I’ve got the solo-income panic—my husband got laid off two weeks ago. Totally unexpected.
This is the third time in four years, so at least we know the drill. Even though I’m scared, I’m feeling a bit better about this layoff than the last one, and here’s why.
The Four-Day Panic Cycle
Day 1: Panic.
Last year was my slowest in a long time, at least for the first half (I made up some ground towards the end). The questions spiral immediately: How am I going to support my family plus the family of my regular contractor if I’m not making as much money as I need? What if work dries up? What if I can’t do this?
The panic is real. I let myself feel it for a day.
Day 2: Budget.
Since we’ve done this before, we have a pretty extensive budget that shows what we spend, what we have saved, and what the next few months will look like with severance and unemployment.
Running the numbers does two things: it removes the emotion from the situation and gives me actual data to work with instead of just fear. Sometimes the numbers are scarier than I thought. Sometimes they’re better. Either way, I know what I’m dealing with.
Day 3: Outreach.
Doing something—anything—feels better than sitting and wallowing.
So I write a few blog posts and instantly feel like I’ve done something proactive. This time I also decided to send a quick direct mail postcard and update the verbiage on my website. None of those things will pay off immediately, but I’m taking action, and that keeps the panic at bay.
Marketing won’t solve the problem overnight, but it’s the only thing I can control right now. So I do it.
Day 4+: Take deep breaths and get back to business.
I have work to do, a marketing plan in place, and I’m going to keep doing what I always do. One project at a time. One client at a time. One day at a time.
The Reality Check
Do I like being the sole provider for us? Not at all.
Can I do it? Yes—assuming I keep doing new client outreach and keep following the good business practices I know work.
We’ve run the numbers. We have six months of cushion before I’m the only income, and that gives me breathing room to plan. I save whatever I can thanks to previous layoffs (lesson learned), so if we’re smart and I stay fairly steadily busy, we should be OK for at least a year.
That doesn’t mean I won’t have more panic days. I will. Or that I’m feeling confident I’ve got this. I’m not always.
I’ll alternate between rational and terrified until my husband has a steady income—and our health insurance—again.
But I’ve got enough data and experience that my rational mind knows we’ll be OK. We’ve done this before. We’ll do it again.
What I’ve Learned From Being the Safety Net
Have a cash cushion. I can’t say this enough. Save 25-40% of every check if you can. When times are good, sock it away. When times are bad, you’ll be grateful you did. (See the “Save Money for Taxes and Emergencies” chapter in Good Work! for more on this.)
Run the numbers regularly. Don’t wait for a crisis to know where you stand financially. Update your budget monthly so you’re never caught completely off guard.
Marketing is insurance. When things are good, market anyway. Build relationships, stay visible, keep your pipeline full. You can’t turn on marketing like a faucet when you suddenly need work—it takes time to pay off.
Have a support system. Whether it’s a spouse, parents, friends, or colleagues, know who you can call when you’re spiraling. Sometimes you just need someone to remind you that you’ve been here before and survived.
Remember: You’re not alone. Layoffs happen. Economic uncertainty is real. If your partner loses their job or you’re suddenly the only income, it’s scary—but you’re more resilient than you think.
You’ve Got This (Even When You Don’t Feel Like It)
Being self-employed means you’re already used to uncertainty. Irregular paychecks. Clients who disappear. Projects that get cancelled. You’ve been training for this without even knowing it.
The flexibility and control that come with running your own business aren’t just perks when things are good—they’re lifelines when things get hard. You can hustle harder. You can pivot faster. You can make changes without asking anyone’s permission.
So if you find yourself in the same boat—suddenly solo, terrified, and wondering how you’ll keep it all afloat—take a deep breath. Run the numbers. Do something proactive. Then get back to work.
You’ve weathered storms before, and this one is no different.
Want more guidance on managing the financial ups and downs of self-employment? Good Work! has an entire section on making good money—from saving for emergencies to handling the feast-and-famine cycle to protecting yourself when clients don’t pay.