Tag Archives: second income

Being Prepared for the Aftershocks

Yesterday, on Independence Day, Southern California experienced a 6.4 magnitude earthquake. The USGS describes an Intensity 6 as being “Strong.” The epicenter of the quake was in Ridgecrest, CA, a small city described as a “desert town.” Fortunately, as of this writing there’s been no reported deaths, and the destructive damage was relatively low. Several people attribute that to the strengthening of the building codes in California, understanding that living there means being prepared for when, not if there will be another earthquake.

One of the things I also heard many emergency personnel and members of the media refer to was a reminder to everyone about the importance of having their “earthquake preparedness packs,” since there is an expectation of potential strong aftershocks. The contents of the earthquake packs aren’t that different from a general survival kit ready for any emergency — tornadoes, hurricanes, city-wide power outage, or even an economic downturn. It’s better to be adequately prepared for any kind of emergency, even if you never end up having one, than to not have anything, and then experience an emergency and not have the basic means to survive.

That reminder got me thinking about a post I’d made several years ago talking about the theme of Catching Raindrops in Water Buckets, and why everyone should have personal water buckets.

black-and-white-hand-person

Your water buckets are those things you use to catch the “rain” of blessings that you’ll need to sustain you, not for today, but be at the ready in the future. While you can’t know every possible scenario that could happen in your life, you can have a plan to prepare yourself for how to deal with most circumstances as they come.

Maybe it’s learning how to turn your hobby into an income stream for your family, or starting a second business for your retirement. Perhaps as a single adult, you take in a roommate so that you can put the extra funds away. Water buckets are basically ways to save money and resources today so that you have them to use later when you might unexpectedly need them.

If you’ve been through a divorce, and suddenly found yourself dealing with the shock of returning to just one income — perhaps your spouse carried you on their insurance, and now you’re having to pay for your own, along with the mortgage, and that new car that at the time seemed like a good idea — then you understand the concept of having the benefit of having something in those buckets.

Maybe you’re single, just lost your job, and now there’s no second income to fall back on; no one else to help pay those bills or provide for the health benefits that you just lost. 

Perhaps you still have your job, but with the cost of everything increasing, you’re just barely making enough to cover your monthly expenses. But then the brakes go out on your car — out of warranty, of course.

If any of these scenarios sound familiar in your life or someone you know, then you understand that life is full of surprises and unplanned stops in the middle of places you never imagined yourself ending up. And while we can’t control some of the circumstances that may happen to us, we can control how well prepared we are to take on those events when they happen.

Being prepared for life’s unexpected turns means being willing to create a plan now, so that you are where you need to be, have what you need to have, or are on your way to accomplishing steps to help you when a crisis enters your life.

So when it’s raining outside, the grass looks green, the flowers are colorful, and all the trees are thick with foliage, don’t worry about your neighbors or friends looking at you strangely because you’ve placed your water buckets outside the house to fill them up. Maybe they haven’t checked the forecast to know that there’s a drought coming. Be thankful that you’re going to be ready when it hits.

How Are You Using Your Water Buckets?

You’ve heard us talk about “water buckets.” It’s even in the name of the website. But have you ever wondered what we’re talking about when we refer to them? Do you know what your water buckets are and how are you using them?

Your water buckets are those things you use to catch the “rain” of blessings that you’ll need to sustain you, not today, and maybe not even tomorrow, but at some point in the future.  Preparation is one of the keys to success. While you can’t know every possible bad scenario that could happen in your life, you can have a plan to better prepare yourself for how to deal with those circumstances as they come.

Everyone should keep water buckets around. Maybe it’s maintaining your own savings account after you get married; or learning how to turn your hobby into an income stream for your family. Perhaps as a single adult, you decide to take in a roommate so that you put the extra funds away for that emergency. Or as a family you purchase a house with the purpose of turning part of it into income property to help you pay your mortgage off early. Water buckets are ways to save money and resources today so that you have them to use later when you unexpectedly need it.

If you’ve been through a divorce, and suddenly found yourself dealing with the shock of returning to just one income; or your spouse carried you on their insurance, and now you’re having to pay for your own, along with the mortgage, and that new car that at the time seemed like a good idea — then you understand the concept of having the advantage of having something in those buckets to help with your transition.

Maybe you’re single, just lost your job, and now there’s no second income to fall back on; no one else to help pay those bills or provide some of the health benefits that you just lost. Or you and your spouse figured you’d “get around” to getting life insurance when you got older, only now they’re gone and you’ve had to use all of your savings to pay funeral costs.

Perhaps you still have your job, but with the cost of everything increasing, you’re just barely making enough to cover your monthly expenses, with no room for anything else. But then the brakes go out in your car, and there’s no coworker or bus line within 10 miles of where you live, offering no alternative but to some how get the car fixed.

If any of these scenarios sound familiar in your life or with someone you know, then you understand that life is full of unexpected surprises and unplanned stops in the middle of places you never imagined. And while we can’t control some of the circumstances that may happen to us, we can control how well we’re prepared to take on those events when they happen.

Being prepared for life’s unexpected turns means being willing to create and then implement a plan now, so that you are where you need to be, have what you need to have, or are on your way to accomplishing steps to help you if or when a crisis hits.

So when it’s raining outside, the grass is looking green, the flowers are colorful and all the trees are thick with foliage, don’t worry about your neighbors or friends looking at you strangely because you’ve placed your water buckets around the house to fill up. Maybe they haven’t checked the forecast to know that there’s a drought coming. Be thankful that you’re going to be ready for it.