Savings Log of a 26yr old on low pay

MoneyWaster2007

Oh, mw - have you been told that you will be one of the redundancies, or are you summisng you'll be one of them? Would you re-locate if this is an option?

Yeah it is definite, I am going unfortunately. Re. relocating, it's the other side of London and as yet I'm not sure what the available positions are, nor am I sure I'd want to live down there on my own away from family and friends.

You've been with present employer a while now - is £k1-1.5 the correct likely pay-off?

Yep, I've completed 3.5 years service on the books, and it's 1 week per year served, plus 75%. The first 1.5 years were through an agency.

Regarding CV prep etc, I'd like to ensure I get the redundancy cash confirmed before I start to look as I don't want to pass up on free cash. I'm aware this will leave me less time to find new employment but I'd rather do it this way.

MoneyWaster2007

...and maybe that super hot HR lady can do more for you than raise your temperature.

I wish! It would have to be a miracle haha

MoneyWaster2007

I worked out that by the time I actually leave I should have in excess of £10k which is a really big achievement, but then I really have to secure new employment asap in order to continue the savings train!!!

Eco_Miser

MoneyWaster2007 wrote: »

Regarding CV prep etc, I'd like to ensure I get the redundancy cash confirmed before I start to look as I don't want to pass up on free cash. I'm aware this will leave me less time to find new employment but I'd rather do it this way.

Get your CV done. You don't have to start handing it out until you're finished, but start on it now. A good CV takes time to write.
Also finding a job takes time, start looking now. You can tell your prospective new employer you're not available until your redundancy date. Most will be willing to wait, most seem to prefer people in-work to the jobless.

ampersand

Eco Miser - you're there before me and spot on.

re:shift, yes mw, I'd agree that's not right for you and cost of living i.e. any London roof over your head could be a nightmarish hike, with more transport costs to factor in. Do use this time to finesse your c.v. and be sure of good ref.s before you leave.
Ask Ms HR how she'd proceed in the same situ. Seek every bit of positive help you can find - say so when you see her. Check with library. Read other Sits Vac in the wider spread of newspapers there, as well as online. Cambridge have brilliant sessions, c.v. assistance for all work-seeking/changing situations. None of this has any connection with your eventual redundancy payment. You could also prepare flyers for shop windows, ask to leave them in places you would like to work, with the promise of a c.v. upon further contact. Someone will be struck by your initiative and determination.

We all have been:-)...and as for that £10,000 total, mw! Could you have convinced that younger mw2007 then of where'd he be now??

You'll get fed up with me saying it, but how can I not.

CONGRATULATIONS! - and an exciting new start. Spring's the season for new growth.

block10

MoneyWaster2007 wrote: »

Regarding CV prep etc, I'd like to ensure I get the redundancy cash confirmed before I start to look as I don't want to pass up on free cash. I'm aware this will leave me less time to find new employment but I'd rather do it this way.

I would definitely recommend dusting off CV now and apply for roles immediately. If you found something before the termination date, im sure your firm would come to some reasonable arrangement, like mine did when i went through redundancy. My firm just revised the termination date, so never lost out on the severance.

MoneyWaster2007

You can tell your prospective new employer you're not available until your redundancy date.

I won't know my redundancy date until the end of the 30 day consultation period, the first day of which was today. Therefore all I can do for the time being is fine tune my CV. If I was lucky enough to get a new job before the 30 days are up I'd lose the payout. That's how I'm looking at it anyway. Sound logical? Feels like the right path to take, anyone disagree?

Seek every bit of positive help you can find - say so when you see her.

I spoke to the HR lady today and she said they are going to arrange for the Jobcentre to come into work and hold mini workshops giving advice on CV writing, interview technique, cover letters etc. which sounds pretty decent. It seems to be well handled this whole debarcle; they seem to be helping as much as they can. Thanks for your kind words once again Ampersand, I'm gonna be dead chuffed when my bank balance reads £10k!!! The real challenge will be keeping it there/ increasing it....however I do like a challenge :cool:

linz

Sorry to hear your news MW but I will be keeping my fingers crossed for you and hope you find something soon. I remember reading about a jobless guy who stood on the side of a main road during the morning commute dressed with an A board asking someone to give him a job and he got quite a few offers by all accounts, just for standing out. You should aim to have something different to offer than the next person on your cv / at interview, something that makes you stand out from the rest.

I've never been on the other side of the fence, hiring staff, but you have many readers who I am sure will help you out with your CV, interview techniques etc.

Fingers crossed 2014 is your year!

mike88

Sometimes one has to move away from home to secure "decent" employment. When I was 18, after completing my studies, I worked in Newcastle 300 miles from my home and then London 150 miles away. That reaped dividends and from a lowly base ended up as a senior executive and later a Company Director. If there is no work locally moving away can be very beneficial as you may secure a job with a career structure with opportunities for advancement.

Those who relocate are not alone. There are literally thousands of people who do it. It's not for everyone of course but something to consider maybe if nothing satisfactory turns up locally.

Stuey1980

Working shifts can mean that you can work away and live at home. It may also mean a great income which may not be available in your area. Its not for everyone, but I work offshore and enjoy being at home 6 months of the year and still earning a great wage. There is also scope for advancement from the very bottom to the top for the person willing to make an impression.

BTW, very well done! Great progress.