Wonderful Wednesday - You are Out of Work So, Adjust the Budget
Wonderful Wednesday - it is wonderful to know you can make it after unexpectedly being out of work.
Some of my readers are old enough to remember the old Clinton saying, "It's the economy stupid." In today's economy many people are finding themselves unexpectedly out of work. In many cases it is through no fault of their own, it's the economy. However, no matter what the reason, out of work is out of work. The Wonderful Wednesday articles for December will be exploring the topic of what to do when you find yourself out of work unexpectedly. Future articles will look at:
- using your networks to search for a job
- starting something new
- staying positive and focused
This week's article is about adjusting your budget. In a previous article, I advised that everyone should have at a minimum, a six month account. A six month account is a readily liquid bank account that has sufficient funds to cover your current lifestyle for six months. My accountant husband read the article later and told me that under the current economic conditions the six month account should be a minimum eighteen to twenty-four month account. What my own experience with being "between opportunities" has taught me is that even with a twelve month account and unemployment insurance, one of the first things a newly unemployed person should do is make serious adjustments to the budget.