At Redstone Federal Credit Union, they’re hearing a lot of the same questions repeated with regards to furloughs.
Senior Financial Counselor DeeDee Travis shares their concerns, “How am I going to pay my car payment? What am I going to do about my mortgage payment? What can I do as far as putting food on the table?”
Back in the cubicle farm, they give free financial advice to people dealing with furloughs, but their guidance isn’t always popular.
Travis says, “The advice that I give is usually something that they don’t want to hear. You should really start preparing for things like this all along. Don’t wait until it happens. Start early. Make sure that you have an emergency fund.”
If you rely on the government for your check, this probably won’t be the last time you fret a furlough.
Over at the credit union, they say the most important thing is simple: Don’t fear asking for help.
Travis notes, “The first thing that you should do when you are faced with a situation such as furlough or sequestration is to contact your financial institution. We know what’s going on in the market, so there’s always some type of product out there that’s going to be available to help.”
No matter your financial situation, don’t suffer in silence and instability, because the information you need could be just a phone call away.