What to do when Unemployment will affect members of your Family

During unemployment, it is a period for serious discussion with your spouse. You will not have a clear idea exactly when you will get the next job. It could be next week, next month, or in three months. However, how will you deal with it if after 6 months you haven’t found a job yet? How will you explain it to your family when it gets to a year or possibly longer than that? Sure, you have savings in the bank. Are you willing to exhaust them all without taking measures to include your family in the situation?

Many parents believe that it will be best to contain the situation from their children. They think that children do not have to know the financial condition of the household so they will not worry. However, this is a perfect time for spouses to make their children understand the harsh realities of life. It is best that they know as early as possible before things get worse.

Here are the things you must share with your children:

1. Give them a clear idea at how much you have in the bank. This doesn’t have to be in numerical figures. You can creatively state that by saying how long your money in the bank will support your daily needs while you do not have a job yet. You can say that the money in the bank can support you in 6 months, so your goal is to get a job right away or before the 6th month ends.

2. Discuss ways to cut down on costs. You can talk about ways to minimize the use of appliances around the house, how often you will do the laundry in a week, how frequent you will make trips to the grocery store, or how you can temporarily stop dance or art classes to help save money. You will be surprised at how your children will respond to the situation.

3. Inform your kids how these will possible impact your social status. You need not threat them, but just let them know for example that the other kids may bully them because daddy has recently lost a job or they will need to postpone camping or special classes. This is an opportune time to make them understand that some things in life are not free.