My dad recently lost his job, well, got laid off. My family lost insurance and we dont have much money.He does pipe drawings....
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M$2 Answers
http://www.mahalo.com/Frugal_Living
As for getting a new job, I would just advise your dad to start keeping an eye on the job wires and classifieds
Craigslist.com and Monster.com are a couple of the most known job websites.
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M$
Many people wait until a crisis occurrs before changing. Pain often drives change. Change is better than no change.
The basic formula for prosperity: income must exceed or equal expenditures.
Savings are deferred wages.
Your father probably has three sources of income: unemployment insurance, savings, and independant contract work.
Don't use the 401k saving for expenditures. Retirement funds are for the future. Gambling away the future is a bad idea.
Most of the pain occurs in the area of expenditures:
1. Food -> The supplement with a garden, food storage, or welfare. Measure consumption needs.
2. Shelter -> Hopefully your home is paid off. If not, renting may be an option and shedding the expensive mortgage. Refi are a bad idea. Using a loan against the equity of the home will usually result in a default. I think it is better to sell the home and try and capture some equity verses leveraging the hope in hopes that it will delay the inevitable. (You can't spend what you don't have)
3. Medical ->This one is tough. Your parents may need too keep Cobra insurance for health risk purposes. The problem with Cobra is that it increases each month because the assumption that high risk clients have high risk health problems.
Should you go to school, if you lose your job?
1. Many people take out a student loan and cross train into another field.
I think student loans are not wise. So, if you have a secondary skill not requiring cross training then this is a better option.
Getting the next job takes faith. Take time to devote to God and your trials will be easier. Have faith that things will get better. Vision of the future creates action, today. "Man's search for meaning"
Viktor Frankl
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M$
