What Are the First Steps to Take If I’m Worried About Losing My Job?

Speaker A00:01:20

What if the paycheck you're depending on suddenly stopped? That quiet fear, the one that shows up late at night, the one that whispers, what if I'm next?Friend, if you've been feeling that weight and you don't know what to do next, today I'm going to help you turn that fear into a simple steady plan. Hey, friend. Ralph Estep Jr. Here.Welcome to Financially Confident Christian, where every day I help you break that cycle of financial shame and live with confidence. And today we're going to talk about a topic that some of us have experienced.And it's one of the most dreaded, fearful things that you may ever go through. And that's what you do when you're worried about losing your job. So many of us are defined by what we do.And the thought of losing our job just keeps us up at night. Which leads me to today's question. Listener wrote this. Ralph, I'm worried I might get laid off. And that fear is freezing me in place.I keep thinking I should be doing something to prepare, yet I don't know where to start. Money already feels tight, so building any kind of cushion feels almost impossible. I don't want to stay stuck in fear.So what's a simple plan I can follow to create some breathing room even in this situation? Now, I've never been in a position where I lost a job, but I've worked with so many people over my 30 year career who have been right here.So here's the big idea for today. You don't need a perfect plan. If you're looking for a perfect plan, guess what? I don't have one. But I do have a simple, faithful next step.So let's get right into that. Today, the first thing I'm going to encourage you to do, and this has been a lifesaver for so many people that I've counseled through this.Get clear on your bare minimum number. Bare minimum. Because right now, for so many of you, that uncertainty feels overwhelming because everything feels at risk. Do I lose my home?How do I feed my children? How do I get to work? So we got to start by simplifying this. Ask yourself, what is the bare minimum it takes to run your household?This is a number you've got to know. Now, I'm not talking about your ideal life of the the beautiful things you could be doing.I'm talking about your what it takes to run the bare minimum. Not your normal spending, just the survival essentials, your housing, utilities, groceries, transportation and insurance. Just the bare minimum.Because when you Know that minimum, it does something powerful. It turns that fear. And I get the fear, trust me, I understand it. But it turns that fear into something measurable.And when something's measurable, it's manageable. So start there. Second thing I'm going to encourage you to do is create a short term stability plan.Now, this isn't a place to build some five year strategy. No, I'm talking about 60, 90 day stability plan. Shock, test it.Ask yourself this, if my income changed tomorrow, I'm talking about tomorrow, how would I cover my essentials? This is something I would encourage every single person.Whether you are worried about losing your job or you're not worried about, oh, I've been working for the same company for 30 years. That could never happen. It happens. So ask yourself, if my income changed tomorrow, how would I cover my essentials?I'm going to throw a couple ideas out there. Maybe you pause some subscriptions.One of the big things I think you've got to do is start thinking about reducing your discretionary spending, eating out, travel, probably not going to happen. Identify bills you could temporarily adjust and know what expenses are flexible. But ask yourself that question.If my income changed tomorrow, how would I cover the expenses? Because when you live in this, this isn't living in panic. That's the thing. See the pivot there?There's a big difference between panic and preparedness. This is all about being prepared. Now I'm going to get on my soapbox again, build a micro cushion, even if it's small.And I know your letter today, I know it feels like you can't save anything, but I'm not talking about thousands of dollars right now. So many people get hung up on, well, you know, Ralph, you got to have three to six months of income in your saf.Sounds good, but most people don't get to that. But you can build something small. We're talking about $50, $100, maybe $200. And think about it.From this mindset, I'm not building a full emergency fund today. I'm creating some breathing room because that will help reduce that fear.Because even that small cushion, you can always say, oh, you know, I got $50 over there, I got $100 over there. I talked about it on yesterday's show. My son's got a little bit of money set aside.He doesn't fear that every day now, he doesn't fear that every week because he knows he's got a little margin. Now, while you're living in this reality, maybe you increase some income Maybe some optional income pathways.This is a place where you can take back some control. So many people think there's no control. I can't do anything, Ralph. There's nothing I can do. Yeah, you can't control your employer's decision.You can't control what the big corporation does. Maybe you're working for. But what you can do is begin creating some options for yourself.Ask yourself, what's one way I could bring in extra income if I needed to? Know this ahead of time. Don't be reactionary. Know ahead of time. Maybe it's overtime.Maybe you've got a business right now that, hey, there's plenty of overtime. You're like, I'm really tired. Rap it. Work some overtime. Bank that money. Maybe build some freelance work. Sell a skill that you have.Look for part time opportunities or help someone in your network. You don't have to launch something huge and cumbersome. You just need to prove to yourself that I'm not stuck. You've got some. Go to some plans.Plan A might not work. Well, then you go to plan B or you pivot to plan C. But you're saying to yourself, I don't have to live in fear because I can do this.I got some other ideas. But when you feel yourself in that state of panic, replace that panic with prayer and action. So many of us live in this state of fear.And when you live in that state of fear, it's going to keep trying to take over your thoughts. That's what fear does, it captures all your thoughts. I can think of so many sleepless nights when I look back at why it was I was fearing something.So you need a rhythm. And when fear arises, you respond with prayer. Lord, I don't know what to do here. But man, I know you're going to show me.You're going to give me something to do. And in one small action. This isn't a time to take 10 pieces of action. I'm talking about one thing. Know what your bottom line is.Know your bare minimum. Build some pivots into this system. Because it's one thing to think about it, but that action breaks that paralysis. And that prayer.I truly believe this with all of my heart. That prayer brings peace into the unknown. Because, friend, remember this. You're never walking into uncertainty alone.God has said he will never leave us nor forsake us. He's always there for us. So even when you're feeling this fear, and it's a real fear, I get it. I'm not minimizing it you're not powerless.God is with you. Hey, he might be carrying you right now. And you do have a next step. So here's your next step. Here's your win for today.I really want to encourage everybody in the audience to write down your bare minimum monthly number. Just know what that is. You may never have to use it. Just one number, figure it out. Because that clarity alone will calm more fear than you realize.When I've worked with clients, first thing I did when they had a struggle like this, I said, let's figure out your bare minimum. And you'll be shocked. Oh, wow. It's really that. Oh, I can do that. It's not so bad because I don't have to do this. I can do this. But know what it is.Well, let's get right into the word. We're going to go to the book of Joshua today.I don't think I've ever used Joshua on the program, but we got a great one today From Joshua, chapter 1, verse 9 says this, Joshua 1:9. Have I not commanded you be strong and courageous? Do not be afraid and do not be discouraged. For the Lord your God will be with you wherever you go.Man, that feels like a flex to me. That's God's flex for me. But what's it telling us? Even in uncertain seasons, you're going to have uncertain seasons. God's presence is your constant.He's always with us. And that gives you courage to take the next step. And you can take that next step knowing he's there with you. Let's pray to God right now.Heavenly Father, right now, at this moment, I lift up my friend who's carrying the weight of uncertainty right at this moment. And Lord, you see their fear. You see those questions they can't answer. And, yeah, you see the pressure they feel to hold everything together.So, Lord, right now, at this very moment, I ask you to replace that fear with peace. And give them clarity where they feel overwhelmed. And give them courage to take one simple step today.And in the end, remind us all that our security is not found in a job, but it is found in you. Be our provider. Be our peace. And be our guide in this very moment. And we ask this in Jesus name. Amen. Friend, you may not control the future.Guess what? You're not going to control the future. But you can take faithful steps today.And if you're going through a crisis, if you've got a struggle you want me to help you with, I would love to hear from you. We just redid this site. You can go to financiallyconfidentchristian.com/questionWe'll put a link in the show notes, but again, it's financiallyconfidentchristian.com/question. Tell me what's going on in your life and let me see if I can help you. Well, thank you so much for joining me today. I want to encourage you.You can do this. I have confidence in you. Stay financially savvy. May God bless you. And you have a great day today.