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Adjusting to income loss

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Income loss happens to most of us at some point in our life. No matter if you have been laid off, had your work hours reduced, took a pay cut, retired, went on family medical leave, or became a single parent household, the results are the same: income loss. How you respond to the income changes financial, emotionally, and socially can make a difference for you and your family's long-term financial security. Use these resources to get started today.


Setting spending priorities when income falls

Get tips to help you make ends meet when your income goes down.

Strategies for spending less

When your family faces reduced income, take immediate action to stop all excess spending.

Deciding which bills to pay first

Tips and resources for deciding which bills to pay first.

Talking with creditors

Reduce your chances of being harassed by creditors or collection agencies by working out solution.

Making the most of what you have

Look at your total financial picture and determine which assets you might use to meet family obligations.

Bartering

Swapping resources with others is a time-tested way to stay in control when money is tight.

Helping mom or dad with reduced incomes

Ways you can help your family during difficult financial times.

Deciding if teens should work

Weigh the pros and cons of whether your teen should work when the family falls on hard financial

Reviewed in 2018

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