The partial government shutdown that had furloughed some 800-thousand employees is a stark reminder to workers that a regular paycheck is not a guarantee.
Jeanne Fisher, a Certified Financial Planner with Argi Financial in Bowling Green, said the key to surviving a financial interruption is to be proactive.
"If you have some medical debt out or your mortgage payment (and) it’s a Community bank, no matter what it is, contacting them and explaining you know this is the situation I’m in, asking for extensions, asking for fees and penalties to be waived. Anyone that you are struggling to make a payment to is going to appreciate and probably respond more positively if you are proactive as opposed to if you just ignore them.”
Fisher encourages consumers to ask for help and to take advantage of a home equity line of credit if they are eligible and to only use a credit card and payday loan as a last resort.