Can a one month salary delay push you to debts as at now?

[Trush Jodie]

There are some of us including myself that have jobs that pay monthly salaries. It is possible for salaries to be delayed for one reason or the other. If your salary is delayed for a whooping one month, would you certainly fall into debts? Or can you survive it?

 

[Suba]

Even though I have never had my monthly salary late, if there is a delay in the salary that I should receive for one month or more, I am not too worried or have to take out a loan, because I already have emergency reserve funds for at least 3 months of living expenses.

 

[pousinha]

I can survive because I received an inheritance from my parents (please, don't dream, not a millionaire inheritance ), but when your salary is the only source to live you have, obviously a loan becomes unavoidable. It often happens to many people in Latin America.

 

[Suba]

That is why financial experts strongly recommend that under normal circumstances we should save an emergency fund even if it is only 5% of our income, so that if there is a delay in salary or even termination of employment/fire, the financial condition is not too shaky at least for a few months.

 

[gwolf666]

That depends on each person's economic situation. If you don't have any kind of savings, then, that's precisely why you're supposed to have your savings, to prevent these kinds of things from happening.

 

[Augusta]

A one month salary delay will noy push me to debts as at now. This is why I always save my money as much as I can.

 

[Springtime]

As I have savings and emergency funds, I should have no problem if there is a delay of receiving salary for a month.

 

[eLdavis]

I honestly can't say, if i have some savings before now then i should be able to survive, but in a situation where i don't have one I won't be able to.

 

[King Belieal]

If I don't get to earn for one month from my main business, I would always fall back on the alternative side hustles. I won't just enter debts.

 

[Augusta]

This is why it is always important to save money . you would avoid getting yourself into issues

 

[Nomad]

No, I have enough savings to pay bills for months even when I am not earning any thing. I have built an emergency funds

 

[Kross]

I won't fall into debts for a delay in salary on my main income. I have other side hustles that would keep me afloat till I am paid.

 

[Augusta]

Anyhow we see it we just have to always try to save money. This is the only way we can live above debt almost all the time

 

[Min George]

I won't enter debts because of salary delay. I always have foodstuff for three months stocked at home. And I have savings that can cover transportation and bills.

 

[riberet19]

No, I've never had that problem, as I make an effort to have my savings and my investments; to this day, it would not be a problem at all.

 

[Augusta]

That's the way to go. it is good to always keep your financial life secured. So that you don't go broke all the time