One of my friends I haven't seen in a long time invited me out for coffee. Nothing is on the calendar yet, but she told me when we get together she wanted to talk about how I've survived being unemployed for so long.
I can't believe I haven't written about this. Yes I can. I have notes and scrap papers full of topics I haven't gotten around to sharing with you yet.
When Stesha told me no new jobs were created in August, I was in shock. Like, not ONE.
When Stesha told me no new jobs were created in August, I was in shock. Like, not ONE.
Without being too long-winded, I'm going to tell you how I've managed to survive over 36 months of unemployment (got my last unemployment check in May 2010):
FRUGAL FROM THE START
I've seen alot of articles offering tips to help people change their spending habits as a result of "the new economy". I was ahead of the game. While others were trying to figure out what a coupon was and had never touched a clearance rack, I was already a regular non-crazed coupon clipping discount shopper.
I was introduced to coupons around the age of 6. My then brother-in-law would take me to the grocery store and he'd teach me all about doubling and stacking. Although he didn't call it stacking. We just used multiple coupons for one item. He'd quiz me on unit prices. I always failed. I was happy as all get out when the stores started putting the unit price on the shelf sticker!
I've never been a label whore. Except when it comes to canned goods and household stuff. I recently started trying generics. I've switched to Wal-Mart's Great Value version of Scrubbing Bubbles and I also buy their frozen vegetables.
I don't wear designer clothes. If I have on something that's considered "famous label", you best believe I got it at Ross, Marshalls, or TJMaxx. There's an 85% chance it was on clearance and if it was regular price, I put it in layaway.
I shopped the same exact way when I had a paycheck. It's second nature to me.
LIVING WITH LESS
Aside from this big ass house with rooms I don't even go in, I'm a minimalist for the most part. I have a weakness for nice houses...in nice neighborhoods with good schools. This is usually accompanied by nice sized property taxes.
We've been here since 2005 and there are unfurnished rooms in my house. When Baby Daddy lost his job in 2006, that was the end of furniture buying. When most people buy a new house, they run out and furnish it on credit. Not me. Every piece of new furniture was paid for when we moved in thanks to layaway, which is the same as buying cash.
I don't like debt. I have it now as a result of unpaid bills, but it's not something I knowingly sign myself up for. Not having debt is what helped us save our home from foreclosure..the first two times. I've lost track of the number of foreclosure notices we've received. I just focus on the fact that despite overwhelming odds, we're not homeless and I thank God for the modification that resulted in an extremely low interest rate.
I pity the Jones's and have no desire to keep up with them. Running out buying the latest iWhatever has never been my thing. I replace things when they need replacing. I do my best to take care of them so they won't need replacing for a long time.
VALUE YOUR MONEY
I'm a disciplined saver. I like looking at my money. Knowing it's there if I want to spend it. Being all dressed up, taking a trip you really can't afford (because everyone else is going and you're all about impressions) has to be the worst feeling in the world.
When you truly value your money and your self-worth, you don't make decisions like that. You're open and honest about your financial situation with everyone. Not just the people who share the same money philosophy.
When it was time to get a new car in 2007, I bought a quality used car. Why? Because I value my money enough not to sink it into something brand new that's going to depreciate at least 25% the minute I drive it off the lot. Car payments for both cars is $600 month. The price of ONE brand new one.
The one thing I didn't do was save while I was collecting unemployment insurance. I wish I had put back $50 month. That would've left me with $2,475 in savings when it ran out. Enough to have paid my car off in full.
I haven't gotten food stamps, Medicaid for my kids (I did in 2006 when both me and Baby Daddy were jobless), or any other kind of government assistance.
I guess I'm basically trying to say the relationship I've had with money all along is what best prepared me for unemployment.
I've always operated under the mindset that a paycheck is temporary and nothing I should create a lavish lifestyle around. I've truly believed in living well within my means.
I've seen alot of articles offering tips to help people change their spending habits as a result of "the new economy". I was ahead of the game. While others were trying to figure out what a coupon was and had never touched a clearance rack, I was already a regular non-crazed coupon clipping discount shopper.
I was introduced to coupons around the age of 6. My then brother-in-law would take me to the grocery store and he'd teach me all about doubling and stacking. Although he didn't call it stacking. We just used multiple coupons for one item. He'd quiz me on unit prices. I always failed. I was happy as all get out when the stores started putting the unit price on the shelf sticker!
I've never been a label whore. Except when it comes to canned goods and household stuff. I recently started trying generics. I've switched to Wal-Mart's Great Value version of Scrubbing Bubbles and I also buy their frozen vegetables.
I don't wear designer clothes. If I have on something that's considered "famous label", you best believe I got it at Ross, Marshalls, or TJMaxx. There's an 85% chance it was on clearance and if it was regular price, I put it in layaway.
I shopped the same exact way when I had a paycheck. It's second nature to me.
LIVING WITH LESS
Aside from this big ass house with rooms I don't even go in, I'm a minimalist for the most part. I have a weakness for nice houses...in nice neighborhoods with good schools. This is usually accompanied by nice sized property taxes.
We've been here since 2005 and there are unfurnished rooms in my house. When Baby Daddy lost his job in 2006, that was the end of furniture buying. When most people buy a new house, they run out and furnish it on credit. Not me. Every piece of new furniture was paid for when we moved in thanks to layaway, which is the same as buying cash.
I don't like debt. I have it now as a result of unpaid bills, but it's not something I knowingly sign myself up for. Not having debt is what helped us save our home from foreclosure..the first two times. I've lost track of the number of foreclosure notices we've received. I just focus on the fact that despite overwhelming odds, we're not homeless and I thank God for the modification that resulted in an extremely low interest rate.
I pity the Jones's and have no desire to keep up with them. Running out buying the latest iWhatever has never been my thing. I replace things when they need replacing. I do my best to take care of them so they won't need replacing for a long time.
VALUE YOUR MONEY
I'm a disciplined saver. I like looking at my money. Knowing it's there if I want to spend it. Being all dressed up, taking a trip you really can't afford (because everyone else is going and you're all about impressions) has to be the worst feeling in the world.
When you truly value your money and your self-worth, you don't make decisions like that. You're open and honest about your financial situation with everyone. Not just the people who share the same money philosophy.
When it was time to get a new car in 2007, I bought a quality used car. Why? Because I value my money enough not to sink it into something brand new that's going to depreciate at least 25% the minute I drive it off the lot. Car payments for both cars is $600 month. The price of ONE brand new one.
The one thing I didn't do was save while I was collecting unemployment insurance. I wish I had put back $50 month. That would've left me with $2,475 in savings when it ran out. Enough to have paid my car off in full.
I haven't gotten food stamps, Medicaid for my kids (I did in 2006 when both me and Baby Daddy were jobless), or any other kind of government assistance.
I guess I'm basically trying to say the relationship I've had with money all along is what best prepared me for unemployment.
I've always operated under the mindset that a paycheck is temporary and nothing I should create a lavish lifestyle around. I've truly believed in living well within my means.
Thanks, the savings tip is hard but you are right - I need to learn your discipline. We have been in this house 3 years and I just got a dining room table this year with our taxes. Cash is so much better than buying on credit - I plan to make sure my kids don't learnt that the hard way like I did
ReplyDeleteteaching our kids is an absolute must..thank you for sharing.
ReplyDeleteMy husband and I slept on an air matresses for 6 months when we moved to our new neighborhood. Yes, we could have financed a new bedroom set, but we didn't. We saved until we had enough money and now we're enjoying our "paid in full" bed! I pity the Jonses's too. What miserable lives they must have.
ReplyDeleteHugs and Mocha,
Stesha