Panic setting in!

[dakcp2001]

I can't even think straight! My DF just told me that he is no longer employed as of April 30, which means we will have no one working! I graduate from Nursing school in May, and then I need to pass the boards (July) and then find a job asap. But what to do to get to then? How long can you go without paying your mortgage before they forclose? We will be ok for a few months with savings. What do I need to do to prepare for this? I am so concerned! The big things I need to pay first, right? House, insurance, food. Cars are paid in full....... I think we need to put the house up for sale, we have been talking about it for a while. I am shaking!!! Ugh. I need to take a deep breath....

 

[threecrazykids]

Take deep breaths. It really WILL all be ok. Times are tough right now and you need to decide for yourself what is important. I would DEFINITELY put the house on the market if you feel you will struggle to make your payments. Move into something you KNOW you can easily afford on your savings until you get back on your feet. I would say rent/mortgage, health insurance, food are the first priorities (in my opinion...others may disagree on the insurance). Sending prayers your way that everything works out. Ya never know, maybe the closing of one door will open up an even bigger and better opportunity for you!

 

[MomRN]

Will he receive unemployment benefits?

I just graduated from nursing school last May. Depending on your area, nursing jobs for new grads are scarce. Start looking now. Start studying for NCLEX yesterday, so you don't have to take it again. Get a resume together. Start networking.

As far as what to suggest with selling and moving, I don't know your finances/savings situation.

 

[mistysue]

You will figure out a way to get through this. I promise.

As a very basic thing, make sure you only buy necessities when you can coupon them and get them on sale, and make sure you are using your utilities as efficiently as you can. Check your thermostat settings, avoid turning lights on, read a book instead of watching TV. Little things, but they can make a difference.

Nobody can really answer the foreclosure thing because there are a lot of variables. There are people who are out in a couple months, and people who stopped paying 3 years ago and somehow haven't been kicked out yet.
Either way if you think it will help list your house. Arrange your furniture to make the rooms look appealing.

 

[crusoe2]

OP, my DH has been laid off a couple times so I know that feeling of panic. Before you make a decision regarding selling the home you're in, be sure there will be somewhere less expensive for you to move to. If you give up the home you're currently in and then can't find anything cheaper or get turned down on a rental cause neither of you have jobs, you may be worse off. You might be better off to talk to your banker - just explain the situation and see what your options are. I know nurses are in very short supply in our area. If it's the same where you live I'd say you are almost guaranteed a job. The bank may be willing to work with you until then. Banks would usually much rather do that than have to foreclose on a house, especially in the current economy.

As for insurance, I'm one of those who would avoid cancelling any insurance policies - lack of insurance could be even more devastating to your finances than being out of work. So I would keep basic policies if at possible.

Regarding other expenses, you may have to make some difficult choices and sacrifices. It isn't fun but most of us could manage without cable, I'net, and cellphones if we had to. Most public libraries offer I'net service for free so you would still have that option for online job hunting, school assignments and research, and keeping a check on your email. You'll have to decide what you can live without to stretch those savings out as long as possible. Look around at home and think through your daily routine - most of us have some small luxuries we could cut back on or live without for awhile. And definitely look up some of the other threads on the budget board regarding tightening the belt - there are some really good suggestions and all those little things add up.

Good luck. Hope you both find great jobs SOON.

 

[sarah4770]

Try going to an agency and getting a job as a home health aide or nurse's aid until you pass your boards. Even if you are still in school, there is bound to be weekend work available.

 

[Fire14]

Try going to an agency and getting a job as a home health aide or nurse's aid until you pass your boards. Even if you are still in school, there is bound to be weekend work available.

I know my place is ALWAYS short on weekends for some reason. WE'd love an Aide to work weekends only and if you want more hours I'm sure I could call u in a few times a week, never fails I have a call off and try to call so day shift nurse doesn't have to deal with it along with the 9000 other things I can't do at 3a.

 

[Kay1]

I don't blame you for panicking but maybe the first thing is for your DF to look for work right now, as in tomorrow. I also thing the idea of your taking some weekend shifts is a great one, and the idea of cutting expenses to the bone right away should work for you.

Sorry.

 

[SunnieRN]

I would hope that your DF will be doing all he can to help also!! If he will get unemployment that may help! Unfortunately, at this time the housing market in many areas is not good and it may be a bad time to try and sell your house.

I would consider leasing your house (say for a year) and that way you will still have your house when you are in a better shape to afford it. You can charge a substantial security deposit and an upfront 1st month/last month rental/lease fee. If the person you lease to can not afford it all at once, you can let them make the deposits in a three month payment plan. This will also help you continue to build equity and hopefully in a year the housing market will have recovered from this point.

As for nursing, in myy area there is a demand for nurses! I have been in nursing for more years than I care to admit and there are always swings in the demand for nurses, with a steady need for at least some nurses on a regular basis. I graduated when managed care was the new big change to healthcare. It was supposed to revolutionize patient care, um, yea right. Didn't last too long!

There are many nursing jobs that are outside "the box". I worked as a new grad at a rural community hospital, for a year, than transferred to a much larger hospital. There is also long term care, dialysis (always a greater demand for, than staff to fill), etc. etc. etc...

That is one of the beauties of nursing! As for boards, get as many of the books that list test questions and answers on the boards and read, study them until you can understand and answer them. Best way to study imho!

Good luck and I hope things work out well for you!! Keep us posted!

 

[dakcp2001]

I would hope that your DF will be doing all he can to help also!! If he will get unemployment that may help! Unfortunately, at this time the housing market in many areas is not good and it may be a bad time to try and sell your house.

I would consider leasing your house (say for a year) and that way you will still have your house when you are in a better shape to afford it. You can charge a substantial security deposit and an upfront 1st month/last month rental/lease fee. If the person you lease to can not afford it all at once, you can let them make the deposits in a three month payment plan. This will also help you continue to build equity and hopefully in a year the housing market will have recovered from this point.

As for nursing, in myy area there is a demand for nurses! I have been in nursing for more years than I care to admit and there are always swings in the demand for nurses, with a steady need for at least some nurses on a regular basis. I graduated when managed care was the new big change to healthcare. It was supposed to revolutionize patient care, um, yea right. Didn't last too long!

There are many nursing jobs that are outside "the box". I worked as a new grad at a rural community hospital, for a year, than transferred to a much larger hospital. There is also long term care, dialysis (always a greater demand for, than staff to fill), etc. etc. etc...

That is one of the beauties of nursing! As for boards, get as many of the books that list test questions and answers on the boards and read, study them until you can understand and answer them. Best way to study imho!

Good luck and I hope things work out well for you!! Keep us posted!

No one will hire a new grad nurse, does your facility? Willing to relocate! lol. Seriously, there is a shortage of experienced nurses, not a shortage of nurses, no one in my state hires new grads, even LTC requires 1to2 years experience. I am really really stressed! Right now school is so intense, and only 6 weeks left, so working more (I already work PRN as an Aide) is really not going to help my grade at all. But you gotta do what youve gotta do!

 

[Kellydelly]

No one will hire a new grad nurse, does your facility? Willing to relocate! lol. Seriously, there is a shortage of experienced nurses, not a shortage of nurses, no one in my state hires new grads, even LTC requires 1to2 years experience. I am really really stressed! Right now school is so intense, and only 6 weeks left, so working more (I already work PRN as an Aide) is really not going to help my grade at all. But you gotta do what youve gotta do!

Can you keep your aide job while you look for a GN job? I have never heard of a whole state that won't hire GNs. I graduated in December and was applying for RN jobs starting in October. I was working as a nurse tech and thankfully my manager let me keep that job while I tried to get a RN one, even after I passed the boards. Make sure that you apply for your license and the NCLEX now, so you will get your ATT quicker and be able to take the boards so you will be licensed and more attractive to prospective employers. Plus you want to pay for it while you still have money! Don't put it off.

 

[Evi]

This may sound odd but a friend of mine recently had a baby and her husband was laid off. They were considering selling the house and then they changed their minds and took in 3 roommates. Its a decision I don't know if I would do but if you have the extra space and live in a desirable neighborhood it may work for you. Considering we are in college town and she is in Cambridge it was easy for her to find grad students looking for better rent. The roommates actually cover the mortgage and the leave them with $300 extra a month.

I know this wouldn't work for everyone but you know I give it to them for looking outside the box and making a choice they can live with. Just don't make haste decisions think everything through and make sure your choice is one that you can live with.

I truly wish you the best and hope everything works out well.