It can also be hard for others who never prepared for that rainy day. Those who have learned their lesson want to quickly save money once they start working again.
Are you prepared for unemployment?
As we come to a close of the 2012 Presidential election, I see more and more commercials that have become more of a pain to watch than a help to me. The fight for theUnited States’ top job will be decided on November 6. This job is clearly not about the salary, seeing it only pays $400,000 and one of them is already loaded with money.
Finances have always been the main factor to make a business thrive. In 2012, it’s become harder for a lot of businesses to keep their doors open.
When business decision makers add to the payroll, they must ask themselves if it will benefit the bottom line. Will the addition create extra money or will is even more money being paid out just because you feel sorry for a person’s situation.
With my eyes opening to what’s going on in the print world, maybe it’s time to get prepared for whatever may happen in the coming months. Are you prepared for unemployment if your job closes this week?
Let’s talk about the steps one should talk if you are facing a possible job loss and is concerned about how you’re going to pay your bills. After you become unemployed, you must apply for Unemployment Compensation Benefits, now possible to do online.
If your claim is approved, you will still need to keep filing weekly claim forms. You will not be paid benefits unless you file your claim for that week. If your claim was denied but you appeal, then you should keep filing your weekly claim forms. If you win the appeal, you can get back payment but only if you filed weekly claim forms.
While you are working, maybe is the time to start preparing yourself just in case you get that pink slip. Do you panic and worry about what will happen next? Well, if you are saving and looking out for your future, it will make the pain feel a little lighter.
Hearing one of the commercials for president, a man said they built a big stage then was later called out and notified that the company was closing. He built the platform that became his demise.
If you lose your job, you must lose those extra luxuries.
I was always taught to have your resume ready and updated because you never know when your time may come. Many have used their job’s computer for their benefit, not having an email or computer at home, so they depend on the job to provide this luxury.
Being the person who brings home the bacon, you should first open a special savings account and start putting money aside for that rainy day. Even being upset, try to stay calm and not panic. Knowing the bottom has fallen out on you, it’s time to look at your finances and decide which expenses you need to cut out in order to provide for your family.
The question comes forth to making that major decision of buying gas or eating. Time to cut back on buying those $7 cigarettes or buying food to eat for your family. Make a deal with your creditors that you have lost your job and you want to pay what you can on your bill.
Sometimes bad management is a factor for doors closing. Having the freedom to do what you want to because no one is giving you orders may cause pain for everyone else. When they payroll is padded for your benefit, what benefit is it for the company?
Do you hire people just so your area is covered?
Money is always a motivator for most people. Little money usually equals little work. The old saying, if you take care of your people, they will take care of you. I have seen that come true over and over wherever it’s applied. Operating in the black means everybody is being paid what they were hired to make.
Do you sit down and compare where you were before and after their time and see that one it ran better and two the brought in more money. But, because of fears and control, you are allowed to run it in the ground.
Not having a great business mind can hurt the whole company. That hurt can cause a person to panic especially when they are faced with paying their rent or mortgage. Do you sit down and discuss moving to a place where you can pay lower rent or move back to your family home.
If you are a younger person, make sure you leave your parent’s house on a good note. You never know when you may need to ask for your room back. Thinking you know everything and arguing with your parents when they asked you to get out can be an issue if you fall on hard times.
If you have a house that’s large enough to share and want to keep your house, think about getting a roommate to help with your bills and other expenses.
You must be strong even when it becomes difficult. You may have done all the right things and have come to the point that you spent all of your savings and now you have to make it on your own.
It can also be hard for others who never prepared for that rainy day. Those who have learned their lesson want to quickly save money once they start working again. That is my advice that, once you’ve found a job, make sure you think about how it was while you was not working and start your new journey with the thought of that savings account. Put money away for that rainy day.
Follow me on twitter @JimmyWadeIII
Write Wade at the Call & Post, 11800 Shaker Blvd., Cleveland, OH, 44120, or e-mail him at jwade@call-post.com. Comments and questions are welcome but, because of the volume of mail, personal responses are not always possible. Please note that comments or questions may be used in a future column.
