Getting Drastic

When we face hard times financially, we all know we should cut our spending and maybe you already have done so.

It can also be hard to know how big a change we need to make.

Often, we make some smaller changes that seem reasonable but still we don’t have enough to make ends meet.

If you are facing a sudden negative change in your finances, with little hope of things getting better soon, then you should consider making more drastic changes to match the situation.

‘consider making more drastic changes to match the situation’

• • Can you move into a family member’s back room or stay with a friend while you rent out your place?
  • Can you sell some of your assets to make ends meet?
  • Can you start a lift club to work or school?
  • Can someone else in the family take on small jobs to earn more?

You may need to make several changes all at once and admittedly that’s hard. Still, you may only need to make them for a short time before things get back to normal.

And the truth is that anyone can face a sudden financial crisis. It can be because of lower income or higher expenses. It can even happen while a person is in debt review. 

Rather than drop out of the process and lose all the progress you have made (and often end up in a much worse financial position) brainstorm ideas with your Debt Counsellor. 

You might be surprised how much you can save (or earn) if you get drastic.