- Personal Finance»
A Paycheck That Depends On the Economy
When the paycheck stops what happens next depends on you.
I suggest few would argue that receiving a steady check in the mail or deposited into their bank account creates a sense of security.
Since the mammoth Recession of 2008 there are many who have had their idea of “ security “ shaken quite severely. It happened either as personal experience or indirectly by awareness of a co-worker, friend, or family member whose paycheck came to an abrubt and sudden stop! This feeling of uncertainy is quite understandable in light of the enormous economic meltdown that occurred throughout the country.
The International Monetary Funds chief economist declared “ long-term unemployment is alarmingly high in the US and that half of all those out of work have been so for over six months, something we have not seen since the Great Depression.”
There has been a domino affect of core industries and their supporting secondary markets tumbling to historic lows in production, sales and employment. Many people whose peace, confidence and happiness were contingent upon their paycheck have been forced into a certain reconciliation of their core life values.
When our self-worth is based solely on the “security” of your job it presents a disturbing dilemma. As the pay check comes arrives as usually then all is well. However, when it stops as many have learned they are thrust into a time of deep soul searching and evaluation of all that is considered sound and resolute in our lives.
In all of mans history the response to catastrophe and crisis has always been that of fight or flight. In other words when the paycheck stops will you use it as a launching pad to soar again or a crater to descend and stay surrendered.
One thing is certain; your reaction will in large part be based on a couple of key factors.
A positive attitude is absolutely essential if the response is going to be “ fight “. The consistent perspective that the situation is temporary and not life defining will activate belief that a solution or victory will surely arrive.
Our personal experience such as how we were raised and whom we consistently associate with in terms of their positive and empowering values will generally have a positive and beneficial influence on our choice of action.
However, if a background is laden with negative images and limiting self beliefs we will tend to react in a way that reinforces doubt, fear and hopelessness in relation to the circumstances of losing a job and the steady income it provided.
Undoubtedly, inadvertent benefits can be realized by being laid off or fired.
For example, a work-absorbed parent whose relentless focus on climbing the corporate ladder. The sudden interruption may result in family relationships that can now be revived.
Children of a newly more available mom or dad could well benefit from the situation. Circumstances may manifest themselves as unexpected blessings in disguise. Depending on the age of the children a parent's short term unemployment may actually avert other major trouble in the home.
For example, in some cases behavorial problems or even worse may be averted when the effect of a loving parent attention and life shaping guidance is expressed to a fast growing adolescent or perplexed peer pressured teenager.
When the paycheck stops one of the first things that demands attention is what are my options at this here. It’s like being punched in the stomach will you just bend over indefinitely or stand up and launches an effective counter attack. If your response is the later, then consider the following:
Going Back to School
Our economy has completely changed during the past decade and there are two skill sets that have emerged as critical and necessary. The first is the ability to organize, process and leverage information. The second is capacity to interact and communicate inter-personally at
both the organizational and group / individual level.
In regards to information, the proliferation of Internet, mobile and new communication technologies will demand a higher and more refined knowledge of computer, math and science skills. Simultaneously, there will be an ever-increasing demand for those who are able to connect, interact, lead and build consensus with other people.
For those who understand these fundamental ideas there are enormous opportunities ahead as they act in response the new changing workplace and economic landscape. This will be done by returning to school or otherwise educating themselves in preparation to be a point of supply in the equation of the coming certain demand.
In the end, the choice of action one takes when the paycheck stops will depend on some of these considerations and many others. We’ll continue looking at other positive options in future hubs.
StayPos and stay tuned :-)
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