Five steps to help you survive a temporary loss of pay - KSFY News - Sioux Falls, SD News, Weather, Sports

Surviving financially: Five steps to help you manage a temporary loss of pay

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Many of those furloughed workers are wondering how they're going to make ends meet.
you might want to grab a pen and paper.

KSFY News  has some tips for how you can try to survive a temporary loss of pay.

This can be a very stressful time for anyone who's now without a steady paycheck or lost their job.

Even though many government services shutdown, U.S. Mail hasn't stopped, so those bills may keep on coming.

Taking action is better than procrastinating or hoping the bills will just go away.

If you're facing mounting bills but not sure when you're going to get paid, it can be difficult to decide which one to pay first.

Lutheran Social Services Community Relations Coordinator Marley Prunty-Lara said "finances are very stressful, right, they can be overwhelming, and frankly that's ok that's where we can come in. and sit down with someone."

Lutheran Social Services of South Dakota offers credit counseling help. Prunty-Lara tells us to pay your basic needs first.

"First of the month, your housing is probably due, so you want to make sure you have a roof over your head. You want to make sure, you've got kids, those kids have something to eat, even for you if you're a single person that you have something to eat as well," Prunty-Lara said.

Here are five key steps you can take to survive financially during the shutdown.

First, take a look at what sources of income you have available.  Can you ask friends or family for help?

Second, make a list of all of your expenses and due dates.

Third, look at the type of debt you have to pay.  Is it your mortgage, student loan, medical bills or credit card debt

Fourth, talk to your creditors, ask them about a payment plan, or if any payments can be extended.

And fifth, seek help from a credit counselor.

They can give you non-biased advice that friends and family might not be able to...

"The first thing, when someone comes to our office, that we ask them is what brought you here today, second thing is where do you want to go from here," Prunty-Lara said.

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