budgetcategoryfour

Step #2

Hopefully you have your budget done as we outlined.

In your situation we really can't call this a budget yet, because there just aren't enough funds.

It does give a precise picture of exactly where you are and you will need this information.

Step #3

Unfortunately when you are in this situation two things can happen

(a) your credit rating gets damaged cause payments are not made or are late.

(b) you fall into a rut and give up trying.

So these two items need to be corrected. Go to step #4.

Step #4

1. Get a copy of your credit report. No matter where you live you should be able to obtain this free.
This will give you a clear understanding of how creditors are evaluating you.

2. If there is anything on the credit report you do not agree with, contact the credit agency and discuss what you can do about this.

3. Grab a cup of coffee and get on the phone. Call each of your creditors, and explain to them that you are in financial difficulties and are trying to avoid bankruptcy.

Ask them what is the best they can do for you as lowering your payments AND your interest.

Most creditors will try and accomodate you, because after all some money is better than nothing
and at least they stand a chance to get back what they loaned you.

If you have been able to make some suitable arrangements with some of your creditors go to step #5
If they have absolutely refused to cooperate then go to step #6.

Step #5

Now sit down with your original budget and revamp it by putting in the new figures according to what you arranged with your creditors.

If you are now in a position when you now have some money over and above your expenses, contact any utility company you are behind in payments with. Try to make arrangements to start making regular payments + a little extra each payment until you are caught up. Usually they will accept this.

Its very important that you follow through with whatever arrangements you make with both the creditors and the utility companies.

Step #6

If your creditors for whatever reason have declined to make any deals with you then you need to seek professional help.

Get the phone book and start calling financial counsellors. Your state or province should have some government agencies free of charge for this.

They will look over your finances, determine what is best, and if need be they will contact the creditors.

Step #7:

If you are here from step #5 this means you are least now in a position where you can make ends meet.
But this still isn't a great situation, because you have no form of entertainment.

You have a few options:

2) Depending on your personal situation consider getting a part time job if you are able to work one and there is some available.
You may have been feeling in the past "whats the use" but now there is some light at the end of the tunnel for you.

3) If you have children that need to be babysat while you work, a second job may not be the answer, although you might want to consider this...

If you have a friend who is sort of in the same boat as you, perhaps you could find a job where they would let you work share. You wouldn't be making as much money, but you would be making some.

By workshare this means, you and your friend would split the hours.Perhaps she would work three nights and you two nights. If there are small children involved perhaps you could do a trade off in babysitting.

Don't be afraid to ask potential employers for this option. Many of them are acceptable to it because it means more reliability.
In otherwords if one person can't make it the other can.

It won't be easy and certainly no fun, but you will start to feel good about yourself because you will be making some headway.

There still may not be funds available for entertainment, but you may want to consider going to our library, to see what we have to offer. We have lots of books you can purchase at very reasonable prices that are loaded with ideas such as entertaining on a shoestring or virtual vacations just to name a few.!

We've listed some links here of free contests that are fun to enter. AND you never know you may win.

Theres also some freebee sites, although some may only be for Canada, but check them out anyway.

Also go to our time out games page, you can play a free game here.