Its not like I have years to prepare or anything, but I am scheduled to be laid off sometime between June and August. What things can I do now to be prepared?
I thought about going back to college, but if I don't get laid off until August, there is no way I can get in for the fall semester.
Been looking at other jobs but most things wouldn't pay more than I would make in unemployment. I keep submitting resumes anyway though.
I would really like to try to stay on my farm full time. I am full with boarding, teaching about as many lessons as I can handle working a full time job too. I'm just scared of not having a real dependable income.
Proud owner of one Lunar acre! (Campanus Crater, The Moon)
Take the unemployment and keep looking for a job. I'd see what you can find. Unemployment buys you a bit of time. Not at full pay, but time to figure things out. I wouldn't go back to school unless you could get a Pell Grant or something like that to pay for all of it. If you have to pay, it's not worth it and it's definitely not worth the debt. Try to stay in your same field of experience, even if that means doing something that's more like temp work (if possible) when looking and when unemployment runs out or you need more money. If you want to try something new, be careful that you don't impact your unemployment benefits and lose them.
Agree with Velvet. Also have several friends who were laid off and found employment with the same company, in somewhat different roles. If your company is large enough apply with them.
Also email or call your work contacts, they often know of openings and can help you move within the same company. Last April I moved to another position and am now able to work from home
"Never do anything that you have to explain twice to the paramedics."
Courtesy my cousin Tim
Network like crazy now. Make sure that other people know you are looking. Many openings are never advertised and word of mouth is a great way to find a job. Keep those resumes pumping into the system.
If staying on the farm and being self-employed is attractive, work out what you would need to earn to make that happen. It may be busy now, but how about in January? Is the economy strong enough in your area to support the kind of boarding, lessons, training, sales activities you could offer.
As someone else mentioned, COBRA is important if you plan to keep your employer's health insurance. It is going to cost 102% of the full premium to maintain. If you have health coverage elsewhere, then not a worry. I would not recommend going without it particularly if you are going to run a barn business.
Finally on the college -- it's not clear what kind of degree you are seeking or where in the education process you are. If community college is an option, take that route as it saves money. I do think taking a college course will help you -- it looks good on a resume to be improving yourself and it gives you yet another venue for networking.
My insurance will be paid for until Sep 2012 by my current employer, that was a huge relief!
I am thinking about becoming a vet tech. Even if I don't go into the veterinarian field I figured it would be helpful to me on the farm.
Last year my farm income ended up being negative after expenses. However, I also live on my farm, basically anything I do to my property can be written off as business expenses. I need a new well, so do the horses (that kind of thing)
I am currently working in the public school system.
Be careful with the writing off on your taxes. You need to keep your business and personal completely expenses separate.
So with your example -- need a new well -- only part of it can be written off since both YOU and the horses need water. The best you could hope is that the portion of a new well would be a capital improvement that reduces your basis upon sale, but that's not going to help until you sell the place. The other thing about tax deductibility is -- you are only "saving" the percentage of the tax bracket you are in. And, you can only take losses against the income you have with some rules on future carryforwards on losses.
In NC you can go to school and get unemployment as long as you can still look for and accept work. When I went tograd school I became ineligible only because I took a student teaching gig on campus. You can also make income= but over a certain point it counts against your benefits. So when you call in, if you made say, $300 that week teaching, up to $x is fine, then the rest is subtracted from your benefits. The good thing is that if you report your income say, once a month you have 3 weeks it does not count against you.
I'd go to like CPCC or something. So sad to see teachers and educators laid off. UGH
Last September 15 people, including me, were told that our jobs were being terminated at the end of the contract year (March 31, 2011). All of us brushed up our resumes and immediately started looking for new jobs.
I was the last one to leave - last Dec 20 I started my new job. Funny thing is they begged me to stay through March, but my new employer needed people ASAP and offered a higher salary.
My point is, there may be something else out there that is better than the job you have now, but you need to start looking immediately.
Depending on the circumstances, you may be eligible for TRA/TAA benefits. Basically, the state pays for you to go to school to become more employable. I was laid off in 2003. Because my employer was considered a down stream supplier to the airline industry, after 9/11 occurred, we were eligible for extended U/C benefits, in addition to the TRA/TAA benefit.
Was already going to school to part-time through my employer's educational assistance program, so I applied for the TRA/TAA benefits and was able to complete my BS degree at not cost to me and I was able to collect unemployment during that time as well. In my case, being laid-off was one of the best things that ever could have happened to me at that time.
In PA, we have the unemployment compensation folks and then there is another organization run through the state called CareerLink. I would recommend finding out if your state has a similar organization and getting in touch with them for assistance. For my particular case, I found them to be an invaluable asset.
Sometimes severance packages can be negotiated, so if/when you do get called in to HR, don't sign anything until you have read everything over. They cannot force you to sign anything right away, but they will probably withhold your severance until you do.
As others have said, but back on all "luxury" things, you will be surprised at how many things you can let go of without missing them.
Save as much money as you can for the next few weeks so that you aren't in a panic situation when you are laid off. You are really fortunate to have the security of having your health insurance benefits paid for a while, so make sure you take care of any medical needs while you still have insurance, just in case.
When you do get laid off, allow yourself a short amount of time to have a "pity party" then get back on your feet and move on. Maybe you will be lucky and have a new job before then anyway.
Being laid off twice, I would start saving $$ right away. Stop buying stuff. Sell whatever you have you think you need to sell that you can do with out. Downsize. Yes, you may find a job, but what if you do not?