If Money Is Tight

When you don’t have enough money to pay your monthly expenses, you are faced with some tough financial decisions. Your first impulse may be to use credit cards, loans and other debt if it is available to you. Unless your situation is likely to change in a very short time, this is probably not the way to go. You may find yourself with overwhelming debt and no way of digging out. Concentrate on cutting back on your expenses and working with your creditors until your circumstances get better.

The first step in coping with a shortage of income is assessing your financial situation. When your bills add up to more than you can pay, you need to make some tough decisions about which bills get paid and which don’t. There are many factors to take into account when deciding which bills to pay first. It is also possible to negotiate with creditors to lower monthly payments or drop charges for late payments. If your family is continuing to struggle financially, check out the wide variety of helpful Dane County resources available to help residents in times of need.

Tools in this section: