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What is your plan?

July 27th, 2010 at 12:46 pm


Not much to report in the money realm here. Thankfully I've reigned in the spending and we are on pace for a responsible and prudent spending for this tracking period (I do weekly from Fri to Thurs). We're having tons of family time with my grandmother and mother and it has been fun - mostly inexpensive stuff like walks at the park and watching library DVDs (tho we did break down and rent What About Bob? for a buck at Family Video!)

I volunteered last week for the second round of VBS at our church. This program was more academic (based on the catechism and presented by seminarians) and was very popular with the homeschooled families - I didn't realize how many large Catholic homeschooled families there are in my neighboring suburbs (I met three families with nine children alone) (I could compare them during another post - rather interesting observations I made).

This brings me to my question. One husband/father just lost his job (he was in food sales). I was talking to him and he said, "Well, there really isn't anything to worry about ... the Lord will provide."

While I do believe that He is ultimately in charge of everything, I would still be quite concerned about things like unemployment/paying the bills/Cobra insurance premiums, etc.

I've fallen off of the wagon for being a good planner for things. Our EF is presently at $7,000. Our future car fund is at $4,100. Our tuition has increased drastically. I worry about paying all of the bills (they seem to spread out endlessly before me).

What is your plan for unemployment? Do you have one? Fern is doing it and I'm following her story, but I think it would be undo-able given the size of our family ... I should give it more serious consideration.

Posted in Uncategorized | 6 Comments »

6 Responses to “What is your plan?”

  1. khochiajit Says:
    July 27th, 2010 at 01:32 pm 1280237548
    1280237548

    making Money WITHOUT of dep!!!!!can i do it

  2. MonkeyMama Says:
    July 27th, 2010 at 02:04 pm 1280239481
    1280239481

    I think unemployment would be tough with the size of your family.

    My personal plan is to have savings, reduce expenses during layoff, both of us would look for jobs (2 minimum wage jobs could keep us afloat), sell a car (or 2), downsize home, borrow money from family. (Our options, from bad to worse - depending how bad it is). I do admit what has blind sided me the most in this economy is the lack of available jobs. We just try to keep our means low and know we can pay the bills with two very low level jobs. That's fine, but you have to be able to find those jobs. Right now it's "compete with 500 people for one minimum wage job."

    My efund is really my priority right now, considering all this.

  3. NJDebbie Says:
    July 27th, 2010 at 02:40 pm 1280241633
    1280241633

    Laura, I think about this all the time, especially when I read articles on people who have lost everything due to unemployment and poor planning. I also think that we can make it on two minimum wage jobs until my youngest gets out of high school. Then we would also put the house up for sale and move to our rental house (its paid for) and our property taxes are $5k less than our current home. If we had to move to our rental property our expenses would be minimal and with our emergency fund we can probably live there a few years.

  4. NJDebbie Says:
    July 27th, 2010 at 02:42 pm 1280241754
    1280241754

    Another thing, I admire that man's faith!

  5. MomEsq Says:
    July 27th, 2010 at 02:52 pm 1280242351
    1280242351

    I was just thinking about this over the weekend. As a business owner, I won't qualify for unemployment benefits if something happens to our firm (and that's not outside the realm of possibility). Obviously, I'd look for a new job right away. We could manage for 3 to 6 months with savings and moderate changes to our spending. In a long-term scenerio, we'd sell a car, pull the kids out of daycare (our biggest expense), downsize insurance, put student loans in forebearance, eliminate extras, and cut the food budget. We could manage indefinately on one income with no daycare so long as we didn't have to pay student loans. As soon as the student loans came into play, we'd have problems - I'd need to work, then we'd need daycare...

  6. north georgia gal Says:
    July 27th, 2010 at 04:52 pm 1280249573
    1280249573

    I also have been thinking about this alot lately. I am not sure what I would do. I have no money in my EF so I would be really up a creek. I know my parents would help me, to make sure I have a place to live and utilities paid. But the credit cards would just have to take a back seat. I doubt I would be able to make even the minimum payments. I really need to get my EF built up.

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