The 99s Pilot Careers Resource Center

Mayday! Strategies for Furloughees

Updated May 16, 2002

 

Coping Strategies

Financial Tips

 

Coping Strategies:

• Give yourself a break! This didn't happen because of anything you did or didn't do.
  
  
• Deal with your feelings. As with any loss, you may experience the stages of grief, including shock and disbelief, fear and anxiety, anger and blame, and then acceptance and exploration of new possibilities. Also, you might feel betrayal, confusion, and self-pity. This is all normal.
  
  
• Express your feelings with trusted friends, in a journal, in a support group. Also consider private counseling. Check the phone book for community services that might be low cost or free.
  
  
• Think positively, use motivational books and tapes, and associate with positive, supportive people. Relieve stress with exercise, meditation, deep breathing and healthy living.
  
  
• Plan a daily routine of job hunting. Get involved in volunteer activities you haven't had time for.
  
  
• Consider this an opportunity to reassess and revitalize your life.
  
  
• Create a budget, then cut expenses and lower your expectations. Look at needs rather than wants.
  
  
• Ask your supervisor or supervising co-workers (i.e. captains or instructors you flew with) for letters of recommendation or to serve as references. Maintain a connection and let them know how your job search is progressing or who they might be hearing from.
  
  
• NETWORK, NETWORK, NETWORK!!!

Financial Tips (excerpted from USA Today, October 5, 2001)

• Take advantage of any outplacement services that might be offered by your employer. They may not help you get a job, but they will help you polish your resume and interviewing techniques.
  
  
• File for unemployment insurance right away, so that benefits won't be delayed. Bring documentation, including pay stubs or other evidence of how much you earned, and a dismissal notice or furlough letter.
  
  
• Change your spouse's tax withholding. Reduce the amount of tax withheld, since your tax liability will probably be less and because you can use the cash right now.
  
  
• Consider reducing your spouse's 401(k) contribution temporarily to free up more cash.
  
  
• Make sure you have health insurance. Sign up under your spouse's, or sign up for COBRA to extend your company's health insurance benefits for up to 18 months (you pay premiums).
  
  
• Prioritize your bills. Pay your mortgage and utilities first.
  
  
• Manage debt. Pay minimum balances on credit cards temporarily, or negotiate a payment plan with them. They might reduce the amount of minimum payments or waive interest until you find work. A credit counselor might help - contact National Foundation for Credit Counseling at 800-388-2227 or www.nfcc.org.
  
  
• Review insurance policies. Contact the insurer if you're having trouble paying premiums. Some might offer a 30-day grace period. Avoid canceling life insurance, as it is costly and troublesome to obtain again.
  
  
• Look for sources of short-term cash. You can borrow from your own 401(k) if you're still working. Consider borrowing from spouse's 401(k).
  
  
• Avoid taking money out of 401(k) or IRA (cashing in). Tax and penalties are high. Sell stocks judiciously if it will be at a loss - perhaps only half in a given fund.
  

To learn about our other career resources available to women pilots, including Networking, Scholarships, Community, Jobs!, and More, go to: