We would be ok. Would probably have to cut down on luxuries more but other then that we would be fine. DH is in an industry/position where there will always be work regardless of the economy.
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09-07-2012 10:10 #11
09-07-2012 10:10 #12
Well 2009 didn't go well for us... got out of an abusive relationship, ended up homeless for 6 months because no one would rent to us, racked up a massive credit card debt paying for accommodation... ended up back in DV relationship for sake of having a roof over our heads. Spent the next 2 years working 50+ hours a week paying off debt and saving money to get out of DV relationship... finally got away and if the recession does hit i can see that cycle repeating itself again, unfortunately.
09-07-2012 10:18 #13-
- Join Date
- Jul 2010
I guess we would be fine. DP owns is house out rigt so no morgage. His job is pretty reliable so doubt we have to worry about that. My mum on the other hand might suffer I didnt even know we were headed for more bad times though
09-07-2012 10:23 #14
I haven't really thought about it too much to be honest. We are living week to week at the moment but things will ease up once I go back to part time work in 2 weeks. I've cut down a lot of unnecessary expenses so will try and save heaps before bub number 2 comes along in January. Worst comes to worst I'll return to work once my paid leave is finished and DH will be a sahd or work part time with his Dad. We have got a decent amount in our mortgage that we can redraw (don't really want to). I can always get work and decent pay, I'm a nurse.
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09-07-2012 10:29 #15
I finish paying off my car in a few weeks, then will be debt free apart from the house which is cheap. I've just planted 4 fruit trees, and about to grow carrots, zucchini, baby spinach and pumpkin. It was originally to just do gardening with the kids, but it will also save.
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09-07-2012 10:31 #16
Who knows? Who knows how bad it may hit us? If it isn't to bad and just means tightening the belt then we can manage to do that and sail through the recession. However if it hits really badly and the mining industry starts to fold (which is actually happening to a few atm) then we might find ourselves in more trouble. Dh is a carpenter who works in the mine. If he lost his job (even premanent in the mines is never permanent enough iykwim?) He would probably have to take up carpentry around town. There would always be some sort of work for him. I would probably take a part time job somewhere if work was available, again in a recession work will be hard to find and even more competitive. Our house mortgage is under 200k so cheaper then rent per week so we should be ok there, if rates went up through the recession as well as electricity etc we wouldn't be so cushy as we are right now. Its so hard to know how we will manage if the recession was to happen. We might be ok, we might not. But best to be prepared. So after dd's operation next month we will be saving our little bottoms off. We also have 2 cars (one new) boat, motorbikes etc all owned outright so i guess we would try and sell things but in a recession trying to sell things and find a buyer would probably be rather difficult.
09-07-2012 10:34 #17
DP and I both have safe jobs fortunately, we need to tighten the purse strings though as we'll hopefully be having a baby in a year or so, so our incomes will be reduced.
09-07-2012 10:38 #18
So all in all we have our own meat, fruit, veg, eggs, herbs and spice and our own water to drink and feed our plants. Luckily as I think it will come in handy.
09-07-2012 10:41 #19
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09-07-2012 10:46 #20Senior Member
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- Sep 2005
I don't get hysterical about predictions...
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