5 Steps to Preventing A Personal Economic Crisis

Lighthouse of Oakland County helps more than 16,000 individuals move from crisis towards self-sufficiency each year. They have teamed up with PNC Bank to help prevent personal economic crises through public education. Lighthouse CEO Rick David said, "In order to be self-sufficient, you should always have a plan because things will go wrong at some point and you may face a potential economic crisis. That's why I'm glad to have the support of Ric DeVore and PNC Bank in developing our 'Five Steps to Preventing an Economic Crisis Campaign.'

"PNC is a Main Street bank dedicated to helping its customers, employees, shareholders and communities prosper," said PNC Regional President Ric DeVore. It's our goal to help people not only maintain financial stability in an ever-changing world, but also flourish. A plan is essential to averting the financial curve balls life can throw your way."

*Five Steps to Preventing an Economic Crisis by Lighthouse of Oakland County & PNC Bank

1) Create a monthly budget - and stick to it.

2) Pay yourself first. Aim to save 10 percent of your earnings month. Have an emergency fund for unexpected expenses. Replenish it as soon as you use it.

3) Scrutinize your bills and find ways to minimize your expenses. Pay off credit cards.

4) Always keep your network activated. Keep your resume and social media profiles updated. Keep in touch with your network consistently - don't wait to lose a job until to reach out and touch someone!

5) Stay active! Volunteer while you're employed and especially when you're not. It will elevate your self-esteem and may open doors - and there is no shortage of great causes that need your help!