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not sure what to do...

March 4th, 2010 at 06:37 pm

Things have dramatically slowed down at hubby's job. They say if they don't get busier than they are thinking to lay off everyone at the quarry except for the foreman. That is definitly not good news for us. I don't make nearly enough to support us as hubby made 3x as much as I do. The last two weeks he has only gotten 32 hrs., which isn't bad and I would be happy if they kept him on even if they reduced hours because it will be next to imppossible to find a new one. My father-in-law does the same exact thing as hubby and he got laid off a year ago and still hasn't found a new job. Also all of hubby's friends and old co-workers who do the same type of work have already been laid off with no luck of finding a new job. On top of all this, the news reportedd the other night that there will no longer be any extensions on unemployment in NV, and instead of 20 wks. of pay, you will now only get 13 wks. They have not told him definitly what will happen, but it sounds like their preparing him to be laid off. Were not sure what we should do. Should we stay here and try to save our home and use up our savings to get by, or should we say good-bye to the house and pack it all up and stay with my mom? At least that way we can keep our savings to help us get back on our feet when things start to get better. It's hard to think of saving this house when we owe twice as much as it's worth and even if we use all of our savings it's only temporary because as soon as that runs out, then we will still have to leave it. It's tough thinking that we've made it through so much of this recession to now have hubby lose his job! In the mean time I will pray for the best and hope it all works out for the best.

Posted in Personal Finance | 5 Comments »

5 Responses to “not sure what to do...”

  1. carterfinance711 Says:
    March 4th, 2010 at 07:22 pm 1267730532
    1267730532

    That sounds like a tough situation. Frown I would suggest he starts applying at any job out there..That way if he does get laid off he will have a head start. Try all the different job search websites and once he applies he needs to keep calling until he gets interviews. I'm sure it will be tough but it doesn't hurt to try. Hopefully he doesn't get laid off, but if he does, you will need a plan. If you more out, are you planning on selling the house?

  2. whitestripe Says:
    March 4th, 2010 at 07:38 pm 1267731486
    1267731486

    how long does he have to drive to work now, and could he work further away than he does now? sometimes it helps to look in neighbouring towns for work.

  3. creditcardfree Says:
    March 5th, 2010 at 12:05 am 1267747511
    1267747511

    It's also important to consider employment in other fields, as many skills are transferable. You might call a realtor abut pricing your home and giving you some numbers about recent home sales. This might give you a better idea about where you would be if you did sell your home.

    Save all the cash you can, make minimum payments on debt, sell anything you can for cash. Research jobs, update both of your resumes, both of you can be looking for better and additional employment.

    Is your Mom in the same town?

  4. Jerry Says:
    March 5th, 2010 at 11:58 am 1267790300
    1267790300

    What a stressful and scary thing, hopefully things will pick up and lead to a better situation soon. Nobody wants to lose work in this economy, but I think that creditcardfree has a good point... the best insurance is to diversify in job skills, and to look in all sorts of areas if the time comes. I wish you and your family well.
    Jerry

  5. Homebody Says:
    March 6th, 2010 at 01:26 pm 1267881973
    1267881973

    Mmmm, my daughters live in Nevada and one is looking for a job. She lost $100,000 in equity on her home which includes the $50,000 she put down. She has been looking out of state for jobs. Her SO is an electrician and he only works intermittently.

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