Crisis averted...

[DebtManWalking]

Good Evening,

As many of you know my story, I will not go into a lot of boring details.

I wanted to share one little success that my wife and I recently experienced.

You see, two years ago, my wife and realized a ~$35-40,000 debt load and committed to paying it off.

We managed to pay it all off, save $10,000 and keep $5,000 in the bank for emergencies...

On Friday, August 11th, after 16 years, my wife was given notice that the company she has been employed with is eliminating her position in an effort to minimize costs.

Here's why we are both still smiling and taking it all in stride.

1. No debt, okay, a little debt, $2200.00 on our Visa (used to buy something which we doubled the warranty)
2. About $35,000 cash in the bank which is about 29 months worth of living without going into debt.
3. About $40,000 in credit facilities of which we don't use.
4. Got rid of both of our vehicles and cut back to one vehicle (about $300.00/mth saved).

We learnt the hard way and made a promise to each other that debt was not a word allowed in our house again.

Don't EVER give up, even when life hit's you in the @$$, you can still get up, shake off the dirt and move on.

We never expected the lay-off, but we are greatful that we prepared for it. Last week, she was approached by three companies offering her employment, she is just taking a couple of weeks to collect her thoughts, and think about her future.

Cheers!

[greedy4chips]

Sorry about the layoff, but a big CONGRATS on having finances in place to not let it crush you financially!

We fortunately did similar before I lost my job due to my back surgery. Talk about being able to sleep well and not worry about losing the house. It sure showed my coworkers the light when they saw what I went thru to get rid of their debt too.

[Bluezy]

Well done! And your wife will find another company to work for. Isn't life nicer when you don't have to worry about finances?

[LuxLiving]

DebtManWalking,

...and she's looking for a job that has flextime, great health/life insurance, great 401-k, gym membership and college tuition paid for, isn't she? Maybe even a company car?????

Now's the time to dream and ask for what she wants!

[Broken Arrow]

Excellent!

[greedy4chips]

Originally Posted by LuxLiving

DebtManWalking,

...and she's looking for a job that has flextime, great health/life insurance, great 401-k, gym membership and college tuition paid for, isn't she? Maybe even a company car?????

Now's the time to dream and ask for what she wants!

I think it is a great opportunity to ask for such perks as those listed by LuxLiving during the interview. She has comfort in knowing it isn't a must-get-job-today-to-pay-bills-interview. So why not ask/look for one with a wish list of extras vs the one with the biggest paycheck unless the pay difference makes up for the extras.

[Ima saver]

You know I always worry about our house not selling or my husband not having work, but to look at the sitution the way you are looking at it, kind of cheers me up. It is true, we could go for quite a long time, just living on our savings. Good for you, not letting this upset you two. Hope she finds a great job!

[boefixepa]

Woohooo! That's a great position to be when looking for another job...that way you can find the job you want!

[Ima saver]

They say that the average person is just a few paychecks away from being homeless.

[scrava]

I think that is great that you are so prepared! Great job

[PRICEPLUS]

Your story is an inspiration to all here. You can get to where you need to be financialy if you persevere! Way to go!!!

[debtfreeme]

Wow! Amazing

[Great to be Debt Free]

I just love reading things like this! What an encouragement and a confirmation of why we live the way we live (Now, I mean)!