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Remember to be a team when tackling finances

Dear Dave,

Earlier this month, my husband and I each have been laid off from our jobs inside a few days of one another.

The layoffs weren’t our fault. The firm is letting a number of individuals go as a cost-cutting measure. We cashed in an annuity as a result of our finances have been tight, however the excellent news is he started coaching for a new job final week.

We don’t have youngsters, so I’m interviewing or filling out functions daily. Should we use the money from the annuity to dwell on till issues are steady once more, or ought to we use it to repay debt?


Dear Anjanette,

If you haven’t executed so already, contact your collectors and clarify what occurred. Let them know the layoffs weren’t as a result of both of you probably did something improper, and that you simply’ll get present with them as quickly as attainable. This is a scary scenario you’re going through, so be sure you two preserve the strains of communication broad open and encourage one another when you’re fixing this downside.

The excellent news, although, is it feels like issues could be wanting up. Support your husband all you possibly can as he takes on his new job, and be sure you proceed on the lookout for work, too. Slightly extra cash by no means hurts, so quickly taking over a part-time gig when you’re on the lookout for a everlasting place isn’t a unhealthy concept, both.

Of course, you want to be honorable and pay your money owed if attainable. But that will have to be placed on maintain for a whereas. Right now, the vital factor is preserving meals in the home and the lights and warmth on. Hug on one another, keep decided and preserve one another’s spirits up. You’re a team, and also you’ll get by this.

Always bear in mind, too, that prayer’s a good factor.

— Dave