Last week on Take Control Tuesday, Mansa Musa and I started a new series called Survive, Stabilize and Recover. We talked about what to do when your money simply isn’t enough to cover the basics.
This week, we’re moving to the next step: stabilizing your finances.
Making it through one month is important. But what happens when the same shortage shows up again two weeks later? Mansa says the goal is to create some breathing room and keep a temporary struggle from becoming a bigger financial crisis.
Highlights From Our Conversation
- Find out how much you’re coming up short. Start with your take-home pay and compare it with your essential expenses. For example, if your household brings in $2,500 a month but needs $3,000 to cover necessities, you’re facing a $500 gap. That shortage can drain $3,000 from your savings over six months.
- Look beyond your paycheck. Review all the resources available to your household. Could someone bring in additional income? Does anyone qualify for food assistance, utility assistance or other benefits? Mansa suggests calling 211 to learn about available help.
- Don’t let embarrassment keep you from getting assistance. We often talk about the importance of giving, but receiving is part of that exchange, too. Mansa points to Matthew 25 as a reminder that helping people in need matters to God. Sometimes you’re the person giving. Other times, you’re the person who needs help. There’s no shame in either position.
- Reduce costs that make the shortage worse. Late fees and overdraft charges can take even more money from an already tight budget. Contact credit card companies, car lenders and utility providers. Ask whether you can move due dates closer to payday or arrange payments around your income schedule.
- Build support within your household and community. Sharing the cost of groceries, utilities and other necessities can help everyone manage. Mansa also points to Acts 11, where believers collected supplies to help others facing a predicted famine.
One thing Mansa wants us to remember is that stabilizing starts with understanding the shortage, using the resources available and reducing avoidable costs.
Every dollar you preserve gives your household a little more breathing room.
And remember, this series isn’t about judging anyone’s financial situation. It’s about finding practical ways forward, one step at a time.
Visit TakeControlTuesday.com to explore our archives and share these conversations with someone who may need them.
Listen To Our Conversation Below
