It is so important that we keep our eyes on these job losses because it is a sign that all is not right on the financial home front of this country. When the biggest names in business, Houghton Mifflin Harcourt, AT&T, Random House, Inc. HarperCollins and Pearson begin mass layoffs and freezing wages, that’s when we know we need to get our own financial house in order.

According to The Dallas Morning News, Random House is consolidating its business which will cause more job losses. Pearson is freezing wages of all employees worldwide who earn $50,000 or more. Other big businesses are also experiencing job losses. That means more pressure on families, consumers, budgets and the ability to pay for mortgages, credit card bills and even taxes.

How many people do you know who can afford to have their wages frozen? Many ordinary Americans depend on those small yearly increases just to make ends meet. How many people do you know who are just one or two paychecks away from bankruptcy? Or worst? Now is the time to make an assessment of your financial house.

If you experienced a job loss today, how long would you be able to pay your mortgage? How long could you avoid foreclosure ? If you answered a month or two and you have large amounts of debt, you may want to consider your bankruptcy options or at least credit counseling before a crisis hits. This is not the time or economic environment to take risks with your financial future. Use the tools available now, to help build a sufficient financial safety net for you and your family.