What do I pay first?

When people lose their jobs, they should first make a list of their expenses and the money available to them, Mutual Savings Bank President Bob Heuchan said.

That will help them decide what exactly they can afford and what they need to cut or need assistance to pay, he said.

People's top priority should be their home because if you don't pay your rent or mortgage, you will lose your home, he said.

Next, people should consider their needs and what is most important to meet those needs.

If you need transportation, then your vehicle should probably be your next priority, he said.

One way to consider your expenses is what you will lose if you don't pay the bill, Heuchan said.

For example, if you don't pay your mortgage, eventually you will lose your home. If you don't pay your utilities, your lights, heat and water will be shut off.

Next, people should consider selling items they don't need, such as a second vehicle.

That will reduce outstanding payments and help bring in more money, Heuchan said.

"You need to let go of things if that's part of the reason you have some issues," he said.

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