Based on the facts, look at how you’ll navigate covering mortgage/rent, food for the family, utilities for the home, and transportation. These are your top 4.

Instead of trying to navigate these waters in fear and assumption it’s better to have clear facts so you feel more confident about the direction you need to go.

Bonus: credit score, stacked on interest, higher payment later due to it are all things that can happen and affect you later. You’ll have to look at your situation and see if that really matters right now. Humanity, life, family & love vs money, credit, interest, scores. The latter are all things that can be replaced and repaired.

#budgeting #money #credit #debt #mindset #moneymanagement #factsoverfear #covid19 #personaldevelopment #2020noccdebt #hope #confidence #navigate

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