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Financial Lessons From Furloughed Federal Workers

By Cathy Moran

out of work

The plight of workers going without pay because of the government shut down looms over our news.

If our incomes haven’t been affected, it’s easy to see this as someone else’s problem.

But are the rest of us really immune to the same financial straight?

Over and over again, we hear that most U.S. families couldn’t pay an unexpected $400 bill without borrowing money.

The current problem is a lot bigger than $400.

Effectively out of work, federal workers face weeks with nothing coming in, and too little set aside.  It’s notable now because there are so many families affected.

But ending up with no income isn’t unique to the governmental workforce.

To paraphrase the credit card ad, what’s in your savings account?

Image courtesy of DavityDave and Flickr under a CC license.

 

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Filed Under: Managing Money Tagged With: 2019

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

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About The Soapbox

You've arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said "try").

Here, I allow myself to tell stories and express strong opinions on how I think law should work for the consumer and small businesses when it comes to debt.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

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