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Miriam Caldwell

Are You In Danger of Furlough?

By February 22, 2013

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In the news, I have been hearing a lot about possible furlough for government employees, as well as about the possiblity of unemployment benefits ending for people. It is important to prepare yourself for these possibilities now, and hope that you do not end up going through furlough. Furlough is forced un paid time off. It can happen to you when you are called off a shift each week, or if you are forced to take a week off every month. each company and agency will take a different approach to furlough, but the biggest factor to consider is how it affects your paycheck.

If you are barely making ends meet as it is, a furlough can make it difficult to survive. If you know that furlough is a possibility, you need to begin cutting your expenses by reducing your monthly bills. You can cut back on the services that you currently get by lowering your minutes or the channels on your cable package. You should also try to put away extra money towards savings to cover the short fall. If you are currently putting a large amount of extra money towards your debt each month, you may want to put that into a savings account until the crisis is over. If you do not need it, then you can put it on your debts at a later time, but if you do need it, you will not have to worry about your power being shut off or finding a way to feed your family. If you are in danger of losing your unemployment benefits, you may want to look for temporary, contract or part-teime work in addition to how you currently looking.

 

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