Ask Chuck: Recovering financially from the hurricanes

Dear Chuck,

The company I work for was destroyed as a result of Hurricane Helene. We are surviving, but things are very tight financially, and we are emotionally overloaded. What should we do to work our way out of this crisis?

Surviving, Not Thriving

Dear Surviving, Not Thriving,

Many people are trying to navigate the trauma of Hurricane Helene and now Milton. I am so very sorry for your loss but grateful that you have survived and can begin to rebuild your lives.

The destruction we have witnessed reminds us that everything man has or can build is very, very temporal. It reminds us to do what God said:

“Set your minds on things that are above, not on things that are on earth” (Colossians 3:2 ESV).

Overwhelming needs

The horrific destruction so many have experienced in the past 30 days has created many levels of need, so for this article, I will focus only on five steps for starting a crisis budget.

Before you begin, ask God to help you steward the limited resources you have right now. Do not worry about the future. Instead, live one day at a time. Help guard your emotions by focusing on the present. The future is in God’s hands. Cling to Him. See Matthew 6:25–34.

Resolve not to dwell on your loss but to be grateful for what you have. Turn each temptation to grumble into praise. It helps to begin and end each day with thanksgiving.

Ask God for wisdom to stretch every dollar and for ways to increase your income and decrease your expenses. Read the Bible and ask Him to impress upon your heart His financial principles.

How to implement a crisis budget

Step 1

Determine your current monthly income:

• What was your total monthly income before the crisis event? Include all sources, like Social Security, alimony, disability, child support, etc.
• Subtract the lost monthly income.
• Add new monthly income sources, like severance, unemployment benefits, available savings, etc.
• The resulting total is your adjusted monthly income.

Step 2

Make two written commitments:

• First, commit to live on your new adjusted monthly income.
• Second, commit to incurring no new debt.

Step 3

Prioritize essential needs:

• Housing, food, transportation, and medical expenses should take top priority.
• Stop discretionary spending, and focus on what you must have to get by.
• Continue giving to the Lord. Honor and trust Him.

Step 4

Delay all non-essential expenses:

• Put off buying things you do not need.
• Operate in a mode to survive as long as possible until you can get your income reestablished.

Step 5

Analyze monthly subscriptions:

• These adjustments may be temporary or permanent.
• Drop unnecessary subscriptions and streaming services.

Step 6

Ask others to join you:

• There is strength and encouragement in working as a community. Many will be in the same condition as you. Start a group to support and pray for each other.
• See Ecclesiastes 4:9–12.

How to live post-crisis

I pray that your company will be able to reopen for business soon and can help you with supplemental income needs. Consider asking for help from your church or family as you seek reemployment and wait on the Lord to provide.

Take the lessons you learn and the habits you establish to steward wisely from here on. Allow God to use you to minister in the lives of those He puts in your path. And remember to give God the glory for every victory — no matter how small it seems.

Here are some helpful resources at Crown:

https://www.crown.org/all-resources/7-steps-to-recover-from-a-crisis-2/

https://www.crown.org/get-help-now/?section=with-your-money-and-finances#section-one

If you need outside support to implement your new budget, Crown’s online Budget Coaching program matches you with a certified coach who will work with you to develop a customized plan and provide much-needed encouragement while you rebuild your lives.