A house of cards - help

Squiffy

Snowball calculator? I haven't heard of that one!

Just got some bad news this morning. A job I had an interview for last week and which I was absolutely convinced I'd got... I didn't get.

Oh well. Redundancy at the end of the month looms that little bit closer now.

Letter sent off to investment trust company today. Fingers crossed there will be a major, major stock market boom between them getting my letter and actually closing it down. :cool:

krisskross

Hiya and well done for addressing your problems.
Just wondered as your wife is a nurse if she could just do night shifts for a while so you do the child care and save on childcare costs.
I was a nurse until retirement and could clear £100 per extra night shift......did 21 of them to pay for a holiday!
Good luck my friend....you and your wife will make it i am sure.

LearningToSave.

awwwwww sorry to hear about the job :-(
here is link for the snowball calculator http://www.whatsthecost.com/snowball.aspx basicaly if you input your debts,interest rates etc and how much you can afford it tells you who to pay,how much,when and in what order.....so you get your debt free date....sorry im not explaining very well but have a look and it will show you......i honestly found it excellent and its really got me spurred on and i showed hubby and it had the same effect.now we are constantly playing around with it and working out how to reduce the time until our debt free date-its addictive but in a good way.

meanmachine_2

Squiffy wrote:

Snowball calculator? I haven't heard of that one!

Just got some bad news this morning. A job I had an interview for last week and which I was absolutely convinced I'd got... I didn't get.

Oh well. Redundancy at the end of the month looms that little bit closer now.

Letter sent off to investment trust company today. Fingers crossed there will be a major, major stock market boom between them getting my letter and actually closing it down. :cool:

Sorry about that bit of bad news. But think how you would have been panicking had you not taken matters into hand!

At least you feel you're getting on top of things now - which will help your demeanour and confidence at future interviews. Good luck.

And it sounds to me like your wife might have had an inkling that things weren't right in the Squiffy household, so would have been preparing her response. Women are canny creatures, you know.

Squiffy

Well, including the cash from the investment trust we'll be debt free in 65 months, paying £8,629 in interest over that period.

We should be able to accelerate that when my wife can work longer / nursery fees be reduced.

And if / when I receive annual bonuses at work obviously we can put that towards the debts too.

Now all I need is a job if I do get made redundant.

Squiffy

And..... got my formal notice of redundancy today.

Effective date 13th September, redundancy payment £10,800.

What do do? Do I continue to make payments and use the assets we are selling to reduce debt outstanding, or do I hold it back ready to make an offer when my redundancy has been completed?

Lucie_2

Squiffy.
Sorry to hear that. But, now you know for certain & are not left hanging around waiting. At least you can get on with your life (That may not seem like a real comfort at the minute, but it still allows you to make definite plans). It's the not knowing I always find is the worst.

zAndy1.
Have you been over to the moneysaving old style board? Loads of tips on there for reducing your weekly shopping bill & still eating well.

zAndy1

Sorry to hear about the redundancy notice mate, hope everything works out for you and you get another job soon...

Cheers,
Andy.

Highland_Doll

Sorry to hear about your redundancy hon, it's very tough, I know, my hubby and I experienced it 4 years ago. He went from a 30 Grand a year job to nothing in the space of 1 month. He had been there 10 years and had gone through many promotions in that time. He worked his socks off and felt dreadful when he felt he had 'lost it all' etc.

But hang in there, every cloud has a silver lining! I found my hubby another job, even better than the one he was made redundant from and he is a higher rate tax payer now! We have a very comfortable life, I stay home and play wifey and he loves his job. He was made redundant at the age of 38 which is a bad age for a guy to feel he has lost everything. But he made it, we made it and so will you! Can't say it wasn't hard during the months of unemployment but I cut back on what I spent (I look after the money) and paid off any debts with the redundancy money. I then worked my !!!!!! off on Ebay making on average £200 a week, so we got by with very little loss of standard of living. The main loss was to his confidence. Seek support from your wife like he did with me, pull together and look on it as a new start.

All hard times make you stronger and as a couple, stronger. You are fortunate in the fact that you have a wife earning a salary, so keep your spirits up, be confident and you will all be fine.

Take care :grouphug:

DrStep

Sorry to hear.To draw a positive, unemployment rates are still the lowest for years-the statistics are on your side.