Building an Emergency Savings Fund Can Help Atlanta Workers Survive Job LossSaving Money Today Can Help Chicago Workers Deal With Unemployment Tomorrow

Being optimistic is one thing; being in denial is another. And unfortunately, it seems that millions of American workers are currently in denial about the job market.

It's not that folks are naïve enough to think they won't lose their job. On the contrary, 55 percent of Americans are worried that they could soon be out of work, according to And for one in 10 of us, that worry will come true.

The problem is that - even though we know getting laid off is a distinct possibility - we aren't doing anything to prepare for it. But by not preparing for it, we're making the worst case scenario, well, worse.

Let's pretend you lose your job tomorrow and you have no money saved up. Immediately, you're going to start missing bill payments, putting your home at risk of foreclosure, your car for repossession, etc. Or, if you're like most folks, you'll just use your credit card every chance you get. That's all fine and dandy until your debt gets so high that you can't even afford the minimum payment. And even if you could afford the minimum, paying so little means your balance just grows and grows.

Not let's imagine that you get laid off, but you have three months worth of paychecks saved up. With extra money for bills, food and any other expenses that pop up, you can throw all your energy into the resumes, applications and interviews you need to snag a new job - instead of wasting your energy stressing over how to make ends meet. All of a sudden a once-scary scenario becomes survivable.

Sure, when times are tight it's annoying to have to set aside a little bit of your paycheck each month. But isn't a little pain today - in this case, by saving a portion of each paycheck - worth having a lot less pain tomorrow?

The same goes for lowering debt. If you can manage to pay more than your minimum balance today, you'll have much smaller payments tomorrow - meaning you'll spend less of your money in the long haul. Worried you've got too much debt to pay off by yourself? Bankruptcy can help by offering an affordable payment plan and legal protection. Our Atlanta bankruptcy attorneys can identify a bankruptcy plan that's right for your family's financial needs when you try our free, no-strings-attached personal debt analysis.

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