Home > It's Fallen!

It's Fallen!

January 9th, 2009 at 04:52 pm

...the axe that is.

I blogged late last month of the possibility that Hubster might be laid off. Well, it happened yesterday.

He's busy today listing stuff on Craigslist that he bought to resell then hopefully off later today or Monday to the unemployment office. He's got a guy coming this afternoon to buy some old stereo equipment. Afterwards we're off to see Gran Torino at the matinee and then out to spend our Christmas giftcards from my Mom at a local retailer. I see new bed pillows in my future with mine. Don't know what he'll buy with his.

Hubster is 62, so could take early SS if he wants to, but we are still 'cussing and discussing' those options. This isn't the end of the world for us as we do have emergency savings, pension options, SS options, 401Ks and IRAs and various other investments and ways to make money at home if the dollar doesn't tank completely!

It would be a no-brainer to go ahead and start drawing SS after unemployment runs out if it weren't for the big difference in our ages. May-December marriages make for some interesting financial discussions when you've never made or saved enormous sums of money. Trying to decide which will keep me into my old age the best way possible is one of the topics dear to his heart during these times. He's been laid off before and we had the same convos then.

Our bills stand currently at a mortgage payment of $353.00 a month if we aren't paying extra to principal and average utility bills of $310.00 a month, and house taxes and home & auto insurance run us $152.50 a month. The basement pantry is full to overflowing so eats are not a problem either.

Here on the desk to add to the challenge...


$002.07 balance
+002.01 desk change
$004.08 MTD

2009 Challenge Total $4.08
Cumulative Challenge Total $1006.86

13 Responses to “It's Fallen!”

  1. creditcardfree Says:

    So sorry to hear about the job loss. It can be quite tough emotionally, even if it isn't the end of the world financially. Give him lots hugs!

  2. Koppur Says:

    I'm sorry your DH lost his job. I'm glad you guys have plenty of place you can draw on for bills. Once again, it shows the importance of paying off debt and building in savings!

  3. Ima saver Says:

    sorry to hear that. My hubby is quickly running out of work also; he is a builder with no new houses lined up to build.

  4. pearlieq Says:

    Sorry to hear the bad news, though it definitely sounds like you're keeping your chin up and your wits about you.

    I hope you can work out the right solution for you and your family. Best of luck!

  5. fern Says:

    Keep in mind, too, that each year beyond age 62 that your husband can delay collecting Social Security, he'll earn about 8% more. That's significant.

  6. frugaltexan75 Says:

    Wow, I'm sorry to hear about your husband losing his job.

  7. mjrube94 Says:

    I'm sorry to hear the news as well. It's so great that you were prepared and have your act together financially. That way you won't feel rushed into making a decision that you may regret later.

    Good luck as you sort through these options!

  8. baselle Says:

    I'm sorry to hear your news. At least your cost of living is reasonable, which will definitely keep your options open. I'd try to hold off drawing SS as long as possible, but you've got to do what you've got to do.

  9. LuxLiving Says:

    Yes, we're going to try very hard to hold off on SS.

    Cost of living? That much can be attributed to us buying a home well within our means! The idea there was to buy one that if I personally had to be the breadwinner in the home for some reason that I could reasonably make the payments out of my salary.

  10. homebody Says:

    Read your post earlier, was hoping it would not happen. Hang in there.

  11. crazyliblady Says:

    Wow. I feel for you. It is a tough situation, but it sounds like you have a lot of resources, thankfully, to draw upon. Perhaps he could get some temporary work through a temp agency to help tide you over.

  12. choystercash Says:

    oh man, that's rough....hang in there

  13. Analise Says:

    I am just catching up on blogs and am sorry to hear about the job loss. You exude such positive energy and this will no doubt help you get through this. It also helps that with your with your EF and savings, you are solidly ready to weather a set back. I would hold off on collecting SS as long as possible, although it is great that you have this as an option.

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