“job loss” Archive

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Dealing with Setbacks…

One of the unavoidable – and sometimes most painful – steps in the journey to become debt free is setbacks.

We had been looking forward to becoming debt free in about 12 months, but our schedule has been delayed due to the bout of unemployment. I could tell you that I’m not disappointed… and I could also tell you I was excited to see my check engine light pop on this morning – but I’d be lying.

Setbacks and adjustment are just a part of the journey.

How are we dealing we ours?

Rather than jump straight into reducing debt, we are going to rally up our depleted savings. Depending on my husband’s actual start date, we should be back up in about 2 months. After we have a stable amount, we’re going to jump right back into the fight against our debt.

The good news? My husband will start working at construction prevailing wage rates in February or March. Prevailing wage rates are higher than he is currently earning and should help us get back on track faster.

Posted by Beks on December 28, 2009 at 10:39 PM in Life Experiences, Saving Money, job loss | 6 Comments »
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Employment!

As expected, my husband was offered his old job back. He will start January 4th.

For the first time in two and a half months, I’m going to sleep very well.

Looks like we can start to chip away at our debt again. Woo Hoo!!

Posted by Beks on December 22, 2009 at 10:13 PM in Debt Updates, job loss | 27 Comments »
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Good Phone Calls…

My husband’s previous employer called today and asked if he could come by the office tomorrow.

Either:

A.) My husband didn’t clean out his desk entirely and they want him to pick up his belongings or…

B.) He may have a job.

Let’s hope for ‘B’ shall we?

Posted by Beks on December 21, 2009 at 10:02 PM in job loss | 5 Comments »
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Sprint vs. Marathon Finances…

When my husband first lost his job and I wrote about further ways to reduce my finances, a few readers gently pointed out that it looked as though I had missed making those cuts on my initial reductions for my debt free journey.

The truth is…

I didn’t.

I have two simple choices when it comes to reducing my debt. I can sprint or I can marathon.

I am currently sprinting. I’m pushing, giving it my all, and taking no breaks. Unemployment is forcing me to take a hard look at every dollar. There is no dinner with friends, no movies at theaters, no new clothes, no dental insurance, no doctor’s appointments, nothing. There is no waste.

Sure I could even go further. I could eat bread and water and be debt free faster. I could sell my car and bike to my bus stop in the dark and be debt free faster. I could stop wearing make-up, shower once weekly, and leave my electricity off and be debt free faster.

But my weariness would grow at the same sprinting pace and I would burn out before my balances ever read zero.

I can’t sprint forever and once my husband is employed again, I plan on slowing my pace to what is was before his layoff. Every once in a while, I think it’s OK to buy a $6 burger during happy hour at a nice restaurant. Once every few months, I like to buy my husband a bag of his favorite coffee.

This is my marathon. Sure, some folks will be faster and others will be slower but I’m running this debt marathon to finish – not to burn out before I see the finish line.

Are you sprinting or marathoning?

Posted by Beks on December 17, 2009 at 5:00 AM in About Me, Confessions, Spending Money, job loss | 15 Comments »
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Whispers of Employment…

The company my husband worked for prior to his layoff received a large construction project contract. This means he could possibly be rehired by February 2010.

I’m still angry about the events surrounding the layoff and would prefer he tell them where they can shove their job offer but there would be hundreds, if not thousands, who would gladly take his spot. On top it that, the position pays prevailing wage – which is nearly twice his normal earnings.

So, here’s to hoping. Here’s to health care, a steady paycheck, and a good night’s sleep.

I’m hoping for the best.

Posted by Beks on December 12, 2009 at 5:00 AM in job loss | 11 Comments »
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Waiting for Unemployment…

We’ve been waiting for a check from unemployment for 4 weeks… and we’re still waiting.

Don’t get me wrong, I understand government paperwork – heck, I process it every day as a government employee! But I think it’s important for everyone to be prepared.

Here’s a head’s up to those who think they may lose their jobs…

save to survive longer than 4 weeks.

Am I alone in this? Anyone else waiting for all of eternity?

We’re still coasting through on savings and odd jobs – and I am grateful we were prepared.

Posted by Beks on November 6, 2009 at 5:00 AM in Good Info, job loss | 10 Comments »
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How long can we hang on…

My husband and I sat down with sharpened pencils and sketched out a plan of action. We would have sketched this out earlier but we just received the unemployment numbers on Friday.

The big question…

How long can we hold on without my husband’s job?

Our initial numbers (without unemployment benefits) put us at 8 weeks. Our reductions to debt paired with our cash in savings and unemployment benefits put us at…

9 months.

Had this happened before we had taken control… had this happened before we made the decision to live below our means and reduce debt… we would have made it through a month, maybe two tops.

But now, we’re looking at 9 safe months. 9 months to find a job before things get hairy. Sure we won’t make progress other than minimums and we certainly won’t eat anything other than Ramen noodles but, we can hold on.

I have four words to say –

Thank. You. Dave. Ramsey.

Posted by Beks on October 25, 2009 at 5:00 AM in Debt Updates, General Debt, General Personal Finance, Home Ownership, Living Frugal, job loss | 30 Comments »
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