1 post tagged “unemployment”

Practicing for the worst

Twice in my working life I've worked on projects that came to an abrupt halt and all the folks working on them were sent out to look for new jobs. I find myself in a similar situation now as well. The difference is that, this time, instead of waiting to be pushed, I jumped.

There is something different about taking the situation into your own hands--you're left with your self-esteem. For what that's worth. It certainly ain't paying my bills and I remember now how it was the first two times, financially.

So I thought I'd pass on the useful things I've learned about daily living when you're in the process of being laid off or have been. These aren't Big Things about investments or consolidating debt or anything like that. It's just day-to-day stuff that I've found helpful. These tips may work better for an individual than for a family.

If you can start on them while you still have a job, all the better.

Spendless days
First up: You should practice for not having any money. Seriously! Even if it seems unlikely that you'll have to go without altogether, that situation happens a lot more often than you might think so you'd better have had some practice.

Designate one day a week as a spendless day. I don't just mean that you spend less, but that you spend nothing. You know, like on carless days in the oil crisis, you didn't drive your car. Is it possible to go through a day without spending any money at all? Better find out how to do it, because someday you might need to.

Coupon living
Pay for necessities in advance of needing them. Pay for treats in advance as well--ten-trip movie tickets, for example. This works on just the same principle as buying a monthly pass for your transit or giving someone a gift card. It's not the same thing as stocking up on a huge supply of stuff.

Is there a supermarket chain near you that allows you to load up a prepaid card you can use only in their stores? Do so. That way your food money is locked off in a place where you can't spend it on anything else. And that way you still get to go to the supermarket and maybe buy a few things on whim instead of just going to your own store of stuff you bought in bulk and can't stand the sight of any more.

Pile up the pennies
Throw every penny you get in change into a shallow dish and at the end of each week pile them up in stacks of ten. Leave the piles out on the bench or somewhere you can see them every day. Watch them grow.

Remember this: They are pennies, for heaven's sake, and they're not worth a dime--if you'll pardon the pun. A penny saved is NOT a penny earned. It's a penny, and you'll be scratching around at bus stops for them if you don't learn to curb that natural inclination to run up some more debt or buy that pair of shoes you don't actually need but it would be nice to have.

Yes, look at those piles of pennies every day and remind yourself that that might be what you're living on in the not too distant future if you don't get your spending in hand.

Walk
There are few things that have as much impact both on how you feel and your bottom line as walking. Walk for the exercise and to clear your head of that whirling panic that sets in at the very thought that you might soon be without a job. Walk to the supermarket, to the park, to the library, to a neighbor's place. And leave your wallet at home while you're doing it.

Garden
Start growing some food. If all you have is a balcony, get one of those 19 gallon tubs you put ice in for drinks and fill it up with potting soil and fertilizer. Plant some seeds. Greens, carrots, lettuce, all manner of good food will flourish if you take care of the plants. If your only source of sunlight is a window, then grow herbs in a window box.

Cut back
Start gradually cutting back on everything that you pay for monthly. Practice using less electricity, fewer minutes. Get fewer pay-per-views and on-demand material from your cable or satellite company. Just make an effort to cut back in anticipation of maybe going without altogether further down the line.

In summary
Underlying all of this advice is only one thing: Take control.

Take control of your spending thoughtlessly by having spendless days.
Take control of your spending on necessities by using the coupon strategy.
Take control of your wishful thinking by piling up those pennies as a reminder of what you might end up living on.
Take control of your physical and mental health by walking.
Take control of your food supply by gardening--even a few fresh herbs give you a sense of accomplishment.
Take control of your monthly bills by cutting back.

Life is full of challenges. This is just another one of them.

(First posted at Bayosphere on 8/4/05)