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I was reading on the Bureau of Labor Statistics that more than 40 states have reported an increase of unemployment filings, totaling around 200,000 layoffs.  I wanted to share some tips from an older post on prioritizing your bills.

The first step is to prioritize your debts, paying the necessities first.

• Housing: You need a roof over your head. If you have a mortgage, please focus on paying this bill to avoid foreclosure.
• Food: You need food to survive. Cut out all eating out expenses and stick to grocery foods. Eating sandwiches may not be the popular choice, but it’s the smart one.
• Utilities: Electric, phone, and water are important utilities. Cancel your cable bills and make sure you’re not paying too much for phone service. You can call and see if you can qualify for assistance or a special payment plan.
• Car **If you are way over your head with car payments, try selling it to break even. **

While I hope none of my readers have to go through this, the sad reality is it can hit any one of us. We can reduce our chances by reducing debt while we have money. Has anyone been through this? What helped you to survive? Do you have any tips on how to make it work?

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