How to Deal with Financial Problems – Powerful Story on How I Overcome 2 Years in a Metro City as Jobless!
I have also written articles with step by step guidelines on how to create an emergency fund.
When I started this blog in the year 2007, it was then investinternals. com, I was new in the company and was struggling everyday to learn my job functions as well as leading a team.
During my free time, my passion towards blog writing lead me to start a blog on personal finance and started writing articles related to personal finance and investing topics.
One of the famous articles I have written at that time was on the importance of having or creating an emergency fund.
Not Only Just Advice, But Do it Yourself First…
Not only providing ideas through writing something in my blog, but I was really following what I was written for the readers.
Through my article, on the importance of emergency fund, I have informed readers about the requirement of having an emergency fund and the amount should be equal to the six months salary or more.
I have also informed that the fund must be in a separate account or secure mutual fund as untouchable by considering its particular cause.
However, I have decided to create my own emergency fund by considering the factors like my age, professional qualification, job market status etc. Also, calculated my regular monthly expenses including possible future increases in those expenses.
I have then worked hard to achieve that goal and finally preserved an amount equal to my 12 months expenses along with considering possible inflation related issues!
Thus I have finally confirmed that I can survive in the city for next 12 months once if I lose my job or decide to leave the organization.
How Had I Accumulated Money for Emergency Fund?
“Common question”.
Even though, I have written on my article about the ways to create emergency fund and various methods available for the same. I have subscribed a few best performing liquid mutual funds to park the money as emergency fund.
Regular contribution to these funds through Monthly Systematic Investment Plan helped me to create a decent emergency fund.
Finally, the Great Day Approached to Give Me a Label Named ‘Unemployed’!
In the year 2017, after 10 years of long job with the organization, I submitted my resignation from service. There were personal reasons that forced me to take that hard decision.
When I stepped out from the company by the end of October 2017, I had nothing big in my hand. I only had some money that I have saved earlier with my bank account and was sufficient only for 2 months to survive.
However, I was a bit comfortable because last two months pay cheques and my gratuity amounts were yet to receive from the company.
I expected the 2 months pay cheques and the gratuity amount would come within that time and during the time I could survive with the saved money in the bank account.
Calculation, the perfect calculation and financial planning started from that point.
6 Months Later
Tried my best to get a job through utilizing all available sources, but even after six months of my unemployment, having all required professional qualifications and experiences, I have not got any job.
Realized that it is my bad time in life that not only to me, but everyone has to face. That reality fueled me with courage to face the situation boldly. Finally the 6th month also over.
I proudly stood in the middle of the unemployed community in our city and was trying hard to get a job. However, my every effort and hope had its own end in itself by one or other reasons.
During these months, I was survived with the final settlement received from the company.
I realized that the remaining amount is sufficient only for next 4 months and in the 10th month, I was going to completely drained by not having any liquid money or source in my hand.
Good Friends Always Do Good
In the end of 9th month, I rang three of my best friends and discussed them about my current situation, even though they were already aware about. I informed them to set an amount aside to transfer to me whenever I ask. They promised me to ring them whenever I need money and they will transfer to my account immediately.
Actually, I do not have a habit of borrowing money from anyone including my wife, but it was just a secondary option I had set myself in case of an emergency occurred. So cool!
Calculations were still going on. Instead of planning for next month, my planning was for next 6 months.
Whatever it is, I was sleeping peacefully every day and night. I have not realized any kind of tension or worries during those times.
I have not reduced or cut any of my regular expenses and everything was happening as it was like when I had a job.
“Yes, my heart was so strong and confident with a belief that I never fail or I will never allow anything to defeat me”.
I was searching and searching for a job and each time I fail, I just forget the past and was searching for another opportunity because, I decided to search until I get a job.
Interesting Facts During Unemployment Time
I am not slipping out from the subject, but just thought to share with you some of the funny scenes and moments happened in my unemployment time.
As a person socially well exposed in our area and community, whenever I meet people, they would immediately ask “whether I got a job or not”?
Some of them were more worried about “how I survive in this expensive city without a job or income”. Advises, advises and advices from everywhere because it is free!
Other group of people were so kind by showing their helping hand to me by asking my resume and later informed me that “they had emailed the resume to few of their friends” and that’s it. That’s the end. Anyway, they got an inner satisfaction that they had tried to help me during my bad time.
Never mind!
Actually, I was enjoying all those jokes and was waiting to see to what extend all these dramas would go. “No complaints, but only smiles”
This was a great lesson in my life that, in our trouble time, nobody will be there, but in our good time, everybody will be around us.
Activities During Unemployment Time
Starting with a regular morning walk of 7 to 8 kilometers with friends followed by reaching home to sit free, search jobs and watch TV.
During that period, I started a beautiful habit, drinking. I was happy to have 4 pegs of drinks in the afternoon as well as evening.
However, interestingly I had a benefit from that. It charged my thoughts and one fine day I started to write a story, an adventure fiction, similar to Jungle Book (Who knows whether I am going to be the next Rudyard Kipling?).
Interestingly the first series of the novel was completed with 26 long episodes and the copyright process is under way. I have utilized all my free time constructively by shaping my novel by shrinking it to 8 beautiful episodes. This will make it as a fantastic read for children and people from any age group.
How Was My Unemployed Time?
It was absolutely good. No worries, because of advanced and well planning, having enough money in hand to survive for next few months.
“After that”?
“Why should I think about that and worry in advance on something is going to happen after 4 months?” That was my thought process.
So I was not worried at any time because no one knows about the accumulated treasure, my emergency fund, is still in my hand as untouched even after I completed my 9th month.
Anniversary of Unemployment
In the year of 2018 October 30th evening I brought a cake to celebrate the anniversary of my unemployment.
In that evening I had two more extra pegs and celebrated my unemployment anniversary with family members by cutting the cake.
I called all my good friends and conveyed my sincere thanks for their moral support during the difficult time as well as their kindness.
That was a peaceful night for me.
Finally the Trouble Approached – The 14th Month!
Yes, I never forget the 14th month of my unemployment!
I had totally drained and had money in hand to survive only that month. From the 15th month, my pocket was an empty balloon.
So, in the middle of the month I decided to touch my emergency fund for the first time.
I reached the mutual fund office and made an inquiry about the fund value. I really surprised that the fund value has grown to a great level and sufficient for next 16 months!
Anyway, I had redeemed a part of emergency fund to my bank account and that was sufficient for next 12 months.
“Sunshine again came”. No worries now.
Emergency fund came to me as a guardian angel and I realized the real advantage and power of having such fund in hand.
If I had not having such, I along with family, would have now been supposed to sit in my home at a remote village and struggling for money. Or I might have turned as a huge debtor to my friends.
The 26th Month of Unemployment
It is now crossing 2 years and 2 months after I became unemployed! Still trying to get a job, but no positive signs found. I was never desperate, but was trying with full confidence.
Money transferred from the emergency fund already dried and I now have money to survive only that month.
At the end of December, 2019, I got a call from my friend, asked me to attend an interview. I went to their office by preparing well and attended the interview. At the end of interview, they asked “when can I join with them”.
I really got surprised because there were a gap of more than 2 years and 2 months in my career!
Finally, in the year of 2020 January 23rd I joined the company by giving a great salute to my beautiful unemployment time as well as a great thanks to my emergency fund!
Trouble Not Yet Finished – See What I Had Done
In the end of December, the final penny of the transferred amount from the emergency fund got finished and I drained again.
Yes still there is sufficient fund in my emergency fund, but I thought to not touch the same because now I have a job in hand. Surviving the January and February month would resolve all the issues.
To do so, I rang one of my friends and sent my bank account details to him and asked to transfer the amount. Within a few minutes I got a message that the money reached in my account.
I called him again and said a thanks and promised that the money will be transferred back at the end of February 2020.
His answer was awesome! He told me to not be hurry. Be in your foot first then think about returning the money. He added, he is not going to ask the money, but just considering that, the money put in an FD, that is with me!
“That is the altitude of trust and meaning of friendship!”
Locking the Borrowed Money
At the end of February, I got my first pay check from the new company.
My first action was to immediately secure the borrowed money by adding it to a Fixed Deposit. This will help me to give back the same to my friend and whenever required.
“This practice is known as locking of fund and keeping aside as untouchable for a particular use or requirement, like an emergency fund”
Further Activities
I had analysed the past unemployment duration in my life and re-winded what all happened during that time.
“It was really a lesson! A learned experience!”
I planned to bring my financial status back to normal as it was before when I had left my previous job.
I started a monthly SIP to add money back to the emergency fund to bring it intact as it was earlier before I redeemed.
Also, completely stopped my habit of drinking as I do not have time to go with that.
Whenever getting free time, like corona virus lock down, I am with my novel by proof reading and rectifying mistakes and adding more charming scenes.
Thought to bring up my blog to share useful information to prospective and needy readers, like you. It is really a difficult task, bringing an old blog back to normal as it may take a month or more with hard efforts.
I changed the blog name to www.thecorporateinvestor.net. I am also in touch with a publisher and a translator to publish my novel as well as translate to other languages. No time and so busy!
Do I Really Curse the 2 years Unproductive Unemployment Time?
No! Never! I had lots of experience during that time. I was enjoying each moment like a vacation. I considered the time was a gift to my life to relax after years of busy work.
Moreover that, I am highly thankful to the 2 years and 2 months of unemployment time. Because it helped me to realize a wonderful hidden skill of mine, “the prominent writing skill“, which people rarely have!
Even after I read my novel, I myself wondered by thinking “whether this has been written by me or not”!
Remember, the time I have identified the writing skills, I immediately start utilizing it to the maximum and the result was a 26 episode long beautiful adventure fiction for children and people of any age.
The book is expected to arrive in the market by the end of this year.
I am really thrilled because the day my book arrives to the market, I am going to get a prominent identity, “Writer” and especially in the space of Children’s novel.
What Message Have You Learned from This Case Study?
First, the requirement of having a sufficient emergency fund in hand. You have now seen how my emergency fund helped me during my trouble time.
Second, never get upset with a panic situation and be positive always. To do so, you must have the required arsenals in your store such as emergency fund, financial planning etc. and always try hard for your goal,
Third, do not depend or expect anything from anybody in your bad time. It will always make you desperate and unhappy.
Fourth, never give your ears to what others are talking or thinking about you in your bad time. Its none of our business!
Fifth, never bother about future. If do so, the result will be sleepless nights!
Sixth, and most importantly, best friends are precious assets. Have such friends!To do so, you must prove yourself that, you are trustworthy, honest and dependable for them.
Now you have realized that how negative situations can be turned to positive through proper planning and action.
Stay safe and have a happy life. I am sure my experience will give you motivation on how to think and act during difficult times in your life!