January 30, 2023 Breaking News, Latest News, and Videos

Are You a Heartbeat Away from Homelessness?

How worried are you about the possibility of becoming homeless at some point in your lifetime? You probably shouldn’t be too worried. After all, the vast majority of people who ever lived, who will ever live, and who are alive right now will never know homelessness on a personal level. The chances of it happening to you are astronomically small. That is exactly what the vast majority of homeless people used to think. Some were model citizens with good jobs. Many served honorably in the armed forces. Many were happily watching the local news in their suburban home one day and became the local news the next day. 

Some statistics suggest 2% of the population is homeless. Statistics about homelessness are tricky because homeless people do not exactly fill out census data. They don’t have a mailbox to get mail and no door on which to knock. They also are not stationary. They move about nomadically and move in and out of housing when available. There is also the problem of keeping track of the newly unhoused. There is a lot we don’t know about homelessness in America and around the world. But if you want to keep from becoming one of them, do the following:

Get Accident Insurance

When a person loses their job unexpectedly, everything is upended. You might feel very secure in your work and under normal circumstances, you might be. But accidents can happen to anyone, even the most secure people. That’s where short term disability insurance can be so important. 

When you have short term disability insurance, it can be the difference between you having time to fully recover and being forced to return to work long before you’re ready. Economic strain will put you in a position where you have to choose between going back to the office and doing another 6 weeks of physical therapy. 

There is also the fact that your company cannot hold your position open indefinitely. You can find yourself at the end of typical coverage before you are healed. From there, you will have to apply for long-term disability. That is when you will discover a whole new level of hurt. Even if you have some type of insurance, is it enough to cover all your bills while out of work? Once the mortgage starts falling behind, eviction or foreclosure are never too far away. Without a solid plan B, you can easily find yourself on the street.

Emergency Savings

You might think that if the worst comes to pass, you can always find space for your family in a homeless shelter. That is not always an option. As plans go, that is a pretty bad one. What you need instead is a solid emergency plan that is backed by a solid emergency savings fund. Before you start a college fund or a retirement fund, you need to have an emergency savings fund. 

Your kids will not be ruined if you cannot pay for their college tuition. There are other ways for them to continue their education. Most people don’t have a large college fund waiting for them when they pick a university. It is very important that you do some retirement planning while you are young. But your future self is endangering your present self if you fund your retirement before you fund your emergency savings. Six months of rent stored away could be the difference between your family and homelessness. 

Good Credit

Sometimes, a landlord will give you a break if you have good credit with them. That is to say, you have paid your rent on time for years, and always have a kind word for everyone. Your credit score comes into play when you have to try to get an emergency loan to pay your rent. You are going to need more than the occasional kind word. You need the kind of credit score that will not only secure a big loan but do so with a low-interest rate. Good credit can make all the difference in the world.

Homelessness happens to people who never expected it. You might not see it coming for you right now. Keep it that way by securing accident insurance, building emergency savings, and protecting your good credit so it is there when you need it the most.

in News
Related Posts

SMa.r.t Column: Widespread Issues Put Santa Monica in Danger

January 28, 2023

January 28, 2023

Following are 5 issues which, along with homelessness and crime, should take priority over all else in our city’s immediate...

1980s Rustic Canyon Home Hits the Market for $7.5 Million

January 28, 2023

January 28, 2023

Property checks in at over 5,000 square feet featuring five bedrooms By Dolores Quintana A home designed by fine artist...

New Two-Story Commercial Building Proposed for Main Street in Santa Monica

January 28, 2023

January 28, 2023

Project at Marine and Main would replace current parking lot A new two-story commercial building has been proposed for Main...

260-Acre Property Comprising 6% of Bel Air on the Market!

January 27, 2023

January 27, 2023

Last-ditch effort to sell Senderos Canyon spread By Dolores Quintana Bel-Air, one of the most exclusive neighborhoods in the United...

Massive 24,000-Gallon Raw Sewage Leak Closes Local Beaches

January 27, 2023

January 27, 2023

Wednesday leak near Admiralty Way and Palawan Way cause of closures A massive 24,000-gallon raw sewage leak shut down several...

Debris Washed Ashore at Santa Monica Beach

January 27, 2023

January 27, 2023

Debris Washed Ashore at Santa Monica Beach During Last Week’s Storms. @smmirrornews Debris Washed Ashore at Santa Monica Beach During...

Popular Health-Conscious Restaurant Closes Downtown Santa Monica Location

January 26, 2023

January 26, 2023

Flowerchild no longer at 1332 Second Street By Dolores Quintana A popular health-conscious restaurant has shut down its Downtown Santa...

Iconic Roscoe’s Chicken ‘n Waffles Shutters its Pico Location

January 26, 2023

January 26, 2023

LA-based chain to focus on flagship on La Brea and Washington By Dolores Quintana For everyone who loves Roscoe’s Chicken...

Santa Monica Road Rage Incident Results in Shooting and Arrests for Attempted Murder

January 25, 2023

January 25, 2023

Manuel Jaramillo-Heredia and Emilio Reyes were arrested in connection to Tuesday incident By Sam Catanzaro A road rage incident escalated...

Column – A California Positive: Kids Swarm Extra Classes

January 24, 2023

January 24, 2023

By Tom Elias It’s become a cliché, the shibboleth that California has lousy public schools and most of the kids...

New Sourdough Bagel Shop Now Open in Ocean Park

January 24, 2023

January 24, 2023

Layla’s Bagels by chef Sergio Espana (formally from Tartine and Gjusta) has opened a shop on Ocean Park. @smmirrornews New...

Westside Food Bank Struggling to Find Eggs

January 24, 2023

January 24, 2023

Avian flu outbreak and inflation have been driving these shortages Westside Food Bank is turning to alternative suppliers to try...

St. Joseph Center President & CEO Leaving Organization to Lead LAHSA

January 24, 2023

January 24, 2023

25-year veteran of St. Joseph Center will service as serve as CEO of the Los Angeles Homeless Services Authority Dr....

Michigan Man Extradited to Santa Monica for Beach Parking Lot Murder

January 24, 2023

January 24, 2023

Mohamed Abou-Arabi faces murder charges for November killing By Sam Catanzaro A Michigan man has been extradited to Santa Monica...

Million Dollar Listing To Sell Local Luxury Estate: Santa Monica Real Estate Report – January 23rd, 2023

January 23, 2023

January 23, 2023

Property, Developments, And Listings On The Westside.* Million Dollar Listing To Sell Local Luxury Estate* New Data Shows Luxury Brick...