EMERGENCY MONEY DISCUSSION:

It may or may not be worth your time depending on your income and how long the lay off is. If you do get laid off you probably are eligible for state unemployment which now has an automatic additional $600 a week for 39 weeks provided by the Federal Govt. Assuming you make reasonably close to $100,000 a year your state unemployment should be close to $500 a week give or take depending on your income and state. Which would bring you up to $1100 a week or so. You would need $27.50 at 40 hours to break even. I am not for working the system and would much rather be working, but I am not going to risk my livelihood working for peanuts. Your employer paid in to unemployment insurance for a reason and the feds are paying the $600 for a reason. If someone doesn’t want to use it that is their option, but those who do it is there temporarily until their real job comes back. Hopefully their job comes back very soon as not working isn’t good for many people who have always worked.

 

You are correct at looking at all options and you should do what you feel is best as everyones situation is different. In 35 years of full time employment I have only been on unemployment once before this. When I first went to UPS in 2002 I was laid off 7 months. I applied at every LTL and other jobs that would get me home and nobody would hire me. Most told me because we know you are going to leave us the minute UPS calls you back. They were correct and so I drew unemployment. I finally took a BS OTR job after 4 months because I was bored. I worked two weeks and was gone the entire time and made less money than my unemployment. But it made me appreciate my real job when it finally came back so it wasn’t a total loss.
Your loans will be ok as nearly everyone in America that has loans and is laid off is in a similar situation. Don’t pay your car loan instead of feeding your family. Your bank will hit the pause button and put your payments on the end of your loan. I am confident our economy will survive, but it may take a while.

 

I applied for other jobs but same reason they don’t want a part timer and for the work I do GFS pays very competitively and the 53’ factory to warehouse day cab home every night truck stuff pays half as much so that’s that for that.

 

I bet you can cut grass for your leaf customers if you aren’t already doing so.

 

My cities clownish garbage contractor decided to jump the shark on yard waste collection.

guess what business I just got into!

 

Did you buy a garbage truck to do yard waste? There is big money in owning garbage companies.

 

I have been slowly tightening the belt of my finances. 50 dollar/month phone plan. Phone itself has a cracked screen but will do until it goes mute on me. Basic cable TV plan. Started paying off smaller credit card bills first. Driving a 2010 paid for F150. At the store buy only the cheapest, usually store brands. No more clothes shopping, one or two pairs of shoes for the season, always the ones on sale. And automatically transfering a set amount into a savings account every Friday. You won't spend it if it's not there anymore. Hoping for the best but preparing for the worst.

 

Sounds like a wise plan to me!