By Nancy Hubbard
No, I don’t mean the body part that you can’t find with two hands. I’m also not referring to getting out a crystal ball and foretelling when we will be at the bottom of the economic downturn, either. Although wouldn’t that bring some level of comfort if we knew that the bottom of the economic downturn was going to be on July 5, 2009, for example? We might be able to enjoy some of our free time a little more.
No, I’m referring to the point at which you personally (or financially) hit rock bottom as a direct result of your unemployment. Here is an example of what I’m talking about: If I don’t get a job and I start running out of savings with no end in sight, I would pack up the animals (no small feat for me with horses, a donkey and dogs) and move to the land my parents purchased 50 years ago.
The land has no debt on it, so I would just have the property taxes and minimal cost of living. If it got to that point, it would mean that I turned in my nice leased car and lost the house (or if possible sold the house before it went back to the bank) — not a good situation, but it’s just “stuff” that I have accumulated over time.
For me, thinking about and identifying my backup plan is comforting. I won’t be homeless. I will be strong and I will be okay. In some ways, it would be adventurous and exciting.
But each of our situations is different — so I’m curious to know if identifying your backup plan for the time when you are close to hitting rock bottom is a comfort to you or frightening? Please share your thoughts.
Nancy Hubbard is guest blogging on Laid Off Loser April 30 and May 1 as part of her project offering to work any job for free for two days. Hubbard, who recently was laid off from her job as a development and construction manager in the health service industry, lives in Wilsonville, Oregon. She can be reached by e-mailing firstname.lastname@example.org.