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

  • Jonathan Litt was an amazing coach during my job search.

    The thing that stands out to me the most is you can tell he truly cares. He helped me gain self confidence through phone calls and was constantly checking in on me during the interview process. Not only was I able to acquire a great job with the help of Jonathan, but I received incredible insight. He is a very smart guy and is able to effectively explain his thoughts in a simple manner.          

    Thank you so much!

    Jacque J.

    Jonathan Litt was an amazing coach during my job search.
  • Karen Horton is personable, knowledgeable, and was instrumental to my Career Goals.

    Communication and correspondence with her was easy and fast and her feedback always proved very useful during the recruitment process.  With other recruiters I have dealt with in the past, I've usually had the impression that I was merely part of a quota of applications. This was not so with Karen, I am convinced that she had my best interest in mind as well as those of the company she was "hunting" me for.    

    I cannot thank Karen enough for all her assistance in what I am sure will be a long lasting relationship with my new employer.

    Regards,

    Carlos

    Karen Horton is personable, knowledgeable, and was instrumental to my Career Goals.
  • Ross Horton is the definition of what a professional account manager should aspire to be!

    He finds ways to help that best suits his candidate, now that takes passion for helping people! The way that he engages with his clients is truly rare to find. If you have the chance to work with him. Do it!

    Thank you,  Ross Horton and Patrice & Associates!

    Joel Rodriguez

    Ross Horton is the definition of what a professional account manager should aspire to be!
  • Dionne Spriggens is the definition of Dedicated!

    Dionne Spriggens is doing a great job with exceptional service.  Dionne is amazing with her persistence and the positive vibes she brings.  Since I the first time I spoke with her she has been nothing but professional and dedicated.

    I strongly believe that she will be a great asset to Patrice & Associates for many more years to come!

    Best regards

    Bovon L.

    Dionne Spriggens is the definition of Dedicated!
  • Shawn Hoye needs a raise!

    Shawn Hoye went above and beyond in matching me with a position and company that was best suited for me. He is passionate about what he does, and is with you every single step of the way. I would highly recommend Shawn Hoye and Patrice & Associates.          

    Thank you!

    Melissa

    Shawn Hoye needs a raise!