It’s been well documented that more than 100,000 public servants were either over paid, under paid or not paid at all since the federal government decided to migrate to a new payroll system last winter. While some of the problems have been worked out, thousands of families are still in limbo and many are struggling to keep up with their bill payments and expenses. Many are taking on debt they cannot afford just to make ends meet.
A situation like this is completely out of the employees’ control. Same could be said for mass layoffs or employees that must leave their jobs due to health concerns. We rely immensely on regular and consistent cash flow to fund lifestyle choices. When income is suddenly cutoff, it is not unusual to feel insecure, vulnerable and scared. When will the collection calls start? How will I pay the mortgage or rent and put food on the table? These are real questions that deserve practical and realistic solutions.
Here are some tips to help plan for or deal with a sudden cash flow cutoff:
If you are burdened with debt stress, asking for sound advice is a sign of strength and the smart thing to do. Asking sooner rather than later is always better. Try our debt reduction calculator and call Doyle Salewski today for your free, no obligation consultation. You’ll be glad you did.