DH just lost his job - any temporary cost-cutting tips?

[Anonymous]

call the mortgage company. they will allow you to miss up to 4 months payments when unemployed. You will have to make up the payments as a lump sum when the time is up.

get ready to rent out your home and move out

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey OP, no additional suggestions, just wanted to say sorry. I got laid off last spring and it sucks. Not sure what industry he is in, but 4 months may be optimistic. You should definitely plan for longer, just in case. I don't think people who haven't been out of work don't realize how crappy the job market is and how much competition there is for every single job.

My husband and I have both been through this, as have two of my siblings. Even if he seems ok, it will be a real blow to his confidence and his ego. Be kind to him and to yourself.

Thanks! We were through this once before a few years ago when the market was worse and he was out for approx 4 months, so I am just going by that. He is a very aggressive networker so that is very helpful. He also already has an interview set up through a recruiter. We are waiting to hear exactly what the severance package is (hopefully its at least a couple months).

Its terrible blow to his ego bc it was super unexpected. The office was really slow lately and he is probably the highest paid (and slightly overqualified) in his particular position. Thats our only guess as to why he was let go while others were kept, even though there were a few others laid off at the same time. He was just really happy there and it was completely unexpected. We were actually just talking about his bonus

I told him to just take care of himself and find himself another job and I would handle all the budget and household type things. I wish there was some way to make it better for him bc he was so optimistic and excited about the job (had been there approx 2 years).

I have no idea what industry he is in - but to expect a few months severance with 2 years tenure may not be realistic. I worked for a large consulting firm a few years ago and was a part of a downsizing - I got 2 weeks for each year.

He works in finance. They said something about being on the payroll to February - so I dont know if its a month or through Feb and its there is severance in addition to that. He should be finding out today, just hasnt called me yet.

This is a little vague - which I get. (Corp Fin vs Private Equity vs Op buds vs General analytics)... but my firm is hiring... Depending of his expected income/level, there may be a role. If you are willing to get me a resume, I'll be happy to look / get it in front of the right folks. If you have a throwaway gmail email address post it here and I'll reply.

[Anonymous]

Are there any opportunities for your DH to freelance while he looks for a new job? My DH was laid off due to his company shutting down in 2009 and was able to find freelance work while he was job searching. He ended up with so much work that he has worked for himself ever since 2009 and has no interest in finding a job (I carry the benefits). But he is in a field where freelancing is pretty common so I know that doesn't work for everyone.

[Anonymous]

Just keep your (and your husband's) spirits up and try not to get discouraged - although there will be days that you will feel that way. I was out of work for 5 months several years ago. It can be a lot like planting a garden - nothing for a while and then chutes start coming up with hopefully several choices around the same time.

[Anonymous]

The bottom line is to not spend money unless absolutely necessary. Period. Mortgage, utilities, basic food and bills are necessary. Stay out of the mall and target. Plan all meals, and scale back. Skip the beauty salon until he gets a new job. Buy cheap shampoo, etc and pass on beauty products (expensive). Keep heat set very low. Only run full loads of laundry, wash on cold. Only run the dishwasher if it's full. No eating out, no Starbucks, no delivery. Plan your errands to minimize gas usage. Unplug everything unless you are actually using it. Keep lights off unless necessary. Eggs are a cheap source of protein. The only drinks you should have are water and milk. Don't waste money on alcohol, wine or cigarettes. Write down everything you spend. Best of luck to you.

[Anonymous]

I'm not the OP but we are in the same situation (reversed- I'm out of a job after 7 years- DH has a job hopefully until I find another one- unstable industry)- we have cut cable (don't miss it and use netflix, redbox), we used to go out to eat- now don't, I am back on the helm and plan meals etc., I am looking into other insurance options to see if we can trim auto and home owners though when I did this 7 years ago I got it reduced by 60% and this major company quote was significantly lower than other quotes). I also moved us to a bank that actually pays an interest rate (we had B of A before and I remember we got so little that we couldn't even get a 1099-INT). I appreciate this thread since it's extremely helpful- please keep them going!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey OP, no additional suggestions, just wanted to say sorry. I got laid off last spring and it sucks. Not sure what industry he is in, but 4 months may be optimistic. You should definitely plan for longer, just in case. I don't think people who haven't been out of work don't realize how crappy the job market is and how much competition there is for every single job.

My husband and I have both been through this, as have two of my siblings. Even if he seems ok, it will be a real blow to his confidence and his ego. Be kind to him and to yourself.

Thanks! We were through this once before a few years ago when the market was worse and he was out for approx 4 months, so I am just going by that. He is a very aggressive networker so that is very helpful. He also already has an interview set up through a recruiter. We are waiting to hear exactly what the severance package is (hopefully its at least a couple months).

Its terrible blow to his ego bc it was super unexpected. The office was really slow lately and he is probably the highest paid (and slightly overqualified) in his particular position. Thats our only guess as to why he was let go while others were kept, even though there were a few others laid off at the same time. He was just really happy there and it was completely unexpected. We were actually just talking about his bonus

I told him to just take care of himself and find himself another job and I would handle all the budget and household type things. I wish there was some way to make it better for him bc he was so optimistic and excited about the job (had been there approx 2 years).

I have no idea what industry he is in - but to expect a few months severance with 2 years tenure may not be realistic. I worked for a large consulting firm a few years ago and was a part of a downsizing - I got 2 weeks for each year.

He works in finance. They said something about being on the payroll to February - so I dont know if its a month or through Feb and its there is severance in addition to that. He should be finding out today, just hasnt called me yet.

This is a little vague - which I get. (Corp Fin vs Private Equity vs Op buds vs General analytics)... but my firm is hiring... Depending of his expected income/level, there may be a role. If you are willing to get me a resume, I'll be happy to look / get it in front of the right folks. If you have a throwaway gmail email address post it here and I'll reply.

Thanks, use [e-mail].

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Hey OP, no additional suggestions, just wanted to say sorry. I got laid off last spring and it sucks. Not sure what industry he is in, but 4 months may be optimistic. You should definitely plan for longer, just in case. I don't think people who haven't been out of work don't realize how crappy the job market is and how much competition there is for every single job.

My husband and I have both been through this, as have two of my siblings. Even if he seems ok, it will be a real blow to his confidence and his ego. Be kind to him and to yourself.

Thanks! We were through this once before a few years ago when the market was worse and he was out for approx 4 months, so I am just going by that. He is a very aggressive networker so that is very helpful. He also already has an interview set up through a recruiter. We are waiting to hear exactly what the severance package is (hopefully its at least a couple months).

Its terrible blow to his ego bc it was super unexpected. The office was really slow lately and he is probably the highest paid (and slightly overqualified) in his particular position. Thats our only guess as to why he was let go while others were kept, even though there were a few others laid off at the same time. He was just really happy there and it was completely unexpected. We were actually just talking about his bonus

I told him to just take care of himself and find himself another job and I would handle all the budget and household type things. I wish there was some way to make it better for him bc he was so optimistic and excited about the job (had been there approx 2 years).

I have no idea what industry he is in - but to expect a few months severance with 2 years tenure may not be realistic. I worked for a large consulting firm a few years ago and was a part of a downsizing - I got 2 weeks for each year.

He works in finance. They said something about being on the payroll to February - so I dont know if its a month or through Feb and its there is severance in addition to that. He should be finding out today, just hasnt called me yet.

This is a little vague - which I get. (Corp Fin vs Private Equity vs Op buds vs General analytics)... but my firm is hiring... Depending of his expected income/level, there may be a role. If you are willing to get me a resume, I'll be happy to look / get it in front of the right folks. If you have a throwaway gmail email address post it here and I'll reply.

Thanks, use [e-mail].

Email sent. Let me know if I can be of help. Have friends at various firms I'm happy to introduce / broker via linked in etc.

[Anonymous]

Email sent. Let me know if I can be of help. Have friends at various firms I'm happy to introduce / broker via linked in etc.

Don't have anything to add, but just want to say that it is so re-freshing to see someone helping out a stranger like this.

[Anonymous]

Anonymous wrote:[

/quote]

Email sent. Let me know if I can be of help. Have friends at various firms I'm happy to introduce / broker via linked in etc.

Don't have anything to add, but just want to say that it is so re-freshing to see someone helping out a stranger like this.

OP here -

This was one of the nicest things someone has done for us. DCUM at its best!

[Anonymous]

Just wanted to say sorry you are going through this. My husband lost his job last March and is still out of work. One of the first things I did was to contact cable, phone, cell phone, other utility providers and find out how to lower my bill. We have to pay for trash pick up and all I did was tell them I was going to switch to another company and they cut my bill in half to keep me. We also stopped eating out, try to drive our more energy-efficient car more often, cancelled childcare, cut back charitable giving, stopped going out and hanging out in malls and other stores - only go for specific things on the list, grocery shop mostly stuff on sale, etc. as others have suggested. When I make meals, I often make a double recipe and freeze half for later. I hope it all works out for you. I'm surprised to still be hanging on this long. When I first learned about his layoff, I was in a straight up panic, but we have managed okay so far.