by Nann

Created on: March 14, 2009   Last Updated: March 26, 2009

Having gone through a recent company lay off, I can honestly say first hand that you will be in shock for a time. Even with the advance news of a possible lay off sent in company memos to employees. It is still a jolt to your personal being when it does happen and you get that proverbial "tap" on the shoulders with a pink slip. Like any stressful situation you will need to cope through the initial separation from coworkers and the everyday routine of working. For some this will be a welcomed event. Possibly an early retirement? It is hard - to say the least, to adjust because of the current economic crisis out there is so far reaching in the job market. This is not going to be a lengthy article of "how to's", I will leave that to the experts. This is just my memories of how NOT to get too kooky trying to survive a lay off. You will find how truly amazing people are in your community. My mother use to tell stories of the Depression and how entire neighborhoods would take care of friends, family and strangers. We are "back in the day", I think. Our economic crisis is not isolated to a particular weather event like Katrina. Nor is it a result of a blatant terrorist attack like September 11, 2001. We will not recover when the rain stops or the ashes are cleaned away. But like those unique national crisis's, we as a nation will rise to meet the need collectively as a people united. In my case it started with just one hand reaching out to take mine and pull me out of the rubble from the lay off to safety. The following is my take on coping because we can not allow ourselves to loose our sense of humor, too.

First, I recommend reassessing your finances in REAL time. This may take intervention, so gather your kitchen chairs in a circle with a big pile of bills in the middle. Breath. Exhale. Restack bills. (repeat)

Second, restrict all unnecessary spending. (repeat first step if necessary)

Third, DO NOT CALL YOUR BANK IN PANIC. You will get no sympathy. You will get notes to your account and put on the "watch" list for higher rates and possible closure of your credit. THIS IS NOT GOOD.

Fourth, seek a financial counselor or read Suze Orman's books. She is our advocate in these times and practices what she preaches.

Fifth, begin to NETWORK, NETWORK, and NETWORK. This can be fellow coworkers, community network classes or churches. Family is critical during this time, so I recommend you mend all and any broken fences because they are your life line. Of course if you don't have any family, reach out to community resources in your area, please do not take this crisis solo - gas prices are not that good.

Sixth, make lists. Start with attainable goals. Making the house payment. Getting your unemployment. Sign up for food stamps and medical assistance if you have a family. We can not deny ourselves the resources that are available now, I stood in line with a man who use to make $$k but put his pride aside to keep food on the table for his family. Remember this chant: "Be real".

Seventh, keep busy with life. Keep connected. You are going to get through this. You are not alone. People care. We are in this together. God is faithful. He is watching over us - reach out.

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