- January 16, 2019
- Posted by: Harrine Freeman
- Category: Budget, Budgeting, Economics, Finance & accounting, Government shutdown
Government shutdowns do not exist in other countries. Personnel that continue to receive a paycheck during a government shutdown are the President, Congress, the military, federal law enforcement agents, doctors, and nurses working in federal hospitals.
Americans have to change the way they think about money and how they spend it. They must change their spending habits to minimize the impact of an unexpected emergency such as a government shutdown, medical condition, job layoff, or death of a loved one. Here are 8 practical ways to survive a government shutdown.
Ensure you have enough food for at least one week. Use all items in your panty and eat leftovers before going grocery shopping. Cook inexpensive meals such as soups, casseroles, or pasta dishes.
Pay priority bills first such as mortgage/rent, utilities, cell phone, auto, and health insurance.
Search your local newspaper or watch your local news for freebies in your area.
Determine areas where you can reduce spending by at least 30%. Only purchase necessities.
Call your creditors right away to setup payment plans to prevent damage to your credit report.
Find ways to earn extra income.
CREATE A BUDGET
Create a budget to determine how much you earn, how much you owe, and how much you are spending. Track your spending daily or weekly. Always spend less than you earn.
Create an emergency savings account to pay your bills and monthly expenses for at least 6 – 12 months.