Is it time to PACK to survive the Covid19 crisis?

​Many families are using the PACK system during the Covid19 crisis. 

PACK is an acronym for POSTPONE, AXE, CUT-BACK, and KEEP.   If you're still waiting on money, or it came and went.....the PACK system can be a smart way to hang on a little longer.

This financial exercise may open your eyes to areas in which you can find some relief.

Simply put, the P in PACK is:

• 'POSTPONE' - go through your expenses and see what you can postpone, such as any household projects you had planned, any trips, any new large purchases, etc.  The A is...
• 'AXE' - what do you have that you can just flat out cut? Memberships, subscription services, things that were frivolous add-ons that you can AXE for now. C is for...
• 'CUT-BACK' - what areas can you cut back in? Cook instead of ordering out (if that's cheaper) for example. and K is for...
• 'KEEP' - those are expenses you just can't change: rent, utilities, etc.    

So literally grab a note pad, and along the left column, write down P-A-C-K, and start listing items that fit those criteria. Many families find that getting those items on paper can open your eyes to your situation as well as possible options. Utilizing this concept may help you find ways to get through a few more lean weeks.

If, however, you determine this crisis has created a financial situation you feel is out of control 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!