Avoid Eviction

Struggling to pay the rent?

Newsmax reports that many landlords and their tenants are barely hanging on due to the consequences of the pandemic. Some forecasts estimate that nearly 40 million people could face eviction in the coming months. Unemployment caused by Covid-19 has stretched renters to the limit. Those without financial margin were unprepared when shut-downs were ordered. Perhaps that’s you! If so, here’s my advice: Analyze your income and expenses. Your housing costs should not exceed 40% of your take-home pay. This includes rent or mortgage payments, insurance, and utilities. Are you spending too much? Then consider moving! Find shelter with friends or family until you can stabilize your finances. Ask God for wisdom!

Next, sell cars, boats, or motorcycles that have payments. Then buy a used vehicle with the cash. Think survival, not what other people may think. A zero-based budget protects you from wasting any dollars. Use every penny to cover bills or deposit directly into an emergency savings account. Temporarily halt retirement savings so that you can increase your cash and create margin. Absolutely DO NOT spend this money except to cover shelter, food, and frugal transportation. Negotiate any bills that you have. Food is a variable expense and one that many families can decrease. Reduce what you spend on food by shopping sales, cooking at home, and limiting eating out. Make a list and never shop hungry!

Act today knowing that the Lord is your portion. Put your hope in Him and seek His help! Decrease your risk of eviction and bad credit by participating in Crown’s online courses. Go to crown.org and click on explore.