Imagine if you were laid-off today. What would you do?
If the prospect frightens you or the only response you have is to madly send out resumes for job postings, it might be time to do a checkup on your capacities and see which ones need a tune-up or an upgrade.
Check your Financial Gauges
I was once told by a manager that a mortgage is motivation to perform well on your job. In other words (I thought cynically), one is not a slave to the job; one is a slave to the mortgage! It’s no wonder that the word mortgage comes from the French meaning “dead pledge”.
What dead pledges have you made? Is your lifestyle such that you cannot possibly afford it with any other job? If you made no other income starting today, how long could you last?
The recession has shattered the illusion of the “you can have anything you want” attitude of financial management. As it turns out, every dollar spent on a credit card is another tiny ball and chain snapped on to your neck. What freedom is there when you can’t leave your job? How maneuverable are you if you have no savings?
I use to think that paying down debts, saving money, or cutting expenses was an obligation. But today I see every dollar saved or paid down as building my “freedom” capacity, that ability to respond to challenges or take advantage of opportunities.
Take stock of your financial books, and make some decisions!
Fortunately, finances aren’t the only measure of capacity. If you’re low here, you can draw upon other capacities which will be covered in succeeding blog posts.