How are you managing the 'Crunch'
Discussion
How are the people here on Pistonheads managing the credit crunch?
I saw it coming a mile off in my industry so handed in my notice and left my job in the construction industry and started a course at University in September (glad I did now). Moneys a little tight at the moment, especially as the wife works self employed (though not as bad as we thought). Things are good however as we are now living in a little place in the west country (inlaws annexe) and hopefully in two years I'll come out with a good qualification and find some decent work again.
How are the rest of you coping? anyone else decided upon a big change, or are you doing well because of the crunch (heard some people are better off now), or are you struggling a little?
Would be interesting to know! (though I know us Brits dont really like to talk about it)
I saw it coming a mile off in my industry so handed in my notice and left my job in the construction industry and started a course at University in September (glad I did now). Moneys a little tight at the moment, especially as the wife works self employed (though not as bad as we thought). Things are good however as we are now living in a little place in the west country (inlaws annexe) and hopefully in two years I'll come out with a good qualification and find some decent work again.
How are the rest of you coping? anyone else decided upon a big change, or are you doing well because of the crunch (heard some people are better off now), or are you struggling a little?
Would be interesting to know! (though I know us Brits dont really like to talk about it)
Edited by MonkeyMatt on Monday 16th February 20:42
I resigned from my job on the road in July last year after finding local work for a small company. By December the crunch had kicked in hard (office water coolers) and I was laid off.
I am very, very nearly skint.
Fortunately I have had two interviews with another local company and I hope to have my new job confirmed on Monday next week.
I am very, very nearly skint.
Fortunately I have had two interviews with another local company and I hope to have my new job confirmed on Monday next week.
I'm being made redundant in 2 weeks and my wife is already a full time student. I too am starting University in September which was the plan all along. My redundancy money should pay the mortgage till I start and then we should be ok. Bit tight over the next few nmonths but we'll manage.. 
10 Pence Short said:
I resigned from my job on the road in July last year after finding local work for a small company. By December the crunch had kicked in hard (office water coolers) and I was laid off.
I am very, very nearly skint.
Fortunately I have had two interviews with another local company and I hope to have my new job confirmed on Monday next week.
Good luck with that! let us know how you get on.I am very, very nearly skint.
Fortunately I have had two interviews with another local company and I hope to have my new job confirmed on Monday next week.
Silent_Assassin said:
I'm being made redundant in 2 weeks and my wife is already a full time student. I too am starting University in September which was the plan all along. My redundancy money should pay the mortgage till I start and then we should be ok. Bit tight over the next few nmonths but we'll manage..
Ive heard a few people are going back into education.I have got just a few months left before I graduate (hopefully), but luckily I will be graduating into a career that seems more secure than a lot (dentistry).
I am currently trying to work out whether to replace the MX5 with a sensible car and a kit car or a sensible car and a motorbike (or stretching things and getting all three). But I wouldnt easily be able to make that choice if I wasnt planning on moving home for the year to save money.
As I am planning on moving home, thinks look quite good for me as it means I will have more space than I currently do, a large garage and workshop, a visiting part time mechanic, and 180 acres to play on!
what crunch
I am currently trying to work out whether to replace the MX5 with a sensible car and a kit car or a sensible car and a motorbike (or stretching things and getting all three). But I wouldnt easily be able to make that choice if I wasnt planning on moving home for the year to save money.
As I am planning on moving home, thinks look quite good for me as it means I will have more space than I currently do, a large garage and workshop, a visiting part time mechanic, and 180 acres to play on!
what crunch
MonkeyMatt said:
How are the rest of you coping? anyone else decided upon a big change, or are you doing well because of the crunch (heard some people are better off now), or are you struggling a little?
I turned down a contract extension to concentrate on running for a while. Fortunately I've put a fair amount by in the years of plenty so that I'm not too concerned by minimal or no income for a while (if only our "prudent" Chancellor/PM had done the same
). Currently compromised on 20hrs work a week (5 half days) and 90+ miles of running a week. That means that at least I'm earning between my training sessions.Edited by ewenm on Monday 16th February 19:37
ewenm said:
I turned down a contract extension to concentrate on running for a while. Fortunately I've put a fair amount by in the years of plenty so that I'm not too concerned by minimal or no income for a while (if only our "prudent" Chancellor/PM had done the same). Currently compromised on 20hrs work a week (5 half days) and 90+ miles of running a week. That means that at least I'm earning between my training sessions.
You sound sorted!). Currently compromised on 20hrs work a week (5 half days) and 90+ miles of running a week. That means that at least I'm earning between my training sessions.Edited by ewenm on Monday 16th February 19:37
I dont think you're alone in thinking Gordo would have been well advised to be as prudent as you.
Currently working part time - in my spare time I'm developing an idea into a design with a view to having it protected. And ultimately, once it's fully formed, I'd like to chase one or two exclusive/non exclusive licenses. Also
considering returning to education in order to get to grips with 3D modelling.
But apart from that, tightening the belt, putting the plans for a different car on hold - just in case.
considering returning to education in order to get to grips with 3D modelling.
But apart from that, tightening the belt, putting the plans for a different car on hold - just in case.
I was made redundant in mid-September & despite lots of interviews, sending CV off several times a day etc I haven't found another position yet. Redundancy terms with previous employer were fairly generous so the family and I will manage for a while yet fortunately.
Not nice when you've got a 1yr old kid though, and a wife on extended maternity leave.
Not nice when you've got a 1yr old kid though, and a wife on extended maternity leave.
Good and bad...
I'm just about to finish paying off my motorbike finance so will have more free cash.
I've survived 2 rounds of redundancies so far - now in 90 day consultation... however think it is unlikely that i'll be affected because our department has already gone from 5, to 2 and we're swamped. That brings more responsibility and experience, often learning the hard way.
My partner and I are both ready to move on to our next jobs. But there are less jobs out there which will make it hard for us to find new jobs in the same place at the same time. Our careers are important so we have to get the right positions. That said we've both got good experience so hope to be quite employable.
The uncertainty is the worst bit.
I'm just about to finish paying off my motorbike finance so will have more free cash.
I've survived 2 rounds of redundancies so far - now in 90 day consultation... however think it is unlikely that i'll be affected because our department has already gone from 5, to 2 and we're swamped. That brings more responsibility and experience, often learning the hard way.
My partner and I are both ready to move on to our next jobs. But there are less jobs out there which will make it hard for us to find new jobs in the same place at the same time. Our careers are important so we have to get the right positions. That said we've both got good experience so hope to be quite employable.
The uncertainty is the worst bit.
I am just intending to sit back and see it out.
We stayed small (work from home ; few overheads) and put away reserves when the business was doing well, enough to see us through 2 or 3 years if we didn't go silly, and although I hate to eat into those reserves as it was also our retirement pot, I am using the quiet time to develop products for the other side. I have just licensed a new product and got the licencee to agree a minimum royalty for 3 years which will make sure that there is some money coming in. Normally I would have preferred a larger royalty with no guarantee but these are unusual times. Every month we make enough money not to have use up our reserves is one closer( we hope).
I am thinking that the recession will de-skill some of our larger competitors as they lay off staff who won't easily be able to pick up where they left off because they are shedding trainees' jobs. I think it will force some of the small independents in our market who can afford to retire to do so, leaving the market place more open when all this lot ends.
MonkeyMatt said:
How are the people here on Pistonheads managing the credit crunch?
I saw it coming a mile off in my industry so handed in my notice and left my job in the construction industry and started a course at University in September (glad I did now). Moneys a little tight at the moment, especially as the wife works self employed (though not as bad as we thought). Things are good however as we are now living in a little place in the west country (inlaws annexe) and hopefully in two years I'll come out with a good qualification and find some descent work again.
How are the rest of you coping? anyone else decided upon a big change, or are you doing well because of the crunch (heard some people are better off now), or are you struggling a little?
Would be interesting to know! (though I know us Brits dont really like to talk about it)
I bought a house cos I wanted a decent shower.I saw it coming a mile off in my industry so handed in my notice and left my job in the construction industry and started a course at University in September (glad I did now). Moneys a little tight at the moment, especially as the wife works self employed (though not as bad as we thought). Things are good however as we are now living in a little place in the west country (inlaws annexe) and hopefully in two years I'll come out with a good qualification and find some descent work again.
How are the rest of you coping? anyone else decided upon a big change, or are you doing well because of the crunch (heard some people are better off now), or are you struggling a little?
Would be interesting to know! (though I know us Brits dont really like to talk about it)
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