COVID-19 has caused many families to realize the importance of planning for a rainy day

When the COVID-19 pandemic hit Tennessee, the lives of many families were quickly affected financially. Even now, families continue to suffer personal financial disasters after the loss of jobs and steady paychecks.

As a result, one of the big takeaways from this crisis has been and will continue to be, the importance of planning for a rainy day. There is no denying that this situation is an emergency, and without an emergency fund, most families are forced to reach into savings, take out loans, or run up credit cards. Experts advise that if you don't have an emergency fund already set up to cover expenses for a few months, start one as soon as possible. Now is also the time to revisit the family budget, adjusting where necessary and finding ways to divert some money into an emergency fund. Areas where families can often cut include: 

• Cut back or bundle phone and internet services.
• Watch what you eat. 
• Consolidate your debt. 
• Reduce electricity use. 
• Grow a garden. 
• Stop smoking. 
• Reduce insurance premiums. 
• Be mindful of number of car trips. 
• Watch what you're buying. 

If you feel your finances have just spiraled out of control and are looking for advice, debt resolution, and legal remedies, we can answer many of those questions for you. Contact us for a FREE CONSULTATION for debt resolution and/or bankruptcy at (731) 423-1888. The law office of T. Verner Smith has helped thousands overcome financial problems, and can help you too. Call today!