When it comes to unemployment which has lasted for six months or a more, the situation can be stressful, not just for the job seeker but for their family also,especially children. For attorneys who have been downsized, changes in lifestyle and income can come with their own version of family stress. Below are a few tips on how unemployed attorneys can help their loved ones deal with the situation:
- Attorneys facing long-term unemployment need to discuss honestly with their partner and children how the lack of income will impact their lifestyle. For example, telling a child that you will buy them an expensive vehicle despite your employment status is not exactly in line with the financial reality you’re facing as an jobless attorney.
- When it comes to changes in spending habits due to unemployment, drastic changes could cause conflict in the short term, while on the other hand spending as if you are still working can cause even greater conflicts in the future. The best solution is to create a timeline of adjustments that will help your family manage the changes in their financial condition. For example, an unemployed attorney might decide in advance that after six months of not finding work, they will reduce discretionary spending by fifty percent and after a year of unemployment, they will sell some major assets to make ends meet. Whatever the changes are, make sure they are discussed as a family before they take place.
- Try to resolve conflicts with a level head and don’t make any major decisions while you’re unemployed. Money is an emotional issue. Some studies have found that over fifty percent of divorces are caused by money issues. With that in mind, work hard to keep the peace in your home while unemployed.
- Listen to the concerns of your children and be empathetic when they express their worries about seemingly trivial things. While a child’s dismay over not having enough money to travel abroad for a year may seem trivial compared to not having enough money for the mortgage, to a child it is a big deal.