credit crunch + recession,,and me, uk

[hoosier]

We have always lived within our means so we don't have any debt, but it is getting scary. OH works for a company that supplies the auto industry and we all know what kind of shape that is in right now. The scariest part is that if he loses his job, we lose our insurance coverage. The state has a plan that we can buy into, but you have to wait six months before you are eligible.
Good luck Andy - maybe people will decide to remodel if they are going to stay in their house instead of moving up in house.

 

[rooster-red]

Quote:
I'm in the auto parts industry, so I share your pain.

In Feb. my company cut back our hours, I'm bringing home $400 a month less now.

We've just gotten by thanks to some friends and family.

We've eaten a ton of eggs too.

 

[GwenFarms]

My dh was a carpenter. He apprenticed under his dad since he was a teenager and went to work on his own soon after we got married. He was a carpenter for almost 20 years. Several years ago we began noticing alot of foreign laborers on job sites. Now it has gotten to where I would say 2/3rds is non american workers and dh can't compete. The way they told him it works is that one has a green card, then brings his other family and friends in that don't. The pay all goes to the one that is legal, but since in subdivisions and apartment buildings, that was dh's main source of income, you get paid by the unit, they would make enough money to split between all of them. The contractor was happy with that because they would work for a much cheaper rate than what local subs would find acceptable.

Dh finally had to quit..that was two years ago.

He went back to school and earned his CDL. We have a much more dependable income now. It was hard for the first year, but the pay off has been worth it. We are glat that dh changed careers now because of the recent unstability in the housing market. The economy would have been what pushed him now if he hadn't of been forced out then.

Believe me, I know the thought of changing careers is scary, but you may want to consider it.

 

[Solace]

Folks. I've been there done that and I can honestly say this guy can help.

Dave Ramsey http://www.daveramsey.com/

He's not one of those charlatan 'make money fast' goons. He's not even about that. His plans are common sense once you think about it.

For those in the US he has a daily radio show.

 

[erthymom2]

Solace, I agree with you. Dave Ramsey is the Man!!

I have his two books-on-tape and his book and re-read them periodically to remind myself why i need to pay off my bills and save money....no one else is gonna take care of me but ME!!!!

 

[1dude]

Yep, I don't have a credit card, just debit and I strongly agree with cash only. However if you don't have cash thats a problem. Doom and Gloom, well these down turns seem to take about 2 years to run there course. This one is a nasty down turn, war, oil, food, housing, ouch!

Its almost hurricane season, there will be some roofs to replace, DOH! You could make a load of money here doing that. Fly to Mexico, run across the boarder and go to work. If you get caught it was an adventure! Millions of people do it all the time and no one cares!

I had to go to Afghanistan to make enough to live and try to get a little ahead. However it sucks to be away from home for over a year now and one more to go.

You have to be tough, and sit down when its quiet and make a plan. You may have to consider thing you have never considered before. Look around and see whats working for other people. Talk or network with others to find opportunities. Don't worry about failing, stand up dust yourself off and get going again.

I lived in the UK, "Harrogate, NY" for 8 years and it was really nice. One of my sons was born under NHS. My wife had an emergency C section. Didn't cost a penny, thats great!

Hang in there!!!

 

[andy]

i suppose in a recession the construction industry is hard hit, im hoping what rooster red said , is that people will decicde to have work done on there propertys rarther then move home,, thats what ive done,,....i will be £260 a month beter off next year when my car is paid off,,{ never again}... im going to change my morgage over tomorrow to intrest only payments,just till things pick up, im gonna grow my own veg , swop eggs for more veg,so that will save bob or 2,im gonna ring all the estate agents for maintainance work tommorrow and put buisness cards in all there letter boxs,if that doesnt work ill do it all over again, im not changing my job im just gonna try harder , ive heared alot off the immigrant construction workers are going back home, now they have had there cake. oh did i tell you that i bought a bag of flour and yeast yesterday,, yum yum cheap home made bread,, this is getting quite exciting i like a good old challenge,,

all you guys have been great i feel much better now ,
chest out, shoulders high, and march on

 

[chicamama]

The financial mess of many is so complicated and there is no right or wrong as much as, misguided visions. Maybe now is the time to invest in some guidance with a credit counselor?
There are way on consolidating, etc.... I'm no expert, but I'm like you, for a period i started to live a bit above my means and now it's caught up. Nothing too serious, but no real savings either. The sub prime loans did a lot of people in and while ignorance is no excuse, it was a tasty bait dangling many young men and women into the American Dream of home ownership, etc. I happen to live on the Westside of Los Angeles were the medium home price range is $700,000.00

That's a heafty mortgage for many.

Glad you shared. Think about a credit advisor.

 

[chicamama]

Oh Andy, I did not read your last post or realize you were in the UK.

Maybe some of my suggestions are moot.

Good luck. Sounds like you have a plan.