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Well most important is to have good cable tv , you'll have a lot of time to watch, and if you had any problems before navigating your tv,dvd,cable box-worry not you will quickly become an expert.
Don't answer the phone for any reason, unless it's your immediate relatives,(like your mom or dad that you want to speak to). It's a 99.9% chance that it's a bill collector, your initial reaction is that it's a job offer, you'll quickly learn...
This is just so wrong. You can't be serious. When you are unemployed, you have a job. That job is called 'Finding a job' and will consume 8-10 hours a day. A job will not come knocking on your door while you are lying on the couch watching TV. Cable TV is not an essential service and would be high on the list of things that can be done without. Subscribe to Netflix and watch a movie a couple of nights a week for entertainment. Will save a ton of money. The Internet is IMHO is an essential service. If you don't answer the phone, you will miss the opportunity to respond to an interview request.
If you have over 10k cc debt, just file for bankruptcy. So much easier. Especially if you have no assets that can be seized it is a no brainer.
Ah, I knew someone would come up with this. This shouldn't be anyone's first resort; it should be a last resort. It's irresponsible and selfish and does nothing but unjustly spread this debt burden around to those of us who didn't incur it. There are situations where bankruptcy is appropriate, but it shouldn't be a "no brainer" just because you wont' be worth going after.
What do you do if you loose your job and you don't have enough money to pay your bills? What do people do.
I work retail and my husband is in the airline business. Right now we make just enough to pay all our bills and debt and have a little bit left over for food but what if one of us loses our job? What do we do then? Live on the street? File bankruptcy?
Does anyone here have an experience you would like to share?
Sounds like you are on very thin ice even if you both remain employed. Break a tooth and need a crown, a major car repair, or loose even a few weeks pay due to injury or any other reason and it sounds like you are underwater.
Clearly today increasing income is going to be difficult to impossible, so you need to take a long look at where the money is going, and then figure out what you absolutely need and the rest become wants. How much are you paying for cable, phone, cell phone, and do without or opt for cheaper packages.
How much do you spend on bottled water, Starbucks coffee, prepared food, etc.? Tap water, coffee maker at home, cooking dinner instead of 'nuking' it can save a lot of money over time.
If you are unfortunate and one of you does loose their job, you will learn very quickly the things that can 'go'. Avoid the rush, do it now, and then you can build some savings that you may need to fall back on.
1. Adjust your budget down till you can save at least 10% of your current income. Money in the bank is a good stress antidote. At the end of my last contract (itenerent nuclear worker) stint, I had *4 years* worth of current expenses in the bank. That was a special circumstance, I had a really high-paying but zero security job, was single, was renting literally an upscale shack in a tobacco field. Many colleagues were living in trendy high-cost apartments. The end of the gig was considerably more stressful to them.
If you guys are renting, think about something downscale but still safe. Can things like cable TV, other unnecessary expenses. Keep your old cell phones, avoid "upgrades", think about services like Consumers Cellular that don't require a contract.
2. Talk with your current boss about the situation, what can you do to be more valuable, how can you avoid the axe?
3. Based on what you hear on #2, go ahead and start looking for another job, something more secure, maybe in a less depressed area, maybe a less depressed industry.
4. If you do get axed, cut all unnessesary expenses, file for any benefits you can get, and get on the stick to get re-employed. A much "smaller" job *could* be worth taking, for example working at a Starbucks so you get health insurance - at the same time don't let a small job soak up so much time it keeps you from looking for something "full scale".
5. Finally, strategically, one wage earner in airlines and one in retail is not ideal. These are both areas that go down fast in a recession, I guess I don't have to point this out to you. Over time it would make sense for one of you to migrate to something less volatile. I don't know what exactly, don't know what else either of you are interested in or can do. But I have always thought that it's better to have at least one income fairly "armor plated" - something like medicine or law enforcement that people are not willing to do without even in down times.
Most of us could live on a lot less than we do. I had a landlord when we first married that suggested to me that we should only buy necessities. We have been promised that our needs will be met, but we have not been promised that we will get all our wants.
Most of us could live on a lot less than we do. I had a landlord when we first married that suggested to me that we should only buy necessities. We have been promised that our needs will be met, but we have not been promised that we will get all our wants.
Exactly, learn the difference between 'needs' and 'wants', then act on that information.
Thanks all of you for you answers. This is my problem. We used to be spending happy. We used to make more money but the last year things caught up with us. first a for us large income cut ( 20 000 ) a year due to job change and unemployment. We already used the resources we had like savings and 401 Ks. I am doing my hardest to save money every month and live on a tight budget. We do have cable which is 40 bucks a month but thats the only entertainment we have.. We NEVER eat out, not even fast food. We never go any were on our days off. We are a family of 3 and spend around 100 bucks every 2 weeks on food for all of us. I am not seeing anyone of us loosing our jobs but the thought scares me. The light in the end of the tunnel is that our largest expenses will be paid off i 2 years. That's close to a 1000 dollars a month. Our expenses is ONLY credit card debts, car loan and a bank loan. Stupid stupid us and I swear I will NEVER do it again. What the hell were we thinking.
We live in this 550 dollar a month apartment older then earth itself. I am sick of it.
I am very good about always paying our bills in time and never get late charges but I am so sick of giving away all my money every month.
Thanks again all of you for your inputs
All a person has to do is drive past any large apt complex and see all the late model to new vehicles in the carports. People have money for late model car payments but cannot afford to save towards a down payment on a house. Wheres the logic?
Had a married son that lived in an apt for 12 yrs...bought all kinds of what I refer to as being junk...then wondered why he could not afford a home. He mentioned to a younger brother that it would be nice if dad gave a helping hand towards a house. Youngest son said that I would help if there was a better effort to help himself.
I did help him towards a down payment so things can be done if applied correctly. Steve
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