Do we need a reality check?

getmore4less

getmore4less wrote: »

What's the contingency for the next redundancy?

mynameiscatherine wrote: »

What's yours?

If I live my life thinking I'm going to get made redundant every month how will I ever get a house? If I save up a 30K deposit for a house I would be silly to actually use it for that purpose 'in case I get made redundant'.

I didn't think we would get a mortgage but there's no harm in asking is there. Now I got the answer I thought I'd get, I won't get my hopes up & we'll get a rented house and save which was our original, more sensible, plan.

Thanks to everyone for the helpful responses

You need a plan, the move home won't be so easy if the money stops coming in and you have a mortgage.

A few months spends is a start and better than nothing if the contingency is based on one income it won't be 100% of spends it might only need to be a couple of £k to give a breathing space.

With the last redundancy, even moving home did not stop the debt building up, just try and be a bit more prepared this time. How long did it take for him to get another job?

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Since you asked about my redundacy plan, been living it since July 2009, might think about work later this year got a couple of holidays to do first.