With uncertainty, it’s a time to save and give

If the pink slip passed you by at work this time around, you’re probably still letting out a huge sigh of relief combined with a bit of guilt over your co-workers’ misfortune. You’re also probably smart enough to know you might not be so lucky the next time around. It doesn’t matter how great an employee you are these days, if you’re company is cutting back you could be looking for a new job.

How much time do you think you have? Three months? Six months? A year? Maybe you won’t be laid off at all. Still, this is a good time for all of us to take inventory of our household budgets and get our finances in order once and for all.

As a recent Herald news article pointed out, we’re fortunate to live in an area where there are so many services available and people ready to help us out.

But there is plenty that people can do to help themselves, too. Start by learning which benefits and services employers offer laid off workers, said Bill Borders, community services labor liaison for the United Way. Borders offers wise advice when he says people should start gathering such information immediately.

"Once you leave the door, you’re really at a disadvantage."

He’s right. While we shouldn’t panic about the future, we should be prepared. Knowing what is available to us is the first step.

This is also a good time to take a hard look at our budgets. Where is that money really going each month? Are we paying down our credit cards as much as we can? Tucking away enough in our 401(k) plans? Check out your local bank or credit union for more information on financial preparedness. It’s amazing the resources that are available to us that we don’t even think of. But they’re there. We need to start taking advantage of these opportunities before we find ourselves in tough times. People who plan ahead aren’t being paranoid, they’re being prudent.

Finally, one of the most important things to remember is that this in not a good time to hoard money. We still need to be consumers to keep our economy going — we just need to be smarter, more creative consumers. And we need to make room in our budgets for giving to others in need. If our community’s past generosity is any indication, Snohomish County will make it through this rough time.

If you haven’t made your New Year’s resolution list yet, put financial preparedness at the top and get a head start.

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