Don’t Build a Financial Safety Net
So, there he was, 66 feet in mid-air standing on a wire rope that was 1/2 an inch thick. The memory of this death defying moment still plagues my thoughts at times.
Edward the circus high wire guy, had just recovered from a circus injury but he was back to give a great show. Things were going smooth then half through the walk Ed got a little shaky. The crowd grew dead silent to the point that an occasional deep gasp or a very airy “oh my gosh” expression was all you heard. About 3/4 of the way through the walk Ed’s right foot slipped and down he went, our hearts sank as we helplessly watched Ed fall from a 66-foot wire. Ed never made a sound until he reached the bottom and suddenly he bounced back up into a series of flips and was joined by two others who were flipping as well. To lead into the next performance without interruption, the circus added a trampoline underneath the high wire incase Ed fell.
Many circuses would simply have a safety net to catch the performer if they fell. A net saves the performers life but it ends the act in a disruptive way but a trampoline allowed for the performer to be saved and a faster transition into the next act almost like it was part of the show.
Our lives can benefit from using this same approach especially in the area of finances. We are constantly told build a safety net, savings to support you if something goes wrong but few people talk about building a trampoline. Building a trampoline would be so much better because if something happens you can bounce right into your next life move. The average person that goes through a life trauma usually spends a year or more just trying to recover from the fall and some never quite make it back. Image if you had a way to recover right into your next move….
Here are some tips to help you bounce back quicker:
Get lighter on your feet – debt is a weight that pulls you down so get rid of all the unnecessary debt so you can bounce back higher
Develop transferable skills so you can reapply them elsewhere if your company decides to downsize its task force
Use your skills to create another source of income outside of your day job: millions and millions of dollars are made through free-lance work every year (HINT if you see a job posting that you can do, email the hiring manager and tell them you have xyz years of experience in that field and you can help them on a contract basis until they find a full-time person)
Develop a skill that allows you to make money outside of your day time work (event planning, social media management most companies have horrible social media management, product drop shipping, YouTube marketing, sewing, babysitting, construction, etc.)
Building a trampoline under you high wire allows you to stay in control of the show so you can keep doing what matters most even if an unexpected downfall happens.