There Are Always Options

So it's Thanksgiving Day and my family is driving to Wichita to celebrate the holiday. We are getting close to my parents' home when I hear a clatter under the hood. I pull over thinking something has come unclipped and needs to be reattached, but no, it is the serpentine belt coming apart. The outer two edges are flopping wildly, slashing at vacuum hoses, etc., under the hood. Doesn't look good, but at least it didn't break!

We made it to my parents' home. My brother-in-law came out to pick up our family (he has a minivan, too!) to take us to the place of our Thanksgiving celebration (not feeling so festive at the moment). He loaned us his van after taking his family home so we could get back to my parents' and return for a visit the next day. Instead of visiting my sister, my dad, my brother, and I worked on the van, replacing what seemed like everything on the passenger side of the motor (including the water pump for you Dave Ramsey fans). Total cost: $140 and a lot of inconvenience on a holiday weekend.

The advice I want to pass on today is simple, but we often bypass it in the stress or emotion of the moment.

Consider your options

But what do I know about repairing a car? It is so cold and this is a special weekend. I should spend it with family, not repairing the car. Again, consider your options.

Who do you know that could help? My brother-in-law was willing to help with a ride and a temporary vehicle. My dad and brother were willing to help with the repairs (both time and expertise). All I had to do was lay down some pride and frustration to allow for the blessing of their generous gift. More than likely you know someone who could help. You just have to ask. Whatever happened to neighbors and friends helping each other? Don't let the spirit of giving lapse. Look for opportunities to help others and ask for help when you need it.

What must be done and what can wait? I am often tempted to do things that are unnecessary for convenience. "While I'm at it, I might as well..." Thankfully, I don't use credit cards. Back in those days, I would have not only rationalized the repairs to the van, but probably a new set of tires as well! While a new set of tires might be nice, and even needed in the near future, they were not necessary to fix the problem at hand. So, if they weren't in the plan for the month, they should wait. Especially when facing something unexpected, stick to the necessary. Times of crisis are not the best to make decisions - especially financial ones.

What can you really afford? You can afford whatever you can fit into your budget for the month! But isn't this what an emergency fund is for? Yes - and no. I could have coughed up several hundred dollars that Friday to have a shop do the work. It would have been well within the $1,000 baby emergency fund we have in the bank. It was VERY tempting. Don't use the emergency fund unless you have an emergency - and almost nothing is really an emergency. If everything is an emergency, you won't have an emergency fund left when a real emergency comes along! Try, if at all possible, to find it in your budget.

What are you willing to do to win? Stay focussed on the goal. Remember, there are times when we "live like no one else so later, we can live like no one else." Even though it was in my emergency fund, I am closer to my goal of being debt-free because I didn't spend the money on labor. It took some effort, some discomfort, and inconvenience, but in the end it was worth it. I got to spend some great time with my dad and brother, fixed the van, and was actually able to budget the repair into my December budget rather than tapping the emergency fund. Remember, it's your behavior that leads you to win.

This post is not to toot my own horn, but to give a real-life example of how it is done. I run into people all the time who have lots of excuses why they are not getting traction financially. They "don't have a choice." They refuse to consider their options.

You may have to take your car to the shop because you truly cannot do the repair yourself and don't know anyone who can help. That's okay IF you truly have no options. It may not even be your car that is the concern. But whatever you are facing, always consider your options.

Make exploring and utilizing the options you have a habit. If you are willing to do a little extra work, suffer a little inconvenience, and allow some people in your life the opportunity to help, you will find there are many different ways - many options - to solve the problem you are facing, whether it is financial or otherwise.

Getting a job (part 2)

Earlier I wrote about my friend who had lost his job but lost no time in finding several very realistic prospects. I believe one reason he was able to capitalize on those prospects was that he had guarded his good name. Today's post discusses another reason he is going to win.

2) The proactive approach always wins. He began his search the day he lost his previous job. He looked at all job options rather than limiting his search to a narrow industry or job type. He didn't sulk or take a break, but he took care of the important business right away. He got the unemployment insurance claim process started so that if he needed it, it would be ready. He sent out resumes, searched online job postings, and networked with everyone he knew. He and his wife addressed the personal finance side of the situation. What's more, they had already prepared for the eventuality of an emergency occurring. He sought counsel.

I often talk to people who are looking for jobs. They send out resumes in a shotgun blast and wait for callbacks. It's not going to happen for them. They don't get interviews. Don't think I'm minimizing the difficulty of finding a job, especially in a tough economy. But people are being hired every day. It might as well be you.

a) Prepare for emergencies (they will happen). Because he had prepared (had an emergency fund), the stress of losing a job was somewhat diminished and my friend had the emotional and financial capital to take some time to make a good transition.

b) When you're knocked down, get back up. Don't sit and sulk for two weeks before you engage in the process. You were planning to go to work tomorrow before losing your job, so go to work tomorrow looking for a job instead.

c) Keep seeking until you find. If at first you don't succeed, try, try again! Follow up. Call again. Learn to distinguish yourself. You have only a few moments to make an impression, so be ready. Unending persistence will pay off. Read The Go-Getter by Peter B. Kyne. It's an old book that will teach you how to be one!

d) Do whatever it takes. Lay down your pride and even your dreams for a while. If you still aren't finding what you need, secure temporary work to survive. There are jobs out there. They may not be in your chosen field and they may not be appealing long term, but when you face a crisis (like losing your job) and you aren't prepared, you don't have time to wait for the perfect opportunity.

These two posts are not an exhaustive list of what to do if you lose your job, but represent my initial observations after talking to my friend about his situation.