There are currently thousands of families financially affected by the United States government shutdown. Many people are federal workers who have not been paid for a long time. Private sector contractors employed by government agencies or dependent on them in other ways are also facing financial uncertainty. Others are simply in need of their tax refund and can’t get it.
It can be difficult to survive financially during what is now the longest government shutdown in U.S. history. However, there are several things that you can do to keep yourself and family afloat during a government shutdown:
Cut Back on Your Spending
One of the keys to getting through a government shutdown is to live on a tight budget. Look at all of the expenses that you have. Eliminate all of the things that you do not need. You can get rid of eliminating cable, gym memberships and other recurring expenses that are putting a drain on your budget. Start a new budget that only covers the bare essentials.
If you are having trouble putting together a budget, then you can meet with a financial advisor. They can provide you with financial counseling and help you come up with a budget that will work for you and your family.
Use a Credit Card or Loan
It is a good idea to avoid getting into debt during a financial crisis. However, if you are financially responsible, then a credit card or loan can be a good option to get through the shutdown. Depending on your existing financial situation, you may be able to utilize payroll advance loan options in a pinch or access one or more credit cards to help pay the bills.
Find Other Ways to Make Money
If you are not getting paid or are expecting a tax refund delay, then you should try to find other ways to generate income. You can use your other skills to make money. For example, if you love to write, then you can make money by writing articles online. You can also make money by walking dogs or babysitting.
If you have valuables you no longer want or need, then you can sell them on eBay or Amazon. Even relatively low-value items can still fetch a good amount of money if in decent condition. Additionally, you can get a job waiting tables or driving for Uber.
Contact Your Creditors
If you are drowning in debt, then you will need to reach out to your creditors. Let them know that you have been affected by the government shutdown. They may be able to waive late fees or suspend your payments for a certain amount of time.
There are community resources available for people who are struggling financially. Many restaurants are giving out free or discounted meals to people who have been affected by the government shutdown. There are also programs that can help you pay for your housing and utilities.
Unfortunately, the government shutdown has put many people in a difficult spot financially. Many people do not know when they are going to get their tax refund or next paycheck. The good news is that you can still keep yourself and family afloat financially. You will need to cut back on your spending and find other ways to make money. You will also need to contact your creditors and look into using community resources. Additionally, you may want to take out a loan or credit card.