From the course: Personal Finance Tips Weekly

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When you can't make ends meet

When you can't make ends meet

From the course: Personal Finance Tips Weekly

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When you can't make ends meet

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- When we can't make ends meet, it's often hard to come up with a clear plan for how to manage. We wanna fix it, but if we're facing job loss, a health issue, or a major unforeseen expense, the solution may not be right there at hand. However, even with limited means, you still have the power to make choices, minimize debt or damage to credit, and plan for a successful financial recovery once you're back on solid ground. Here's my financial CPR plan for what to do when you can't make ends meet. C is for cash flow. First, acquire information. Tally up your resources on hand. Make a list of your assets including how much cash and available credit you have. Survey your existing expenses and income to get a complete financial picture. Read your contracts and user agreements to see what service plans you can cut or modify. And identify found money like store credits, gift cards, and items that you can return for refund. Next, analyze. What expenses can be reduced or eliminated? What must…

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