[USER]

Question for everyone please ….I’ve lost my job and because not enough hours I don’t qualify for EI….i just received a gift of money from a relative….would you save it until I find employment (which has been awful) ….or should I pay off some bills?

Struggling here ….its like my safety net but I also don’t want to have nothing either …hubby works but it’s not alot of hours and I collect my Cpp and Oas but not a lot either as I took it early!

Your insight would be so helpful!

Thank you!

[Cely]

Get employment. Save your dollars and make it stretch.

[Catherine]

Contact your creditors and arrange hardship payments. Hang on to as much as you can for as long as you can.

[Aaron]

Seek out a food pantry to help supplement your groceries temporarily

[Victoria]

No clue where you are / what country? You say you “don’t qualify” because it sounds like you didn’t work enough hours – part time?

You also say you collect “Cpp” and “Oas” – again no clue what that is??

Not to mention “hubby works but it’s not a lot of hours?”

So, both of you were working only parttime before you lost your job” Why weren’t either of you working full time?

Why aren’t you using Unemployment office, online job websites to find new and/or better jobs?

As for you original question of whether or not you should “a gift of money” from a relative to pay off bills – or save the funds.

At this time you have little that will be coming in again until you and/or your hubby get better jobs – my suggestion is to save the funds and do a budget – everything you have available now should be your “save.” List only income you know will be coming in for you and hubby.

List all basic, only basic and necessary bills – mortgage/rent, water, sewer, electric, etc. – anything no on the “necessary” list, like that coffee or dinner out, those are now on the NO list.

List existing charge card balances separately, you need to stop using any you have and focus on paying them off, That great bargain, or item you just have to have – if not paid in full will be accruing interest at rates from 15

[Melissa]

Save it for your necessary living expenses such as housing and food, utilities. Call any bills you can, inform them of your situation and see if they can work with you at all.

For example sometimes you can find assistance with utilities or go onto a budget billing plan.

Some bills will allow you to change your payment date so that you can essentially skip one month payment by pushing it several weeks out.

Apply for other assistance you might be eligible for such as SNAP/food assistance, medicaid etc.

Or speak with a social worker if you don’t know what programs are out there. Also apply for temp jobs to cover the employment gap and bring in some money.

You could also consider “gig” type work like substitute teaching, food delivery driving, helping friends/neighbors with babysitting, pet sitting, house sitting etc.

[Johnson]

Look up Dave Ramsey on YouTube
The snowball method
The answers to your questions depend on all the details

What do you make
What do you owe
How much is it
Housing
Food

Utilities and phone
Transportation

Those are the bills you pay to keep the lights on, hot water for showers
A place to stay

Food to eat while you job search
Most everything else can wait

[Rona]

I’d use it to keep up with any minimum payments but I would hang on to it until you’re employed again.

Good luck on your job search!

[Rita]

I in this situation would stuck up food, tolet paper and stuff like that.

[Chanell]

Hold onto it as long as you can. Consider it your emergency money in case you don’t find a job right away. Focus on bills that you can’t pay late first; shop your own home pantry for food.

Now is the time to buckle down and be disciplined.

Don’t try to do everything the way you always have.

[Lisa]

I would use the minimum required to be sure you have housing and the basics.

You don’t want to have nothing as a back up (in my opinion)

[Linda]

If you manage it tightly can you pay essential bills and keep cash on hand.

Some companies will work with you as long as you pay something on the account.

[Susan]

Keep it as savings and only use if you absolutely have to. If it’s still there when you find employment then use it to pay your bills.

[Jackie]

Pay the minimum required on your bills. Spend as little as possible. Make it stretch as much as possible.

Job hunt like it is your job.

Good Luck!!

[Meg]

Btdt more than once.
For me it’s: house, car, power and water, save, and if I can do it the minimum on debts.

Call your debtors, I got two to give me smaller payments and no interest for 9 months.

[Author]

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