Comments on: Crisis Management: When A Disaster Causes Your Expenses To Exceed Your Income

By: Nathania

Nathania — Wed, 17 Jan 2007 04:38:40 +0000

I’m glad you wrote the part about not accepting loans.

On a further note, people should not OFFER loans to people in crisis. JUST GIVE freely from your heart (within your own means to do so, obviously).

I wish I had known the part about contacting creditors during unemployment. My fear of dealing with finances has royally screwed up my credit.

By: Trent

Trent — Wed, 17 Jan 2007 01:27:21 +0000

You absolutely should talk to your boss if such a crisis occurs. The fact that you are making this situation clear to your employer demonstrates that you do in fact value your job; if you hide it, it shows just the opposite when the news comes out.

By: Wanda

Wanda — Wed, 17 Jan 2007 01:24:02 +0000

Great advice, but I’m not sure asking your boss for a raise is the best way to proceed. Every thing I’ve read about negotiating raises say that you should ask for raises because of documentable results that you have achieved for the company, not because you need the money due to a personal situation.

By: moneymonk

moneymonk — Tue, 16 Jan 2007 23:44:45 +0000

3. Eliminate unnecessary monthly programs.

I think this should be done w/o a disaster. Little things like that consume our disposable income, That discretionary spending depletes our savings.

One thing, though: don’t ask for a loan and don’t accept one if it’s offered. Turn it down politely, because an ongoing loan situation is one that can destroy a relationship.

very good advice!

It’s always good to save as much money as you can.