My Unemployment Budget

budget

Running the Numbers.

1. The Outgo per month

Rent:  $425   (I’m so glad* that I moved out of that expensive apartment in January!)

Phone:  $65    (Yes, I still have my iPhone. Sigh.)

Student Loan: $40    (This one is not bundled with my others so I pay on it every month.)

Food: $400    (Yes, this is way too high**. I am not cooking and still eating out a lot.)

Public Transportation: $100  (Yikes! No longer getting free bus pass from employer. )

Misc: $70  (This may go up as I incur job seeker expenses, such as buying an interview suit, etc.)

Credit Card Debt Minimum Payment:  $650  (Ouch!  Did I mention how much I HATE debt!?)

Student Loans: $0   (These are on forbearance. Whew!)

Outgo Total:  $1,750

* – However renting a room under someone else’s roof introduces another set of challenges.

** – My goal is to start cooking more, but so far I haven’t encountered the copious amounts of free time that I am supposed to have at this point. Another part of it has to do with my living situation.

2. The Income per month

Unemployment Benefits:  $1790 (est.)    (After years of working myself into burnout and paying taxes through the nose.)

Second job: $640   (This income is NOT steady. It is ‘as needed’ work only. So I may not earn all of this in a month. Where I live you can earn up to a certain percentage of your unemployment income without it reducing your benefits.

Side hustles:  $0 to $100    (I haven’t started any of these yet, but I’m hoping for pocket money. Rest assured everything is legal and on the books, LoL.)
Total Income:  $1790 (+ $0 – $700)
TOTAL BUDGET BALANCE = +$40  (+$0 – $700)

What Does This Mean?

Well, the good news is that for the foreseeable future (5 months), I will be able to pay my bills while I look for work. This is of course, barring any unforeseen expenses. I don’t plan to remain unemployed for 5 months, but you never know. This is a lesson learned for me, to keep my living expenses low. I have learned that no job is secure and that I need to be out of debt more than anything.

I did not intend for this blog to become an unemployment blog, so while I am working at getting  work, I’ll start writing about other things as well.

Until next time!

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“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW)

Post-Job Loss Euphoria

unemployed

Thank you to those of you who sent me well-wishes after I lost my job a week ago.

I thought that would be devastated by losing my job. I was shocked by the swiftness and finality of it, but I was not surprised.  They say that job loss is one of those things that everyone will go through at least once in their lifetime. Well, I guess I can cross that off my bucket list.  I did spend one day feeling depressed about my lot in life. And not one former co-worker has contacted me to say anything. It’s like I never existed. But I was only down for that one day. I’ve found that another emotion has taken over.

Enjoying the sun

Relief! I really was not happy there. And now I’m happy that I don’t have to put up with some things that I had to deal with all the time. I should have made moves to get out sooner, but I felt trapped by my debt. So they made the move for me. Now, I feel like I have a chance to make a fresh start.  When I say fresh start, I mean finding a career that is better suited to me.  And I would do that, except that I don’t have the time or money to start over. I have debt that is accruing interest daily. I do want to get my side projects off the ground, but those take  upfront money to make happen. So, right now I’m in a holding pattern. I have tons of ideas and the time, but not the money. I am in emergency finance mode until I line up another job.

job-board1

On that front, I have spent the last week applying online for jobs. I have submitted about 15 applications. That may not sound like a lot to some people, but in my small niche industry, that’s a large number. Most job postings in my specialization are for senior level positions.  I’ve applied for all decent jobs at junior/mid-level that I can find that are here on the West Coast.

Here is another issue. I like the small city where I live, but it is rather provincial and not diverse at all. My dating life has been nil. I’d like to move to a place that is more cosmopolitan and multi-cultural and where my dating prospects will hopefully be better as a single woman. I don’t want to move to the middle of nowhere just to have a job. No offense if you happen to live in the middle of nowhere. But it is another thing that I will have to keep in mind depending on how long I am out of work. Hopefully, I won’t have to make that decision. I will see what happens.

Good news!

I have an interview. This was a job that I applied for before I was let go. I’ve gone through two rounds of interviews with them by phone. The second one I was sure I bombed. I was in a tricky situation because during the first interview I had a job and right before the second interview, I no longer had a job. I had to explain that I was no longer employed and why, etc. The interviewer did not seem very interested, and the interview only lasted 30 minutes instead of  1 hour. I was shocked when I was notified that they want to fly me out there for a third round, all-day, face-to-face interview. When I saw the email, I thought it was a mistake.  No mistake.  I’m guessing that the first interviewer liked me and overruled the second one.

interview

It is a senior position. I must have applied while in a state of delirium, because the job is too senior for me, but who knows. In my field, our interviews are  4 to 8 hour gauntlets, complete with a project exercise, a portfolio presentation, and back to back interviews. This interview will be an 8 hour one.  I do frazzle easily, so I’m not getting my hopes high on this one. However, it does give me something to hang on to for right now. I haven’t heard back from any of the other places I’ve applied to. If I can make it out of this interview without embarrassing myself, I will consider it a success!

Nokia-Lumia-800

On the personal front, I still have not told my family. My parents will flip out and overreact. They will do this because I “don’t have a man to take care of [me].” My siblings will be concerned but more steady.  I will have to have “the talk” this weekend.

In my next post, I’ll give a run-down of my finances and what my emergency budget and strategy will be for the foreseeable future.

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“Debtor’s prison is real, and opportunity cost is a bitch.” (DDSW)

It’s official. I have been fired.

As of about two hours ago, what I feared and expected, came to pass.  I was called into a Friday, 4pm meeting with my manager. She informed me what the situation was, and that she had to lay me off.

I was expecting it as you all know, but I thought I’d be able to work out a transition plan where I could at least work until I found something else. No. Everything was effective immediately. That caught me off guard. I got teary eyed at the suddenness of it all.

I’m not broken up about losing this job very much. I have been submitting job applications to other places for the last few weeks. I’m stressed out about how I’m going to pay my bills. If I didn’t have any debt, I could make do because my living expenses are now so low. But, I do have debt, a lot of it. How am I going to make those minimum payments if I don’t get another job right away? I. hate. debt.

I hate that debt is causing me so much stress. I hate the way I’ve felt all week, waiting for the axe to fall. I watched my manager avoid me all week. I sat at my desk with nothing to do while co-workers had three projects each. The last hour before the meeting was nerve-wracking.  I hate being at someone’s mercy like that. I will never ever go into debt again. No amount of stuff is worth this. My number one priority is to get another 9-5, live as cheaply as possible  and pay this debt off as fast as I can.

I have to tell my landlord and re-assure her that I will be able to pay rent. I will be eligible for unemployment benefits.

I have to tell my family (my siblings and parents) and deal with that. That’s going to be the source of another post. I’m sure of it.

Sigh. My landlord/roommate #1, a 59 year old woman, just came back to the house with her boyfriend. That makes me feel so alone, because I have no one to console me right now. I don’t think it has completely hit me yet. I’m unemployed. I am unemployed. I have no place to go on Monday. And the clock is ticking.

Soon, I will formulate a plan of action (filing for unemployment benefits, ramping up job applications, etc.). For right now, tonight, I just need to cope and deal with this emotionally.