In 2013, I took an ill-planned, 5-month excursion of Europe where I couched surfed and stayed with several friends.
I had aspirations of teaching ESL in some Eastern European country and having an adventure.
I miscalculated horribly. I did not have a budget and I did not consider what could go wrong.
For example, I never even considered the currency exchange rate between the dollar and the Euro in 2013. The currency exchange wasn’t in my favor. I lost money the more I spent it.
And I didn’t have a lot of money saved.
Also, I was running out of understanding friends and apartments where I could crash.
I spent about 2 weeks homeless. I have never written about it before. (It also would not be my last brush with homelessness.)
I would hang out in train stations and malls. European security forces frowned on vagrancy so there was always someone to move me along.
It was a terrifying experience. I wasn’t in my home country and I couldn’t depend on the people I knew. They had their own problems after all.
So, I came back to my hometown of New York City and lived on the graces of everyone I knew there.
I can only appreciate how fortunate I was after the fact. My experience could have been a lot worse.
For example, there are people who spend years homeless without any family or financial support.
And with the economic devastation caused by the pandemic many more people and families may end up homeless.
Depending on your situation, there may be few options.
The Pain May be Just Beginning
Since March 2020, well over 55 million Americans have filed for unemployment benefits. In reality, that number could be over 70 or 80 million.
Unemployment benefits for tens of millions started ending earlier this month. That $600 check may shrink by a few hundred dollars and then end.
Most distressingly, the CARES Act legislative protections against eviction end this month as well.
By the end of August 2020, entire swathes of American populations could end up homeless.
What You Can Do
Are you being faced with eviction? You may have a few options.
Negotiate with your landlord or creditor.
You should get a 30-day notice before you are evicted. Depending on your region, your landlord could padlock your door, which isn’t legal.
A landlord cannot physically remove you from the premises.
If you are in arrears by months, have been served an eviction notice, and have no legal grace period to respond, a landlord may be able to get a local sheriff to remove you.
Or, sue you.
If you are in danger of being evicted, start preparing long beforehand. Reach out to friends and relatives for help.
Sell everything possible you can sell.
Be diplomatic and keep lines of communication open with your landlord.
Don’t give into despair and consider every option that may be available to you.
Don’t wait until the last moment to consider what you will do after eviction.
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Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.