LT.
Well-Known Member
- Location
- Los Alamos, New Mexico
What do you do when you could be getting laid off? Do you start trying to pay stuff off? Do you start trying to stash some cash? What would you do?
LT.
LT.
What do you do when.......?
- Thread starter LT.
- Start date
- Location
- Grand Junction, CO
I sold all my toys... :-\
Over 6 months off and I've decided I don't need all the stuff I had, so while I am back to work, I won't be trying to re-collect what I had.
Are you facing a similar situation? Hope not, it's not fun. :sick:
Over 6 months off and I've decided I don't need all the stuff I had, so while I am back to work, I won't be trying to re-collect what I had.
Are you facing a similar situation? Hope not, it's not fun. :sick:
SubLime Time
A Study in Black & Green
- Location
- Northern Utah
my take is: stash some cash, then you can use that to live day to day and still pay your bills until you find more work.
gijohn40
too poor to wheel... :(
- Location
- Layton, Utah
if you can pay off alot of your high interest loans and stuff like this I would... cause once you get late on them they get out of hand and its not fun...
Credit ratings are becoming a big show stopper for alot of future employers.. I know that most city jobs you almost need a great credit rating to get a job... and then there is the federal gov they don't like to see bankruptcies....
So being in just about the same boat as you are I am taking care of alot of my high interest loans which boosts my credit score which if need to I can use to my advantage later on...
Credit ratings are becoming a big show stopper for alot of future employers.. I know that most city jobs you almost need a great credit rating to get a job... and then there is the federal gov they don't like to see bankruptcies....
So being in just about the same boat as you are I am taking care of alot of my high interest loans which boosts my credit score which if need to I can use to my advantage later on...
Spork
Tin Foil Hat Equipped
- Location
- Saratoga Springs, UT
Update resume and start looking. Figure out where other employment is (depends on occupation) and who you know that is there. Talk to other people you have worked with and see if they know of anything available. It's a lot easier to find work when you are working than after you have been let go.
The money aspect varies person to person. I have neighbors that get laid off and 2 weeks later they are back to work. The last time I got laid off it took 3 months to find a job (lower paying on top of that). Try to figure out what you need and plan for it.
The money aspect varies person to person. I have neighbors that get laid off and 2 weeks later they are back to work. The last time I got laid off it took 3 months to find a job (lower paying on top of that). Try to figure out what you need and plan for it.
LT.
Well-Known Member
- Location
- Los Alamos, New Mexico
Thanks y'all. In the last month I have been working hard to pay bills off but, that was in hopes of purchasing the crawler hauler that was at this years EJS. The trailer looks like it is on hold for now. I am hoping to pay off my credit card this next paycheck. I am really bummed because I have the tow rig that I have always wanted and the Beater was starting to come along as well. I suppose I could always go over seas and work for more money but, I don't want to leave the wife behind. I will know more in October but for now, I am really looking for wisdom. Thanks for the information.
LT.
LT.
I have a feeling that with the way things are now adays,,, most of us have had this same thought. I have quite a few toys and I fell that I'm not upside down in my loans. If I was, I would be most worried. Like Greg, I would sell my toys first and fight hard for a new, hard to come by job.
You gotta do what ya gotta do these dayz.
You gotta do what ya gotta do these dayz.
rockreligious
NoEcoNaziAmmo
- Location
- Ephraim
stash as much money as possible, then if you dont get laid off, dump the money on debt and pay off as much as you can, always leave at least a $1000 for an emergency fund... I wouldnt pound away at the debt now if you think its possible your getting laid off cause if you still have balances all though paid down the payment book doesnt go away.. so store up money then when you need it its their. after you get your $1000 put away for emergency, your misc depts paid off other than your house save up 3 to 6 months living expences for the next time being laid off becomes a possibility. most people can find new employment within that amount of time.
ID Bronco
Registered User
- Location
- Idaho Falls, ID
I would pay your regular payments and stash the rest. Sell anything you don't really need or really want to keep. Also, I would start a biz that will bring in enough to cover your nut. Your lowest needed out of pocket amount. (I know a good vending biz) Many people I talk to get laid off, get a severnce package and live on it. Then call me to start a biz, but then have no capital and no job. If they would have called early in the game they could have a biz brining in enough to keep the wolf away from the door and then any job, ie. lower paying easier to find job is enough to take care of their families.
Just my .02
Just my .02
R
rockdog
Guest
Greg, Did you get called back by the railroad? I know you were working on a business of your own.
Hope things have turned around for you guys.
- Location
- Grand Junction, CO
Yeah, I've been back working with the UP for 6 weeks now. We did start a small business and planned to grow it quickly, but it hasn't moved how we planned. It's doing alright, but having a few locations would be better than just one.
sixb
Will work for beer!
- Location
- West Jordan, UT
Well since your asking what I would do, I would lay low and play with my kids and enjoy my self knowing that all the years I spent money wisely, made good smart loans, and saved as much as I could is paying off now and in a few years I will return to the work force if I feel like it.:greg:
LT.
Well-Known Member
- Location
- Los Alamos, New Mexico
I think that the plan is still to pay off two small credit cards and one of my wife's student loans. About $5200 worth of debt. I have 5 paychecks left until October to get this done. We have some money saved for just such an emergency and we also just slaughtered a cow so I have more meat then I know what to do with.
I think I like ID Broncos idea and it was something that I had not really given much thought to before. Basicly just pay the what you have to and save the rest. This way your money earns you something in return. My thinking was to pay off debt in an attempt to lower the amount needed to get by. I am still not really sure which is the best route to go here. I like what I am hearing, does anyone else have somthing to add?
LT.
I think I like ID Broncos idea and it was something that I had not really given much thought to before. Basicly just pay the what you have to and save the rest. This way your money earns you something in return. My thinking was to pay off debt in an attempt to lower the amount needed to get by. I am still not really sure which is the best route to go here. I like what I am hearing, does anyone else have somthing to add?
LT.
rockreligious
NoEcoNaziAmmo
- Location
- Ephraim
I would only add, that you have some time, be smart, do your math, research, work hard to reposition if you get laid off, Relax your on the right path...and know that one of the biggest barriers to where you want to be is comfort. people seldom charge into thier dream carrier because they are comfortable where they are at, so if you get kicked out of your comfort zone take advantage of it.
LT.
Well-Known Member
- Location
- Los Alamos, New Mexico
Thanks y'all for all the advice. I am going to try and put it to good use.
LT.
LT.
LT.
Well-Known Member
- Location
- Los Alamos, New Mexico
Tomorrow we have a meeting with the GM at 1430 hours to see what is in our future. I wish we could have had it today so that I would not be feeling this anxious.
LT.
LT.
ChestonScout
opinions are like Jeeps..
- Location
- Clinton, Ut
Good luck brother!
This sucks. I thought your job was more than secure. But as they say.....everything happens for a reason.
I will keep you guys in my prayers
This sucks. I thought your job was more than secure. But as they say.....everything happens for a reason.
I will keep you guys in my prayers
broncomitch
dont be a sheep in a jeep
- Location
- west jordan,UT
2X
i know know some what how you feel. i was stupid when i got laid off, bought bronco parts and what not, and collected my works unemployment.
was lucky enough to get a job right when my unemployment dryed up.
if ya gotta go over sea's ya gotta go. dont want her to leave ya for not having a job
if you do we all need to get together before you go! ill miss my Roobbie pooo!
i know know some what how you feel. i was stupid when i got laid off, bought bronco parts and what not, and collected my works unemployment.
was lucky enough to get a job right when my unemployment dryed up.
if ya gotta go over sea's ya gotta go. dont want her to leave ya for not having a job
if you do we all need to get together before you go! ill miss my Roobbie pooo!
