How would you deal with a drop income or being out of work?

[lukemg]

Had a few doses of this - longest 5 months. Really starts to dig in after 2 months or so, hard to enjoy the time out if not by choice, days do tend to run away from you as you get up late, have one thing to do and still seem to struggle to fit it in !
You do start to question yourself, wonder if something will turn up.
BUT - you have to stay ready to react when a call comes in, it can happen very quickly and I am always switched on for the next interview - current run is 7 interviews, 7 offers, it's getting the interviews that holds me back !!
I don't value myself based on what I earned last month even if I judged myself against peers it would be over a timescale of years. Warchest and investments can cover years if needed, I just need to keep busy to top it up and I find it hard to appreciate the time off if I don't have work as a contrast.
Clearly institutionalised as worker drone....

[BlasterBates]

Yup one of the best times was on the bench, 4 months during that sweltering 2004 Summer. Get up at 9 or 10 go on the balcony and flick through the latest Jobserve, send off interesting jobs and then cycle to the outdoor pool for the afternoon. There was the odd interview which kind of gave me a trip or two, always a relief to get the refusal. Yeah you need a war chest...and a "life" though otherwise it could get a bit dull.

[scooterscot]

Like a few have touched on, confidence and experience shall protect you against the gloom. The more experienced you become at what you do a certain belief builds up that makes you understand what makes you stand out from the crowd. These days walking into an office full of permies my jaw drops wondering how half the office is still in employment. Then I travelled to Germany and realised bullsheeting would not work here and realised I really would have to earn my way.

It is a time to focus on what you want to achieve with your business and not go overboard pinging CV's off in every direction.

To answer your question, I deal with it by making sure it's a position that never occurs. I do this by have more than one egg in the basket.

[MaryPoppins]

Mind you I've a big warchest and don't really need to work.

[MarillionFan]

Is it me, or are permies getting younger and more stupid?

[MaryPoppins]

Is it me, or are permies getting younger and more stupid?

You've gone perm now?

[Fred Bloggs]

A range of 95-105%?

She has credit cards.

[VectraMan]

I had effectively 11 months through 09-10, where I just settled into working on the Plan B, as there didn't seem a lot of option. But the Plan B did bring in some money, just not contracting levels. Then I had a short term gig, which turned into 6 months part time gig, so really I've had 18 months of much lower than expected income. But for all that time I was able to pay myself a salary, and the occasional dividend when I was working, just not quite enough and I've ended up paying for a few things on credit cards as a result. But I survived the recession, and contracting was always about being able to find the time to do what I wanted to do. I've certainly spent enough time being bored out my mind on contracts.

[SueEllen]

It does trouble me somewhat about how I'll deal with retirement.

Do what the retired friends I know do - continue working and state that you are working part-time but actually when you have work you are full-time, or basically run a voluntary organisation.

Once you are really sick then you just sit in doing nothing with the cats.

[scooterscot]

and more stupid?

Agree with the stupid. The number some of them are on too, I tell you I was shocked and stunned. I know not all companies are the same, some taking their responsibilities quite seriously then they are departments I walk into and think how is it possible this lot are turning a profit?

Certainly with the years passing I'm noticing companies out there setting themselves up for a royal kick in derrière