What To Do in Times of Economic Turmoil
Posted by: bk2nocal on: December 3, 2008
We all know that the economy is not looking good. Businesses are begging for handouts from the government. Neighborhoods around the US are finding more and more houses sitting empty, with foreclosure signs in the window and dying yards. Many are being laid off. So, what can you do during times like these in order to alleviate some anxiety? Even if you think your job is in good shape, you might find some of these to be helpful. If your job is in limbo, than you should try adopting as many of these as possible.
- Update your resume. Its always a good idea to keep your resume up-to-date and ready for distribution. After all, no one knows when opportunity will come knocking and being ready to answer is half the battle. But, many of us, including myself, often put this task at the bottom of our to-do lists. The thing that keeps getting put off. I think its a good idea to figure out if you can apply for different types of jobs and have a few different resumes that stress specific skills for a specific job. For example, I have three resumes in my current arsenal: teaching, writing and administration. So, get those resumes updated and ready to go and have resume paper on hand.
- Cut your expenses. This is something I’ve been looking at, figuring that our new addition of a baby in April and our loss of our rent paying roommate in June will mean a little less cash on hand for us this coming year. Look at ALL of your expenditures and take some time to explore ways to cut those costs. I’ve ordered a digital converter box for our TVs and I’m seriously considering cutting cable and just watching the DTV channels available for free. After all, less TV in my life would probably make me more productive and I don’t NEED any of the cable channels. I am also trying to figure out ways of cutting our food expenses, using coupons more effectively, etc.
- Bring in extra money. If there is serious risk of losing your position in the near future, I think it is beneficial to make sure you are bringing home as much as possible on the remaining checks so you can begin socking that money away for expenses after the layoff. Look at your tax claims. Look at any additional flex spending you have deducted from your check. But make sure that any additional money you bring home goes straight into savings, not frittered away. You can also look for part-time jobs. It is holiday time and although retail may not be what it has been, there are places hiring seasonal workers. You might even have some talent wrapping gifts or putting together gift baskets. Get on Craig’s List, make flyers and get the word out that you can do these chores to save others time and frustration during this stressful season.
- Get educated. Start looking into educational opportunities that will help you when looking for a job. Computer classes, public speaking classes, online courses, etc. can really help to boost your resume and make you stand out from others competing with you for jobs.
- Don’t panic. Its never helpful to panic or get depressed. Take charge and you’ll feel more in control. Feeling in control allows you to get things done and getting things done is key to solving any problems that arise for you and your family in these times of turmoil.
I luckily am not speaking from experience. I feel like my job is relatively safe, thankfully. But, if you aren’t feeling as safe, take some steps to get in control and make the situation better.
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