Life Coach Magazine

Crisis! What Happens When You’re Reduced to an One Income Family?

By Bren @Virtual_Bren

Let’s face it, in today’s society you almost HAVE to have a two-income family to make ends meet, but what happens if one of those incomes stops coming?

Crisis!

Today’s workforce is a dog-eat-dog-world; meaning, it’s very competitive. Many people are out of work due to eliminations and company downsizing. If you have marketing skills (ie., computer skills, marketing skills, public relation skills, or engineering), you may have a leg-up on some others.

But what happens if your someone who doesn’t have very marketable skills. What happens if one day your boss comes to you and hands you a note that says “YOU’RE FIRED!”?

Instant Panic!

You never saw this coming. Your boss never gave you any warning that you were doing something wrong. He just canned your a$$!

Without having that one income coming in, your instantly begin thinking about:

  1. How you are going to make ends meet?
  2. How are you going to pay your bills?
  3. How can you possibly take care of your family?
  4. How are you going to tell your family?
  5. What will you do now?

It’s Non-Gender Specific

Regardless if you’re male or female, the above thoughts can’t help but pop into your head! It’s perfectly natural to panic!

This is NOT the time for family members to argue and point fingers!

The person who got “canned” is already going to feel bad enough. They don’t need other family members pointing fingers at them and getting angry.

When one loses their job, work together, as a couple to find solutions.

Everything will work out.

I know, easier said than done. Sometimes it doesn’t always work out but those are rare cases.

What Can You Do?

As the person who was fired, I would suggest:

  1. Going to your local Department of Labor and see if you eligible for unemployment. This may be income to help tie you over until you find a job. For the record, most Department of Labors have a job seekers service.
  2. Start checking the newspapers for Job Opportunities.
  3. Search online for employment websites like: Monster.com, Indeed, CareerBuilder.com
  4. Word of Mouth – no matter how hard it may be to admit to your friends and family, let them know you are seeking a job. They may have a friend of a friend that can help.
  5. Discuss other options with your spouse/significant other.

What Can the Other Person Do?

If the other bread-winner in the family has marketable skills, they might be able to bring in a little extra cash by:

  1. Blogging for money using Affiliate Marketing or Sponsored Posts.
  2. Pick up a part-time work-from-home position. Most of these can be found on the employment websites.
  3. Seek a part-time job outside of the home.
  4. If one is creative, make products that you can sell.
  5. Write ebooks and sell online.

Mind You This Whole Process Can Be Emotional

Try not to let the loss of an income get you down. I know it’s difficult however we must remember to be there for one another. Watch one another for signs of Depression or unusual Behavior. If need be, consult your physician.

Remember

There is usually state assistance available IF you meet the eligibility requirements. Contact your local government office and see how they can assist you.

Over To You

Have you ever found yourself in the position of going from a two-income household to one without notice? If so, how did you handle it and what did you do?

Do you have other tips or resources that our readers may benefit from knowing? Please share below.


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