Recently, I found myself in a position that I have not been in since I was 11 years old. I am without a job. At twelve years old, I started a paper route, which started my last forty years of working. No, I did not work at the paper route for the last forty years, but it was the beginning of my hard work.
There is an exception though, my first three years of college, I did not work during the school year. I worked really hard during the summers to save up money I would need for essentials, like late night pizza and beer. The typical college kids’ necessities. Plus, it was cheaper back then, in the olden days of the late 80s, so you could survive with less money. I also typed, yes, on a typewriter, students’ term papers for $1.00 a page. That was another way I made money during the college year. This was before everyone had a computer. And babysat, as well.
Then, year after year, after year, after year…well you get it.
Even after graduating college and looking for a full-time job, I worked and worked. I had a second job for 11 years after I finished college with a four-year degree in teaching. I worked, even after I had my Masters Degree too. Of course, I was working on paying off the debt for those classes for that degree.
Fast forward forty years and here I am, unemployed. I knew it was coming because the person made it pretty obvious to me and unfortunately, there was no protection in place so all those loyal, dedicated years meant nothing in the end.
Looking back, I wish I had taken every sick day and personal day that I was given. I did not, of course, because I always felt bad leaving them in the lurch, so I feel really foolish for the loyalty that I gave and was not reciprocated.
But that is in my recent past.
I am not over it yet, and not sure if I ever will be, but back to the topic at hand…
When I was thinking and thinking and thinking about everything financially when I knew what was coming, I worked on figuring out how much I would need per month. I knew there would be less money coming in but also these circumstances changed my bills a lot too.
I did not need before and after school care anymore. And any of you who pay this on a regular basis, know how expensive it can be. I only have one child to pay for. I cannot imagine if you are paying for two or three children. More power to you for that.
Also, I had a car payment that had one more year to go. I made a conscious effort to pay towards the principal amount every chance I got. Whenever I had $20.00 or $50.00 extra, I put it towards that debt. It took a while, but I paid it before it was due.
Those two amounts alone saved me over $700.00 a month. That is basically a second job amount. That helped me to see that there were ways to conserve and cut back.
My next cost cutting exercise is going to be paying off a higher interest rate credit card. The monthly interest eats up most of the minimum payment, so it may take me a long time. The first step is to not use the card, and to not even keep it with me. Then, I will make an effort to pay more than the minimum payment and little by little, the amount will come down. At least, that is the initial plan.
I was going to investigate the no interest rate credit cards but I’m not sure that I would be approved without a job, so I may have to do it the old-fashioned way, month-by-month.
- By the way, if you do the zero percent credit card to get rid of a higher rate card, make sure you read the fine print. I have seen a lot of offers that charge you a balance transfer fee.
- Some are 3% and some are 5% of the balance that you are transferring. That could add up to a serious amount if you owe a lot of money. If you had $10,000.00 in credit card debt, a 5% fee could cost you $500.00 to transfer that balance. Even a $5,000.00 credit card debt could cost you up to $250.00.
- So, pay attention to the fine print before you sign up.
That is just a little tip from me. I usually look for the fine print when something sounds too good to be true. That is what gets you to read their ad in the first place, right? Lots of Get Out of Debt programs out there and lots of companies trolling to take advantage of hard-working people as well.
So, I will continue to try to Get By With Less, like the title says, while I look for another job or other career possibilities. Maybe I will be able to get rid of that credit card down the road, or at least have less interest per month so that the principal amount actually starts to go down. We will have to see as I go along.
How about you? Is debt creeping up on you, as well? Do you feel like all you do is work, work, work, and never get ahead? Do you have any tips that can help others that have worked for you? There are some things we need, like rent/mortgage, electricity and heat and food that we cannot go without, but are there ways you have found to conserve and have less expenses? I know some people do not use cable and have other resources for television and movies. I have not made that leap yet, have you? Comment below if you would like to share your budgeting tips.
I know how you feel about feeling lousy about giving loyalty to a job (where no one appreciates it). That’s why every time I earn a day, I take a day off (so roughly at least one a month). I call it a “mental health” day and I make sure I do something fun, inspiring, or—more recently—toward our newly re-established businesses. I am glad to hear that you are working on feeling less stressed with the amount of debt you are carrying. And you will get the type of work that you desire, if you keep seeking.
Thanks and you are smart to take the days. I always felt guilty because it was hard to get substitutes and admin was always saying there was no money, which wasn’t really my problem, it was theirs, but Catholic guilt…
Hopefully, I will be able to figure out how to make enough money to cover the monthly bills but I’m taking this shot. I saved the money for a rainy day, and the weather is rainy now. I just can’t do it for too long so I spend hours at the computer researching and learning.
Good on you for making extra principle payments. So many people don’t know this is possible. We haven’t cut the satellite TV yet. My husband needs his sports. But he really negotiated them down on the price to $60 a month. I personally would rather not have regular TV at all because I get so much more done without the TV. We have Netflix and Prime and that’s enough for me. We don’t have debt, but I think we Gen Xers need to plan on being kicked to the curb because we cost companies more in salaries and benefits.
That’s a good price for tv. Don’t think I could live without it but I try not to turn it on during the day when I should be working on my writing. Good for you for not having debt. You are in the minority on that one. I cut my down but I still have the credit cards. Oh well, still better than I had before. And yes, I think that was part of the reason of mine too, and I wasn’t even making that much but new people don’t get a pension and us old-timers did. Such a crock, right?
Wishing you well. So hard to find yourself in this position when you have worked so hard and been a loyal employee. You are certainly handling it all well and I do hope things become easier for you.
Thank you. So far, I’m fine but we will see if I can make a go of this or have to go back to a regular day job. I’m hoping for the freedom to write and use my creativity in other ways. Once the stress was gone from that job, I was able to let other ideas come in. The stress of the every day was blocking all that.
I am in the same boat but I am leaving a toxic company at the end of the month. No new job, and I cannot wait! Well. To be free of the harassment and bullying. Good luck
So many other years where I would be freaking out about not having a job, but with age apparently I’m gaining wisdom too. Life is too short for toxicity! I hope you can find something that suits you and that you enjoy. No one should have to deal with harassment and bullying and some people think they can get away with it when they are in a position of authority. Doesn’t make it right. Good luck to you too.
I am in the same boat! Divorced almost 3 years ago now and the finances hit me hard!
Being a lot smarter with my money this year but it’s still HARD.
Lots of working, lots of “no’s” passing on catching up with friends and going out to do things..it’s really a change of habit…and it’s hard.
There are bigger and better things coming your way!
Wouldn’t you just love to not have to think about the money and just enjoy yourself? It’s annoying sometimes when there are so many who don’t worry about it and never have and probably never will. I’ve been researching other ways to make extra cash and see if I could do something more without having to work at night outside the home. Divorced is a hard adjustment, I’m sure, going from two salaries to one and learning how to adjust to that. Good luck and bigger, better things coming your way too.