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How to Deal With a Sudden Reduction in Income

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Dealing with a sudden lowering | cut | fall | severance in income is stressful at any time, and especially in a new marriage or living situation. Instead of panicking or ignoring the problem, talk to your partner openly.

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Dealing with a sudden __________ in income is stressful at any time, and especially in a new marriage or living situation. Instead of panicking or ignoring the problem, talk to your partner openly.
Whether caused by a job __________ or other issue, taking action immediately can help to successfully adjust to the new financial situation.
One of the possibilities of managing the situation is applying for unemployment __________ or other assistance programs. Be aware, that some programs can have long wait periods.
What you need to do is to discuss the financial situation thoroughly. Go over credit card bills and __________ statements, so that you and your partner understand where the money is spent each month.
Then you should be able to calculate, where to __________ expenses. Make a list of items which are no longer required and eliminate services you can do yourself.
You don't have to replace all of the lost income but just enough to meet your newly reduced __________. To avoid missed payments you should contact your bank and creditors right away and explain them your situation.
They will see you as a person who behaves responsibly and be more likely to work with you to __________ your debt payments.
You can also look for ways In addition to job-hunting, you could sell items you don't use or start a home business to __________ your income.
There are many ways how to deal with lost income, just don’t ignore it. Financial issues can cause a __________ on a relationship if ignored or not dealt with openly.
Keep reminding yourselves that these changes are only __________.

 

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