Generally, when there is an emergency, we have alarms in place to let us know: the siren of a fire truck, a fire alarm, etc. We have trained ourselves to know how to respond to these kinds of alarms.
What about financial emergencies?
While we may see the cause of the emergency, the loss of a job, an illness, an unexpected disaster, it is much more difficult for us to understand how these instances may actually play out and the chain of reaction that will be set in motion.
Maybe we have to go into denial to survive and just keep putting one foot in front of the other? Maybe we have to pretend it will all be back to the way it was soon. But that path no longer exists in many circumstances- life has forced us off the beaten path we know, and into the great unknown.
How can you know? How can you see when you are in denial? Is it possible to hear the warning alarms in our heads and train ourselves to respond, the way we did as children during fire drills at school?
I believe we can prepare ourselves. As I work my way through a financial emergency, I can tell you that the one piece of advice, the one saying that has gotten me through is this:
Eat the bunny early.
The bunny story, some of you may remember, was one a former pilot friend of mine told about survival training he had done. They were given a bunny one week prior to training, to care for. They were then instructed to take the bunny with them as they were dropped in the wilderness to survive for a week. Some of the pilots did everything they could to spare the poor bunny's life, only to end up giving in when they were desperate and weak.
The lesson? Eat the bunny early. Identify the situation and realize you will need to keep your wits and strength up to make it through. When you find yourself in an alarming situation, learn to identify, and not deny. Then step into action. Put your emergency plan into play. Keep yourself financially afloat, so you do not find yourself making poor decisions based on waiting to the last minute, and acting out of desperation.
Easier said than done, I agree. As I reflect back over what I did and what I would like to do differently, I hope you will also evaluate your own emergency plans.