Wednesday, November 26, 2014

Job Loss. Now What?

I never thought I'd be in this boat, but I was fired from my job yesterday. I am a hard worker who showed up on time, got along with my coworkers, and did what was asked of me. But I was let go for insubordination? 

Oh and I hung up on a customer who was a jerk, but still... I had one write up from said hang up and was told that three is automatic termination and yet I was fired. Hmm, whatever... I'm choosing to look at it as a blessing!

While expenses will be tighter one just one income, now I must be extra diligent with the finances. Here is what I will be doing:

 Cut out all the fluff
Cable, the Sunday newspaper subscription, and my Kindle Unlimited monthly subscription will all be cancelled immediately.

Cook and bake from scratch
Now that I have time I can plan our menus based around the sale items, pair that with coupons for the most savings, and cook and bake from scratch. Also eating all leftovers.

Reduce expenses
Keeping electronics and lights off when not in use will save electricity. Not leaving the tap running while brushing teeth or washing dishes, as well as making use of the cold water that goes  down the drain while I'm waiting for it to heat up. Limiting car trips by combining errands will save on fuel costs.

Needs are the priority.
It is my goal to live on as little as possible, while still maintaining comfort. The things we need will be purchased after price comparisons and on sale if at all possible. The less money we have going out, the more can be applied to savings and debt reduction.

Minimum payments on debts
For the time being I'll be making the minimum payments on all debts except the one with the lowest balance.

Continue saving
We have a little cushion for which I am thankful, but I will continue to make savings a priority. The more we have tucked back in savings, the less we will need to rely on credit in an emergency.

Keep a level head
The worst thing to do is panic. Though money may be tighter than what we have grown accustomed to, I'm fairly certain we can get by on Alfred's income alone. I will be going over the budget in the next few days in preparation for December and will see where we stand.

Be creative
I'll be looking for more ways to be creative here at home to create a beautiful life on a budget. When funds are limited, creativity gets put to greater use. It becomes an adventure!

Count my blessings
I consider myself blessed because we have been actively seeking to reduce our debts and build a cushion. Plus Alfred works for a great company that pays well. I believe all will be well and that unexpected blessings will unfold along the way!

I have always been happiest at home. Though I had planned to work for a couple more years to speed up debt repayment, I plan to not only survive but thrive with this unexpected curve ball.

You gotta love it.


Debra said...

Oh Tracy! I am so sorry. I keep hearing about this unwritten 'one strike, you're out' policy at other places with other friends, too, and it's so not fair. Like any of us are perfect! gah.

But I know that you'll make it. You are a natural born homemaker who enjoys finding all the ways to make it work. Everything will be ok and I'll be praying that if you choose to look for another job someday, that things will work out better.

Hang in there and keep seeing it all as a good, doable challenge, ok? If anyone can do it, you can! Hugs, Debra

M Ripples said...

Sounds like you have a good plan and are handling the job loss well. I'd be in complete panic mode and can guarantee there'd be lots of tears. But you seem focused on what you need to do next. Good luck!

allisamazing said...

I am sorry to hear about your unexpected job loss. My brother-in-law was fired a few weeks ago after working for the company for 27 years. It was a complete shock. I love your positive attitude :)

Pattie - Chicagoland, IL said...

From all the reading I have done here I have no doubt that you will pull thru this, and pull thru it well. More power to you!

Cheapchick said...

While I am sorry you got fired, this is a blessing in disguise. Your heart wasn't in it and perhaps you can find other ways to reduce your debt without working outside the home. Have you ever thought about ebaying or part-time child care?

Karin Durant Ralston said...

Tracy, I am always amazed at you. In the time I have known you, you have become an expert in saving, planning, organizing, homemaking, and so many other things. The one thing that tops all of that is that you are such an amazing mom and such a wonderful wife to my brother (ok, that was two LOL) I am so proud to call you my sister-in-law. Love you!

Tracy Hathcock said...

Debra - I do not plan to look for a job for the time being. For now I'm just going to enjoy being home with my family doing what I do best!

Tracy Hathcock said...

Thank you M Ripples, allisamazing, and Patti!

Cheapchick - my heart was not in it. I am considering other ways to earn money from home. Child care will not be one of them though! :)

Tracy Hathcock said...

Karin, thank you! I wouldn't call myself an expert by any means, but I'm pretty darn good at what I do! ;) Love you, too!

Terri Cheney said...

Tracy, That is lousy timing but I'm willing to bet there was a need to reduce forces or you'd never have been let go for one strike.

You've changed your pattern of thinking this time around and have really struck hard at debt load so I think you're going to do just fine. I almost want to say, "Congratulations! you're home." Perhaps it's just where God wants you to be at this time.

Tracy Hathcock said...

Terri - I think this is perfect timing, right as the holidays kick off! I can't tell you how happy I am to be home. I'm going to enjoy it while it lasts!

Kathy Richter said...

You may want to register with an agency, I.e. Kelly Temp Services. They have great opportunities and you can work when you want to. I took a 2 month temp assignment in July and am still there

Fiona said...

Your positive attitude is beautiful and inspiring Tracy. Because you have been actively reducing expenditure and paying off debt you are able to see the silver lining. How exciting that you can really enjoy the holiday season at home with your family.

Theresa F said...

Sorry to hear that. Perhaps God has you right where you are needed most.

Rhonda said...

I agree with Terri about the situation. I am sorry you left when it was not your plan but I know you are happier at home.
one way or the other, it will all work out!

Mrs. Miano said...

I agree with's a blessing in disguise....I know you have written in the past about wanting to make it back home full time....well you have been handed that on a silver platter....RUN with it!There are MANY things you know to do AND Watch how many MORE things God will teach you!! TRUST Him and hold him to his promises to meet your needs..He WILL do it. U r a great blogger....maybe that is an area you have a gifting in. Maybe look into ways to grow that and earn a little $$ along the way...just a thought :)