Updated - How have you been hit by the economy? Have you lost your job or had your pay reduced?

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I lost my job a couple of weeks ago. I have been able to get some temp work at one of my former employers and got an OK severance package. Praying I find something more permanent soon. Thankfully, it’s just me that I have to support.
 
We haven’t really been effected yet, although DH works for a GM dealership so there’s a lot of uncertainty there.

However, the economy has hit my parents hard. My Dad had a heart attack in February and had quad. bypass surgery and a few weeks later he was notified by his company (of 35 years) that he was laid off. And since he is already on disability, he can’t qualify for unemployment until his doctor says he’s able to work again. So now they’ve lost his income and there’s talk of massive lay-off’s at my mom’s work. If she loses her job, they’re in big trouble. BIG trouble. And it’s sad because they’re in their mid 50’s and not in a place where it’s easy to just start over.

Money is tight right now, but we’d do whatever we could to help them out if she lost her job. But my biggest fear right now is DH and my mom both losing their jobs and none of us are able to help eachother out. That’s a scary thought.
 
No we are extremely blessed… and are even buying our first home.
 
Like the second poster - woman lost her job, and was the sole breadwinner. I agree that breadwinner / secondary income is more meaningful than man or woman. I also found a new job after just a couple of months, but lost 25% of income and have to pay benefits out of pocket now.

It’s not the end of the world, but I really wanted things to stabilize soon so I could have another baby. Now I have to wait until DH gets a job and we can pay off the debt from being out of work, etc. Still, we still have our home and haven’t missed a single payment. We came unnervingly close to it, though. Several times.
 
The economy was definitely a factor, in my situation. I didn’t “lose” my job, exactly. But I was more or less forced to quit… because we couldn’t afford the in-home caregiving agency, for my mother any longer. (I’m now sole caregiver; we have no other “involved” family).

As the cost of the in-home care continued to rise (about every 6 months, or so)… and my wages stayed THE SAME… I had to keep reducing my hours at work; until finally, it was apparent that we were spending far more money than I was bringing IN.

In the last 2 months, before I quit… I was treated very badly. I was stripped of all my benefits and company stock buying options. And the final blow, was when I was told that my wages would be cut… because I “wasn’t working enough hours”. I had been with the company for almost 8 years. And had a 100% record of good employee reviews… and ZERO absences. So… this treatment was a hard pill to swallow.

But I know, that so many of you have suffered worse. My prayers, are with you.
 
Actually, our company worldwide, has adopted a policy of taking days, weeks, one can even take up to a month off–without pay. It’s a volunteer program, to save jobs. I love this idea, and think it really can work. Disney does it too…my husband sometimes volunteers. If it saves just a few jobs, it’s worth it…👍

Praying for all those who have lost their jobs or have had to really make some adjustments with a reduction in pay.
 
whatevergirl said:
Actually, our company worldwide, has adopted a policy of taking days, weeks, one can even take up to a month off–without pay. It’s a volunteer program, to save jobs. I love this idea, and think it really can work. Disney does it too…my husband sometimes volunteers. If it saves just a few jobs, it’s worth it…👍

Praying for all those who have lost their jobs or have had to really make some adjustments with a reduction in pay.
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That policy makes a lot of sense. My boss just asked me yesterday if I’d take a week unpaid vacation in addition to my two weeks paid vacation in April. I accepted. I have been working so much overtime, I have only had three days off this year (including Sundays and holidays). I know my colleagues can’t afford to take a week unpaid vacation, so I figure it’s better for me to do it than for them to be affected badly. And I sure could use the time off!
 
lizaanne said:
Ok - I’ll get it right this time. :o

Please take the poll - I think it will be interesting to see how CAF has been hit by the economy.

~Liza
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Yup,

Self Employed sole provider to the Wife and six kids and one grandkid. Business is down 60%. I make less now than I did 20 years ago working for someone else. No complaints though. Who wants to hear it anyways. We will get through by OUR determination to succeed and God’s Will for us. We are Blessed to have the work that we do. God is good.
 
I admire your tenacity and attitude, mesurman. One of the regional heads said one day…and so true…‘we’re going to be working harder than ever, for less money.’ (from a sales/marketing perspective) I manage the southeast region, with a focus on florida, and I don’t remember sales being this tough…I’m doing well (thank the Lord) but…working much much harder! But, hard work never hurt anyone, right? :o

Still praying for all who have lost their jobs, and are still looking for work…
 
DH, who is an electrician, has been laid off, and the employment looks bleak. I only work 32hrs/week, and the hospital has cut off any overtime, and I can’t go up in hours, so I can’t make up for any of his pay there this time. We are older (60 and 61), but still have a mortgage, but no credit card debt or car payment, although both vehicles have 100,000 miles on them. Savings will be used, and if the economy does not pick up, DH will retire early next year. We had planned to pay extra on the house to pay off the mortgage, but DH has only worked an average of 6 mo a year for the past 4 or 5 years. We are not as bad off as most, we can pay our bills, but the retirement plans have drastically changed.

My daughter’s husband lost his job unexpectedly, they have 2 small children and just moved into their new house 2 years ago, and have no health insurance at this point, except for the kids, so I don’t know what will happen there. They have a conventional mortgage, though, so they did not get caught up in this mortgage fiasco, and do have some savings and a 401K. She does not work. She does have a Master’s degree and used to work, but I think she will have a hard time finding a job if she goes looking for one. They are going to purchase some sort of insurance for themselves, though.

Son and wife are doing very well, they both are GM’s for a restaurant chain, and their sales have actually picked up in both their stores as the competing businesses have gone down. How long that will last is anybody’s guess, though, and they realize that.

God will provide.
 
I’ll be praying for you, CB. It’s great that you guys have no credit card debt…congrats on a job well done, there…it’s definitely unsettling times out there. It’s the unknown I think, that is concerning. I’ll be prayiing for your daughter and her husband, also. God bless.
 
whatevergirl said:
I’ll be praying for you, CB. It’s great that you guys have no credit card debt…congrats on a job well done, there…it’s definitely unsettling times out there. It’s the unknown I think, that is concerning. I’ll be prayiing for your daughter and her husband, also. God bless.
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Why thank you very much for your prayers!!
 
Husband retired about 18 months ago. Got another job, but laid off at Christmas. Then notified mid-Feb. that our retirement health benefits would be eliminated in six weeks. Pension looks rather shakey too. :eek:

He just got a job at a better company, a little less pay, but much better job. I always turn to St. Joseph at times like this and he always helps.👍
 
Well my hubby just got laid off today. I’ve been off work because I’m recovering from surgery and won’t be going back for another two weeks. Our financial situation is really bad, please pray for us.
 
I wish I could have selected more than one option in your pole. We have two kids. My pay has been reduced. My husbands hourly rate and hours have been reduced and now he has layoffs. We take home much much less than we used to. Bills are going to collections and we had one of our cars repo’d. It has been tough, but all things work together for the greater good of those who believe so we do the best we can and realize that we are far better off than most of the world.
 
Wow, this is such a depressing thread! 😦 I will be praying for all of you who are struggling with pay cuts or lost jobs, etc.

We are so very blessed. DH (sole breadwinner) just got a raise and a bonus. If he passes his exam next month, he’ll get another raise and bonus. Like Kevinsgirl said, his job just happens to be something that’s still quite a bit in demand over here. We will *never, ever *take his job for granted, and we thank God for it on a very regular basis. 🙂
 
Medical bills have been piling up for us. My wife made a career change from a home daycare to teacher. In spite of the better salary we obtained additional bills for tranfportation because of a car breaking down and encurred several medical bills on top fo that from various things and surgeries. Topping this trend off was discovering her cancer just 2 weeks ago. Fortunatey it’s treatable but it will no doubt be costly…thus crushing us financially even further. No matter how hard we struggle something always negative seems to hold us back. Her surgery will be Mar 4 at M.D. Anderson, so please pray for the cancer to be gone. We have 3 young children and she is fairly young. Cover your skin fair people. The sun can kill you.

Pax
 
panoikei said:
Medical bills have been piling up for us. My wife made a career change from a home daycare to teacher. In spite of the better salary we obtained additional bills for tranfportation because of a car breaking down and encurred several medical bills on top fo that from various things and surgeries. Topping this trend off was discovering her cancer just 2 weeks ago. Fortunatey it’s treatable but it will no doubt be costly…thus crushing us financially even further. No matter how hard we struggle something always negative seems to hold us back. Her surgery will be Mar 4 at M.D. Anderson, so please pray for the cancer to be gone. We have 3 young children and she is fairly young. Cover your skin fair people. The sun can kill you.

Pax
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oh Honey, I will pray for her!
 
CatholicSam said:
Wow, this is such a depressing thread!
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Then maybe this is a good place for me to share a small piece of good news?

The pay cut I received is forcing us to trim the budget, and then the pile of debt we built up is forcing us to trim further. Also, we might be eligible for a stimulus refinance. DH is studying for a certification that will help him earn a higher income, and is motivated to earn enough to support the family.

What this all adds up to: We are heading towards a place where we can realistically afford to live off of DH’s income while I stay home. And since a big piece of that will be the stimulus refinance, we honestly may not have been able to afford this unless this recession happened (or we moved to a smaller home . . . but DH hates moving, and gets really down for months every time we move, plus then we’d have less space for the dozen kids I’d like to have 😃 ).

So our “bad luck” may be setting us up to achieve a dream we’ve always thought was unfeasible.
 
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