This is why you must have an emergency fund and a plan for if you loose your job. I don't have an emergency fund but I can get out of paying most of my credit cards. A while back I signed up for a program that would pay my minimum payments if I ever loose my job. And to think I was about to cancel it. My federal student loans are easy, I can always file for deferment or forbearance. I am worried about my Sallie Mae student loan, they don't work with you at all, but you can't get blood from a stone.
My Plan
- Find a part time job - In case I loose my primary job I will have some income coming in.
- Look for a new full time job - Self explanatory
- Add to my skills - Jobs in my field require knowledge of Photoshop, Illustrator, and In Design. I can use this time to take classes (Pay cash of course)
- Find other ways to make money - I have a degree in Fashion Design & Merchandising. I learned how to sew and make patterns. I make handbags and pillows as a hobby, maybe I can make money from them.
- Continue to pay debt, but maybe save more and pay the minimums.
I'm sorry that you are worried about your present employment circumstances. Remember that even IF things get worse before they get better, it is only a temporary set back. And having a plan ready to ease some of the pain is very smart!
ReplyDeleteComment on #3: Unless you are trying to earn a certificate, is it possible to learn these software packages on your own? You can self-study through books from the library and tutorials online. However, if the classes are inexpensive, then it is a moot point.
Comment on #4: I used to make jewelry and sell it for extra cash. Finding customers is usually quite a challenge initially. But once you have them, and if you are good, they will keep coming back. Since you have some knowledge of merchandising, you may have an easier time of it than I did. Creating a dossier / website / collection of your works may benefit you. I don't know where you live, but some towns have small boutiques that will buy products from local artisans. Unique clothing and accessories are usually in demand. Can you do curtains and slip covers? Many people will hire someone to create these things for them.
You never know ... you may really enjoy it and it may blossom into a fruitful business!
Thanks for the support Shanasta.
ReplyDelete3. You have a good point, I think I'll borrow a book from the library and try to teach myself before paying for a class.
Does anyone know if a certificate is that much more beneficial?
4. I can make curtains. I can make almost anything that requires fabric. Pillows, placemats, table runners, duvet covers, etc. It seems like people are still buying handmade products despite the bad economy. At this point every little bit counts.
I recently posted a similar sentiment on my blog. My office went through layoffs (thankfully, I was not affected) and pay cuts & insurance cuts (I was affected). Sometimes a job can become routine, habit for me. When I'm doing well at it, I don't even think of being fired or laid off.
ReplyDeleteThe past week made me want to create a backup plan too. I realized I hadn't updated my resume in over three years!
I think your ideas are great, however with regards to fashion/merchandising (I'm in this field), be careful how much you put into starting yourself up, i.e., materials can be pricey especially if you are not sure you will sell whatever you make. You might want to use those skills to look at different jobs - fashion and design are desirable backgrounds in a multitude of creative jobs including public relations, marketing, editorial, etc.
A good idea to market yourself re: making curtains and etc., start off as a "word of mouth" business. Maybe your grandparents or their friends need new curtains/drapes. Make them a pair at a discount if they promise to spread the word. My grandmother lives in a retirement community and I swear, if I knew how to do "odd jobs" around the house, I would be a millionaire!!
Just a few thoughts! :)
Are you currently working in a job related to your college degree?
ReplyDeleteI am working in a job related to my degree, but it is not the job I wanted. Getting the job I want isn't easy in a good economy much less now.
ReplyDeleteI think that most people with degrees (including me) find themselves in the same situation you do. What are you doing now and where would you like to be?
ReplyDeletecute blog, i want your kittie! looks just like my riley!
ReplyDelete