MoneyQueen’s MFW Journey and Daily Diary

Floxxie

MoneyQueen wrote: »

Oh that's a terrible thing to happen... Is he suspended with salary or without?

Fingers crossed ... this phase passes soon

MQ

Thanks MQ, no fully paid, thank goodness.

And I hope your phase passes quick as well.

xx

Button21

Hi MQ,

So sorry to hear about your situation - my husband was made redundant twice in 2008, but that forced him into applying for jobs he didn't think for a million years he would get, but was lucky enough to get one!

Stay positive and I hope things work out for you.

Button x

Lynn11

Sorry to hear your news but hopefully it will get better in the long run. It is really hard to keep your confidence and mental state happy when going through redundancies (also when you have been saved the atmosphere is still there).

I have been made redundant 3 times and in 2008 I went back to work part-time after maternity leave to be told that our company was closing the scottish office and moving to midlands - made redundant in Sept. Hubbie was given redundancy notice in July (before our holiday so he did not really enjoy). He convinced himself and me that he would be paid off - works for the housing industry, Anyway 2 people were made redundant in his department but him and his boss were kept on. At that time we pulled in our belts and spend money wisely. I found another job for lesser hours and a drop in salary of £3k but it fits in with daughter's nursery days.

Roll on June 2009 - everyone in hubbie's work got a redundancy letter so he was worried again. I decided not to worrry as I had got so stressed out in 2008 and we had adquate savings to see us through. He survived this redundancy and at christmas there his boss handed in his notice so he is the only one in the department - fingers crossed his job is semi-secure unless it goes to the wall as we are starting the process to move house and get a bigger mortgage.

Hopefully it will work out that only 1 of you will be greatly affect but you are doing the correct thing planning for the next 3mths wisely.

SmlSave

Just popping on to give you a (HUG) and glad to see you're keeping positive.

Queen-Bee_2

Hi there MQ,
Sorry if you've covered this before, but do either you or your DH have income protection insurance?

I was made redundant last year and found the consultation period was the worst bit of the process. Hopefully, one or both of you will be OK, but until then, chin up and hang on in there,
QB x

MoneyQueen

Thanks everybody,

We both are trying to stay positive about this. Hopefully we would atleast have one job secure. It's so strange, we both work in public sector and always thought our jobs were as secure as any job can be.

Queen-Bee,

We don't have a income protection insurance but hopefully our savings will see us through.
We would also have to look into a life insurance policy now if I am made redundant as my employer provided life insurance for me as standard and for DH for very little premium.

I just hope they get sufficient applications for Voluntary Redundancies.

Take care everyone

MQ

MoneyQueen

No new update other than that I have paid another £9.58 into my mortgage account to bring the balance to a round figure

Mortgage currently stands at £94220.

The criteria for redundancies is not out yet so it's just a matter of waiting.

Both of us have opened another Regular Saver today. I am only applying for regular saving accounts where I can change the amount that I can pay in so that if we are made redundant, we can still continue with the accounts.

Still have to apply for few more

MQ

Tesco_points_addict

Hi MQ, so sorry to hear about your job worries.

I know what you mean about juggling all the regular savers, we have had a least one ending every month since November. I cannot get rates anywhere near as good as I did last year:mad:.

I think we have the same ISA regualr saver!!! Saffron??

We have opened another Barclays one and a Prinicipality but as we are seriously looking at changing our kitchen soon I think I will stick with these two once the others have all ended (still have HSBC and Saffron running)

Fingers crossed for good news

TPAx

MoneyQueen

Hi TPA,

Have you looked into paying for the kitchen with a credit card. We paid for our kitchen with 12 month 0% credit card so could still save in regular savers while paying the minimum on credit card. We even bought our car with a credit card. Had to pay 1.5% but the saving rates were really good then

Also you have peace of mind if things go wrong as you are protected

I have regular saving accounts with HSBC/ Principality/ Stroud and Swindon (all opened this year)

Previous Principality one has come to an end. Need to send the passbook for withdrawal and we have one with Bradford and Bingley which will finish soon

Yes, our ISA is with Saffron. I just hope they have a similar rate for next year also

MQ

Tesco_points_addict

Yes, our ISA is with Saffron. I just hope they have a similar rate for next year also

Yes me too!! I haven't had a 0% card for a while so will look into it, good thinking batman!

Do you pay your Council tax monthly with your credit card or in one lump sum? I am going to check with my council tomorrow to see if they take payment via card.

TPAx

EDIT: just checked online they say they accept payment via CC and no mention of a fee, although they no longer offer a discount for paying the full amount in April (so no way of making a double wammy!! Oh well we cannot have it all)