This
article is designed for the newly poor and for people that are about to
become one of the newly poor. This article is not about being frugal or
personal financial management strategy. This is a “Shit just hit the
fan, now what?” guide. The message presented here is brief and simple.
It is nonspecific so anybody can apply the ideas to their unique set of
circumstances.
Emotional
Detachment is Your Friend
Regardless
of how foreign the concept of being poor is to you, you need to accept
this fact now. It does not matter how or why you lost a main source of
income or whether it’s fair or unfair etc… Going from riches to rags
happens brutally fast. Many events are about to take place, and your
goal is to be in the driver’s seat as much as possible. This is the
kind of ride you buckle up for. You need to be mentally present and
emotionally checked out.

The
sudden transition to being poor is filled with a broad range of
overwhelmingly negative emotions. Certainly a life without
emotions would be dull, but during this critical transition they will
only lead to dreadful decision making. Although it may be impossible to
turn off your negative emotions, you can become better aware of them
and the influence they are having on your decision making.
To gain perspective on these awful emotions it helps to view the
negative emotion producing part of your brain as the
“Wacky-Fuckup Machine”.
Its sole function is to make you do wacky fuckups. Monitor the
WFM
vigilantly throughout the becoming poor process. As you make
important decisions during the transition to becoming poor, simply ask
yourself “Is this decision coming from the WFM?”
Compound Greif
Wacky
fuckups are a natural part of life and are normally educational, but in
this merciless environment they will quickly compound your grief.
Compound grief is amazing like compound interest, but it happens much
faster and it sucks.
Recreational alcohol and drug use should
kept to a minimum right now (go easy on the prescription
pharmaceuticals too). These substances can activate and serve as fuel
for the WFM. You just can’t afford a wacky fuckup right now. The best
way to cope with the stress and depression of becoming poor is to focus
on the next action you need to take in the transition.
Friends, Family and
Expectations
The
WFM has idealistic expectations for friends and family. Unfortunately
the fact is newly poor people are a bummer to be around; they are
stressed, depressed and ask for money. Don’t expect friends and family
to line up for that. Many people are just terrified they will
accidently offer you assistance that they’ll regret later. Again,
emotional detachment is important here.
Physical Possession
Attachments:
The
WFM places an unrealistic value on physical possessions. You need to
detach your emotions from your stuff. This will allow the rest of your
brain to turn your stuff into the most cash possible. The sooner you
sell all of your stuff that does not contribute to your priorities such
as food and shelter, the better. Keep in mind, the more desperate you
become for cash the less cash you will receive for your stuff.
Your
house and car(s) will pose significant challenges. When contemplating
when it’s time to walk away from those things, be mindful that the more
money you sink into these dead ends the less money you’ll have to do
the important things, like eating.
Good Luck
I
sincerely hope your Wacky-Fuckup Machine does not compound your grief.
Take it from this relatively contented poor person that you can do it
too!
Here is some related
reading that may help out:
From the
Persistent Illusion blog -
How
To Be Homeless

Naomi Dunford -
Starting
a Home Business? The One Piece of Advice You Can’t Ignore
Be sure to check out Naomi's new
SEO School E Book –
How to Become an SEO Ninja

Tom Volkar -
Make
Your Move to the Freedom of Self-Employment