Face to Face with Financial Ruin—8 Things You Must Do to Protect Yourself and Your Family

8. Cancel Unnecessary Memberships and Subscriptions

Cancel Unnecessary Memberships and Subscriptions

When a ship pitches and rolls dangerously in a storm, the decision to throw cargo overboard to right the vessel is sometimes the only thing to do. While your previous life may’ve been filled with gym memberships, premium channel TV, and snack-of-the-month club, you no longer have the funds to support these things. Suspend any and all memberships and cancel unnecessary subscriptions to magazines, gaming sites, movie networks and recreational facilities. These are secondary expenditures paid for with disposal income that will have to go on hold for the time being.

When life takes us somewhere we don’t want to go, we have to deal with our circumstances head on, create a new temporary norm, and work within it. While it may take some time to better our financial position, we can take the steps necessary to protect ourselves from complete financial ruin.

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