Unfortunately, we know that financial emergencies and unexpected expenses, like car repairs and visits to the doctor, happen. How can you help yourself be prepared to cover whatever unplanned costs may arise? Have you ever considered establishing an emergency fund? What is an Emergency Fund? An emergency fund is a savings account to cover the […]
What is a Furlough?
I have just been told there will be mandatory furloughs at work. What does that actually mean; what is a furlough? An employee furlough is a mandatory suspension from work without pay with the expectation that they will return to work. Usually it occurs when an employer needs to reduce its budget or it doesn’t […]
Experiencing loss of income is devastating
When you have had a loss of income, it can be devastating. You may face some very difficult financial decisions when your paychecks stop coming and you do not have enough money to cover your family’s basic living expenses. Spending habits must change when income is reduced and prioritizing needs vs wants is going to […]