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My turn

November 20th, 2009 at 06:15 am

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?

25 Responses to “My turn”

  1. gamecock43 Says:

    you are handleing the news well. Cant wait to hear about adventures in job hunting!

  2. momcents Says:

    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!

  3. Caoineag Says:

    Good luck job hunting! At least financially you are well prepared!

  4. buddy Says:

    Regarding the crockpotting wild rice for 8 hours--couldn't hurt anything. You'd have to make sure to have enough liquid.

  5. miclason Says:

    OH, BA, look at it as a wonderful new opportunity! The fact that you have your EF means you won't be desperate in your job search and, will probably be able to find something much better! Good luck job hunting!

  6. merch Says:

    I agree with Miclason. Look at this as an opportunity to focus on what you really want to do. Maybe take a little vacation. Even though this is forced on you, you can reassess where you are and the next steps.

    Good luck.

  7. PrincessPerky Says:

    Oh sorry to hear your employer is closing down Frown. Having divorced issues always makes it worse.

    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

  8. Joan.of.the.Arch Says:

    Re the end of the job-- darn it! Re your preparedness-- thank goodness! Re the rice-- Dunknow.

  9. frugaltexan75 Says:

    I'm so sorry to hear this BA. It's good you have time to consider your options and are prepared financially.

  10. lartiga Says:

    Although the fear of the unknown can rattle any one of us, your positive attitude does shine through, BA. You've got the wheels turning and I think you will OK. You will get through this and come out ahead. Good luck!

  11. daybyday Says:

    Wow...sorry to hear that, BA. Great job building up that cushion for situations such as this. Best wishes on the job hunt!

  12. wowitsawonderfullife Says:

    Hey BA, that happened to me 11 months ago. But I received a large severence. I took some time to do my bucket list and I am much much better now that I did. You may not want to take a long time but if you can chill for even a few weeks after the company closes it will recharge you. Good Luck!

  13. savingsaccountfinder Says:

    Very sorry to hear the news, but your lifestyle up to this point does give you the opportunity to have a lot more flexibility than I'm sure many others have in your position and that is something to give yourself a pat on the back for. Although all change is scary, it's also an opportunity. If the job was getting "bit long in the tooth anyway" it's a good opportunity to find something that you enjoy more. Best of luck in the job hunting.

  14. Ima saver Says:

    So sorry to hear this BA. My husband's work is really slowing down and I know this is a bit scary! I am sure you will find a great new job! Good luck!

  15. bennyhoff Says:

    Thats always terrible to hear. The best you can do is look at the positives: You won't be going through a divorce while getting laid off and by having some warning you can try to either get another job or figure out what you can do with your free time. Is there anything you wanted to do recently, but didn't have the time?

    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.

  16. creditcardfree Says:

    What a blessing to have advanced warning of a layoff! I'm sorry to hear the news, but know that you are in a good place to handle it. Best wishes for finding new employment soon.

  17. shiela Says:

    Sorry to hear about this. I'm sure you will be fine. Good luck finding a new job.

  18. Purple Flower's Says:

    Sorry to hear about the job loss. I hope you find another job soon! Take care.

  19. Waterfall Says:

    I'm sorry this has to happen. Luckily you're bright and (I'm sure) very talented and will be wowing another company soon. Until then, keep posting. The moral support you get on here is great!

  20. baselle Says:

    I'm sorry to hear about the job loss. It sounds like you've made hay while the sun shines in previous years with your 401K, so you have good practice for getting that EF in shape over the next six months. Single guy's advice is good; also explore every bit of government help esp with the COBRA.

    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.

  21. fern Says:

    Sorry about the job loss but those 6 months will be a real cushion for you, emotionally and financially, to try to get going with something else.

    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.

  22. lizajane Says:

    Ugh! Sorry to hear about the job, but having the advance notice is nice. It gives you time to prepare and plan while you still have income rolling in. When one door closes, another one opens... I often think about seeing my life story in a book, and how the changes like this can be either "Chapter X" or they have the potential to become bigger and more important, like "Section II", where you know something VERY different is coming up. (And now, darn it, my unwritten, boring life story will never make it to Oprah's book club!!!)

  23. CB in the City Says:

    Just catching up, BA. I'm sorry about your job, but I know you will come out on top; you have so many inner resources, as well as your outer resources. Thank goodness for the EF!

  24. scfr Says:

    1. That sucks!

    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.

  25. Broken Arrow Says:

    Thank you everyone. Those are very kind words.

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