Soooo, how about this recession eh? I recently found out that my entire work site is shutting down. I had suspected that it might happen for a while, but now, it's been made official.
Since the time of the announcement, they said we've got about six months. I guess I took a little bit of time for it all to sink in, sort out my thoughts, and decide on a plan of action.
Well, the second I heard, all non-essential spending stopped. On the spot.
Also, I've already reviewed my budget. For better or worse, I've been largely frugal, so there isn't much to cut back. I suppose I can decrease the internet, eliminate Netflix, and cook more at home. But beyond that, bills like gas, electricity, and phone are already running at its bare minimum. Overall, I'm pleased to have been able to run a tight ship on my budget.
I've got between now and then to find another job. Given this economic climate, it won't be easy, but hopefully, I'll find something and it won't interrupt the income flow.
If it does, as you know, I've been plugging away at my emergency fund this entire time. Right now, I'm probably good for 6 to 8 months, but I want to be 1 year ready by the time shutdown completes.
Worst case, there's always unemployment benefits.
Overall though, I think I'm actually in a good shape to absorb the impact of potential unemployment. It's nothing like going through my financial situation during the divorce. Wow, looking back at it, I'm shocked that I even managed to get through that with any semblance of a financial picture....
But I did, and this time, I am much better prepared for any financial bumps that may lie ahead....
And yet, you know, it's a funny thing. Despite all the readiness and being healthy on the numbers, the very prospect of not having income fills me with utter fear. Isn't it funny? I think it is. I guess the difference is that I just didn't know better back then, but I do now.
By the way, to my ex and those related to her, I highly recommend that you do not gloat over this under the guise of "concern" for the children or even me. This sort of thing will make me a lot more adversarial than accommodating, I assure you. The children will be fine when they are with me. (She did that to me once, and I don't want to put up with that a second time.)
Uh, I don't want to end this with such a downbeat note. All-in-all, I am grateful for the job because it provided the much-needed stability during my transition through divorce. But the truth is, my current job is also getting a bit long in the tooth anyway, and it's time to move on. I just wish it wasn't forced, but that's life sometimes.
Now, for something completely unrelated, does anyone know if you can crockpot wild rice for 8 hours? I've been wanting to try an Italian chicken recipe, but it'd be great if I could somehow cook the rice along with it. Or is it still better to cook it separately?
My turn
November 20th, 2009 at 02:15 pm
November 20th, 2009 at 02:19 pm 1258726795
November 20th, 2009 at 02:49 pm 1258728591
Sorry to hear about the impending job loss, but the time you have will allow you to prepare for unemployment and hopefully land another gig. I think your outlook will serve you well! Best of luck to you!
November 20th, 2009 at 02:54 pm 1258728882
November 20th, 2009 at 03:27 pm 1258730861
November 20th, 2009 at 03:59 pm 1258732764
November 20th, 2009 at 04:20 pm 1258734040
Good luck.
November 20th, 2009 at 04:30 pm 1258734602
I am sure though with how careful you have been you will be fine and get a new job long before the money runs out
November 20th, 2009 at 04:51 pm 1258735871
November 20th, 2009 at 04:57 pm 1258736221
November 20th, 2009 at 05:10 pm 1258737024
November 20th, 2009 at 05:26 pm 1258737963
November 20th, 2009 at 05:48 pm 1258739335
November 20th, 2009 at 05:51 pm 1258739514
November 20th, 2009 at 06:33 pm 1258742007
November 20th, 2009 at 07:22 pm 1258744943
Also find out if you can get temp work while you are job searching (without losing benefits). I did that and although I had to report the earnings (and not get benefits during the weeks I did work) doing so extended the benefits. My 9 months of benefits ran out about the same time I got a new job 15 months later. The temp work helped my confidence, my finances (I was getting money from somewhere all 15 months), and I think helped with my job search.
November 20th, 2009 at 10:15 pm 1258755318
November 20th, 2009 at 11:45 pm 1258760738
November 21st, 2009 at 12:01 am 1258761715
November 21st, 2009 at 05:31 am 1258781498
November 21st, 2009 at 07:09 am 1258787378
The unknown and unemployment is terrifying, but strangely its terrifying only at the beginning - after awhile, its dead boring mostly. Either way at least you'll have savings to get through it ... and even better, the frugal skills to stretch the savings you do have.
I've never tried crockpotting wild rice, but wild rice is even sturdier than brown rice. If I'm making a soup and want to add rice, I use wild rice because it keeps its shape so well. IMO, your chances of success are good.
November 21st, 2009 at 01:49 pm 1258811358
I have such mixed emotions about being out of work. Honestly, if i didn't have to for the money, i'd love never to work f/t again, but that's not an option right now. I have moments of anxiety interwoven with feelings of peace and contentment, which sounds bizarre, but I guess after nearly 30 years of working, i'm tired of office politics, having to follow a fixed schedule dictated by someone else and driving home in the dark in bad weather.
November 22nd, 2009 at 06:00 am 1258869657
November 24th, 2009 at 04:42 pm 1259080925
November 26th, 2009 at 07:49 pm 1259264980
2. You are going to be able to handle this so much better than so many of your colleagues who do not have the EF or the PF skills that you do. The EF combined with unemployment (don't hesitate to apply for it) and I think you are probably covered for well OVER a year.
Is your childrens' health insurance through your wife's employer or yours?
I really hope that in a year from now you can look back and be thankful for what you are going through, because your life will have taken a turn for the better as a result the layoff.
Happy Thanksgiving, BA.
November 27th, 2009 at 02:54 am 1259290450