So, as we expected, it looks like DH's almost 11-year contract will end sometime shortly after the new year. They love him, want to keep him, but can't afford to keep him. Their budget has taken close to a $500K hit. He's indicated he'd work fewer hours happily enough, but his boss isn't sure there's money for that.
His contract with his agency specifies they pay him even if he's not working. But we're both relatively sure they'll dump him quickly if he's not. So he's already put the word out to former co-workers at other firms, to other parts of his current company etc. Later this week we'll revamp his resume. Emergency planning has begun.
Our US cash reserve is ok, almost to the 25K I wanted, but not quite. We should be able to get it there by his layoff. We've got more funds in the UK, but our goal is to live on my regular salary if we can. His unemployment and my second-job and freelance money will go to the emergency fund. All that would work, except there's those three months in the summer when I don't get paid. For those months, we'd rely on unemployment and my freelance and second-job money.
All in all, it's not that bad. We will hope his jobless state won't last long. We are again pleased that I am the insurance holder,and we have no worries or extra expenses there. We are both pretty frugal, and we will crank it down another notch, refiguring travel, entertainment, and Christmas expenses first.
I have some heavy work days ahead, so our budget meeting will have to wait until Thursday or so. Our freezer and pantry are full.
My dear mother always said when faced with bad news, celebrate the good. I bought a restaurant.com voucher (what a deal they are!) for a good Italian place and we went out for dinner and a movie last night. Have any of you seen "Margin Call"? I thought it was swell. Kevin Spacey and Stanley Tucci are spectacular. Jeremy Irons is as loathsome as he should be in that role. Going out was cheap and raised our spirits.
The News From the Boss
November 14th, 2011 at 03:46 am
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On a side note, how could Jeremy Irons ever be loathsome?
November 14th, 2011 at 04:35 am 1321245330
I like restaurant.com.
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November 14th, 2011 at 09:19 pm 1321305569
I'm sorry about DH's job situation, but I'm happy that you have a plan in place.
I think that it was good to have a frugal outing to celebrate the good! Love that idea of your mom's.
(hugs) and a prayer for secure employment for husband.
November 14th, 2011 at 11:23 pm 1321312982
Keep your chins up, this might end up leading to something better!
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