Necessities

Now that you’re unemployed, the things you used to think were absolutely necessary are going to change.  First of all, if you used to wear suits to work, suits are no longer necessary.  You might want to keep one however, for funerals and weddings.  If you drove to work, you won’t need a car anymore, but getting rid of your car is not usually a good idea.  You will however, be saving money on gas, won’t you?  So what are the necessities?  Food, clothing, and shelter, and not necessarily in that order.  But, the important thing to remember is that all of those items don’t need to cost you an arm and a leg, and that during this period in your life you will need to change your values a bit, but that doesn’t mean you have to live like a bum.  Did you notice I didn’t list “money” as one of the necessities?  That’s because it isn’t one.  Consider this:  If you can’t eat it, drink it, wear it, or make love to it, it’s not necessary.  Maybe I should have listed sex as a necessity, but some people won’t agree with that, so for now, let’s say it’s a gray area.  You’re unemployed; it’s time to start thinking outside the box.

Benefit from my research.  I’ve grouped the best stuff in the categories you see to the right.  The idea here is that you can live well on not a lot of money if you’re smart.  For example:  Food is a necessity, but going out to dinner is not.  Cooking a nice meal at home is often much better than you’d get out, and certainly a lot cheaper.  Clothing is also a necessity, but if you don’t need it, don’t buy it.  Shelter can range all over the place.  If you own a home, consider renting your home, and downsizing to a small apartment, or a boat, or a tent.  Don’t laugh; I own a 38′ sailboat that I live on in the summer in New England.  My mortgage on the boat is $500 per month.  Add in dockage and maintenance, and it’s equivalent to renting an apartment, but a helluva lot more fun.

The thing is this:  Yes, you’re out of work, and eventually your unemployment benefits will run out, but in the meantime, you have an opportunity to do all sorts of things you couldn’t do when you had a job.  Now is the time to cut back on your expenses, but expand your horizons.  In one month, you could save enough money by not driving your car, to go out and buy a nice bike from Walmart for $160.  Then you could ride your bike everywhere, and get into shape at the same time.  Oh yeah, quit the health club…..complete waste of money.

Don’t forget that while you’re unemployed, you are still capable of earning an income, and opportunities will come up from time to time where you can earn some extra cash.  Now is a good time to explore starting a new business, or a home business, or even an internet business.  You will get some good ideas in the articles you find on this site.  Even if you decide to go back to a “real” job, you might be able to keep your new business going as well.  Remember this word: Diversify.