Most of us don't have 6, 9, or 12 months of living expenses saved up if we lose our jobs. Gosh, how much would that actually be…a year's worth of living expenses is a lot! The reality is that most mid level career seekers will be spending 6-12 months searching for their next job right now.
Look at this problem backwards. If you will be out of work 12 months, how much money will you need to survive? How much are you collecting from unemployment and how long will that last? There's a gap right? You need to find a way to fill in that income. Figure this out today!
There are so many ways to cut expenses. Come up with a plan on how you are going to make some easy money over the next few months.
Sell, Sell Sell
What can you sell? Are there things you no longer need or use? Can you sell them on Craigs List? What about taking these things to a consignment shop? Or, there are still some weeks of good weather, have a garage sale. No, you aren't going to get rich doing this, however, you will have some extra money.
All the rage right now, going green can mean a lot of different things. Buying used. Cutting energy consumption in your house and in your car. Lessen your carbon foot print. Let me go a little deeper here. Buying used or new to you clothing is the easiest way to save money. Instead of paying $25-45 on a new purse (and not even a high end purse), you can pay $6.50 for a stunning Tommy Hilfiger black leather, smart looking, almost new, purse. Courtesy of VOA. Or you could find that great new jacket, suit or interview outfit at Salvation Army or a consignment shop. Stop buying new. There's plenty of good stuff out there, not being used. Not only is this saving you money, it is saving the planet.
How much would you save in one year if you got rid of your car? Gas, car payments, insurance. It could be the best money you saved. This doesn't seem practical or even feasible in some cases but people do it all the time. Our neighbor, with 4 kids, just dumped one car. They do a lot of carpooling. Heck, if they can do it, so can you.
Talk to your bank
If your mortgage company and credit card companies don't know you've lost your job, they should. Call them today and see what they can do to lessen your monthly payments for now. Sure, you will have to make those up later, but you need some of that money right now to live on.
Ask for help
There are food cupboards, low cost health treatment facilities and all sorts of resources available for anyone in need. Check with your church, local Chamber of Commerce and City Hall to learn what some of these resources are today, before you may actually need them. Don't forget to let friends and family know how they can help. You may feel like you are asking a lot of them, but chances are, they want to help.
Survivability demands that we learn some of these things today, rather than when we are traumatized by bill collectors. Many of the job seekers out there today are Baby Boomers who have never, ever had to think of any of these things before.
Print this post and give it to someone you know. Many, not all, but many, Boomer seekers don't read blogs. If you've been through this before, you know some of this, if you've never been through this, what I am saying sounds foreign. Help educate those who need the help.