What Would You Do?

iVillage Member
Registered: 01-23-2007
What Would You Do?
8
Sat, 04-18-2009 - 5:14pm

DH just found out this week that his position will not exist next year. This isn't as bad as it sounds because he'll get paid until the end of August and has some time to find another position. There is also the chance that they'll rescind this and he'll keep his job, but we're not holding our breath.


My question for you all is: We have about $8000 in CC debt that I'm really hoping to pay off this summer, or I could start snowflaking less and put more into savings


iVillage Member
Registered: 11-17-2007
In reply to: dmh66
Sat, 04-18-2009 - 5:48pm

Dee


Ok this will sound silly to you maybe. I would clear out a place in the garage or somewhere and start stocking up on food

iVillage Member
Registered: 03-28-2008
In reply to: dmh66
Sat, 04-18-2009 - 8:19pm

I agree with Mary Ann.

iVillage Member
Registered: 12-29-2008
In reply to: dmh66
Sat, 04-18-2009 - 11:53pm

Hi Dee,


You need

iVillage Member
Registered: 01-23-2007
In reply to: dmh66
Sun, 04-19-2009 - 7:19am

Thank you all for your advice!

We will start stocking up right away as well as signing up for a fuel club where we get a reduced rate on heating oil because they buy for hundreds of people (costs $40, but saved us hundreds this year). We also have a supplemental heat source and have heat figured out for next year pretty well. We always do a garden and were planning on crops that we would be able to can and freeze as opposed to some years where it's all "eat it now".

DH is a teacher and got out about 10 applications since he found out on Thursday, but positions are already being interviewed for and filled. They really should have let these guys know sooner, but I do know how lucky we are to have time to figure things out.

I'll let you know how things go. Jax: good luck to you and your DH. I hope he doesn't have to travel too far. Maryann: I am so sorry about your medical bills, but happy to see you back on the board. You were missed!

Dee


iVillage Member
Registered: 04-12-2007
In reply to: dmh66
Sun, 04-19-2009 - 11:45am

Dee,


If it was me, I would pay off the $8k this summer as planned.

iVillage Member
Registered: 04-10-2003
In reply to: dmh66
Sun, 04-19-2009 - 1:21pm
I agree with PP's. Try living on your reduced salary and see how it goes. Its like a trial run so when the time comes you know exactly where you stand! Stockpiling is always a good thing too! I am a BIG fan of that! I have enough TP to last about 2 months, lol. But its much better then paying full price for it!

Bex -


"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."


Bex -

iVillage Member
Registered: 08-04-2008
In reply to: dmh66
Sun, 04-19-2009 - 8:17pm

I would not worry as much about the debt as your DH getting a good job he will love.




iVillage Member
Registered: 01-25-2006
In reply to: dmh66
Sun, 04-19-2009 - 10:06pm

Hey Dee,
I would probably not snowflake and put everything you can into savings unless your interest rate is very high. That several thousand dollars could be the difference between a house payment for a few months and foreclosure. It would take a lot of interest to convince me that would be worth the risk. I'm not nearly as debt averse as others though.

I wanted to also throw out here that I would consider having DH start signing up as a substitute in as many districts as he can reasonably drive to right away, if not now, as soon as the school year ends. Depending on what he teaches or feels he can successfully teach, he could even start networking with some teachers to compile a list of folks he could notify in the fall if he doesn't land a full time slot so they can request him as a sub. Good subs were pure gold for me when I taught and you can count on the fact that I requested the ones I wanted back. I taught music and if he feels at all comfortable doing music, a good music sub won't stay home many days of the year. I subbed when I was unemployed in 2001-02 and although it wasn't the most fun I ever had, it did help keep the lights on.

Peg