I Could Just Scream

[lesroi]

I wonder if there is anyone out there that feels like they could scream over their financial situation right now. Things have been so hard this year for alot of people. I sell Real Estate and you know what that means, you got it no money. We have had our Christmas trip planned for over a year and even had all the money saved for it. I had to call and cancel due to our low bank account balance and I need our trip money to help with the bills. I am about 2 seconds from telling the bank they can have the house and just giving up. I am sick of needing more money each month than we have. I am not sure how other people are dealing with this, but we can't be the only ones. Just had to vent, and I still feel like screaming. Kim

I feel ya!!! I am a Realtor in Central Florida and OUCH, it hurts! (And as you can see below, we have a bit of a little bundle on the way...eeek! So now I can't even go and get a salaried position in my old career until after our LO arrives, and I wanted to be able to stay home, at least for awhile. Ugh.) Thank goodness my husband has a "normal" (lol) job or we would be in even worse shape. We are already spending more than we make right now. Good luck to us all!

Tracy

 

[budbeerlady]

Just wanted to pop in and hug everyone. Dh is an electrician, a laid off Michigan electrician. This mess is affecting everyone these days and I hope it gets better soon. I know we can hold on for a while as long as nothing major needs to be fixed but this one will likely be longer than the standard Thanksgiving to Christmas lay off like in 2005 and 2004.

I cried with my sister as she lost her house on the other side of the state when her (mortgage broker) husband lost his job and eventually she lost hers do to scale backs. You cannot live long on unemployment and pay all the bills. Its hard to see hard working decent people lose everything these days.

 

[Tinker'n'Fun]

Yeah - not for my financial situation, but for a thread I can really relate too...


I was disabled in a car accident 8 years ago and now received SSD, very lucky to get it, but extremely depressing to find out that I was so sick prior to the accident and didnt even know it. DH is a printer and the industry in our area is very depressed. He was laid of for 3 years and recently (3 weeks ago) got a job that looks somewhat promising. It pays a very low wage, but better than minimum wage so that is good. I have been struggling with bills for the last 8 years. I rob Peter to pay Paul and I have recently found out that Peter is forever gone.... He had enough of me or yeah and Paul still wants his money. I have taken loans from the Bank of Mom to pay the childrens tuition and this has accumulated to a debt that I am sure I will never pay off. The guilt of the loans has slowly reduced me to a blubbering hormonal 40something mom. Dont get me wrong. WE have our house, enough food each month to get by, and debt collectors who know me personally and arent too mean anymore. I use my imagination to travel all over the world, pay bills on time, and live carefree. DD is getting to go to Disney this year with school (all $ was fundraising) so I am happy for her. But yes it is very depressing. It is getting worse. I can't believe food and gas prices. I have chronic pain and used to love just walking around the park to get my mind off it but now I can't pay for the gas to get to the park!!!

But every morning I get up, thank God I am still living, look at my wonderful husband and 2 very understanding teenagers and I cant complain. (Well Dis Boards dont count do they??)


For everyone out there. Try to look up and maybe something good will come your way. I will be right there looking with you.

Diane

 

[JuliaEeyore]

I just wanted to say to everyone who is going through a rough time.

We've been fortunate so far, but DH's annual bonus is usually about 20-25% of his annual income, and we're hearing rumours that it's going to be a lot lower this year then in the past, so that's a scary proposition. It could be the equivelent of a 20-25% pay cut for him.

I'm not usually the "woe is me" type, but man what I'd give for a bonus anywhere NEAR that. I never got bonuses in my most recent job of 5 years that I was JUST laid off from. (And this is my 2nd lay off in 8 years... never my fault, but geez, I'm starting to get a complex!)

Boy, I really sympathize with everyone in this thread... I'm SOOO sorry! I can't believe all the hardship. This is supposed to be such a happy time of year... hmpf.

I'm a firm believer in the whole "everything happens for a reason" cliche so, hopefully that's the case for everyone here.

 

[beagle744]

I feel your pain too. In March I was sitting pretty...no debt except my mortgage, nice savings, vacation fund, etc. Then I got fired because the new snot-nosed partner didn't like me. Six months later, I finally found a job, but living on unemployment ran up my credit card debt and ate up most of my savings. I just used my Christmas club money for bills.

Oh, and my new job pays $11,000 less than my old job and I'm a single mom.

I'm back to where I was 10 years ago, financially.

We were in the same spot a few years ago when DH was laid off. Ran up some debt while he looked for work. Then I added to that debt with a huge amount of off insurance dental work. Still paying off the debt.

Next fall DD is going to college. The plan was that my ex (her Dad) and I would share the college expenses. Then ex decided to commit a heinous felony crime and his current wife is divorcing him. He has sucked all the equity and out of his house and racked up debt paying for 2 lawyers (one for the divorce and one to keep his butt out of jail). He is still working so his income will reduce DD's financial aid possibilities but he cannot contribute to her college tuition at this point so I'm faced with coming up with all of it on fairly short notice. Not sure how I'm going to do this.

to all facing difficult times.

 

[ducklite]

I'm not usually the "woe is me" type, but man what I'd give for a bonus anywhere NEAR that.

I usually get a very small bonus, if I didn't get it it wouldn't affect us financially. With my husband it's the equivelent of a pay cut.

His bonus is part of his total compensation package. It's based on "bonus" and "profit-sharing" with most of it being the latter. If the company doesn't do as well, there's no profits to share. Not getting the bonus is the equivelent of taking a pay cut. In essence the lower the bonus, the more of a pay cut he takes, and it's looking like it could be over 20%, and as much as 25%. I know very few people who wouldn't feel the pinch if their pay was suddenly cut by 25%. I know we will.

 

[MzDiz]

nevermind

 

[TTFN]

I'm putting on my flame suit here....but please remember these issues when the Presidential election rolls around. A few elections ago the question was asked "are you better off now than you were 4 years ago?"...I think we know the answer to that question this time.

 

[ChrizJen]

I'm putting on my flame suit here....but please remember these issues when the Presidential election rolls around. A few elections ago the question was asked "are you better off now than you were 4 years ago?"...I think we know the answer to that question this time.

No flames here...

 

[ducklite]

I'm putting on my flame suit here....but please remember these issues when the Presidential election rolls around. A few elections ago the question was asked "are you better off now than you were 4 years ago?"...I think we know the answer to that question this time.

No flames from me. We've definintely cut back on things due to an uncertain economy. We've become a lot more conscious of our spending--if it's not on sale or I don't have a coupon, it's not purchased.

We count our blessings that we've got good jobs that seem fairly secure, but anymore nothings to be taken for granted in that department.

I'm keeping those who are struggling in my prayers.

 

[wvjules]

I usually get a very small bonus, if I didn't get it it wouldn't affect us financially. With my husband it's the equivelent of a pay cut.

His bonus is part of his total compensation package. It's based on "bonus" and "profit-sharing" with most of it being the latter. If the company doesn't do as well, there's no profits to share. Not getting the bonus is the equivelent of taking a pay cut. In essence the lower the bonus, the more of a pay cut he takes, and it's looking like it could be over 20%, and as much as 25%. I know very few people who wouldn't feel the pinch if their pay was suddenly cut by 25%. I know we will.

I've always though of a bonus as a "bonus". Budget according to your salary and the bonus is like a gift...never expect it or depend on it and it wont' be seen as a pay-cut.

 

[ead79]

Lots of for everyone in a tough financial position right now.

I have been in a very uncertain place before, having been laid off once and having quit a job that was sucking the life out of me once. It's really hard, and it takes its toll on you emotionally.

If you had asked me a year ago if we would be where we are today, I would have told you no way. But sometimes God gives us blessings beyond what we could imagine. We are so deeply blessed (and I'm not talking primarily about financial things).

So keep your chins up, things will improve.

 

[RoyalMidnight]

I got laid off at the end of August. Thank God DD is going to her dad's for Christmas, or this would be a lean one for her.

I've interviewed and interviewed, got into the Civil Service exam and passed, so I should have a new position within 2 weeks. It's much lower pay, but once you get into the Civil Service here, as long as you don't screw up hugely, you're pretty much set for life.

You just get low pay at the start. It's worth it, though. After ten years, you get health insurance for the rest of your life.

 

[ducklite]

I've always though of a bonus as a "bonus". Budget according to your salary and the bonus is like a gift...never expect it or depend on it and it wont' be seen as a pay-cut.

Then you've never had a compensation package that includes a guaranteed bonus. Unfortunately the way it's written where DH works once you read the fine print, it can end up being $1, even if it were $1 million a year in the past. Like I said, when it's been at "X" for the past ten years and then suddenly it might be a very small sum, it is a compensation cut.

You might not see it as such, but anyone with this type of compensation structure sure will.

 

[DMickey28]

I usually get a very small bonus, if I didn't get it it wouldn't affect us financially. With my husband it's the equivelent of a pay cut.

His bonus is part of his total compensation package. It's based on "bonus" and "profit-sharing" with most of it being the latter. If the company doesn't do as well, there's no profits to share. Not getting the bonus is the equivelent of taking a pay cut. In essence the lower the bonus, the more of a pay cut he takes, and it's looking like it could be over 20%, and as much as 25%. I know very few people who wouldn't feel the pinch if their pay was suddenly cut by 25%. I know we will.

I understand what you are saying. DH's total compensation package consist of base, commissons and bonuses. This year alone 44% of our income was base the rest was commissons and bonuses. Of that 56%, 46% of it was bonuses. So basically 25% of our income this past year was bonuses as well. Ours have been done throughout the year though and are based 100% on DH's performance, not that of the company. We would have survived without them but we purchased 90% of DS's stuff with them, as well as paid down some significant debt.

Lots of percentages, I know, but 25% of money that you recieve on a consistant basis every year. You do start to depend on it.

I've always though of a bonus as a "bonus". Budget according to your salary and the bonus is like a gift...never expect it or depend on it and it wont' be seen as a pay-cut.

We plan our budget based only on gauranteed money and not the extra commissons or bonuses. However, a lot of what we did this past year would not have been possible without the bonuses. We purchased DS's whole bedroom set, along with 90% of his other stuff. We also got a new TV and paid down some significant debt. We could have survived without it but not had all those extra's and DS would have much less. As it is, he doesn't have a ton anyway.

 

[slo]

I'm so sorry for how things are for you

I also understand how you feel, because we are in the same boat. I have it on 2 ends though, which gives me double stress. I have the personal end, which is hard because I started my own business in June, and haven't collected a paycheck since I left my old job in April. Then I have it on the business end - I'm not having as many customers as I would like, and I stress about paying all the bills that go with the store.

We all have to keep the faith, and know that this will pass, and it will not last forever.

Take care, and God Bless everyone!!

 

[ducklite]

I understand what you are saying. DH's total compensation package consist of base, commissons and bonuses. This year alone 44% of our income was base the rest was commissons and bonuses. Of that 56%, 46% of it was bonuses. So basically 25% of our income this past year was bonuses as well. Ours have been done throughout the year though and are based 100% on DH's performance, not that of the company. We would have survived without them but we purchased 90% of DS's stuff with them, as well as paid down some significant debt.

Lots of percentages, I know, but 25% of money that you recieve on a consistant basis every year. You do start to depend on it.



We plan our budget based only on gauranteed money and not the extra commissons or bonuses. However, a lot of what we did this past year would not have been possible without the bonuses. We purchased DS's whole bedroom set, along with 90% of his other stuff. We also got a new TV and paid down some significant debt. We could have survived without it but not had all those extra's and DS would have much less. As it is, he doesn't have a ton anyway.

Exactly. We don't need this money for month to month expenses, but we definitely use it for larger projects around the house, charitable giving, and discretionary spending throughout the year. We were looking towards using some of this years bonus to resod a large section of our lawn and add some additional landscaping, plus put a chunk of it away towards the $20K we'll need in two years to repaint the house. The sod and house painting need to be done one way or the other, so we'll have to pull it out of our monthly budget, which means cutting back on other things.

 

[lulubelle]

We feel it, too. DH is in Land Development for a major homebuilder and they have had so many layoffs. Every quarter they let more people go and we hold our breath, thankful when he makes the cut. Last year all the managers had a 30% pay cut. We adjusted to that ok, but it wasn't easy! For 2008 they are doing away with bonuses. I understand Anne's situation all too well. It is written into his salary...if he does A, B & C and finishes project 1, 2 & 3 on time and saves "X" amount of dollars on contractors, he gets full bonus of 25% of his salary. Any goals not reached, the bonus shrinks. But to have it go away completely will be devastating. You do learn to count on it, and DH works really hard and deserves it. But I do understand if the $$ is not there, it's not there. And I took a 30% paycut when we moved from Orange County to Riverside - oh well. But we do still have a lot of be thankful for.

 

[kinntj]

I'm so sorry for all of you who are having hardships right now.

I know it will get better for you, but it takes awhile to come around.

My DH was laid off 5 years ago and had alot of stress due to that. It's very hard wondering where your next paycheck is going to come from. I still had a job, but nowhere near what DH makes and it was only a matter of time when the debt would rack up.

Things are good now, but we still live life a little on the edge wondering if his job will be there. Once you go through it, it changes you.

Take care and good health to your family!

 

[T. Lynn]

I'm also a Realtor and our area is feeling it as well. I hope things turn around soon but wanted to let you know that I understand where you are coming from.