Dealing with Money Problems

Ok, let's face it rig life is great when the rigs are in full tilt and going stong but it is not quite so fun when break up rolls around and your rig is racked for 2 or 3 months. Sure there is rig repair and odd jobs you can do to make a little extra cash but that doesn't always cut it.

What can you do to prepare for the down times? Well the obvious solution is to save for the future while the present is good. In other words create a little savings to get you through the slow times.

A great way to do this is to figure out your monthly living cost. Include all your utilities, mortgages and other loans or credit cards. Multiply that amount by 3, so you are in the position to get through 3 months down time. Then divide it by the amount of paycheques you expect to recieve before the slow times come. If you have been on the rigs for any amount of time you probably more or less know what time of year your rig shuts down and for how long it is usually down for.

You may find yourself in a situation where the bills have piled up and you are so far behind that you think you will never see your way out. If you do don't panic and definetly don't feel bad about it. You are not the only one out there that has been overwhelmed with bills and debt. If you do find yourself in this position there are many options out there to get you out of a bind.

You can always try and consolidate your debts in to one loan to make things a little bit easier to handle. You can also look in to credit counseling in canada and see what they have to offer that might help you out.

The main thing is to remember you are not alone and there is always light at the end of the tunnel. Don't let money problems get you down just keep going and do what you can when you can.