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Act Now...as redundancy looms

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  • So the day has finally arrived
    OH told today at 9am her job was morphing.
    At the moment she is part time - 25 hours a week, working in one store - if she is successful in applying for her own job it will be 36.5 hours covering 6 stores!
    Alternatively she can take £16k redundancy.

    Childcare is a massive thing for us, she would barely see the kids working fulltime - and the amount of commuting too.

    Redundancy would cover the mortgage for just under 2 years.

    What the hell should we do?
    Mortgage: 01/02/14 - £108k
    Mortgage: Current - £97k
    Mission: MF by 50
  • edinburgher
    edinburgher Posts: 14,497 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    It might be worth calculating her actual earnings after you take the increased commuting time into account? I know that none of us are paid to commute, but if it's a significant increase, that will have a non-trivial impact on her ability to enjoy life and see her family.

    If she is made redundant, how long could you make the £16k last? She'd get some sort of unemployment benefits as well.

    I think the way you've framed the problem, you believe the outcome will be that she accepts redundancy?
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