Loss of Employment
Losing your job is just as much as a disaster, if not more, than an earthquake
or flood. When there is not enough money, we have
problems. It not only
affects your finances, but can affect the financial security and emotional
well-being of your whole family.
You should never assume that things are going to stay the same. In times
of plenty you should prepare for times of uncertainty.
Job loss is a family crisis that is much easier to handle if you make adequate
preparations. You can find another job, but it will take time. You
need money to bridge the gap. Most financial advisors suggest having at
least an 8 month supply of emergency money.
Obviously if you lose your job you will stop spending money for
everything but non-essential items, so it doesn't have to be the amount of money
you currently spend each month.
Mini Preppers have the advantage of having many of the items that they need
already stored in their homes. This preparation can supplement other
emergency sources of incomes, such as unemployment insurance.
Most people can cut their expenses and save more money if they are a little more
Frugal Happy Families and other similar sites for money saving ideas. Save a
little money each month, and start building your emergency fund.
If you have stored the food that you normally eat, life will seem a lot more
pleasant while you are looking for new employment. Having the food
and other basic commodities you need for your family will remove one layer of
concern during what is for most people a very stressful time.
I know many a family who have experienced a job loss, and were helped through
difficult time by using their
food storage. Water, food, and personal items, when purchased
carefully and rotated, will never be wasted.
I know many a family that survived a job loss by eating their food storage, and
using other stored supplies like personal hygiene items. When you store
items you use on a regular basis, there is never any waste.
We strengthen our homes when we store up in times of plenty. I am always
surprised when a person thinks this is "hoarding." It is not hoarding to
store things in times of plenty. It just makes it easier for other people
to find supplies in the store when there are problems. If every family
would store supplies, we all would be better off. That has always been my
barometer of "right and wrong"...what would happen if everyone did this?
If everyone stored food, like our ancestors did years ago, it would strengthen
all of our homes, neighborhoods, and communities.
You may be able to calculate unemployment
compensation into your formula for deciding how much money you need to have in
an emergency savings account.