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Old 01-19-2013, 09:34 AM   #1
SnowWhite607
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We know a layoff is coming in a few months...how to prepare now?

My husband is a PE teacher and a high school football and softball coach. Well there was a hiring shuffle and hubby got left out in the cold on his football job. Now what that means for us is a reduction in pay and the loss of the summer bonus check. He has already checked with some friends and he thinks he can get hired on at a smaller school for less money though (jr high as opposed to high school). So best case scenario we are looking at about a $2000 reduction in coaching pay plus the almost $3000 summer bonus check. Worst case, about $5000 reduction in salary plus the $3000 bonus.

If we know a layoff is coming (he will continue to get paid the same amount as we get now thru the end of July) what are some things I can do to prepare now to fit in this new pay into an already pretty tight budget? I work also so me getting a job is not an answer (since I already have one).

Any ideas on how I can get a jump on this and make it a pretty painless transition. In a few more years it wont be so bad cause our car will be paid off, child support will be over and my child will be out of her braces. But until then.........any ideas for me?

Thank you!!!
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Old 01-19-2013, 09:36 AM   #2
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To clarify......those figures were annual salary we would be losing, not monthly LOL! The bonus also comes once a year in August.
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Old 01-19-2013, 09:58 AM   #3
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Since you know it is coming, I would find areas in your buget where you can start cutting back now such as cable tv, cell phone plans, entertainment spending. Could he teach something in summer school to bring in extra income?
Are any of your kids old enough to get a summer job to help pay for their own expenses?

My DD17 got her first job last summer, and this school year has enough saved to pay for her own clothing, minor school expenses, and junk food and "toys"
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Old 01-19-2013, 10:33 AM   #4
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Nope, one child who is 12. Not old enough for a job. I consider myself pretty frugal already, I use coupons and combine errands to save money, etc. I just wonder if I should start stocking up on food or things like that. I have no idea but while I have the money coming in, I would like to prepare as much as possible.
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Old 01-19-2013, 10:59 AM   #5
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This is something someone on the budget board posted a few years ago that I've never really followed up on - I saved the link in case I ever needed to earn some pin money or just got that nostalgic for teaching. (Actually, I'm about there some days!)

These are the people that give the SATs, I think, and also do a lot of testing - they use remote scorers. If I can think of anything else, I'll let you know.

http://www.pearsonassessments.com/pa...ut/careers.htm
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Old 01-19-2013, 11:01 AM   #6
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Could your husband set up some kind of "football camp" for local younger kids for a week during the summer? Or give private lessons to kids who want to beef up their football skills? Both of those could be pretty good sources of income. --Katie
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Old 01-19-2013, 11:05 AM   #7
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Ahah, also got this off the budget board, years and years ago.

http://workathomemoms.about.com/od/e.../K-12-Jobs.htm

These are some links to various supplemental teacher jobs.
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Old 01-19-2013, 11:16 AM   #8
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I am in the teaching profession and am off for two months every year-no pay.
Take a look at the Pantry and write a 1 month stock up list
--now multiply that by three and get busy stocking up now.
I have a summer time saving account that each month I stock pile money into.

Best wishes
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Old 01-19-2013, 11:23 AM   #9
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Maybe he could look for another Teaching and coaching job. I don't know how many Districts are close to you, but maybe there is a better place for him. Coaching is a tough job.

Kae
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Old 01-19-2013, 11:26 AM   #10
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What part of Louisiana are you in? I can think of a few things, but they're geographically oriented. There are Angel boxes, where you pay XYZ and get a box of predetermined food - it's not a charity, it's a frugalty - but not every community has them, so you'd have to look online and see if it's done in your area. In some of the cities, there are summer daycamp jobs for teachers - EBR Parks and Recreation apparently hires a bunch of teachers for that purpose.

Oh, most of the schools have summer tutoring for the kids who didn't pass their EOY or LEAP tests - I've got family members who do that every summer and make a nice chunk of change.

Or will your DH still have work this summer, just not next?

Do you shop the thrifts and Garage Sales for clothes and such? That can be a huge money saver, even if you live out in the country. I have friends who live out in nowhere who go into the bigger "bedroom" communities to garage sale on pre-selected weekends and save a LOT of money by doing so. (If you live anywhere near Fort Polk, that is the place to go on the one weekend of the month they have garage sales.)
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Old 01-19-2013, 11:32 AM   #11
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I would figure out what my monthly reduction was going to be and start saving for that now. A $2000 cut annually less deductions might actually be doable if you make a few cuts now and start squirreling money away a little at a time. Cancel the NFL package from cable now...shop for a cheaper phone and internet plan. I found last year that I could easily reduce our monthly by $140-easily-and painfully get another $50 off the monthly expenses. I had a yard sale and made $700 by opening boxes I hadn't opened since our move and getting rid of a few pieces of extra furniture-so glad I did, it was getting cluttered. Your 12yo could babysit or be a mother's helper for their own expense money. Look over your grocery receipts. I always find something on there I splurged on-stop splurging until he finds a way to make up the difference. Do you eat out once a week? Cut out one dining out a month, you'll hardly notice. I'm not normally a fan of store brand items but I tried several and found that about half were really good and saved me money weekly. I've been trying to focus on the reuse of the three R's instead of recycle. I buy bulk cheese now and grate it myself-big savings! I cut back my Christmas spending by $10 per person-saved over a 100 dollars in December.
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Old 01-19-2013, 11:34 AM   #12
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We were in a similar situation in '04.

I did not stockpile food, clothes or anything like that. I did however, hold onto all my money... spending as little as possible.

Now in my world, we have a pretty full pantry/freezer all the time anyways. I wasn't in fear of starving. What I was in fear of was a car breaking down or other unexpected bills. You can't pay the mechanic in frozen pork chops! So if I honest to goodness didn't need it, I didn't buy it.

Since you will have some income coming in... #1 priority is to rework your budget. Total the money you will have coming in and compare it to the "fixed" expenses. Adjust the variable expenses (like food) accordingly. In my world, I am willing to be pretty ruthless when it comes to internet, phone, entertainment, etc... I love these things, but in tough times, yes I will cancel/cut out everything not necessary. I know that isn't for everyone though.

Live on that reduced budget NOW and stockpile the excess money until the layoff.

Anyway, good luck... been there and made it out the other end...
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Old 01-19-2013, 11:43 AM   #13
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The obvious answer is for your DH to get a temporary job over the summer.

Yes, I know that's easier said than done

But have him look into things like summer day camps, etc. I know some like to hire teachers as the counselors. Places like the YMCA might be a good fit for a P.E. teacher since those camps tend to be more activity focused - my daughter has gone to one there for years, and has had several counselors that had Master's Degrees in teaching.
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Old 01-19-2013, 11:54 AM   #14
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Quote:
Originally Posted by MomToOne View Post
The obvious answer is for your DH to get a temporary job over the summer.

Yes, I know that's easier said than done

But have him look into things like summer day camps, etc. I know some like to hire teachers as the counselors. Places like the YMCA might be a good fit for a P.E. teacher since those camps tend to be more activity focused - my daughter has gone to one there for years, and has had several counselors that had Master's Degrees in teaching.
Hosting a Day Camp (i.e. Day Care for middle school age kids) might be an idea. There aren't a lot of options for supervision for middle school age parents and that is the age at which a lot of them get into trouble left to their own. A "Boys Camp" for kids that age run out of your home or a community center might be something your area needs. He could probably even do it in cooperation with other teachers.
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Old 01-19-2013, 11:57 AM   #15
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So you are looking at a pay reduction of $8,000 a year so that that would be about $667 less a month. Can you switch any of your providers? Phone, cable etc. We just did that and are saving $70 a month on our phone and internet. Maybe eliminate home phone all together and only have a cell phone. Can you do without cable until you can supplement? I guess it is hard to say b/c every family has different needs. Those are things I would cut out first. Next I would cut from our food budget. Another thing is how do you have your pay check taxed? Can you change that withholding less as long as you won't owe. If that wouldn't be enough I would cut the kids activities or at least some of that.
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