Now that I’ve had a moment

I wrote and posted Cutbacks right after receiving the email from my colleague. I’ve hinted at it in my blog but I don’t know that I’ve actually come out and said it: I suffer from anxiety. I wrote that post as a coping mechanism to deal with the panic attack that I was having before it became full blown. I’ve yet to have a full blown panic attack in the workplace and it’s an experience I’d like to avoid.

The technique worked! I was able to articulate my fears coherently and though I was shaky for the rest of the day I got through it. This blog was created for me to track myself and my relationship with money and hopefully foster a healthier relationship between us. Today I started battling my fears as outlined in the post and really assessing them.

Fear 1: If I was to be let go I have enough funds to sit tight for a month or so.

I’ve talked a bit about how I save before. My combined savings has me covered for ~ 2 months at my current spending. If I were to be let go I can guarantee that I wouldn’t be spending the same amount as I do now since approximately 15% of my costs can be indirectly attributed to my job. These are my very liquid savings.

I’ve also got funds with a financial firm that will take less than a week to get my hands on if needed. Those funds would cover me for another 2 months at my current spending. This means that I do have the funds available to be out of work for 4 months and not go into debt. If I were to be even more frugal I may be able to stretch those dollars out.

FEAR 2: I haven’t educated myself enough about the protection I would receive from the union or if I would get paid out.

This was easier to fix. I’ve been at this company for some time  so I’ll get 8 weeks notice, I may not be allowed to work at that time but  I’ll still be paid. While on my notice I will be placed on an internal waiting list to apply for jobs and be able to look for work outside my company. At any time during that period I can opt for a severance package which is 1 weeks pay for every year I’ve worked here.

FEAR 3: I know that it’s not a positive climate out there so I have no idea how long it can take for me to get a new job

Not easy but I’m beginning a document to highlight all I’ve done in my current role so I can be prepared to work on my resume. I’m also going to set some time aside to work on my LinkedIn profile

Conclusion

It’s not nearly as bad as I feared! In goal setting I mentioned wanting to have a six month buffer in my Job Loss fund. It’s a great goal that I will continue to pursue but between my various savings accounts I do have at least 4 months worth of buffer. This isn’t including the layoff period pay and possible severance package which would give me a minimum of 2 months pay.

Armed with this knowledge I’m feeling much more secure about my future and have the confidence to continue aiming for all my 2016 goals.

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11 thoughts on “Now that I’ve had a moment

  1. Great proactive actions! As I am having a year off, I can vouch for the fact that working actually costs some money. I moved closer to my workplace and public transport still cost me $1000-$1500/year. I also had less time to do groceries/pack lunches/prepare dinners, so there are often additional costs there depending on the week. I don’t know about your workplace, but at my previous workplace there was quite a culture around sharing and gifting. People were always bringing in cakes or buying each other a coffee or a chocolate bar or putting a small flower on everyone’s desk. We also had farewell lunches (at our own expense) and it seemed like every few weeks there was some event!

    It’s also always good to keep your CV up to date. I admit it’s something I only do when I am looking for work, but it would be good practice to always build on it so we don’t forget anything and to reaffirm to ourselves the skills and responsibilities we are constantly building.

    And good on you for acknowledging your anxiety, understanding how it works and proactively implementing your coping mechanisms. Sounds like you did an excellent job tackling it this time 🙂

    Liked by 1 person

    1. We’ve worked in very similar environments! There’s a fair bit of ‘fun’ expenses related to the work as well as time related things in my current budget. I’m so glad that my feeling on this is lining up with your experience. It definitely helps ease my mind!

      Like

  2. You have just shared a personal experience that will likely help others suffering anxiety issues deal with their problems in a methodical way to reduce their symptoms. When a person who experiences anxiety offers solutions, readers will pay more serious attention to these suggestions. You are a remarkable person. I wish you the best outcome possible.

    Liked by 1 person

    1. Thank you, your comment has touched a very sensitive place. I hesitated writing the first paragraph because my anxiety issues are the strange relatives I pretend don’t exist.When they show up at my door demanding attention and causing a scene I’m embarrassed; terrified that someone will know that I clearly don’t have my act together.
      Slowly I’m learning how to recognize the sound of the anxiety car pulling into my driveway so I can open the door prepared to deal with them in a way that doesn’t have me taking time off work to recover.

      Liked by 1 person

  3. This post has inspired me. I’m horrible at saving. The only way I prepare for the future is the fact that I pay up some bills when I have extra money. I will definitely be shifting through your posts for more tips.

    Liked by 1 person

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