How to Manage a Temporary Budget Shortfall

A temporary loss of income can put a burden on any household, especially without that three -six-month emergency fund in place. Yet, during these uncertain times, loss of income is a realistic possibility millions of families face. If you are amongst those people, the following tips can help you survive the challenging times with your head held high -and money in your pocket.

Non-Retirement Investments

Look first for cash in your non-retirement investment accounts. Determine the amount of money you think that you will need to survive the temporary budget cut ahead of cashing in a policy. This solution works great for short and long-term budget cuts in your family.

Get a Loan

When you find loans to help pay the bills and put food on the table it eliminates the need to ask friends and family, which can be embarrassing or lead to problems. You also gain peace of mind because you know that you can take care of your loved ones during these difficult times. Getting money from a loan is fast and easy, and can put all the cash you need in your hands within a few days. Several types of loans can help people with even bad credit. This includes payday loans, signature loans, title loans, and bank loans, among others.


When income changes, re-budgeting should be one of the first tasks completed. Rebudgeting helps you learn how much money is coming in, how much goes out and can identify areas where saving money is possible. Eliminate cable. Cancel those subscription boxes. If only temporary, re-budgeting can make a significant difference in the outcome of your temporary budget strain.

Assistance Programs

An assortment of assistance programs can help pay for rent and utilities, provide you with cash, or help in other ways. However, the demand for services is high. Learn more about available programs in your area and apply early to increase the odds you will be serviced by one of the programs.

Day Labor

If you live in a major city, day labor may provide cash during your times of need. Day labor companies hire skilled and non-skilled laborers to work for one day at a company. Pay comes at the end of the shift.

Ask Friends or Family

Family and friends are there for us in many situations in life, including during financial troubles. If you have someone with extra funds who would not mind lending you cash, and you are confident that you can repay the money, ask them for help.

Temporary budget cuts cause more than loss of finances. For most people, the stress and fear that accompany budget cuts are enough to drive them mad. Eliminate some of that angst by using the strategies above in your time of need. People go through difficult times, but with the right strategy, overcoming them is simple.