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Coping with the financial effects of wildfires will take planning

CCPL offers strategies and financial coaching for people feeling the financial effects of wildfires

Kirsten Stark

Special to the Tribune/Advisor

In addition to the fear, anxiety and stress that wildfires bring, many people will also be experiencing financial challenges due to the disruption of our normal routines.

If you were or are evacuated it is likely that you experienced additional living and travel expenses.

If you were or are not evacuated but living on alert, you may not have been able to work due to an order affecting your workplace or small business.

The bottom line is that most of us have or continue to experience increased living costs and reduced income.

The situation could remain volatile for a while longer, so it is a good idea to get a grip on your financial situation now.

Take steps to avoid unnecessary costs and develop your own financial recovery plan.

First things first, figure out where you stand.

Are you able to make all your regular bill payments on time and in full?

If the answer is no, then it’s time to prioritize and make some phone calls.

Top priority should be covering your costs for shelter (rent or mortgage, utility bills) food, transportation and communication.

If you think you might be late making some payments be proactive and try to work out what you will be able to pay and by when.

Secondly, assess your situation.

Will things be back to normal next week or next month?

This will be different for everyone and will likely be dependent on your ability to work, your financial commitments and whether or not you are still being affected by an evacuation order.

Maybe you had to take on some extra debt or use up some savings to cover additional costs.

Third of all, make a plan.

It doesn’t have to be the best plan or most accurate plan, but make one anyway.

Also make a detailed budget for your personal finances over the next three months and a less detailed one for the next year.

It might be necessary to make some temporary lifestyle adjustments in order to get your finances back on track.

Finally, do your best to stay on track.

Modify your plan and budget as you need to and try to achieve your own financial recovery as quickly as you can.

If you think you need some help getting started, contact kirsten@caribooliteracy.com for free and confidential advice, resources, one to one financial empowerment coaching sessions or small group workshops.

Alternatively you can phone our main contact number 250-945- 4199, leave your name and number and one of our staff will contact you.

Kirsten Stark is the community outreach worker with Cariboo Chilcotin Partners for Literacy which provides assistance to people in various ways including free coaching on financial issues, use of computers, tutoring in English language and writing skills, providing free books for children and more.