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  1. #1
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    Default How will your family cope? I'm kind of freaking out here

    I've been reading about the recession hitting us again late this year/early next year.

    How will your family cope?

    I've gone back to work so we can start save some money and have some cash instead of living week to week basically. It's casual 35+ hours a week but I'm trying to get permanent which could take a few more months.

    DH works in luxury automotive services somtime's there is plenty of work some times it's 1 or 2 jobs a week. I'm getting a bit worried that it's all going to dry up soon.

    Do you have any money saving tips? Or how your facing the recession again?


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  2. #2
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    We have virtually no savings left as it is. We have had a very expensive year this year.

    TBH I am going for the good old head in the sand method.

    DH's work have already made quite a few people redundant and can only gaurantee his job until Christmas.

    My health is not good enough to go back to work (yet).

    Scary.

  3. #3
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    Have you got the article? I'd like to read it myself.

    I have no idea what I would do. I hope it doesn't get bad.

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    I would like to read it too. I think my dh's job would be safe although a few of the workers under him would have to leave if things got tough. I hope not as they all have family's to support

  5. #5
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    HugsBunny is offline Once upon a time there was a bunny.........
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    I'm hoping for settlement to go through and be finalized this week for XH to buy out my share of our property and assets so after I pay all my debts off, I'll put what's left in a high interest account and hopefully be able to leave it there so the boys and I have backup if and when needed.

    Once I'm debt free, life is going to be so much easier. I don't want to buy another house until I have a large deposit so it's something at the end of my five year plan.

  6. #6
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    I have it on my PC I'm on my way to work when I get home I'll post it up, but if you Google recession 2012 predictions there is heaps on there and from reputable newspapers.

    I started looking in to it a few months ago after we spent all of our savings.

    Right now we have $400 in savings if my dog got sick/ or we had some emergency dental thing we would be stuffed and back in the red.

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    I work in an industry in which when things are tough, we get more work. Difficult to explain.

    DP runs his own business which could possibly run into trouble but we have little debt (and only for the office which could be easily sorted), we're in credit with our electricity and gas, have savings and could live off my wage alone technically. It wouldn't be easy but we would survive.

  9. #8
    jbish's Avatar
    jbish is offline “Today you are You, that is truer than true. There is no one alive who is Youer than You.” Dr Seuss
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    This is scary for us. We got into a fair bit of debt (credit cards etc) while I was on maternity leave and have dug ourselves into a bit of a hole. We are slowly trying to work out way out of it. Living week to week is a reality for us too and I'm so over it. I've had a very expensive month with birthdays etc so once that has passed I am getting down to it and watching every last cent. Trying to pay off debt and save as much as we can before things get worse.

    My job is fairly secure. My DP on the other hand lost his job about 9 months ago and has been working for a place casually ever since. While he is a vauled team member and does a lot for the place they just won't put him on full time. That place in particular was hit hard at the last recession and all but about 3 employees were made redundant. Ever since then they have relied heavily on casual and labour hired empoyees which is what my DP is. Makes ok money but no security whatsoever. It is very hard.

    At the end of the day, I just try to think that worse comes to worse, I can "try" to sell our house. It will break my heart to do that, but if it comes down to it, we will just have to do it. Although renting for us would be about the same as our mortgage, we have equity in this house which we could use to get out of the debt. I don't want it to come to that. I think if I work hard enough I can get us back on top again.

  10. #9
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    headoverfeet is offline The truth will set you free, but first it will **** you off. -Gloria Steinem
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    Hubby is in mining and they are recruiting at the moment for his sector so I don't think it will effect us too much, his wage is set to increase so household cost increases won't really bother our budget too much at all. It might be a good time to buy though? Hopefully!

  11. #10
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    What happens in a recession again? Yeah.. I'm not somebody who understands economics!
    Well dp is a truck driver. They wil be pretty safe right? I work in community services which there is always work for. We have a very small mortgage and no other debt so hopefully it will all be fine. Im hopeless at saving though. We don't earn enough to save large amounts and it seems as though as soon as we save a little, some huge bill turns up.
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