| It has happened again, and again in a very big way. I | | | | something like this could happen again and there was |
| am sure you have heard the news that General | | | | at least some preparation. |
| Motors is closing plants and letting some 30,000 | | | | Second, take a real hard look at what areas you |
| people go. Some they will be able to relocate, some | | | | would be able to trim, immediately if you have to, in |
| they won?t. | | | | order to slow down the cash outflows every month. |
| Ford has started announcing they will be "cutting | | | | Look at these areas closely. If you have teenage |
| back" and will have more to say about it in February. | | | | children, you might want to involve them in the |
| When asked if the cuts will go deep enough, Bill Ford | | | | process. Have them help to contribute ideas that will |
| said he thinks they will. This is all devastating news | | | | help the family weather this storm. Explain to them |
| that we should all be concerned about. | | | | that as parents, you will do everything you can to |
| The manufacturing sector of our economy is the one | | | | make this a temporary situation and explain to them |
| sector that provides for our society in any country, a | | | | you appreciate their help and input. |
| ?ladder? that allows us to move from lower class | | | | Third, ?write down your plans?. This is so important. |
| economies to middle and upper middle class | | | | Set some short term goals that will help you to get |
| economies. Without manufacturing, it becomes more | | | | through this time. Also make sure to include your |
| and more difficult for families to pull themselves up | | | | ?written? finances from step 2 here as well. One |
| and obtain their dreams. | | | | technique to use is to sit down and write out where |
| Most manufacturing jobs provide up to nine other | | | | the money is currently being spent now. Keep in mind |
| jobs in the local economy. Think about the local drug | | | | that most of us don?t have the patience to do this, |
| stores, dry cleaners, car washes, gardeners, fast | | | | or are not honest enough with ourselves when we |
| food restaurants, independent auto mechanics, and | | | | write it down. This is an important enough step that |
| so on, that are going to see their customer base | | | | it is worth repeating. Look at the list and decide |
| diminish and their services not used as frequently. | | | | what, if any, areas you can trim down for the interim |
| This will be a direct result of their local patrons no | | | | period. Don?t look at it as ?I can go without this? |
| longer have the discretionary income they once had. | | | | because this will begin to breed anger, after all, you |
| Most of those that are being laid off will now start to | | | | worked hard for X amount of years and you |
| learn how to get it done themselves. After all, they | | | | deserve this (whatever ?this? is). And anger will do |
| will now have the time. Many will begin working on | | | | you, and or your family and friends no good at all. |
| their own cars, taking care of their own lawns, | | | | This is not the end of the world and you and your |
| cooking and eating ?in? more often than not. | | | | family will survive it. YOU MUST REMEMBER THAT! |
| And with fewer ?end? products being produced, | | | | But if you have the wrong mindset, it will make the |
| suppliers and their employees are affected in the | | | | process you are getting ready to go through much |
| same fashion. | | | | more difficult than it needs to be. |
| What of our younger generations that are coming up | | | | Once you have it all written down, talk to your |
| through school. What direction do they take upon | | | | spouse, or if a single parent, talk to your children and |
| graduation? What field do they now study in college? | | | | try and solicit their support in ?making those new |
| And to learn a trade is still a good bet, but unless | | | | plans happen?. If the family has goals, and |
| they move to an area where there is more | | | | ?everyone? in the family participates, this temporary |
| discretionary income, what do they learn a trade in? | | | | setback will be brief and the family values and |
| These are tough situations and difficult questions. | | | | relationships will remain intact. If there are no goals, |
| These actions affect us whether we live nearby or | | | | or they are not specific, then everyone does what |
| not, whether we were the ones laid off or still | | | | they think they should do and in reality, nothing gets |
| working, and whether we live in the United States or | | | | accomplished except feelings of contempt and |
| not. There will be huge impacts. How much will the | | | | frustration for one another. |
| Federal Government be able to do to help us? I | | | | Keep in mind that this has happened to people and |
| spoke with some friends who live in Marathon Florida | | | | families in the past and it will be experienced by |
| who were devastated in the last hurricane and they | | | | people and families in the future. You may find that |
| related that FEMA has notified them that they are | | | | your life begins moving in a direction you had not |
| temporarily out of money due in large part to | | | | originally intended it to, or the changes that take |
| hurricane Katrina. They indicated that FEMA told them | | | | place in you or your family are changes you would |
| they need to go back to congress to get more | | | | not have thought possible before. That will be ok. |
| moneys approved. | | | | Again, the most important thing to remember is that |
| There are some individuals who had some foresight | | | | you did just fine up to this point and you will do just |
| and started a home based business that provided | | | | fine after this. There is a life after (insert you |
| them residual income. It may have sounded kind of | | | | company name here). Sometimes many believe that |
| corny then, or out of vogue, but there are those | | | | a power greater than they are found it necessary to |
| families, husband and or wife: single parent, or head | | | | challenge them to learn and experience new |
| of household that DID do something way back when | | | | situations that will further develop their true selves, |
| and have been enjoying discretionary income month | | | | or the people they were intended to be. Some will |
| after month from their home business. To those who | | | | shrug their shoulders and say ok, let?s move on. |
| were prepared, you will have a little less worry and | | | | Situations have a way of correcting themselves in |
| frustration than those that did not. | | | | time, but usually not without some direct input from |
| For those that did not have a home based business | | | | us. What this means is if we are to have a positive |
| and consequently no monthly residual income, it is | | | | outcome, we need to have positive input. If we |
| never too late to start one. You can start one up for | | | | experience a negative outcome, then we obviously |
| relatively little cost, and it will not dig into your new | | | | have input negative actions, feelings and or emotions. |
| budgeted spending pattern if you start a business | | | | Remember, this is not the worst thing that could |
| where the products would be those that you | | | | have happened. If you were not ready for this one, |
| consume in your household each month (all | | | | then get ready for the next one. Seriously examine |
| businesses need to have products or services sold. If | | | | your spending patterns. Take a hard look at where |
| not, then they are a scam. Run away from them as | | | | your money is going. Employ a technique called |
| fast as you can). | | | | delayed gratification, meaning wait and save the |
| As independent adults that are getting caught in this | | | | money for the item, or do what is necessary now in |
| layoff trap and having less and less security, there is | | | | order to have the item or pleasure in the future. |
| some analyses that may be difficult, but nevertheless | | | | And if you do not have a side business, a home |
| need to now take place. For those of us not directly | | | | based business, or a part time business, realistically |
| caught (yet), this analysis process would still be good | | | | pursue that. There are too many opportunities that |
| for us to examine as well. | | | | are out there for bright people that are hard working |
| First, hopefully those employees getting laid off have | | | | in nature, to sit on the sidelines and not be able to |
| put back some savings. After all, this has happened | | | | participate in the ?Great American Dream?. |
| before, so hopefully there was foresight that | | | | |