A Threat to Financial Independence and a Plan

Hi friends, and welcome back! Here at Pocket Change Lifestyle, we are all about charting our course to financial independence by saving our pocket change! In other words, whatever we can set aside for the future to reach our goals, we do. Our plan is simple, so if you’re new here, check out the Start Here article to get an idea of where we’re going.

If you’ve followed along with us over the last year or so, you know that 2019 has been off the rails for us. From work-related stress to having a baby, to various travel plans changing – calling this year a roller coaster would be tame. Now, we face something that can threaten our financial path altogether… job loss.

Join us as we share our next steps in this plan as we make adjustments for this big life change.

So… what happened!?

Truth be told, I’ve written “what happened” several times, but at the end of the day it’s best I don’t share details because it just doesn’t matter now. It wasn’t mutual, but it definitely was for the best. To avoid bitterness and possible fallout, we’ll leave it at that.

All that matters at this point is that I currently do not have full-time employment, which will require some “fancy financial footwork” to move forward. As we take each step, we want to be wise and careful, being smart with each financial decision. All that to say, walking on the path to Financial Independence has given us plenty of opportunities to be good stewards of our resources and I’m excited for the challenge.

But… what’s the action plan for us as we move forward? Let’s go!

The Attack Plan

Any military leader knows you don’t jump into a battle without an attack plan. Heck, you don’t even jump into a game of Monopoly without some sort of attack plan. Are you going to crush your opponent(s) in one blow with hotels along Park Place and Boardwalk, or slowly beat them over time with the houses along the backside, owning the Orange, Red, Yellow, and Green property groups? I’d name them all but there’s too many.

Whatever your approach to Monopoly, you have one. Considering it’s a board game, the premise is simple to understand – you play to win. To do so, you need a plan, even if you make changes along the way. That’s where we’re at right now, so here’s a few of our next steps (and some accountability on my part) as we begin our attack.

Step 1: Enjoy & Unwind

On September 27th, 2019, the Pocket Change family welcomed Baby Pocket Change, and it has been so fun! Not going to lie, it’s also been challenging, but we’ve enjoyed it nonetheless and we feel so blessed. My intention this week has been to spend time with my family since my former employer didn’t offer any parental time off. I am extremely thankful for this time off, despite the circumstances surrounding it.

Aside from spending time with my family, I have also taken this time to unwind from the stress of my previous job. This was most noticeable the day of the event. In fact, Mrs. Pocket Change was quite perplexed because I was happy, while she was fighting back tears. My response was simple – I’m more happy that I don’t have to deal with those stressful work problems than sad about losing my job. It’s eye-opening how much stress there was once the decision was made for me. That’s when you know it’s time I guess.

Step 1.5: Make Connections

I don’t want to alarm you by giving you the idea I’ve been lounging around singing Kumbaya as we parade around the woods. Sure, Mrs. Pocket Change would love the woods part, and we don’t have a campfire, so the logistics don’t add up.

But, I have been making connections this week during a few in-between nursing/bottle sessions. I’m all too familiar with the job hunt, and I know securing a new job can take some time. Because of this, I don’t want time to get away from me and find myself NOT taking action at all. By making these connections and conversations, I have several job leads and a few others to follow-up on this week and next. We’re so grateful to see the support around us, and we are truly thankful for our family and friends.

I also filed for unemployment this week in an attempt to qualify for benefits to try to bring in some level of income while the job hunt continues. I’m also taking our advice from our Legit Ways to Earn Extra Cash article to start getting cash back into our budget. Check out that post if you need some ideas for extra cash too!

Step 2: Submit Applications

Next week, my time will primarily be spent reviewing job postings, making more connections, and applying for jobs as I find them. I will also be working on follow-ups as they. However, these must be vetted through a filter since we have income requirements, so caution and care must be exercised.

Step 3: Make Adjustments

As with any plan, making adjustments is crucial to success. I may run into a roadblock next week with some unknown issue at this time. I may find myself running around doing interviews or making phone calls. Who knows? In any case, being flexible and adaptable is vital to ongoing progress.

This is all the more important when it comes to bills. As mentioned previously, this year we focused heavily on establishing an emergency fund, as well as a few brokerage accounts. Any combination of these should last us for a few months at least, especially as we cut back to barebones financial decisions.

Thank you

Friends and family, we want to thank you for your support and encouragement through this new (yet familiar) season of life. I know it’s easy to send out texts and messages, but we appreciate you being here for us. Having a new baby is a huge life change. Having a new baby AND losing a job in the same month is crazy.

But – we know that God will work all things out for HIS glory. We trust and believe in His promises, and know that regardless of outcome, it really it part of his plan.

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