I know many of you comment on this blog, and still more do not. But this time, I'm asking you all to come out of hiding and let me know your thoughts. Due to the current economy, I know things are a little uncertain for a lot of people. I keep hearing speculation that the current situation may well end up worse than the Depression, and that's just beyond scary.
1. How has the economic downturn affected you?
2. Do you worry about your job status?
3. What advice would you give to those who have already been affected or expect to be?
For me:
I haven't really been affected yet - our situation has been tight for some time, and we've learned how to work with it as well as possible. More and more, I worry what would happen if I lost my job, because it's currently our sole income. It's possible I worry too much, but I know too many people who have been or are at risk of being laid off. I don't have any advice, though. All I can do is keep those who are struggling in my thoughts and hope for the best.
About Me
- Jen
- I’m enjoying my life one day at a time, and learning to find inspiration in whatever comes my way. I am constantly searching for my passion in life, but in the meantime, loving every direction it takes me.
14 comments:
I got laid off a few months ago, and like you had the only income in our family. I lost my job before things got *really* crazy with the economy and I took for granted how difficult it would be to find a new job. In the past, I've never had a problem finding a new job and have actually switched jobs just to try something new. I had an inkling about the lay off, but wasn't very proactive about finding a new job in the meantime.
I'd just advise you to save as much money as possible. It sounds like a no-brainer, but at least for us, we don't save as much as we should unless we really put our minds to it. I'd also sign up for job alerts through a career website so that you're aware of what openings are in the market.
After a longer than I had hoped for job search, I'm in a new job that I love, but had to take a significant pay cut for it. Best of luck to everyone out there!!
Luckily hubs job is totally secure, he's a detective. My job I think is pretty secure, but nothing is absolute. I brushed up my resume anyway just in case. We're socking money away just in case. I pray to goodness nothing bad happens to us.
1. KNOCK ON WOOD but it really hasn't affected us. Since I work in health care at a hospital, I think the only major possibility will be that some people might put off an elective surgery a little bit longer if money is tight. Or maybe if more people are unemployed and therefore do not have health insurance, the hospital might not get paid for our services. I'm not saying I'm invincible, but it's just that my career is probably more stable than some of the business careers out there.
2. Honestly, I'm not too worried. People will always get sick and especially with the baby boomer population aging, I will likely always have a job as a Physical Therapist in some way. And you know our household is like yours and Sharons....I'm the sole income, so of course I like to worry myself silly about it. But I know I could find another job if my hospital went under for some reason.
3. Advice? Save as much money as you can fathom, and then try to save more than that. I really think our generation gets so caught up in material possessions that we shoot ourselves in the foot with planning for our futures. Who cares if you have a brand new car, 60 inch flat screen TV, and the trendiest wardrobe around? If you don't have an emergency savings account you could be totally screwed. We try to live as simply as we can to save money even though it's hard.
Great post, Jen. How's the non-smoking coming??
Great post!
1. My hubby has been informed he will lose his job before the end of the year as they are outsourcing to the Philippines. I'm finishing my bachelor's in education to become a teacher and so far the economy hasn't severely affected this market. Yet.
2. Since I'm student teaching, I don't really have a job. I hope to be teaching in my own classroom next year.
3. Advice? Hmmm... Save when you can and be prepared for the worst. Since I haven't really been in the job market and am still new at this "adult" thing, I don't have much for you. Sorry!
I do look forward to everyone else's comments, though!
1. How has the economic downturn affected you? I'm just graduating from law school in May. I am lucky enough to have already accepted a job offer but I can't help but worry that it may be rescinded. I know them making the job offer in the first place took several additional steps (and months) due to the economy. While for most of my fellow law students they are graduating at what might possibly be the worst time in US history, many of us are lucky to have no idea what it's like to have an income! Unfortunately, we all have tons and tons of student loan debt coming due that will be more than many people's house payments. In one sentence - I worry, but I haven't been directly affected.
2. Do you worry about your job status? Absolutely!
3. What advice would you give to those who have already been affected or expect to be? It's a tough economy and it's not because of 'you.'
do i worry? hell freaking yes. I work for the state, and with the new governor i am definetly worried. He's mentioned making job cuts, but we are supposedly safe. Our agency is so tight on funding it's not funny. we are being told to RE-USE paperclips. that is how bad it is. :)
blake's been out of a job twice in the past year and it's hard. really hard, and we've taken on more debt bc of it. It sucks but we got through it!!!
Luckily, we have not been directly affected by the economy...yet. Both of our jobs are secure. Mine is more secure (as a teacher) but I am starting to get nervous about Mike's job. 5 people have been let go this month! Eek! We just are keeping our fingers crossed...
It hasn't directly affected us yet.
I don't worry about my job status, since I work for my family's business, and fortunately it is doing well. But this job was supposed to be temporary, and as I look for a job in my field, it is nerve racking.
I think the best thing we can all do is scrimp and save. You can always cut back. We look at our monthly expenditures, and always find areas we could have saved, and try to do better the next month. It's just always being aware of it.
I guess the only way it had affected us is that DH and i both work in companies that have suspended merit increases and just like the rest of the country, we could use them.
neither of us worry about our status. i'm not in a position that would save our company money if eliminated. DH's company would have to go under for him to lose his job which is HIGHLY unlikely.
I don't have a ton of advice but i posted a response on my blog.
http://thisgirltalksalot.blogspot.com/2009/02/will-our-current-situation-end-up-worse.html
1. I think that the economy has affected us. DH is a teacher, so I think that his job is secure. I'm working one day a week as a RN while I go back to school for an engineering degree. We're not eating out nearly as much, we put all our traveling on hold (our anniversary is in 2 weeks, and we cancelled our plans). Roughly a week ago, I received a phone call canceling my disability checks (I had a 4th major reconstruction on my right knee that doesn't allow me to work on my feet full time). And that effectively cut our income almost in half. We're still working on how we're going to adjust.
2. Neither of us are too worried about our jobs. The economy hasn't hit the education or health care fields yet. People are always going to get sick, and kids are always going to come to school. (At least for now)
3. My only advice would be to save save save. Put every penny back that you can, and then find ways to put back more. In times like these, material possessions aren't as important, especially if you're unsure of what tomorrow may bring. If you aren't concerned about your income/job/you have a trust fund, etc, by all means spend! It may put more money back into the economy! :)
Great post by the way. I love reading everyone's responses!
1. Not yet.
2. However, we received notice that there are state wide budget cuts. it's a good and a bad thing I work for a college. however, services to students will not be cut. That is where I work. DH is a teacher, for an elective/career ed class. the district could save the program or feel that it is not needed. who knows ever.
3. we've had Dave Ramesy's Financial Peace on our shelf for over a year and finally started to read it. We're cancelling our credit cards and using cash and our debt card for our purchase. i totally recommend reading Dave! he has been a life saver. we're on a better track now.
1. The downturn has HIGHLY affected me. I was one of ten survivors when the agency I worked for went down in flames and a new agency was created. I am lucky to have a job and an income, but I am in the worst possible place I could be right now and I hate getting out of bed everyday, knowing I have to come to this job. I need the paycheck, and I know I'm lucky to have one, but being part of a start up is scary, frustrating and something I never hope to do again unless the company is my own.
2. The company is very dependent on me, as we are small and everyone is crucial, but we are all also replaceable and I do worry about being let go, but not due to the financial situation. More just due to the fact that I hate being here and some days, it really shows.
3. Update your resume immediately and write a cover letter that can be easily adapted. If you have a portfolio, update that as well. Send your resume to family and friends and let them know you are looking for a position. You never know who knows someone that could use your talents. Be open to switching career paths and learning new things, because the more you know, the more indispensable you become. A job is a job - don't be too proud to work retail or manual labor to get by. Times are tough and we have to do what we can to survive. If that means working a part time job at Target to create savings, there is no shame in that.
1. How has the economic downturn affected you?
It hasn't affected us too much yet. I do find myself being a little more frugal than I already am.
2. Do you worry about your job status?
I think my job is pretty secure, but Jeff works for an ad agency, and they had a bunch of layoffs already. Definitely makes us nervous.
3. What advice would you give to those who have already been affected or expect to be?
SAVE, SAVE, SAVE. I agree with Julia that there is too much focus on material possessions in today's society. Financial security should be a priority in everyone's life.
1. How has the economic downturn affected you?
Yes and no. I have a secure job, I have continued to receive the same type of raises & bonuses that I have come to expect. But - before 2008 I was able to work and bill for as much overtime as I would like, now that is not the case. Every single hour of OT must be approved before hand...and if it's not and the work is still required to be done...I still have to do it. This seriously cut my income nearly $20,000 from 2007 to 2008.
I've also taken on a second job...but that's mostly due to life situations, not the economy, but if the OT wasn't an issue, I wouldn't have to work this job.
2. Do you worry about your job status?
Not really. Fortunately for me, asbestos law suits aren't going away anytime soon and I'm the most senior staff memeber in my department...so if there are cutbacks, I'd likely be the last to go.
3. What advice would you give to those who have already been affected or expect to be?
Save, save, and save. Don't eat out as often. Clip coupons/buy things that are on sale in bulk. And like Sarah said, don't be too proud. I've had a professional job for almost 9 years now...and I'm serving freaking beer and wings. I never thought I'd have to do it, and it sucks...but you gotta do what you gotta do, you know?
Post a Comment