What To Do When Your Income Drops

Picture from Wix

How's it going Mo' Money family? Is life lifing right now? So your income has dropped, what's next? First off, give yourself grace. If you have made it to this blog, that means you care about improving your financial situation. Give yourself a little credit. Life can be unpredictable, even with our best efforts, our income can suddenly change. We are here now and there is no need to point fingers or have regrets. It's time to THINK POSTIVE! So ask yourself: Can I simplify my lifestyle? Would a second job help me get caught up? Should I consider retraining or going back to school? Is now the time to start that small business idea?

Now, let's MAP OUT your plan!

Now that you have mapped it out, it's time to DEAL WITH DEBT!

You have dealt with your debt, now what? Check around you and USE COMMUNITY RESOURCES! You don’t have to be all alone in this. Many community organizations provide different types of assistance.

Check your Local:

• United Way and Salvation Army

• Community action agencies and food banks

• Faith-based organizations

• Parks, libraries, and Family Connection programs

• Local resources like UGA Cooperative Extension, County Health Departments, and the Department of Labor

It is important to finally TAKE CARE OF YOURSELF AND YOUR FAMILY. Navigating tough times can be a lot, but your health is important.

You can weather any financial storm with the right amount of planning, resources, and support. YOU GOT THIS!!

Source: Adapted from When Your Income Drops Slides, University of Georgia Cooperative Extension, Family and Consumer Sciences. Retrieved from UGA Extension FACS Money Management