Jumping aboard!

SomersetSaver

downsizer3 wrote: »

Sadly business not looking good and realistically I can't see me lasting another financial year.

Being positive, I've felt trapped in this job for so long now - if its forced upon me I can maybe find a new path which would be exciting. Bit daunting at 45 but hey ho :undecided

Sorry to hear that business not good.
But thought I'd offer some encouragement re finding a new path. I am part way through my complete career change at 41 and it's probably the best thing I ever did, so hopefully the change will be as positive for you. I too felt trapped in my old job, and have felt so "free" since - had the odd wobble as it feels so alien to me to be spending money rather than saving (back at Uni full time so very limited in terms of generating income but I am trying!) but still feels better than being in a rut.
So get your planning going for March next year and it might not be so bad after all!
HTH
SS x

downsizer3

Thanks for that! I am trying to embrace the inevitable allbeit a bit scarey!!
Just got to decide what to do - I'd like to get my career choice right - to see me through till retirement - hmmm.
I've sown the seed with my partners about having to get out - not shocked but not exactly overjoyed either!! Its not like resigning sadly - so much more to getting out of a business - urgh - here goes....

downsizer3

Ah. Well. Thats the decision made - we're closing our business at the end of this financial year. Just not enough work and we're all so weary from 5 very very tough years. We've also lost a lot of our personal capital but I always figured that that was what the pot was for. Got a hefty redundancy bill to meet which will take a lot but at least we have it ready.
So. Scarey and exciting. Been here for donkeys and want a change in direction - so here's the push (swift kick more like) that I need.
Next year I'll be out of a job. Gulp. Time to think properly about whats next.
So so glad I offloaded that big house and debts - I'd be a scared lady just now - or much more scared than I already am.

First step towards a new path. Eek.:eek:

Sepa74

Oh wow, what a big decision. And a sad one. But you're making it the right way - in consultation with your partners, understanding your liabilities and ensuring you are looking after your employees, who will be just as scared as you right now.

I think you should feel really, really proud of yourself. Being in business is really tough, and to make the brave decision to get out in a structured way rather than sticking your head in the sand and waking up one day to find you are bankrupt is a really brave one. Well done, and I really admire you.

downsizer3

Sepa - thats so kind of you to say so. Not feeling very in control of it all I must say. More like reacting to the inevitable.
Spreadsheets all worked out to the same point and I can see what I'll have left to survive on. Going to be hard but do-able ( for a while).
Where's that lottery win?............

downsizer3

Got my tax credits OP under £1k ( from nearly £3k) so I'm pleased with that. Still waiting to hear about this year's allocation but I'll keep paying back what I owe until I know - don't want to get behind.
No big expenses this month (shouldn't tempt fate) so I ought to be able to scratch through. Kid's holiday activities were all budgeted for but still cost a lot.
I do feel the dust settling a bit - moved just over a year ago and all that that entails - debts will be gone in the not too distant future and trying to save for my being out of work next year.
If i can get a 20hr job and save the childcare costs I'd hope to manage on a pretty low wage but actually I ought to be looking to get on top of my pension too. That had to take a back seat whilst I got over the split/move and resultant costs - so I need to bring that back into focus along with savings.
Still no space to relax eh? At least I'm moving in the right direction rather than firefighting any more.
Amazing how long it takes to get back on track after a couple of years of financial turmoil.
Pesky ex. :mad:

downsizer3

Not heard from tax credit people but some money arrived in my account today. Skint but going to struggle on and put that into a savings account - A) Just in case its wrong and I have to pay it back!! Gotta get those savings built up for D-Day.
Work situation grim as always - living for weekends these days which is rubbish but looking forward to getting out. One day the stress will be less but I've got 6ish very hard months ahead first. I think the trick is to try and let it wash over me. I've done my level best and now its a damage limitation exercise. The redundancies will be hard but unavoidable - its just when and who.........
Famin' recession. :mad:

downsizer3

Just noticed that my 0% term has finished on my credit card so signed up for another pronto. Got stung for £10 on the outstanding holiday balance but paid it off straight away and at least its cleared. Going to be a tough month but wasn't going to pay the fees to transfer such a piddly amount.
Also signed up for a cash ISA with a better rate - my RBS one was 0.55% - rubbish ( not that there was anything in it) - I'd like the little I can save to get some interest at least!
Here's to racking up those savings over the coming months...:)

Lois_E

Hi downsizer

Just found your diary and wanted to say hello. :wave:

I too am a single parent with kids who have no contact at all with their dad. It's hard. Hang in there. You may feel alone at times, but there are others of us doing the same thing, and you'll always find supportive people here on MFW to listen when you need somebody to offload to.

(In case you're interested, here's a link to my diary.)

downsizer3

Still no word from TC so no idea where I stand. Have repaid £1800 ( ow) so will call to see what the latest is - maybe this years allocation has paid off the remainder? No idea but would like to know so that I can change my many many spreadsheets........:o

Mum is buying school shoes for DD this weekend bless - I had hoped to get some new shoes for her myself but no money to do so. Next month I hope....
Is foot binding really that bad?

Its when I look at my own clothes I realise how scabby they are getting. I'd have more to choose from if I lost half a stone so I need to do that rather than hope to buy any with fresh air........will start tonight as I'm out to lunch today ( gift horse - mouth etc)