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Unemployment Strikes Again
By Molly's Brother | September 17, 2006
I haven’t been posting much lately because, well, unemployment strikes again. The oft-wonderful, oft-cruel working world bestows job security on some and constant employment uncertainty on others. For those involved in the non-profit sector (and even then, those who work for the smaller non-profit agencies), long-term employment is not always a reality. Although I loved my job, excelled at my job, and worked tirelessly to ensure that I would have a job, sometimes life doesn’t unfold as planned. As funding has dried up in this particular sector, larger financial issues that were set in motion years ago finally caught up with the agency. Two weeks ago, an agency that–twenty-five years ago–was among the first to respond to the HIV/AIDS crisis in Los Angeles, shut its doors.
However, I have structured my life so as not to feel the immediate financial pinch. Here’s how.
Although the emergency fund that I have in place is in no way, enough to afford me months and months of unemployment, the fact remains that it will provide enough of a financial cushion (which will then, in turn, allow me to sleep through the night!). I’ve never focused on maintaining a true emergency fund until a year or so ago. This is the first time in my life that I’ve had to rely on such a fund to help keep me afloat.
Reducued My Spending Immediately
Many people, upon discovering they’ll soon be unemployed, do nothing to change their lifestyle. They continue to eat out. They continue to order in. They continue to hit the bars, go to the movies, take the trips. As for me, incurring debt during this (hopefully) brief period of unemployment is something I’m not interested in. “Spend less than you make” has been, is, and will always be the most prudent financial axiom if one is concerned with eliminating debt.
I’ve cooked more dinners at home and I’ve rediscovered my love of books. I’m looking for cheap ways to stay entertained without forking out forty or fifty or sixty bucks a night.
Discovered Ways to Bring in Extra Cash
No job means no money. I’ve been selling books on half.com like crazy. I’ve pulled electronic devices out of storage with the intention to sell them on CraigsList. I don’t need these devices anymore and, in a matter of a year or two, I imagine that they’ll be outdated. It’s an old TV and an old DVD player. I’d rather sell these items and move them out of my life.
My job hunt continues and I am convinced that I’ll find another job in the non-profit sector soon. Truth be told, I’m enjoying the tiny little break. I’ve allowed myself to relax and focus on stress reduction before I jump into the work world again.
Topics: Emergency Fund |
September 18th, 2006 at 3:40 pm
First of all love the new design!
Sorry to hear about your job, to me there’s pretty much nothing worsse than job-hunting. Hopefully you’ll find a new position that is even better than your last!
September 18th, 2006 at 6:41 pm
Laura–
Thanks for the kind words of support. (I like this new design, too. The other one grew to be too dark for me!)
But you’re right about job hunting. I can’t stand it.
And I’m sure that I’ll find something soon. These things work themselves out.
MollysBrother
September 20th, 2006 at 8:37 pm
Ditto on the new design, it’s very readable.
And good luck with job-hunting, I hope you land something you like soon!
October 11th, 2006 at 8:51 pm
This is a great website you have here. Loads of info. I’m already looking into selling a couple of things myself on half.com
I have two questions:
1) What would be a conservative amt for an emergency fund?
2) I’m given the advice that a HELOC (at 7% interest-with very low monthlys) is a better way to go than holding up liquid cash in an ING.What are your thoughts?