Dealing With a Spouse’s Job Loss
May 23, 2016Planner: Tania via 1 on 1 consultation
Problem: Her husband lost his job and she wanted some guidance on prioritizing their finances.
Suggested Action Steps: We discussed creating a solid budget and leveraging online tools to track their expenses. We also pushed back ideas around adding debt and moving to a different home until they got their finances under control.
Results: She created a budget and started tracking her expenses like we had planned. In addition, she managed to pay off all of her credit card and reduce her student loan debt! Her plans to avoid more debt and moving stayed in place.
Testimonial: “I hope all is well. I’ve been reflecting on my financial situation over the past couple of days and I feel GREAT!!! I am so much more optimistic about the future and for the first time in years, I feel like I have a pretty good handle of my finances. I’ve been saving more and spending less on non-essential things. I’m taking steps to reduce my student loan debt and I have no credit card debt as of today. Pretty liberating! I am so thankful that you talked me out of supporting my husband by getting more student loan debt and for getting me to think through the financial implications of the move to PA. You have no idea how glad I am that we did not make that move. I’m on Mint.com every chance I get and setting monthly goals has helped me stay on task. Love that site! Anyway, I am really thankful for your insight and support. I’m not sure that I’d be in this place had I not spoken to you when I did. Please forward my email along to your supervisor. THANK YOU!!!!!!” – Anonymous