Weekend-Engagement WEEK #169: No job and no income but it is possible to get out of the rut

A very natural first reaction

If I were to find myself in a situation where I lose my job and income, my first reaction would be to lose my temper, cry, get angry with myself and despair. We are human and as human beings we have emotions and in that situation, although I am a very calm person, I know that there will be a few minutes of hysteria.

Study balance sheet of assets and expenses

After the initial hysteria, as if it were a major catastrophe, with the impact of the loss of job and income, I would carry out an assessment of my assets and expenditure.

Financial cushion, consumer goods and their sale

As a forward-thinking person, I always like to have a buffer in my bank account balance in case of very adverse situations. Although nowadays, with an inflationary crisis, this financial cushion is not very large and will last only a short time, but at least for the first 2-3 months I will be able to deal with basic expenses such as food, medicine and essential bills such as electricity.

At the same time, I would do a review of what consumer goods I have in my possession and see which ones I could sell in a second-hand shop.

For example, I don't think I have watched TV for more than 3 weeks. I think that's one of the first things I would sell and I think I could easily get at least 500 euros out of it considering its size and that it's not a relatively new model.

Another product, which I have in my house and since I had a small back injury I don't use is the exercise bike. I think I could get at least 50 euros out of it.

My camera would be an income in case of sale. Although I'm in a lot of pain, I could pawn it in the hope of turning the situation around and being able to buy a new one.

After all, these are things that I have to have a value, but there is more value in being able to eat every day and have a roof over my head.

Other assets, such as my car, I would not sell, because if I were to lose my current job I would return to the village and there you need a car to be able to travel to future jobs, to go shopping or to go to the hospital.

Expenses

Each person has more or less fixed expenses such as food, energy, housing and leisure.

Of the four main areas of expenditure, there is one where it is impossible to reduce expenditure to zero, and that is food. However, savings can be made in this area by buying private label foods instead of leading brands and by buying cheaper foods such as rice or grains instead of high-cost meat and fish.

In the case of energy, the elimination of certain electronic appliances in everyday use and the use of energy-efficient light bulbs could be ways of reducing energy bills.

Leisure, where money is being wasted without us even realising it, would be one of the big niches for eliminating costs. For a while, until I managed to get back on my feet, I would do without it completely, such as museum tickets, dinners in restaurants, beers in the bar, etc.

The housing in my case I would leave the rented flat I have near the office of the company I work for and I would definitely go to live in the village in the family home with my mother, as part of the house is my property.

Family is a great support

In times of crisis, in the Latino and Spanish communities in general, there is a strong attachment to family ties.

It would not be the first time that I have left money in my good economic times, so I believe that there will be several family members who will be able to support me financially or by giving me some paid work.

I'm not falling off the wagon

In Spain there is an expression that says "I'm not falling off the wagon". This expression means that you can accept jobs or situations that other people would not accept.

My family origins are humble, country people and I would not hesitate to accept low paid jobs such as working in livestock farming or in the countryside to get ahead and earn an initial income to get out of the hole.

My market value is my most important asset

Take paid jobs yes, but without losing sight of one's market value.

As a doctor in chemistry, with more than 15 years of experience giving training in analytical laboratories all over Spain, I know that my market value is high. I know this because it is a rare training course in which the manager of the company I work for does not ask me if I would be interested in joining his staff. Therefore, I think it wouldn't take me long to find a job as an analyst or lab manager easily.

In the last 7 years, apart from training, I have specialised in sales of scientific instrumentation and by the sales figures I am not bad at all, as I have always achieved the sales targets.

In addition, I have a lot of information about the company in terms of sales strategies, prices, customer base, etc.

Will my former competitors be interested in me? I think so.

HIVE as a source of income

Apart from everything mentioned in the crypto-universe, there is also a way to make money called HIVE.

Creating quality content is a way of extra income and is the reason why I had not put my computer and telephone on my list of expendable goods, as both are two essential tools for creating my posts.

I hope that I never have to use this reflection in a crisis situation and in case I need it, thanks to #weekend-engagement I already have a basic structure for action.

Thank you @galenkp for proposing this valuable option.

Best regards.