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