Husband lost his job

[lisaross]

Devastated.... His union is fighting to get it back - that could be weeks , months if not longer and no guarantee - no he didn't do anything so bad - a customer complaint on words - crazy it got to this but it did.

Anyway so depressed - thankfully we have no debt but our mortgage - which we were planning on paying off this month -

We filed for unemployment - I work p/t - take home about 800 a month will try and put in a few more hours a week.... Will use the money we were going to pay off the mortgage to pay the mortgage monthly. - if we could take home about 2200 a month we won't have to dip into our emergency savings besides the mortgage payment.

I feel like everything we had planned is now done - was hoping to start putting our mortgage payments toward college savings for our kids whom are 12 and 14 so this is hard on them as well - summer vacation we will cancel - thinking of retirement depresses me when husband would of had a great pension etc etc - it's a really really good chance he will get his job back - I just don't do good under stress like this - I'm such a routine person - very realistic and I'm really scared now.

Any advice from those who have been in this situation - I wish I could just charge away and not let it bother me... It's been a couple of weeks and don't think I've spent a penny on anything besides necessities

 

[damiel]

So sorry for you and your family!
It sounds like you are in good financial shape so that is a big plus.
In 2008 when the bottom fell out of the economy the small city my husband worked for started having financial problems. He had been a police office for 20 years. They started reducing the work force and in 2011 the city could no longer pay the higher paid officer and laid them off contracting with the county. My husband lost his job after 20 years! The good news is we survived and you will too.

 

[Kristina4109]

I am so sorry you are going through this! I really hope that the union can help him out. It sounds like you are on top of things financially - it's great that the only debt you have is your mortgage. Not having debt looming over you like a black cloud is a blessing.

Sending you lots of pixie dust!

 

[gracie1]

Sorry to hear about your dh. You mentioned that you were planning on paying off your mortgage this month. Is that still possible? If so, maybe it would be a good idea to pay it off and that would free that much additional money up each month. Hang in there - things will work out!!

 

[kymom99]

My husband was let go from the best job he had ever had, salary wise in 2009. There was no union, so no one to fight for him. He went from being the golden boy to not being able to do anything right. Very upsetting and unfair. He filed for unemployment and got it but the company appealed it. He was not out of work too long, but his new job pays a lot less. We got by but had to adjust our way of living. Still have to be more careful now. The nice thing is, soon after he found a new job, I got a pin code for Disney and booked a trip for the next summer. Our family went through a lot when this happened and we needed the break after we knew we would be okay.

I am sending positive thoughts your way. You will be okay. Hang in there.

 

[OhMari]

Hang in there. Believe me you are not alone. I got cut in pay 1/2 and my hours are cut to 15 a week. I never wished in my life to be older so I could retire. Have your husband start looking for another job, update his resume. I had no idea how to do one. I was employed 29 years.

I just found another part time job that will be about 10 hrs a week. It is tough and hard on you and your husband, good luck.

 

[RitaE]

Really sorry to hear that. I hope it works out to the best possible outcome for you really soon.

 

[mefordis]

If you were going to pay off your mortgage next month you are in better shape than most employed people in this country.

I believe your dh should still get his pension, maybe offered as a lump sum but maybe once he retires.

Things will work out. You sound like responsible people.

Devastated.... His union is fighting to get it back - that could be weeks , months if not longer and no guarantee - no he didn't do anything so bad - a customer complaint on words - crazy it got to this but it did.

Anyway so depressed - thankfully we have no debt but our mortgage - which we were planning on paying off this month -

We filed for unemployment - I work p/t - take home about 800 a month will try and put in a few more hours a week.... Will use the money we were going to pay off the mortgage to pay the mortgage monthly. - if we could take home about 2200 a month we won't have to dip into our emergency savings besides the mortgage payment.

I feel like everything we had planned is now done - was hoping to start putting our mortgage payments toward college savings for our kids whom are 12 and 14 so this is hard on them as well - summer vacation we will cancel - thinking of retirement depresses me when husband would of had a great pension etc etc - it's a really really good chance he will get his job back - I just don't do good under stress like this - I'm such a routine person - very realistic and I'm really scared now.

Any advice from those who have been in this situation - I wish I could just charge away and not let it bother me... It's been a couple of weeks and don't think I've spent a penny on anything besides necessities

 

[lisaross]

i guess i'm overly responsible which is why i'm sick to my stomach over this...

I know he will not loose the pension he has - but i think what could have been...

i know i have money in the bank, but HATE to touch it....

I don't want to pay off the mortgage with the cash we have just incase we need more of a cash flow...

We now have to wait till middle of july for the union to get to the 3rd grievance step..

We have a vacation planned for July which we will cancel - already paid for kids camp so glad they will be busy and happy for the summer months.

 

[MissDaisyofTexas]

I'm sorry you're stressed. On the positive side, you are very prepared financially. Think of how stressed you'd be if you had a lot of debt or no savings.

I hope your DH gets back his job or finds another one soon!

 

[amcnj]

It sounds like you are doing the right things already, trying to keep expenses down and filing for unemployment. At least you have emergency savings if needed, and you sound optimistic he will get his job back which is a big plus. I guess eventually he will get a better feel so far as returning to his former job, and then decide about looking for another job if it no longer looks promising. So far as paying off the mortgage and college savings, hopefully this will only be a small road bump and things will back to "normal" soon, and thus not drastically change your overall "life plan".

Good luck to you and you should be encouraged that you are doing what you can given what you know at present.

 

[ceemys]

I'm so sorry. that has to be very scary. It sounds like you have planned for something like this and have a good financial head on your shoulders. I hope your husband gets his job back or finds another one that is just as good.

 

[JanaDee]

Devastated.... His union is fighting to get it back - that could be weeks , months if not longer and no guarantee - no he didn't do anything so bad - a customer complaint on words - crazy it got to this but it did.

Anyway so depressed - thankfully we have no debt but our mortgage - which we were planning on paying off this month -

We filed for unemployment - I work p/t - take home about 800 a month will try and put in a few more hours a week.... Will use the money we were going to pay off the mortgage to pay the mortgage monthly. - if we could take home about 2200 a month we won't have to dip into our emergency savings besides the mortgage payment.

I feel like everything we had planned is now done - was hoping to start putting our mortgage payments toward college savings for our kids whom are 12 and 14 so this is hard on them as well - summer vacation we will cancel - thinking of retirement depresses me when husband would of had a great pension etc etc - it's a really really good chance he will get his job back - I just don't do good under stress like this - I'm such a routine person - very realistic and I'm really scared now.

Any advice from those who have been in this situation - I wish I could just charge away and not let it bother me... It's been a couple of weeks and don't think I've spent a penny on anything besides necessities

I'm sorry. I've been there and know how difficult it can be. I also found out a week after DH lost his job I was pregnant.

DH was let go 14 years ago (on my birthday) because the company was going under, fast. We didn't know that at the time, but he was able to get another job in about 5 weeks and that new job was the best thing that ever happened to him and us.

The stress and uncertainty is emotionally exhausting. It's ok not to spend money on anything but necessities for now.

Here's hoping he'll be able to get his job back or find a new one quickly.

 

[JandJ]

I'm sorry! It sounds like you've been doing a lot right, though, with having no debt and an emergency fund. Hopefully it will get sorted with the grievance process, or he'll find something else, and you won't have to stress for too long.

 

[lisaross]

Thanks - hoping the unemployment kicks in soon - it shows pending

 

[crisi]

Take a deep breath - this is what you've been saving for. And MOST people get through this fine. You will be on pins and needles for a while - then either the grievance will be resolved in his favor or you'll settle into a new normal and he'll find something else.

 

[LovesTimone]

I'm so sorry this is happening to you.

First you seem in great shape financially. You are already making the adjustment right away, in your budget.. which is super important.

I know this might not help right now or it might make you feel a little better. God never gives us more than we can handle, and when he close's one door he always opens a window.

Sending prayers and pixie dust your way.

 

[TheRustyScupper]

Some Thoughts . . .

1) Mortgage:
. . . do not pay off the mortgage
. . . by this time, you are paying very little interest as part of the payment
. . . thus, there is no downside to paying the remainder monthly
. . . just resist the urge to overspend the savings
2) Other Debt:
. . . you have no other debt, so this is moot
3) Income:
. . . certainly, unemployment will help
. . . but, the company may appeal and the unemployment denied
. . . it would be best for him to look for part-time work is full-time is not available
4) Budget:
. . . with you $800, only food-gas-utilities need top be covered
. . . with some budgeting and maybe a hubby part time job, you will muddle through
. . . make a budget on paper, and stick to it, including updating bank balances
. . . with ALL income and spending on paper, it is easier to maintain

 

[lisaross]

Definitely no overspending......i am very budget oriented - always!

I agree, i will not pay off the mortgage - as i have that money sitting and will just use that stash to pay the mortgage each month so that will be a bit less stress to know that is being paid.

I am going to get some more hours at my job so i should come home with 1000 - 1200 a month.

Our health benefits end so looking into obamacare - cannot get someone on the phone to help so applying online - but can't fill in the area about coverage until i'm not covered so will fill that out on Sunday as benefits end the 31st.

We filed unemployment - it is pending...husband is doing take out deliver 1-2x a week so that is about 50-100 a week cash - plus looking for full time and some side contracting work!

We had a vacation planned for July to the outerbanks which we cancelled and was able to get refunded the deposits and our Busch Gardens Virginia tickets - how nice are they - really appreciate the kindness of others.

Kids end school end of June and thankfully - i have already paid for camp this summer so that will keep them busy and having fun most of the summer.

Having a yard sale tomorrow - and trying to eat and keep calm

thanks for all the encouragement!

 

[puffkin]

Oh Lisa, I am so sorry (this is Kelly in PA!). I thought something might be up but didn't think this

First, just take a deep breath. You will be fine. You already have so many of the "must dos" taken care of, that it is more of an emotional hurdle to cross. Trust me, we've been there when both DH and I lost our jobs back when everything crashed. Its awful, but we got through it and are in a much better place that it was almost a blessing that it happened. We learned so much about ourselves and what we could and couldn't live without and how to live a more fiscally responsible life.

I am not sure what NY unemployment is like, but here in PA you can still collect full unemployment and also work a pt job up to a certain amount before it starts reducing your benefits. The first things DH and I did was find part time work and we worked the max amount each week (worked out to about $250/each per week that we could earn) and still got the full unemployment. By cutting out as much as we could and working the PT jobs (which I hated working retail but we needed the money) our income wasn't too bad. We got lucky and found coverage that wasn't COBRA (which was outrageous).

I was out almost 2 years with a long term temp job in the middle for 7 months which helped keep my skills current. DH was out for 10 months over the same period. Towards the end we sold off our bedroom furniture and had our clothes in suitcases and our mattress on the floor (I never liked the furniture anyway, it was just hard not being able to replace it for almost a year because we needed the money). But you know what.....we made it.

We learned a lot of life lessons over that period. Everyone is replacable in business. Businesses don't really care about their employees. Keep an updated resume. Keep a folder of your job successes to reference. Have savings. Live within your means. Make time for family because work isn't all there is. Save for retirement on your own (outside of what work gives you) because it may not always be there. Network like crazy, you never know what doors may open for you. You will be fine.....I know it You know where to find me if you need anything!