I talked to my mom this morning and found out that my brother will be unemployed in three weeks. He's a partner is a small law firm and while there's a contract in place, he won't be receiving much/if any compensation. He's lived high on the hog in many years past, but this working for himself has brought in not nearly enough money in the past. I feel sorry for him that he is a poor planner. Of course my father won't let him lose his house (nor would my father let me lose my house if I were in a similar situation), but I'm worried about how much stress this will cause him. As small as my EF is, it is at least in existence and could cover bare bones living expenses for four months. And I have plans, versions A and B, for different scenarios. I'm hoping that he's able to land on his feet soon and I'm going to look through my coupons to see about helping him build a small stockpile of convenience foods (spaghettio's and cereal).
Hopefully the lesson taken away from this situation is "It is best to put something away for a rainy day." You never know when it will rain!
Fear for the poor planners
January 25th, 2012 at 02:53 pm
January 25th, 2012 at 04:57 pm 1327510663
January 25th, 2012 at 05:05 pm 1327511151
I think of Shakespeare with the rainy day fund:" For the rain it raineth every day."
Best wishes to him and his family
January 25th, 2012 at 07:05 pm 1327518350
Amen, Debbie! "Good stewards of our blessing" was a recurrent theme of the 7 Steps to Financial Freedom seminar DH and I attended at our church. It helped to move towards the giving from the first fruits of the harvest, rather than the dreges. I see a whole lot of lack of fiscal responsibility by the two singles closest to me (my brother and best friend). Both seem to live in the present and indulge their whims. I've been guilty of being a hoarder of money for fear that if I needed it, it wouldn't be enough. I've found that having a plan and being prudent has brought me reasonable piece of mind, and when I feel that I'm being irresponsible, I can reign in the spending.
Thankfully it is only him, no family that he needs to be support. I can only hope to pass on some groceries to him and maybe an odd $10 Target gift card or two. B
January 25th, 2012 at 07:32 pm 1327519938
We are always willing to provide food and shelter, though frankly I will be rolling my eyes if it comes to that, with some of them. But, I don't want my loved ones in the street, either. So might have to set my eye rolling aside, and help. But I know enough not to give one cent to any of these people.
January 26th, 2012 at 06:18 pm 1327601932