And it’s not the good kind.
Last Thursday, my husband found out that the business he works for is closing its doors via a press release. After the initial shock of the bungled announcement we got down to business. While the company’s PR is good, we’re less certain about their ability to truly help employees who will be out of a job by the summer.
That night we had a conversation about our budget. ML and I have separate accounts and are each responsible for specific bills. We trust the other is paying and saving according to our goals. The system has worked for the last 12 years. That night, we figured out how many of ‘his bills’ I could take over.
It turned out that if I decreased our savings , I could take over all the bills he takes care of minus our mortgage. Our aim then is to have me do that starting in March. This will allow:
- Him a chance to save the majority of his salary
- Us to test our theory and finesse our strategy
Based on our math, we should be fine until March 2022. Then we may need to revisit our strategy. As he’s guaranteed employment until June, he’s using this time to:
- Assess what he’d like to do
- Update his LinkedIn
- Reach out to his network to figure out what opportunities may exist
- Apply for jobs
Have you been in this position? If so, any tips or tricks would be greatly appreciated!