Recently I've gotten a large number of calls and emails from people who are not just trying to learn the principles of thrift, but are in REAL FINANCIAL TROUBLE. Most had lost great paying jobs due to "down-sizing" when through no fault of their own they were let go to save the company money.
So now, not only are they now making less than their debts, but they are behind in their payments. This starts a vicious cycle where every month they pay something on the credit cards and mortages or rent, etc. BUT Because of late fees they are deeper and deeper in debt every month! And these are the people who can actually make payments.
Consolidate Debt
The best solution I can recommend if you are in this sort of trouble is to do a debt consolidation of some sort. There are several kinds to try:
1) Refinance mortgages
2) Debt consolidation loans
3) Home equity loans
If you own a home try for a home equity loan pay off the credit cards and get current on bills.
In The USA try TheLoanPage.com or some other multiple listing service to check out changes in rates.
In the UK try:
Loans _UK.com
If you are a renter consolidate the credit cards so you make one payment and you get these people off your back.
One site people have recommended very highly to me compare rates on both these tactics is:
Frugal Living Bill Consolidation Links
gets the most positive comments of all the bill reduction sites I list here at Frugal Living. Spend a hour there comparing prices at several sites to save your situation.
Sell Something:
If you don't have credit debt and find yourself in dire straits, don't despair, you still have many options! To get immeadiate cash -- sell something. Most people have something of value.. a second vehicle, old china, something... If you have lots of household stuff like china and dishes have a yard sale. If you need to be discreet in order to "keep up appearances while looking for a new job sell it on EBay Stores. With millions of buyers you'd be surprized what will sell. To ship your package for free get the $25 Dollars free from the USA Post office.
More Jobs are More Money:
If you are a family everyone can pitch in a get jobs to help out. Even teens can work part time to help the family through a tough patch with newpaper delivery or fast food jobs. A spouse can get a job to help tide things over. After its all over you'd be surpried how often this can help family unity.
Married or single, even if you are seeking a job in a professional field, you can work evenings or weekends to get some income from somewhere. With more and more people being downsized every day no one is surprised by this anymore. If being seen at a low paying job would hurt your professional standing in some places, get a temporary job at a nearby town where you are not known. Temporary Agencies are ALWAYS hiring and are actually the way many major industries are doing entry level hiring. This a great way to get a job to hold you over.
The Important point is you need to generate income.
If all else fails -- you can start your own business. There is a wonderful free course taught by a man "downsized" after years of fine work, who started his own business being taught FREE at:
Free Start Your Own Business Course. This is a series of classes. Check it out!
Here at Bella check out the business tips at:
Abundance and Wealth
And check out the inspirational Business Coaching site:
Business Coaching and Advice
Call Emergency Help Agencies:
If you are being faced with rent eviction or having your house taken by the bank there are emergency mortgage and rental aid places in most states. Call the Local United Way to find where they are located in Your Community. Most states will pay emergency heating and utility shut off notices too. Check in the Emergency Services part of your local phone book, or call the local social services agency for a referral.
If you have no food in the house, please call the local Food Bank --thats what they are there for.
And one final thought.. if you lost your phone and need a phone contact for jobs, try paying a neighbor a small sum to use their number for a bit. They can simply say "He isn't in right now, I'll take a message." If this doesn't work then get a cell phone on one of those one month free deals to get you a month to get things back and running again.
MYPOINTS has a great deal on a free cell phone and a free first month. (Note: please put the name pinteareed as a referring source. Thanks!)
Good luck!!! We are all rooting for you!
