My husband lost his job in January after hand surgery. I found out I was pregnant with our second baby two days before he lost his job. It took almost my entire pregnancy for him to find a new job. We stayed caught up on most bills with family help and our savings. I took 8 weeks for maternity leave, paid for 6. We’re now a month behind on living expenses. We considered a $5,000 loan to get caught up on bills. Is this the best solution?
Budgeting and expense management can help. Try the 50/30/20 rule to allocate income efficiently.
Dale said:
Budgeting and expense management can help. Try the 50/30/20 rule to allocate income efficiently.
Good idea, I’ll look into that. Thanks!
Dale said:
Budgeting and expense management can help. Try the 50/30/20 rule to allocate income efficiently.
Good idea, I’ll look into that. Thanks!
No problem! It’s a good way to manage finances.
Consider reducing fixed expenses. Shop around for cheaper insurance policies or refinance loans.
Dakota said:
Consider reducing fixed expenses. Shop around for cheaper insurance policies or refinance loans.
I’ll see what we can cut back on. Thanks for the advice.
Dakota said:
Consider reducing fixed expenses. Shop around for cheaper insurance policies or refinance loans.
I’ll see what we can cut back on. Thanks for the advice.
You’re welcome. Every little bit helps.
Optimize daily spending. Cook at home and cancel unused subscriptions.
Reagan said:
Optimize daily spending. Cook at home and cancel unused subscriptions.
We’ve been trying to save where we can. I’ll keep looking for more ways.
Reagan said:
Optimize daily spending. Cook at home and cancel unused subscriptions.
We’ve been trying to save where we can. I’ll keep looking for more ways.
Great! Consistency is key.
Consider only borrowing the minimum needed. Calculate repayments carefully.
Rylan said:
Consider only borrowing the minimum needed. Calculate repayments carefully.
Good point. We’ll try to borrow as little as possible.
Rylan said:
Consider only borrowing the minimum needed. Calculate repayments carefully.
Good point. We’ll try to borrow as little as possible.
It’s a smart move. Good luck!
Take advantage of tax returns and automate savings to ensure consistency.
Val said:
Take advantage of tax returns and automate savings to ensure consistency.
We plan to use our tax return to pay off debt. Thanks for the advice!