Financial Solutions During Difficult Times

With planning, adapting, a thorough look at your finances, you can persevere through times when your income is reduced, but your expenses are not.

What you can do today

Not having enough money to pay for life’s necessities is scary, but there are a few things you can do to get you through this time while limiting the hardship.

  • Look at your monthly expenses and prioritize them
  • Decide what you need to pay for and what you can eliminate
  • Cut expenses such as clothes, dining out and entertainment
  • Consider every cost and ask yourself if you really need it, or can this wait
  • Avoid relying on high-interest rate credit cards

If you need additional funds to cover lost income, consider all of your options. Here are some suggestions:

  • Sell assets, from a garage sale, offer up, Facebook marketplace, and others
  • Obtain temporary employment elsewhere
  • If you have adult children who are working and live with you, ask them to increase their contribution to the household expenses
  • Borrow from your retirement account or cash value life insurance plan
  • If you own a home, tap into your home’s equity.  A home equity loan, such as a HELOC, is a good source of low-cost funds that are readily available when you need it
  • Reduce your monthly loan payments by consolidating high-interest rate debt into a Bill Consolidation loan or even a HELOC
  • Contact us to discuss possible payment deferral
  • Consider applying for a short term low-interest loan such as our Emergency Relief Loan

If you need help, we have partners that can help you navigate these uncertain times. That includes financial advisors through BALANCE, a company dedicated to financial wellness.

Please call or text us at 310 374 3436 or email

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