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REPORTER BYLINE PROJECT
COUNTIES Other
Thanks to the Greene County Commission, executive body of government in Greene County, for its annual support of extension. |
Contact: Annette FitzGerald,
consumer and family economics specialist Headquartered in Taney County Tel: (417) 546-4431
E-mail:
fitzgeralda@missouri.edu
After the storm … When
Your Income Drops, Take Control If
your income has recently dropped significantly, your first instinct may be to
give up hope according to Annette FitzGerald, consumer and family economics
specialist, University of Missouri Extension. “However,
if you take some time to organize your assets and find creative ways to
effectively use your skills and your resources, you will find that you can take
control of your situation and keep yourself afloat,” said FitzGerald. The
following steps, according to FitzGerald, will help you take control when your
income drops. First, try not to
panic! There
are resources that can help you through this difficult time. Try to keep a
routine schedule in your life for consistency and to help reduce stress so you
can think clearly. Attempt to eat well and get enough sleep. Second, take stock of
what you have and what you owe. Begin
by taking an inventory of all the resources you do have, totaling up all of your
physical and bank assets, investments, retirement funds and insurance. Examine
how much debt you have as well. Determine what regular monthly bills you have
and if you will have any irregular amounts due within the next few months. Third, make a plan and stick to it. After
you have inventoried your situation, it is now time to make a plan for how you
will adjust your spending and pay your bills. Prioritize bills by which is the
most important. At the top of the list, should be bills that: maintain shelter
(rent or mortgage); maintain
vital services (utility, phone, transportation insurance);
cost
the most to postpone (bills with late penalties, repossession or
disconnect/reconnect charges); and
may
be vigorously collected.
“Take
a look at how much income you will have and make a plan to apply that income to
your bills. If you find you cannot cover all of your bills, call creditors and
discuss your situation. You should call them as soon as you realize you won't be
able to pay all of your bills,” said FitzGerald. Most
companies are willing to set up a plan with smaller monthly payments for those
people who find themselves in need. “The
most important aspect to remember after you have set up a plan is to stick to
it. If you find that you still cannot make the payments, call the company again
and see if the payments can be reduced further. Companies want to see you are
putting forth an effort to pay your bill; therefore, communication with them is
so important,” said FitzGerald. If
you find that you are having difficulty putting together a payment plan and
working with creditors, you may consider contacting a Consumer Credit Counseling
Service near you. They are a not-for-profit organization that helps people
organize their resources, set up payment plans, and better manage their money. Fourth, decide where
you cut back. Put on your creative thinking
cap and find ways to cut your expenses. Ask family members to find creative ways
to help you cut costs. For more ideas on how to cut costs, see the extension
guide sheet, "Living on Less." Fifth, find ways to
make extra money in times of need. You
may find that just a little extra income would help you squeeze through the hard
times. Put your skills to use. Ask friends and neighbors if they need any work
done that you could help with. Children may be able to help by getting after
school jobs or doing work around the house that an outside person would normally
do. For
more information on overcoming financial stress after a disaster, contact the
University of Missouri Extension center nearest you. Local disaster recovery
information is available at http://outreach.missouri.edu/swregion/news. University of Missouri Extension improves people's lives with education and
research from the four campuses of the University of Missouri System and Lincoln
University that focuses on high-priority needs of people throughout the state.
Each county extension center, with oversight by locally elected and appointed
citizens, is your local link to these unbiased resources. ### Contact:
Janet LaFon, consumer and family economics specialist Headquartered
in Jasper County Tel:
(417) 358-2158 E-mail:
lafonj@missouri.edu Extension Publications Help Families Weather Financial Difficulties After the StromNo
amount of money or planning can guarantee that your family will not go through a
disaster at some point. Disaster can strike at any time. Disaster
comes in many forms and can vary in its impact on your family. Unfortunately,
disaster also has negative financial consequences as well as emotional
consequences. “Natural
disasters, like tornadoes, can all lead to a drop in income. You may begin
feeling financial stress because of your situation. However, with some planning
you can take control of your finances,” said Janet LaFon, consumer and family
economics specialist, University of Missouri Extension. LaFon
recommends that families impacted by the recent storm should obtain and read the
“When Your Income Drops” series of guide sheets from extension.
Contact
the University of Missouri Extension center nearest you, or go on line to http://muextension.missouri.edu/explore
and request topical guide sheets.
University of Missouri Extension improves people's lives with education and
research from the four campuses of the University of Missouri System and Lincoln
University that focuses on high-priority needs of people throughout the state.
Each county extension center, with oversight by locally elected and appointed
citizens, is your local link to these unbiased resources.
FROM UNIVERSITY OF MISSOURI EXTENSION SOUTHWEST REGIONAL NEWS SERVICE Contact: Annette FitzGerald, consumer and family economics specialist Headquartered in Taney County Tel: (417) 546-4431 E-mail: fitzgeralda@missouri.edu
Takes Steps to Avoid Fraud Following Disaster The consumer who is to trusting, who does not ask detailed questions, who does not check references and information for accuracy, and who make decisions without careful consideration is vulnerable to con artists.
Annette FitzGerald, consumer and family economics specialist, University of Missouri Extension, offers these guidelines to help area families from being conned.
"Remember, to avoid being conned, you need to ask questions and take time in making a decision about a product," said FitzGerald. To report fraud, contact the Missouri Attorney General’s Consumer Protection Hotline at 1-800-392-8222. For more information or publications on disaster related topics dealing with issues important to the home, family or farm, contact the University of Missouri Extension Center nearest you. University of Missouri Outreach and Extension improves people’s lives with education and research from the four campuses of the University of Missouri System and Lincoln University that focuses on high-priority needs of people throughout the state. Each county extension center, with oversight by locally elected and appointed citizens, is your local link to these unbiased resources. ###
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David L. Burton, BurtonD@missouri.edu Civic Communication Specialist, University of Missouri Extension Last Modified: 05/07/03 |
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