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Preparing for the Layoff

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by , 09-20-2009 at 11:20 AM (2764 Views)
Well, 192 days until my job as I know it is officially gone. That's basically 6 months. I am taking full advantage of the extra long lead time that I have been given. I have assessed our situation and here's what we need to do.

1) Save up as much money as possible between now and then. We have about $6,000 in savings at this time, we're shooting for about $10,000 more.

2) Finish paying off Dh's car like we set out to do in 2009. We are making good progress at this and only have $3,200 left to go! It will be nice not having to make car payments on either car.

3) Pare down expenses as much as possible and try not to buy anything new. This includes reducing our eating out budget and increasing the eating at home budget. This is a tough one for me.

That's all I can think of for now...oh and to make matters worse. Dh's job is basically week to week. Each week he tells me that they are doing layoffs next week and that might be it. He works in Aircraft and it is quite a voliatile area right now. So far, his company and others like it have laid off probably 10,000 employees this year alone. They have not hit the bottom in the depression of the economy. So, more than ever, we need to think about getting by on one salary or perhaps none! Needless to say, Christmas will be pretty slim this year.

I will write often to tell of our progress and expenses that we have. I realize that I am lucky to have been given as much time as we have. Feel free to post suggestions for saving money.

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  1. frugal-fannie's Avatar
    Well at least you have some savings. It sounds like you have made good preparations. There is only so much you can do when things are beyond your control. Good luck.
  2. Debbie-cat's Avatar
    You have a great savings account already and you have a great attitude about the next 6 months. I would be doing exactly as what you are doing. I am sure you will be fine with such a determination. Good luck and looking forward to reading about your progress!
  3. jestagrrrl's Avatar
    Well I will keep you in my thoughts and prayers, there are some talks about the same thing in our company, so hopefully it wont come to that, so i'm silently worrying here, so I guess we can all just stick together and hope for the best!