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DH job is ending

applegirl

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We put two kids through already so it wouldn't be fair to make the next two pay.

Yeah...but if you don't have the money it seems that taking out a loan for something which you don't have the ability to pay back isn't very responsible.

It would be a bummer if you couldn't pay for the other kids college education but hey, life happens. I think your adult children will understand that you just don't have the money. There are other ways you can support their efforts. If they want to go to college badly enough they will figure a way. I know plenty of people who worked very hard and put themselves through college because it was important to them.

I hope you and your husband come out okay with all this. Not an easy thing to deal with. My heart goes out to you!

Janna
 

TerriJ

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I've thought about this post a lot. Many of us are working at companies facing uncertain times, so I can relate to a lot of what has been said here. One thing that has really helped me in these times is adopting a debt free lifestyle. If you want something you have to have the $$ available or save up or think of another way to do it. It makes the uncertainty on the job much more bearable. (The old fashion way like our parents and grandparents!)

Now our kids are grown and have good jobs, so we don't have to worry about college costs. But we do have to worry about retirement and health care, like many on TUG.

All to say, best wishes to the OP and I really hope things work out for the best for you. One reference I have heard on Dave Ramsey is a book called 48 Days to the Work You Love by Dan Miller.

Good luck!
 

sfwilshire

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We put two kids through already so it wouldn't be fair to make the next two pay.

Life isn't always fair. Maybe a good lesson for the younger kids. My mother left my two oldest enough money to cover a lot of their college, but my two younger ones got almost nothing. It wasn't because my Mom loved the older ones more, it was just because of the time in her life and the fact that she wasn't in good health in later years. She never changed things around to leave much to the younger ones.

Having money put away almost seems to work against you anyway, as mentioned by others. The FASFA really "punishes" you for having savings. My daughter, who always worked from age 16 and saved her money, got a raw deal compared to her younger brother who never worked and had no money in the bank. One year, I took most of our savings and paid off a car loan we had. It made a big difference in the "family contribution" element of the FASFA when we had less money.

What stage of their careers are your two older kids in? Maybe they can help their siblings out a bit.

Do what you need for your mental health, but I'd let the college kids stand on their own. I'm in the group that paid every penny of my own education and had the student loans for years to prove it.

Sheila
 

vacationhopeful

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My view is a little different than some other posters.

My grandmother had to step in and squashed my father's plan to educate my older brother and not educate his 4 daughters. Told him she would NOT allow him to condemn his daughters' future while sending his son to Princeton University - all would be sent to the same state school OR he could find a way to keep it equal. My grandmother was a member of the Society of Friends and had sent her daughter (and him) to college during the depression by raising and selling turkeys, making all their clothes, etc.

College or trade school is mandatory today. Everyone has to pitch in, plans might have to be altered, parttime jobs taken, expenses cut (cell phones, lattes, cableTV) etc. Online courses are popular today and distance learning is therefore possible. This is a family problem, including the 2 older siblings who are out of school - if not, the younger two will silently resent their siblings better situation (due only to birth order and a better economy).

JMHO,
 

Patri

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Wow, I miss a day and look at all the responses. Thank you for the positive suggestions. Some of the search sites I was not aware of. I have taken a few notes.
The networking idea is valuable and he already knows some people he will contact. He just needs to get started now, even though he travels during the week. I'd laugh if his company offered out placement services but I'll ask him to check that out. But yes, we are blessed to have advance notice, not a tap on the shoulder.
 

krissydee

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I've recently had to cut expenses so here's a couple of things I do...

I have no cable TV, and I don't miss it much. I read books, listen to music and watch movies. I'm technically only home for about 3 hours at night before I go to bed anyway.

Entertainment- I use redbox now, which is honestly the greatest thing since sliced bread for me. redbox is a dvd dispensing machine with locations all over the place, most walmarts have them, some 7-11's, they're even inside mcdonalds. With redbox it's $1 to rent a movie, if I take it back before 9pm the next day all I pay is $1. If I keep it an additional day it's $1 per night (which I never do). I also signed up for their text messaging deals which gives me a free rental code every monday. Their website is redbox.com and you can find a location by you then preview what movies at currently at that machine. I also raid friends' dvd collections, I'm responsible and they know I'll return them within a day or two.

I cut down my cell phone plan, I only take personal business calls during daytime hours now, Dr's, son's School, etc... Anyone else knows to call me after 9pm or anytime on weekends. I have no problem with telling a friend who calls me during the day to 'get off my daytime minutes' we can chit chat after 9.

I buy offbrand whenever possible... I found and discovered the cheaper grocery stores and have swallowed my pride and only buy from there if I can. I also buy in bulk and freeze it.
I bring lunch every day to work.
I reuse zip lock bags if they contained nothing icky.
I buy ground beef in a tube instead of a package now :eek:
I canceled all ongoing subscriptions I don't use (very easy to forget about)
I stopped using credit cards.
I'm out of the house most of the day, the AC is off and I really try not to turn it on at night now too as it's winter time.
Also as I live in Florida, I have VOWED to not turn on the heating at all this winter. Even Florida gets cold but not cold enough that I can't layer up when I'm at home. I won't freeze, I'll just wear fuzzy socks and a sweater indoors.
I've also promised myself to cut down my dishwasher use from everyday, to once every 2-3 days only. I can hand wash.
 

bogey21

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I like it. All I can add is that some Public Libraries have a large selection of DVDs which can be checked out free.

George
 

Michael

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Dishwasher Use

Good suggestions! I read recently that it is actually cheaper to run a small load of dishes through the dishwasher than to hand wash them.

- Michael
 

TerriJ

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I love the money saving suggestions, thank you. I also take my lunch and snacks every day and have done so for years. But now it is trendy! Over time, this saves a lot of $$ and calories!
 

pranas

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With the change in income you may also qualify for more in federal student assistance - call the college financial aid office.

Is the loss of the job also going to mean a loss of health insurance? Your DH should be offered the option to continue with COBRA, but that'll probably be a lot more expensive than whatever the employer is providing.

Cobra will cost you exactly what you current employer is now paying. You will be getting the same coverage. That is what I was given when I switched employers but I did not need it.
 

Tia

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Doesn't Cobra cost you what the employer pays plus what you were already paying as the employee?

Cobra will cost you exactly what you current employer is now paying. You will be getting the same coverage. That is what I was given when I switched employers but I did not need it.
 

Kal

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Group health coverage for COBRA participants is usually more expensive than health coverage for active employees, since usually the employer formerly paid a part of the premium. It is ordinarily less expensive, though, than individual health coverage.
 

bobcat

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Group health coverage for COBRA participants is usually more expensive than health coverage for active employees, since usually the employer formerly paid a part of the premium. It is ordinarily less expensive, though, than individual health coverage.

Off brand can goods are good to buy. Lets say a name brand cans 100,000 cans of corn. They put their lable on it. Now , supermarkets can also have their name placed on the cans. The supermarkets now sell the same at a cheaper price. I was in my local supermarket on Sunday. They had two big carts loaded with food. One had their name brands in it. The other had all name brand products. They had a money total on the front of each cart. The supermarket brand cart was alot cheaper. They pointed this out in their sign.
 
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