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When Your Income Drops, Liz Gorham

SDSU Extension Fact Sheets

Income loss is traumatic, whether it’s your entire family income or a second income and no matter how it happens—a bad year in your business or farm/ranch operation, company layoffs, downsizing, divorce, illness, or death. Take heart; there are immediate and positive steps to take. You can get back on top. Right now you need to cut back on spending and develop a spending plan to help you pay your bills. If your income will be affected for more than a month, adjust your spending habits to maintain control of family finances over an extended period of time. Financial affairs …