WHAT TO DO IF MONEY GETS TIGHT – REWORK YOUR BUDGET

You can’t afford to spend as much as you did when you were employed. Your primary source of income no longer exists. Write down your expenses and differentiate between what you must spend money on as opposed to where you want to spend money. Contact your internet, cable and phone providers to see if you can obtain a discounted rate. Contact your insurance company to see if there are ways to reduce your home or auto insurance rates. If you live alone, consider a roommate. Eliminating unnecessary expenses will give you some extra breathing room while you are conducting your job search. Once you’ve identified expenses you can eliminate, rework your budget. Review any emergency fund money or savings you have and figure out how long it will last.

TRACK AND PRIORITIZE ALL SPENDING Write down everything you spend in a month. Then list your bills in order of priority. Paying your mortgage or rent and your utility bills should be on the top of your list. Trim your grocery bill by shopping at discount stores, use coupons and buy generic items.

CONTACT CREDITORS Your creditors can become your ally especially if you have a track record of paying your bills on time.

  • Call your credit card companies and ask for a lower rate or transfer your balances to obtain a lower interest rate.
  • Check to see if you’re paying for credit insurance that would make payments for you for a specific timeframe.
  • Institutions who have granted you loans will often defer payments for a period of time and add them on to the end of your loan if you have a track record of prompt payments.

GUARD YOUR ASSETS If at all possible, refrain from the temptation of tapping in to your retirement funds. This could result is large financial penalties. Use your home equity with caution. You home equity is protected in bankruptcy court, so you want to guard your home at all costs. A bad credit rating is a burden you would have to bear for a time, but losing your home could be a far worse scenario. Conduct research to see if it is possible to refinance your mortgage.

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What Clients Say About Patrice & Associates

  • Darryl Jackson makes you his priority! 

    I would say that Darryl Jackson was very professional and helped me in all aspects of my job search.  Darryl took my resume and made it more attractive and appealing, he was also very attentive to my needs and what my expectations were.  What I feel was a key part of the success in our relationship was the constant communication on his part.  Darryl makes it his business to know his client and always speaks to you in a positive manner.  He tries to make you see the good aspects of each individual employer.  In the future if I would need to seek other employment I truly believe I would look for his availability.    

    Thanks,

    Luis C

    Darryl Jackson makes you his priority!
  • Thank you all for everything Bruce Leininger!

    Bruce Leininger is an exceptional and irreplaceable asset to Practice & Associates.  Bruce took the time and really get to know me, my passions and personality.  He understood my wants when it came to my career move .  He took the time to talk to me and build a relationship with me.  Bruce had a lot of patience and was always in communication with me in regards to different opportunities.  I respected and appreciated his advice and input.  I will always be grateful to Bruce, as he listened with all his heart.  I will always remember what Bruce has done for my family and I and I will make sure that everyone I know who wants a career change only talks to Bruce!                  

    Respectfully,

    Sami Simaan

    Thank you all for everything Bruce Leininger!
  • The professionalism and care from Francisco Chevez was simply fantastic! 

    He was so informative, prepped to give me the best help whether it was by phone or video call, it gave me the confidence and readiness to succeed in my interview and land the job I was looking for.  He was in constant communication with me and the employer for the entire process, it truly felt like he cared for my needs the entire time and made sure they were met as well.  I am beyond happy with Francisco Chevez and Patrice & Associates, they will be with you 100% during the process and even after to make sure everything is going well. Phenomenal job and thank you so much!      

    Regards,

    Gerrie

    The professionalism and care from Francisco Chevez was simply fantastic!
  • Chris Bovio has been helpful through and through. 

    He was polite, professional, and fast acting.  He listened to what I was looking for and was impactful in his decision making.  His communication was open and offered a hand at anytime.  He made the job seeking hunt 10x easier and made it a seamless process.  I would recommend Chris and his services to anyone!    

    Jessica Pritz

    Chris Bovio has been helpful through and through. 
  • I am so grateful for Sarah Straniero and her tenacity!

    I appreciate your help Sarah. You have been professional and helped me throughout this process. Thank you for helping me with the GM opportunity.        

    Andre F

    I am so grateful for Sarah Straniero and her tenacity!