Finding yourself unemployed can be worrisome and stressful. I had had a job most of my adult life so it was weird waking up on January 3, 2017, realizing there was nowhere I needed to be and no one to report to. And while there were moments of panic, I tend to be a solutions-oriented person so I set out trying to get comfortable with the uncomfortable situation of figuring out my next source of income.
A year later I feel it’s worth sharing some of the immediate tactical actions I took to make life a little less stressful in hopes they’re helpful for someone in a similar situation:
1. Pay yourself first.
I was fortunate in that I knew my company was closing at the end of 2016 and that if I didn’t find a job before then I would be without an income source as of January 1. Since I wasn’t confident I would find employment by January 3rd, I used my remaining 2016 paychecks to pay myself through Q1 2017. I set aside money from each paycheck to cover my share of the rent, utilities, and groceries. Knowing I had three months to find a source of income before dipping into my savings gave me peace of mind. I understand not everyone will have this luxury, but whatever your situation, try to find a way to pay yourself first and for as long as possible. (As a friendly reminder, this is why it’s important to have a saving account and always pay yourself first).
2. Unsubscribe.
I unsubscribed from all promotional emails. When I had a discretionary income, I didn’t think twice about taking advantage of a sale or ordering something that I wanted instead of needed. Removing the promotional emails from my inbox eliminated the temptation to spend because I was bored.
3. Change your habits.
I know this sounds silly, but I stopped shopping at Whole Foods. And yes, I am aware that’s a snobby, pretentious, first world thing to say. But by making changes in where I shopped, and how I shopped, I saw some real savings. Our weekly grocery bill went from around $120 for two people to between $80 and $90. $30-$40 a week really adds up over time. I also became much better about how I grocery shopped. Instead of buying something I would use for only one meal, I tried to buy items that could do double duty.
4. Look for savings.
I revisited my cell phone plan. I had known for a while I was probably spending more than I needed to but, frankly, I had been lazy about exploring my options. Turns out I was able to reduce my plan by $20/month. I think the plans have changed again since then so I really should go back and revisit this to see if there are additional savings.
I also called our health insurance company to see if they offered discounts if we completed a health assessment or had a gym membership. They didn’t, but if they did you bet your ass I would have taken advantage of whatever discounts were available.
5. Quantify everything.
Would an iced vanilla latte, that might take me half an hour to drink if I really paced myself, bring me $5 of happiness? Probably not. Therefore, I wouldn’t go work at a coffee shop and instead stayed at my apartment where I wouldn’t feel obligated to spend money. Would treating myself to Chipotle while out running errands be worth $9? Not when I knew I had leftovers at home. I would feel guilty the entire time. I performed a cost-benefit analysis for everything. Certain purchases – like a license for Microsoft Office – were non-negotiable, but everything else needed to be carefully evaluated.
6. Find money.
I took advantage of one of those bank offers where if you open up a checking/savings account with X dollars they give you $200. Since I needed a bank in Austin to avoid being charged when withdrawing money from ATMs, it seemed like a no-brainer.
7. Do something for your physical (and mental) health.
I joined a gym. I know this sounds counter-intuitive because most of the points above are about how I was saving money, but I knew I needed a reason to leave the house other than walking our dog. I needed a place to go that had fixed costs. I also needed a way to socialize on weekdays. Since a gym membership is a fixed monthly fee and attending classes enables socialization, it was an easy decision. Additionally, I don’t think many people feel their best when they’re unemployed. At least I know I didn’t. Working out helped me feel better about myself. Getting back into shape offered a goal I could control. It didn’t depend on recruiter liking my cover letter and resume. Nor did it rely on there being chemistry between my interviewer and me. It was about whether I showed up for class and fueled my body responsibly. What’s more is that if you feel good about yourself in one aspect of your life, it tends to bleed into others. So I highly recommend investing in your health and wellbeing as much as you can when you’re unemployed. And while a Planet Fitness might be more economical, my advice would be to join a gym with classes because it inevitably results in forced socialization.
8. Connect.
I reached out to freelancers I had previously worked with for two reasons. First, I had been out of the independent game for a long time. I wanted to understand how they approached their businesses and what their experiences had been. Also, I wanted them to know I was available to freelance if they heard of anything and that I would try to send work their way if the opportunity presented itself.
I also said yes to any introduction people offered – even if it meant I had to spend $5 on coffee. You never know who you will meet or what opportunities will arise.
9. Take a breath and enjoy the freedom.
I tried – somewhat unsuccessfully – to enjoy my freedom. Since I’m nowhere near retirement age I knew I would work again at some point in the future. So I tried to enjoy not setting an alarm. I tried to enjoy long afternoon walks with my dog. On Friday afternoons I would read or sketch or watch tv because I could. And instead of feeling shitty about it because I wasn’t contributing to society in a meaningful way, I tried to remind myself that it was temporary and to enjoy it while it lasted.
Photo by Vladimir Solomyani on Unsplash