Everyone everyone goes through a financial crisis and my husband and I we are no exception. Our financial crisis always follows a ended contract or Christmas time when every utility bill known to the universe comes in just as Santa puts his little black boots on our door step and just to make it fun something always blows up, dries up or requires some sort of major intervention to get it working..this year it just happens to B1 and his quirks.
Needless to say for the past three weeks maybe longer I have been living in a constant state of frugality and fear of the letter box – because I am that woman who needs a piece of paper in her hand to prove a bill is due because we are there tittering on the edge of a ‘financial crisis’. And I am waving my arms trying to remain balanced and up right.
So how have we got here if we are still in contract? People assume that we have toys we don’t like most of you we don’t. We live simply we choose to invest our money and yet when you invest there is always additional bills and so that’s how we have got here tittering on the edge and we take full responsibility of being here this isn’t a sob story it’s telling you everyone gets here at some point and your determination of a financial crisis differs for all of us. For me its having no reserve left the bills are paid loans in front but there is no safety net. I run my house as a business and so no cash reserve? Hate it. I’m a what if girl. What if I got hit by a bus crossing the road yet knowing full well there is no bus service where I live but then I am going to the city today.
Yet as my husband said to me today Deb as I told him I am a physical wreck ‘this happens every Christmas’ and yes he is right except it feels bigger because we have only just tenanted an investment so we are playing double catch up but we made a plan together how to right it and it feels good..to have talked to about it..to make a plan and know it will make it all better..
Honestly we have tittered on the edge this close to broke just once before and that was just before he got his first oil and gas job and we were talking of selling furniture because it had been so long between contracts and we were running out of lawns to mow so I know we will get through it and come New Years I will be scratching my head going was all that worry worth it? The tank is back to being full what was the fuss.
So five steps to get through a period that will ultimately pass as long as you are sensible about it.
1. Dont play the blame game keep the lines of communication open. Talk regularly where you are financially both when in a crisis and not. Its the reason big businesses have board room meetings. And not talking, blaming it doesn’t get you any where. You are a team. A marriage is a business arrangement if you have said yes to investment decisions {or don’t know your financial position because you leave it up to your wife or husband} without knowledge then you are slightly foolish. Learn fast what you got yourself into and how you can go about getting yourselves out as a team.
2. If you can’t make payment on a utility bill, mortgage what ever don’t put your head in the sand do not pay with credit contact them and talk about a payment plan. What they can do to help you because ultimately they don’t want to lose your future business because even big business know that things will pass don’t fall into that trap of not asking because then they will take everything from you and still leave you floundering. Money makes things so fickle.
3. Reign in your expenses seriously where you can. Business will make job cuts we can make other cuts. If you don’t really need to shop for anything other than milk then don’t. If you can go without a hair cut then do it hence why I am cutting my own hair and my boys look like they have walked out of a trailer park.
4. Sell off unrequired assets..if a business is settling into the red they sell off assets your home is no different..have three cars but on need two sell one..have a garage sale..being proactive makes everything not only feel better but better because you will have additional cash in the bank and more room to move.
5. When you have made it through because you will plan so that there isn’t a next time and if there is then at least you will know what you need to do and how to do it and you will have some money in the bank to help you get through.
Now I am off to check my bank account for the fiftieth time today you know just incase I wasnt aware of a lotto win.
*** Always seek the advice of a professional..always..the internet google me am not considered a professional.
xxDeb
{image with thanks to here}
