Facing a furlough? Six ways to prepare.

Many Americans are starting to feel the pinch of reduced federal spending.Government and even nongovernment workers face furloughs or even layoffs as the budget purse strings tighten. Here are six ways to get ready for a furlough or unexpected layoff:

6. Keep your cool

Reza A. Marvashti/The Free Lance-Star/AP/File
Sergio Gonzalez loads a rusty bike on to the junk pile being hauled to the dump in August in Spotsylvania, Va. Ebenezer United Methodist Church has been holding furlough Fridays for members of the congregation who've been furloughed because of sequestration. With the day starting at 8 a.m. with a fresh made breakfast, the group has a devotional period then heads out for community service projects to benefit members of the community.

Don’t let your emotions get the best of you. Keep a level head and don’t buy on impulse. Try moonlighting or picking up a few odd jobs to keep yourself busy. (Do you have a skill you can post on guru.com or elance.com?). Or volunteer at the church or community center – busy hands will keep your mind occupied and giving to others who are perhaps in greater need will keep things in perspective. Visit a retirement center or shut-ins. Volunteer for Meals on Wheels. Create a home repair list and tackle all those pesky things that you haven’t had time for.

Chances are, you’ll be back to your regular schedule before you know it.  But now is the time for self-reflection, personal discipline, and a steady hand.

– Wayne von Borstel is president of von Borstel & Associates, a financial planning services firm with offices in The Dalles and Portland, Ore. He is also author of “The Truth Project: Finding the Courage to Ignore Wall Street.”   

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