Financial Tips to Do Better

You should be saving money up for the holidays, or for the cold winter months creeping in, but life has a way of throwing financial curveballs at you when they'll hurt the most. Your car starts making a mysterious noise you can only ignore for so long, the washing machine begins flooding, or a tumble down the stairs from tripping over your own feet leads to a crippling medical bill.

It's hard to contend with unexpected bills that strain your budget, but when they stem from something outside of your control, like the government shutting down, it feels even more unfair.

Thousands of federal employees are suddenly facing furloughs or delayed paychecks while everyday expenses continue to mount. If you’re in this position, you’re not alone. Fortunately, there are steps you can take right now to protect your finances during this uncertain time. Not a federal employee? These strategies can help you out with ANY financial setback that life brings your way.

How Do You Navigate the Unknown?

It's hard to plan for the future when you don't know when your next paycheck will arrive. While a short delay might mean a few budget tweaks, if the shutdown lingers on, it can create significant financial hardships. These steps will help you to act early and stay organized as you deal with diminished funds.

Step #1: Review All Your Available Funds: Review your checking and savings balances to see how long that money can cover essential expenses like your mortgage, utilities, and groceries.

Step #2: Evaluate Your Investments Carefully: It can be tempting to pull from retirement accounts or other market-based investments, but doing so might trigger taxes or penalties. Plus, if your accounts are down, withdrawing now could result in a significant investment loss.

Before touching any funds invested in the market, especially tax-advantaged retirement accounts, it’s wise to speak with a financial advisor to ensure you understand the full impact of that decision.

Step #3: Revisit Your Budget: List every expense for the next one to two months. Include everything from loan payments and insurance to subscriptions and utilities, which you can check easily with the Spend Analysis tool in Digital Banking! Any expense that you can temporarily stop or cancel will put you in a better financial position. Most non-essential costs, such as streaming services, allow you to pause your subscriptions.

Need more tips about how to scale back your budget? Read Empower Your Future: Invest In Yourself and Unlock Financial Freedom to get started!

Step #4: Contact Your Lenders Early: Many people facing financial challenges are often reluctant to ask their financial institution for help. Some may feel embarrassed, while others hope things will turn around before their due date arrives.

If you think you might miss a loan payment, your best option is to reach out to Atlantic before your due date. If you're concerned about existing loan repayments, please reach out to our Member Solutions team by calling 855-319-7355 or texting 207-835-8995. We care about your story and will do everything we can to help.

Depending on your situation:

• Members who have not been paid due to the shutdown may qualify for a 12-month loan at 0% interest* for up to 1x monthly pay. 

• Not affected by the shutdown, but feeling the strain of everyday expenses? Enjoy peace of mind with 0% interest**, predictable payments, and flexible terms with our Black Friday Special! Apply now through December 5th, 2025.

• Qualifying members can also skip their monthly consumer loan payment(s)*** for November, December OR January. Your Choice! You can skip your monthly loan payment in Digital Banking by Atlantic.

Bridging the Gap

We live in unprecedented times, and no one knows when the shutdown might end. Every day without a paycheck can feel like an eternity for workers. Even when navigating a short-term financial setback, a few minor adjustments to your finances can provide immediate and lasting relief.

• Consolidate High-Interest Debt: Qualifying members can combine multiple high-interest credit cards and payday loans into one lower-rate personal loan which can free up cash immediately and reduce the total amount of interest you pay.

• Transfer Balances to a Lower-Rate Card: Transferring high-interest credit card balances to a lower-rate credit card is a quick and easy way to instantly put more money back in your pocket and reduce your outstanding balance faster.

• Rebuild Your Emergency Fund: Once the shutdown ends, begin rebuilding or strengthening your emergency fund. Even small deposits regularly into a separate savings or money market account will add up over time - providing an essential rainy-day fund should other financial curveballs come your way. Not sure how to build an emergency fund? Check out our Financial Tip to Do Better, Be Prepared, Not Scared: The Power of an Emergency Fund.

Finding Financial Stability Again

Recovering from any financial setback takes time and patience, but every proactive step makes a difference. Keep communicating with Atlantic, monitoring your credit report (made easier with SavvyMoney in Digital Banking!), and updating your budget as things change. By staying involved and informed, you’ll minimize long-term damage and keep your goals within reach!

TLDR:

Facing financial uncertainty during a government shutdown? Take proactive steps to protect your finances: evaluate your funds, avoid dipping into investments prematurely, and revise your budget by trimming non-essential expenses. Once stability returns, focus on rebuilding your emergency fund for future security. Stay informed and collaborate with Atlantic to manage financial challenges effectively.

We’re Here to Help!

We understand how challenging it can be to navigate the government shutdown and its effects on our community. Whether your income is paused or you’re facing another financial challenge, our team is ready to help you explore relief programs. We can also help you review existing loans, consolidate higher-interest debt, or adjust payment schedules until things return to normal.

If you want to learn more about our relief programs or have questions about using a home equity line of credit as a financial lifeline, we’re happy to help. Please stop by any of our convenient branch locations or call 800-834-0432 to speak with a team member today.

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The Atlantic Financial Tips to Do Better strives to deliver informative, relevant, and sometimes fun financial information. If you enjoyed this article, please forward it to a friend.

Each individual's financial situation is unique, and readers are encouraged to contact the Credit Union when seeking financial advice on the products and services discussed. This article is for educational purposes only; the authors assume no legal responsibility for the completeness or accuracy of the contents.

*To qualify, you must be a member of Atlantic Federal Credit Union in good standing. Members must also be actively employed with the US government and proof of furlough may be required. Other conditions may apply. Maximum loan term of 12 months. Maximum loan amount is 1x monthly net pay or $5,000, whichever is less.

**The Black Friday Special is for a total amount of $3,299 with 18 monthly payments of approximately $184 which includes a one-time Pre-paid Finance Charge of $299 or $5,499 with 18 monthly payments of approximately $306 which includes a one-time Pre-paid Finance Charge of $499. The Effective Annual Percentage Rate is approximately 12.23% and 12.25% respectively and dependent upon the loan payment due date. Loan is subject to approval. Certain terms and conditions apply, contact Atlantic Federal Credit Union for more information. Membership or eligibility to join Atlantic is required. The Black Friday Special is only available November 3, 2025 through December 5, 2025.

***There is a $30.00 processing fee per deferment. Interest will continue to accrue on unpaid balances through the skipped payment period which may result in additional interest/finance charges than was originally disclosed. The payment made on the loan after the skipped payment will be applied first to interest, then to principal. Skipped payments are not forgiven or cancelled and will result in an extension to the maturity. All other terms and conditions of the original loan agreement remain unchanged. Loans must be paid for the 6 consecutive months preceding Skip-A-Pay request, and cannot be past due at the time of the request. Personal Lines of Credit, Lease like loans, Commercial Loans and all real estate loans (Mortgages, Manufactured Home Loans, Home Equity Lines of Credit, Home Equity Loans, etc.) are not eligible. All forms are subject to program eligibility review in accordance with the rules. Skip-A-Pay Forms should be received at least five business days prior to loan due dates. Must sign up for Skip-A-Pay by 1/23/26.