At my wits's end

MoneyWorry

Hi all


I wasn't sure whether to post here or in another forum, but here goes. I live on my own with a mortgage.
Back end 2007, I had a reasonable office job (£23k) and had been there 13 years. Company was taken over and I was made redundant for the first time and at the beginning of the financial crisis. I found work reasonably quickly (17.5k), but I reined in my spending and didn't get into debt. In 2010, I was offered another job (19.5k) which was I thought a good move. That company laid everyone off in 2012 and I was made redundant. I got another job this time at 16.5K, but I was struggling to manage so applied for and got a job at £21K in 2014. Then, they started to struggle and I along with some others was made redundant in November last year. There was nothing permanent around, I achieved a six month contract straight away which ended in April. The company have extended it for three months, but then it will definitely finish. I now have a CV that looks like a car crash and to be honest I have lost hope entirely of my life improving as I am now nearly 57. By some miracle, I am still not in debt, but all I can see ahead is more of the same until ultimately debt will beckon. I can't spend money in the house, although it is starting to need serious money spent on it. I never go out, because I'm always trying to save for the next period of redundancy. And with each redundancy, my salary is eroded. I guess there are many like me and indeed many worse off than me, but I am seriously depressed and really don't want to keep living like this.

Teapot55

A bit drastic, but could you consider buying a smaller property with a smaller mortgage?

fewgroats

Surely he would still have to pay the mortgage before getting a new one, Teapot55?

ThemeOne

It sounds like all your jobs have lasted at least 2 years (apart from contracts) and the fact they didn't last longer is not your fault, so I wouldn't worry too much about your CV.

Employers generally no longer expect people to stay in jobs for years and years, though probably after your first job lasting 13 years that's what you expected, but the world isn't like that any more (as you've experienced).

I do think you've had a run of rotten luck though by the sound of it, so you have my sympathies.

Could you take in a lodger do you think? It might provide a bit of a financial cushion for the future.

Mrs_Soup

I think your CV will be fine- given the number of redundancies you have stayed in all jobs for at least 2-3 years apart from the current one which you would put down as a fixed term contract. How much longer do you have to go on your mortgage given that you are 57? Is it not almost paid off?

Takeaway_Addict

fewgroats wrote: »

Surely he would still have to pay the mortgage before getting a new one, Teapot55?

It may reduce the outgoings though per month or even pay it off...depends on the scale of downgrading

OP- Why not start doing some agency work now to build coffers up rather than trying to save everything...you still need to enjoy life a bit.

Carmk2008

57 is not old so retrain, think positive and I'm sure it will come good.

xapprenticex

fewgroats wrote: »

Surely he would still have to pay the mortgage before getting a new one, Teapot55?

I felt it was a she.

MoneyWorry

I am indeed a "she". My house is an equivalent of a starter home so downsizing or lodger is not a possibility. The more positive news is that in 3 years my mortgage is finished. Thank you so much though for being positive. I feel a bit tired and phased by how everything has gone and probably need to think a bit more clearly.

asajj

As suggested, as long as you have a reason for the job changes, it is not as bad as you think. Many will understand as similar things keep happening to many other people. I think a bit of socialising would help you think more positive and clearly. Not sure which area you live in but a lot of locations have free events especially during the summer. We only live once.I hope everything will be better soon.

Wookey

Why not try a bit of weekend/evening bar work in a local pub or club, it gets you out in a social environment whilst getting paid at the same time, extra money that can go on anything you need it for. Meanwhile keep searching for other jobs and should something turn up before your current job ends then jump ship.