so how will you cope if the worst happens?
Discussion
there are quite a few doom and gloom threads about, and quite a few regular posters who seem to display a certain sense of joy in watching 'world fall apart at the seams' and take pleasure in the suffering of the 'feckless'.
i can only assume that you are well protected from all this though - ie your job / business (if self employed) is not likely to be affected, plenty of savings to see you through rainy days / months / decades (depending on your doom and gloom prediction). my guess is that's not the case. it seems any business large or small can go pop at a moments notice.
so if the worse does happen, how long could you survive with no income, and how quickly do you think you could get another job / start another business and get revenue?
only really interested in hearing from the doom mongers, but it's a free world so i'm sure there will be the usual tw@tish 'highly amusing' comments from the forum 'comedians' of selling kidneys / children etc etc to make ends meet...
i can only assume that you are well protected from all this though - ie your job / business (if self employed) is not likely to be affected, plenty of savings to see you through rainy days / months / decades (depending on your doom and gloom prediction). my guess is that's not the case. it seems any business large or small can go pop at a moments notice.
so if the worse does happen, how long could you survive with no income, and how quickly do you think you could get another job / start another business and get revenue?
only really interested in hearing from the doom mongers, but it's a free world so i'm sure there will be the usual tw@tish 'highly amusing' comments from the forum 'comedians' of selling kidneys / children etc etc to make ends meet...
Rob_T said:
...so if the worse does happen, how long could you survive with no income...
Isnt that what the benefit system is there for? A catch net to keep you alive while you get things sorted?I seem to hear plenty of stories about families that are well looked after by the state...
...Single british male, self employed, average weight and good health - oh, I qualify for jack s
t you say?! 
I seem to be missing the worst at the moment, but that could change. On a really basic level if we lost our job/savings/house we are in the fortunate position of being able to move into houses owned (outright) by parents. Obviously this is far from ideal, but we wouldnt be living on the streets queuing at soup kitchens.
Job wise, if either of us get made redundant we have insurance to cover income for 12 months (providing they don't wriggle out of it).
Job wise, if either of us get made redundant we have insurance to cover income for 12 months (providing they don't wriggle out of it).
Well, I was made redundant on Monday, the day after my 40th 
I spent the rest of the day re-organising my morgage repayments, ISAS, broadband, doing all the little jobs I'd been putting off that would save money or restructure my outgoings, turning off unused plugs, unplugging stuff from multi plugs.. stupid little things like that...
Then yesterday we were all told that they had found a buyer so we can have our old jobs back.
Today I'll be plugging unwanted stuff back in
I spent the rest of the day re-organising my morgage repayments, ISAS, broadband, doing all the little jobs I'd been putting off that would save money or restructure my outgoings, turning off unused plugs, unplugging stuff from multi plugs.. stupid little things like that...
Then yesterday we were all told that they had found a buyer so we can have our old jobs back.
Today I'll be plugging unwanted stuff back in
I think that some people feel that menial work or manual labour is beneath them. I'm educuated to degree level and hold down a decent job with good pay (things have looked better - I'm in the UK Auto Industry).
But, to ensure my family are fed and my mortgage is payed I wouldn't have a problem with undertaking some grotty work to keep money rolling in. I've done some cruddy jobs as a student to ensure I kept in the black. I think most of it is mindset, some people are too pampered and think society owes them a living.
Benefits would be the last option, even though I appreciate I have paid in without taking out for many years.
But, to ensure my family are fed and my mortgage is payed I wouldn't have a problem with undertaking some grotty work to keep money rolling in. I've done some cruddy jobs as a student to ensure I kept in the black. I think most of it is mindset, some people are too pampered and think society owes them a living.
Benefits would be the last option, even though I appreciate I have paid in without taking out for many years.
Edited by FWDRacer on Wednesday 25th February 09:47
Rawwr said:
I'd use my last pay cheque to buy everything in the Adidas 2009 summer collection and then spend the next 10 years on benefits.
I am no economist, but I think this is probably part of the problem at the moment.
I have always tried to have 6 months money (without any lifestyle change) in the bank in case of no work. I am a contractor - so this is probably wise. I am now at 1 years money in the bank. If the Mrs can hold onto her job then we can last 1 year before it is squeaky bum time. If she is not working then halve that time.
I am now trying to get 2 years money in the bank, so that if she is not working we will have a years money. If neither found work in 6 months, then I would jump ship and earn beer money somewhere nice and warm!
That is a lot of money that I would normally be spending on stuff that I am not prepared to fork out on at the moment. Don't get me wrong, still having holidays, still socializing, but not prepared to fork out for new cars, or motorbikes yet. I am sure there are a load of people like me out there, that are effectively stockpiling money for fear of future.
Once there is light at the end of the tunnel, then the decision is whether to spend those savings on the things we want, or chop it into the mortgage, or keep as savings.
Didn't the advice used to be 3 months money in savings?
Hedders said:
crofty1984 said:
If everything goes tits up, I'll move back in with the folks, get my old job back at the Co-op and work at building my life back up. Simple.
If everything goes tits up, you won't be able to get your old job back!Fats25 said:
Rawwr said:
I'd use my last pay cheque to buy everything in the Adidas 2009 summer collection and then spend the next 10 years on benefits.
I am no economist, but I think this is probably part of the problem at the moment.
I have always tried to have 6 months money (without any lifestyle change) in the bank in case of no work. I am a contractor - so this is probably wise. I am now at 1 years money in the bank. If the Mrs can hold onto her job then we can last 1 year before it is squeaky bum time. If she is not working then halve that time.
I am now trying to get 2 years money in the bank, so that if she is not working we will have a years money. If neither found work in 6 months, then I would jump ship and earn beer money somewhere nice and warm!
That is a lot of money that I would normally be spending on stuff that I am not prepared to fork out on at the moment. Don't get me wrong, still having holidays, still socializing, but not prepared to fork out for new cars, or motorbikes yet. I am sure there are a load of people like me out there, that are effectively stockpiling money for fear of future.
Once there is light at the end of the tunnel, then the decision is whether to spend those savings on the things we want, or chop it into the mortgage, or keep as savings.
Didn't the advice used to be 3 months money in savings?
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