Government Partial Shutdown Effected Some, While Others Stay Ahead Of The Game


STARKVILLE, Miss. (WCBI)- With the government partially shutdown, some employees don’t have much of a financial safety net.

Their situation may seem unique but it’s not much different than many people living paycheck to paycheck.

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Most people don’t think they need a financial plan for the future, but one emergency can ruin your bank account.

“I think the obvious reason to have a financial safety net is the what ifs in life.”

Financial advisor, Barbara Coats, says the most common problem with budgeting is the unknown.

“I don’t think anybody, no matter how blessed they are or no matter how lucky they are in life, has never had a what if moment,” said Coats. “Things happen, and if you don’t have a safety net where are you going to go? That’s when people get into credit card debt.”

She says, if you don’t have a place to pull the money from when the money doesn’t come from its normal source, getting into trouble is the only option.

“People say I can’t afford to save yet they have artificial nails, they have to drive the nicest cars and have diamonds,” said Coats. “They have the hair color you know all the things that we don’t have to have but we think we do.”

Starkville boutique owner, Rebecca Tabb, knows how to scrimp and save.

In fact, she went through a nine week financial program last month.

“So I thought I was good at budgeting personally and with my business but I really learned that going through the financial peace that I was not budging well enough to actually get the big things that I wanted for the future,” said Tabb.

An emergency plan was never on her radar, but after learning more about money, her mentality changed.

“Everybody needs one because we’re not guaranteed our job position you know tomorrow,” said Tabb.

“It’s not a punishment, it’s really like freedom of saying ‘this is my money, I’ve worked hard for it, and this is where I choose to spend it because this is where I want to get in the future,” said Tabb.

Tabb says her best advice is to find out what’s important to you, and where you want to spend your money and then work hard for it.