How to prepare for a possible layoff?

**danimarie0820** · 09-14-2009, 07:21 PM

Well everyone, thank you so much for the advice. I started a part time job the second week of August and every paycheck has been placed in my savings account! I also will have a job as a nanny to supplement the part time job just in case. I have also stocked up on groceries. I can get an extra defferment on my student loan as long as I do it by the 14th of November. It finally came out in a meeting last week that things aren't going well. We find out this week for sure what will happen as far as layoffs go.

**peanut** · 09-15-2009, 12:59 PM

Sounds like you're on the ball! Hopefully things will work out for you.

**nodmicks** · 09-15-2009, 01:13 PM

Originally Posted by danimarie0820

Well everyone, thank you so much for the advice. I started a part time job the second week of August and every paycheck has been placed in my savings account! I also will have a job as a nanny to supplement the part time job just in case. I have also stocked up on groceries. I can get an extra defferment on my student loan as long as I do it by the 14th of November. It finally came out in a meeting last week that things aren't going well. We find out this week for sure what will happen as far as layoffs go.

Way to be pro-active!!!

**mauimagic** · 09-15-2009, 10:48 PM

Mahalo for bringing this thread up again. It was good to read it through - just to reinforce planning, etc. Good luck and take care. You will make it through!!

**my4littlebuffaloes** · 09-19-2009, 01:04 PM

I would save every penny I could, stop all spending unless absolutely essential. If everything ends up fine, then you can spend again on things that were more of a want than a need. Also, be proactive in looking for a job. Keep your eyes and ears out for any openings. Network as much as possible. Good luck!

**Trishagirl** · 09-19-2009, 02:00 PM

My dh got his lay off notice last week and Friday was his last day. We were preparing for this by saving money and putting it in the bank. Being very frugal as to our spending. We'll have to see what he get on unemployment and go from there. At least I'm still working 3 days a week!

**mauimagic** · 09-19-2009, 09:31 PM

Our governor and union just came to an agreement to fulough teachers for 17 days each school year for the next two years. Combining that with the increase in our percentage of health insurance makes it about a 10% decrease in pay.

Sure beats unemployment - however we will still need to make adjustments. Glad I started with FV in March - has helped a lot and will help even more now. Mahalo for all that you have shared.