Redundant from March 31st

Buddingblonde · 24 January 2011 at 10:31PM

And I dont know whether or not I should be buying supplies while I still have money.
I am tempted to get a second freezer and also to start buying bogofs and stockpiling things that I know that will will use - cat food, toilet paper, sanitary stuff, cleaning products, pasta, rice, etc.
Or should I just be trying to save as much money as possible before my income drops.

OH seems to think that we dont have to worry too much and he is spending like he usually does. I had to beg him to start taking a packed lunch with him to work as he was spending a fiver a day on food at work. He seems oblivious to the financial situation and thinks that stock piling is excessive and that the more we have of stuff in the house the quicker we will get through it as it is there.

Thoughts please.

Spendless · 24 January 2011 at 10:47PM

Can you manage on 1 wage? Will you be eligible for JSA contribution based for 6 months? You could get extra in for things you won't use more of just cos you've plenty if it goes on offer, as well as putting money into a savings account. Will you get any redundancy?

Buddingblonde · 24 January 2011 at 11:09PM

I will get JSA conts and we should just be able to survive on one wage if I can convince OH that we need to be careful.

tizerbelle · 24 January 2011 at 11:35PM

You need to work out your finances now. Get over to the debt free and OS boards for advice on making your money go further. Work out what you spend each month on what - every little thing you buy (incl OH extravagant food treats) and work out what you will have coming in and start making changes now to reduce your expenditure. I don't know how much redundancy pay you will get but if at all possible don't use this for day to day living costs - keep it as a rainy day fund - car repairs / emergency needs - what if OH was sacked for some reason / became ill and couldn't work, you'd need the extra.

floss2 · 25 January 2011 at 8:16AM

I would suggest that you gather all your finance info together, sit down with your OH and write it all down. Then ask him what he suggests your plan willl be, based on one salary and assuming you save any redundancy payment. Does he know your fknancial position, or do you manage things?

belfastgirl23 · 25 January 2011 at 12:30PM

If your OH is as described, to be honest I'd just be trying to pack away as much cash as possible in a 'hidden' account. If he is determined not to worry about it you can't do anything about that. So let the cupboards run low if that's what it takes to persuade him that things will need to change. the great thing about cash is that it can be used for anything from food to leccy bills, unfortunately your stockpile won't do that....and you will have the mental security of knowing you have a rainy day fund.