The Talk

Now that I have this blog going, it's time to post a new item. This is an important step you need to take if the furloughs really happen and I am pretty certain that they will.You need to gather your family, significant other, girlfriend or whomever you are close to, and have a discussion about a change in finances to make sure they are on the same page. Say something like, "I will be getting furloughed starting in July and it will amount to about 10% of my pay. We will not have as much money to spend as we had before so we need to slow down our spending." Explain that you need to discuss your financial plans for the coming year and think of ways you can reduce. As you work this out with your loved ones, it will make it much easier to adjust to the new pay. That way you can avoid some of the tension that finances cause in a household. You might inadvertently forget to mention the probable 3% raise you should get in July and the 2.75% other raise that coalition MOU members will probably get in January. Of course we are not totally sure about all that, but it's best not to plan for it.

Next time: One of biggest money saving tips for working folks in LA.