[USER]

Any advice on how to get ahead financially if emergencies/having to take LOA back to back keep occurring and leaving me with very short paychecks?

How do you maintain financial stability when facing frequent emergencies or taking a leave of absence (LOA)? Unexpected expenses and income disruptions can make it challenging to stay on track financially.

What strategies, habits, or resources have helped you manage your finances during such times?

Any tips on budgeting, emergency funds, alternative income sources, or financial planning would be greatly appreciated!

[Sally]

What if you saved up an emergency fund then you worked on paying extra on your debt pay it down

[Rachel]

Dig into the LOAs. Is there anything you can do to minimize them or adjust your work schedule to allow you to still work? If you haven’t yet, make a budget based on missing work.

Look at your variable and fixed expenses and determine whether you have any wiggle room to be more conservative.

If not, then hard decisions need to happen like changing jobs or downsizing your home.

[Johnson]

Emergencies for you or do you have kids or something else?
I agree
Budget
Emergency fund

Side hustles
Pay your debts
Cut frills & excess

Stop wasteful spending
Those are the basics besides

Lotto
Inheritance
Shark Tank deals

[Melanie]

I know these sound simple compared to other answers but going to food pantries, take your lunch to work, adjust your thermostat a few degrees and dress accordingly.

[Andrea]

Since you didn’t list the reason why you need to take so many LOAs, it’s hard to offer suggestions. Please clarify.

I’ve had to dig myself out of a hole several times for various reasons.

It always requires the “failure is not an option” attitude to start.

[Annette]

There are really only two ways, increase income or decrease spending.

A proper budget helps one understand exactly where the money is going.

[Diane]

Take advantage of every “reward” program vendors offer; from downloadable coupons to fuel purchases to “cash back”. Reduced Meat bins are a lifesaver for me.

I check those everytime I pass my local grocer and tell my friends to shoot me a picture if they are there and see anything in em. I live close so I can get there pretty quick.

I clip coupons from $Gen, Fam$ and Kroger (love their rewards) every Thursday whether or not I actually go and I clip everything I even think..I might use.

Both of the first two have a $5 off $25 coupon almost every week and I got that down to a fine art..

I buy paper products one week, Bathroom supplies one week, grocery items one week & cleaning/laundry the next.

As a result My home is well stocked that I even skip weeks and never run out of storable staple items.

I cook in the early am or late in the evening to help defray heating/cooling costs. NEVER at noon.

I can pack an oven and cook several dishes at once then store meals in those sectioned microwaveable plates (some in the fridge some in the freezer) which cuts down on dishwashing and accommodates various schedules.

I have a drying rack and hang clothes right out of the washer. My church dresses (I only wear em a hr) I wear more than once without washing unless I stain them with coffee or something.

I seldom use a dryer and my dishwasher is used to store plastic and seldom used dishes.

I NEVER carry a BF on credit cards, but I do use them to pay regular bills (like my power bill, cell phone, grocery & pharmacy, fuel auto/home insurance & medical co-pays etc.) and take advantage of cashback rewards they offer.

I get at least 2% off all those purchases and it adds up.

I pay en online every Wednesday just as though I had paid cash. I manage them, they don’t manage me. If you are undisciplined or an impulse shopper..skip this and pay cash.

Of course it goes without saying to cut all the non-essential items/services until you are able to return to work AND get an ER fund built up.

For me the bottom line is save your pennies and little by little you will see $ increase.

[Allison]

If you have a 401k or other retirement plan at work, temporarily stop it.

It sounds like you need more money coming in right away and that would help.

[Stacey]

I had medical leaves of absence unexpectedly and it was not easy. One of the things that helped me was just concentrating on basics like a roof over my head and being alive (rent, utilities and cell phone and food) (toilet paper was the cheapest brand from dollar general or dollar tree) Anything else was “extra” that was taken care of if I could.

I arranged reduced payments on a couple bills, cancelled subscriptions, deferred etc. Paid minimum on credit card. I had a little notice so I paid ahead on what I could.

I am a food stockpiler so was very creative on soups and simple meals. Rice is filling.

Throwing together biscuits is cheaper than buying store bread. Don’t be afraid to ask for help from local churches, food pantries etc if you need food etc.

Maybe you could walk dogs or pick up dog poop for extra income. Door dash. Shop for others. Give rides places. Good luck.

[John]

You need to build a 6 month emergency fund to cover your expenses if you have no income.

When you do work, work overtime or get a second job to build up the fund.

Good luck

[Ellie]

If you don’t feel comfortable answering I understand, but what are the emergencies and how are they causing you to take LOAs?

I’m not trying to judge I’m just trying to see if there’s a different way something could be handled.

For example I used to manage multiple restaurants and had an employee that called off constantly because her son was sick …once I sat her down and talked with her I realized her son was very seriously ill once…

and now when he showed the slightest bit of symptoms of being sick she over reacted and called off, causing her more issues.

So, with a little communication we worked out something…on those days if she did not call off I would allow her some extra time to step away and make phone calls to check on her son to ease her mind.

So, it eased her anxiety and allowed her to actually come to work so she wasn’t losing money.

[Sally]

You need a budget. A monthly budget that includes sinking funds. Sinking funds will allow you to have your emergency savings as well as funds for the once a year and quarterly funds that you have to pay.

The budget will show you if you’re making $2,000 a month for example but you’re spending $3,000 a month.

So, then you have a choice as to whether you want to increase your income which is usually the case or if you want to decrease spending.

Some people get stuck in the living paycheck to paycheck because they’re spending too much on their car loan. Right now housing is ridiculously expensive.

Your car insurance should be no more than 20% of your take home pay, but that’s really really high

[Rona]

Unless you build investments, win the lotto or go to work there is no way to get ahead. Not saying that in a negative Nancy way it’s just how it is.

In the meantime make any cuts you can, save where you can and try your best to hold on, until things improve.

See if you can nab any side jobs that are more flexible.

Sometimes things are just tough, but it’s usually just a phase of life and with perseverance we can come out on the other side.

Good luck!

[Shlomo]

You need to build a budget. Once that gets in place it should come into place

[Author]

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