You’re Doing It Wrong If You Believe In Job Security

There Is No Such Thing As Job Security; However, There Is Financial Preparedness

Please don’t make the mistake of someone who secures their dream career and believes they’ve found the ticket to wealth and job security.

No, no, my friends, it doesn’t happen that way. Never has and never will.

One morning, you’re lacing up your dress shoes and putting on your tie, and the next, you’re updating your resume.

It happens, and it happens often.

Remember the time you thought you didn’t have enough dresses to wear to the office, but now you have a closet full, still with tags on them, but no job to go to.

It’s a whirlwind of emotions when the announcement of layoffs replaces job security.

New House, New Career, New Resume

Just after we got married, Mrs. CBB landed her dream job, or at least a job that offered her a private office, benefits, and flexible hours.

It was the perfect job, close to home, and offered excellent pay for a starting position.

She was the happiest woman alive because she was motivated to be the best she could be.

After the transition to her new career, we bought a house together.

This was an exciting time for us, marked by a new job, a new house, and dreams of a happy future.

Things don’t work that way, though.

Job Security Crushed

Within months of signing our mortgage papers, Mrs. CBB got an email stating that the company was closing down and everyone would be laid off.

She had to read the email several times because it wasn’t sinking in.

What? “I just got this job, no,” was what Mrs. CBB thought to herself.

After a meeting with her immediate supervisor, she found the whole situation to be surreal, as did the rest of the company.

When Mrs. CBB received the call offering her the position, she remembers thinking that she had won the career lottery.

This was the place where she intended to retire and do everything possible to keep the company aligned with her job description.

Shattered doesn’t begin to describe how she felt, not only because she had to deliver the bad news, but also because we had just bought a house.

Thankfully, we were financially prepared for this situation.

Unfortunately, not everyone is, as they believe they have job security because a business has been around for many years, or they have a government job.

Related: Strategies to survive unemployment, job loss, and disability

Don’t crumble that resume just yet; you might need it.

There is no such thing as job security. Keep reminding yourself, as one fan who wrote to me about her experience with job loss did.

She no longer believes in job security and offers tips on how to prepare her skills and financial bank better.

The Hardest Part Is The Faith You Put Into A Company

Hi Mr.CBB and Fans,

I am from the States, Maine is the one.

When I was 30 years old, married, with a dual income and no kids, I was at Health-Tex, a children’s clothing plant where I worked, when it closed.

I had a job I loved, working piecework, making as much money as I do now on good weeks!

All three plants in Maine closed on what we referred to as Black Thursday, January 29, 1987.

I was working 2nd shift with a small group of employees in my department.

Only two departments operated at night: the cutting room and the embroidery department.

At the time, I was working in embroidery, although I had worked in the cutting room on nights and stitching on the first shift.

Getting The Call

One day, I received a phone call at home from my supervisor, who told me not to come in that day because the plant was closing.

I remember her asking me, “Do you understand what I said?” to which I replied, “I don’t have to come in today?”

Her answer was “Yes, the plant is closing.”  I think I understood at that time that it meant forever. Then, I asked her, “Do you mean forever?”

“Yes, forever,” which are two words I will never forget.

I was the first to be informed of the plant closing and was stunned by the news, as anyone would be when they learn they have lost their job.

Soon, I began receiving calls from most of my friends to verify that the information was accurate, because I didn’t think they believed it either.

I don’t remember if I called my husband or waited until he got home from work to tell him about us losing one of our income sources.

It’s not something you can pick up the phone and blurt out about.

Take Presented Opportunities

I took advantage of the job search classes offered by my company, but I didn’t take advantage of any other classes.

Since the company was deemed to be closing due to imports, all employees were offered training classes in whatever field they chose.

Now, I regret not taking advantage of the free training courses that are now available.

I should have considered nursing or a career in machine trades, which would have provided me with opportunities and sought-after skills.

With unemployment and severance pay (I had worked there for just shy of 10 years), along with my husband, who worked in a local mill and earned a good income, we had no financial problems.

We owned our cars, and our house payment was low.

My family lived nearby and planned to take advantage of unemployment benefits through the summer.

I spent the winter visiting friends and taking walks.

Doors Will Open When One Closes

In April, I applied to L.L. Bean and was hired to do work in their stitching room.

The second day there, I was stitching specialty luggage, and I’m currently still employed at L.L. Bean.

I worked in manufacturing for two years, then transitioned to custodial work, and now I am a phone customer service representative.

Job Security Doesn’t Exist

Emotionally, I no longer believe in job security.

I still find myself looking at jobs, saying, ‘If I need to, I can work there, or I can do that, or I have those skills.’

On that day, there was widespread disbelief, as we all knew the Gardiner, Maine, plant was losing money, while the Portland, Maine, plant was holding its own.

As a successful plant, we never dreamed it would close.

My advice to anyone going through a similar experience is to take advantage of available training.

If you’re offered free education to upgrade your skills, consider it an investment in yourself.

Another tip is to stay busy and not let job loss and concerns about job security dominate your life.

It’s scary to lose a job; however, budgeting for emergencies helps ease financial worry in the event something should happen.

Financial Breathing Room

A girl I know was telling me about a house she and her husband had just bought.

She said, “It’s going to be tight, but we think we will be okay. I just love it so much”.

Unfortunately, it’s remarkable how people often fail to realize what could happen.

It’s crucial not to overspend your budget and to track expenses closely.

I have a rental property that I use to pay taxes with, and then I undertake larger projects for myself, which I pay for in cash.

My tenant, a logger, could be hurt and have to move back home at any time.

As part of an excellent tenant, he isn’t there 2 or 3 nights a week, which he spends with his family up north.

So he isn’t using appliances, filling the septic tank, etc.

I often think I could have the truck or SUV I want if I just used that rent to pay for it!

But that’s not happening.

Tips for Job Security Dreamers

When one door closes, another will open, even if it’s not the job you really wanted.

Then again, even if you did land it, that doesn’t mean it will last forever.

Don’t give up on dreaming or searching for a job that will bring you happiness.

Just don’t believe that you will be in the role until you retire.

Always be financially prepared, and you’ll be able to get back up without having to climb so high.

• Prepare and follow a budget
• Invest in retirement savings
• Stop creating debt
• Pay off debt as fast as you can
• Save cash for what you need
• Don’t buy a house more than you can afford
• Upgrade skills anytime you can, even if you must diversify
• Remember that job security doesn’t exist
• Look after yourself first

Discussion Question: Have you ever landed a job that gave you a sense of job security only to lose it? Were you financially prepared? What advice would you offer to someone reading this who wants to prepare for the worst, even though the present is fulfilling?

A Week In My Life

This week started great as I was getting bits done around the house, and ended with cold meds, whiskey, beer, and bed.

I’ve been sick most of the week and have slept as much as I could, hoping that this summer’s mystery flu would go away.

I’m not too bad right now, but I’m struggling to get to bed, which is expected, although I’m still taking medication to rid it for good.

We made a quick dash up to the park to get the little guy out of the house this week, which was also lovely for us, as we haven’t had much time to chill while we’ve been at home.

The plan for today is to attend garage sales for the first time in a long time.

It all depends on our little guy, though, so fingers crossed he doesn’t wake up in a not-so-happy mood.

Nothing a Tim Horton’s chocolate chip muffin won’t solve.

We’re taking time to sit in a Tim Horton’s today as a family to enjoy our coffee.

Other than that, I have a huge secret to share with everyone! Keep your eyes peeled!

Have a great week,

Mr.CBB

CBB Published Posts

If you would like to share a story via a Fan Question, please ensure that it is a minimum of 500 words and includes lots of details – we love details!

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Making A Difference

Welcome to the 2017 Making A Difference series! Join the networking movement of Personal Finance Bloggers around the world.

If you are a personal finance blogger and would like your blog to be featured, drop me an email. I’m currently booking  August/September 2017-Limited spots.

Money Q&A

Hello Mr. CBB and Readers,

My name is Hank Coleman, and I’m the writer behind the personal finance blog, Money Q&A.

By day, I’m a lowly US government employee in Virginia, and at night, I’m chained away at the keyboard writing about my love for all things personal finance and investing.

I started Money Q&A in the fall of 2010 to answer readers’ burning questions about investing, retirement, and other financial topics, hence the “Q&A” part of the site’s name.

Discussing money, even with your spouse, creating a plan to achieve your goals, or knowing where to turn for financial advice can seem intimidating to most people.

Many people would rather go to the dentist for a root canal than think about or discuss their retirement planning or life insurance needs.

Others bury their heads in the sand, hoping that things will improve magically.

There’s a lot of bad advice out there, and many people don’t know the right questions to ask or where to begin.

I hope to make a difference in readers’ lives by answering their financial questions as straightforwardly as possible, providing them with great tips and advice.

Your financial situation can be daunting at times, but as G.I. Joe says, knowing is half the battle.

Having a basic understanding of money, investing, retirement, insurance, and related topics can go a long way in alleviating your concerns and helping you get started in the right direction with your financial goals and dreams.

Thank you for reading, and thank you so much to Mr. CBB for featuring me!

Best Wishes,

Hank

Fan Brag of the Week

Enter to WIN by emailing me your Brag Of the Week Photo and Description of your deal!

Hey everyone,

I’m really enjoying going to garage sales this summer. We picked up this new, in-package queen-size quilt with two matching shams for $ 8. I also got a pair of ladies’ winter boots for $1. – Pat

CBB Words of Wisdom

The morale of this quote is to look after yourself and forget about what everyone else is doing or saying.

In the end, it’s just you and your accomplishments and the people they affect.

Top Recipe Pick

Who’s coming over for tea?

Cinnamon Rolls are delicious, but what if you switched them up and tried these Red Star Yeast Carrot Cake Cinnamon Rolls instead? I know, I’d love to as well with a nice cup of tea.

DIY Weekly– Recipe For Cracked Heels

The Stay Positive Be Healthy blog features a miracle cure recipe for dry, cracked heels that might be just what you’ve been looking for.

My mother-in-law has suffered with this for years now, so I passed this on to her.

Has anyone tried it before?

I thought she might as well give it a try since it uses Listerine, a product I know she stocks at home.

Search Term Giggles

Always begin and end your day with a SMILE!- Mr.CBB

Every week, I receive tens of thousands of visitors to Canadian Budget Binder because they conducted an online search and found my blog.

Most times funny, sometimes serious.

• A photo of a shopping cart with $60 worth of groceries- As if anyone is going to know if it’s about $60, haha!
• Does LCBO follow consumer law with the wrong price code? Haha, no, but nice try; it’s not a law. Read more here.
• Cauliflower stuffed– I wasn’t sure if this was for a stuffed cauliflower recipe or someone trying to make cauliflower stuffing. Both are doable, though.
• How to ask a stranger for money?– Hi stranger, you wouldn’t happen to have any money I could have? Or use a sign… no talking needed!
• Where do high-net-worth people put their money?– Under a rock

That’s all the fun for this week. Thank you for dropping by. We look forward to seeing you all again next Saturday.

Mr.CBB

Don’t forget to follow me on Social Media and subscribe to the blog.

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