MonkMojo's 1000 Cuts

This article is designed for the newly poor and for people that are about to become one of the newly poor. This article is not about being frugal or personal financial management strategy. This is a “Shit just hit the fan, now what?” guide. The message presented here is brief and simple. It is nonspecific so anybody can apply the ideas to their unique set of circumstances.

Emotional Detachment is Your Friend
Regardless of how foreign the concept of being poor is to you, you need to accept this fact now. It does not matter how or why you lost a main source of income or whether it’s fair or unfair etc… Going from riches to rags happens brutally fast. Many events are about to take place, and your goal is to be in the driver’s seat as much as possible. This is the kind of ride you buckle up for. You need to be mentally present and emotionally checked out.

The sudden transition to being poor is filled with a broad range of overwhelmingly negative emotions.  Certainly a life without emotions would be dull, but during this critical transition they will only lead to dreadful decision making. Although it may be impossible to turn off your negative emotions, you can become better aware of them and the influence they are having on your decision making.

To gain perspective on these awful emotions it helps to view the negative emotion producing part of your brain as the “Wacky-Fuckup Machine”.  Its sole function is to make you do wacky fuckups. Monitor the WFM vigilantly throughout the becoming poor process.  As you make important decisions during the transition to becoming poor, simply ask yourself “Is this decision coming from the WFM?”

Compound Greif
Wacky fuckups are a natural part of life and are normally educational, but in this merciless environment they will quickly compound your grief. Compound grief is amazing like compound interest, but it happens much faster and it sucks.

Recreational alcohol and drug use should kept to a minimum right now (go easy on the prescription pharmaceuticals too). These substances can activate and serve as fuel for the WFM. You just can’t afford a wacky fuckup right now. The best way to cope with the stress and depression of becoming poor is to focus on the next action you need to take in the transition.

Friends, Family and Expectations
The WFM has idealistic expectations for friends and family. Unfortunately the fact is newly poor people are a bummer to be around; they are stressed, depressed and ask for money. Don’t expect friends and family to line up for that. Many people are just terrified they will accidently offer you assistance that they’ll regret later. Again, emotional detachment is important here.


Physical Possession Attachments:
The WFM places an unrealistic value on physical possessions. You need to detach your emotions from your stuff. This will allow the rest of your brain to turn your stuff into the most cash possible. The sooner you sell all of your stuff that does not contribute to your priorities such as food and shelter, the better. Keep in mind, the more desperate you become for cash the less cash you will receive for your stuff.

Your house and car(s) will pose significant challenges. When contemplating when it’s time to walk away from those things, be mindful that the more money you sink into these dead ends the less money you’ll have to do the important things, like eating.

Good Luck
I sincerely hope your Wacky-Fuckup Machine does not compound your grief. Take it from this relatively contented poor person that you can do it too!

Here is some related reading that may help out:

From the Persistent Illusion blog  -  How To Be Homeless

Naomi Dunford - Starting a Home Business? The One Piece of Advice You Can’t Ignore
Be sure to check out Naomi's new SEO School E Book – How to Become an SEO Ninja

Tom Volkar - Make Your Move to the Freedom of Self-Employment