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UK recession and jobless with kids

25 replies

Winkle2020 · 12/03/2024 22:28

I need a hand hold, I am really feeling down today . We are a family of 5, with three kids under 6. My husband has been made redundant last week and tomorrow is his last day. I was on maternity leave and my company got closed and they made a collective redundancy. So we both are jobless with heavy mortgages and loans to pay. We both bought our dream house in 2021. However the interest rates raised so much that we are living so frugally even then was just managing the expenses, however from tomorrow we both are clueless. We have been applying for jobs since January and nothing working our. Applying a lot of jobs using various portals and directly on the companies website however nothing is working out. I want to cry and don't know how to fix these. my husband is in IT and I am in operations. Suddenly overnight I feel everything is upside down. How are we going to manage everything. We have some savings to run the mortgages for 6 months maximum.and.thats all we have. Sorry for.the.rant. i got married in 2017 and it's been 6 years span, in these years I had 3 deliveries and postpartums.to deal with, sustained the job till the third delivery so that we can get our dream.house, lost my mother in 2017, lost a baby in 2019, got COVID, lost my father in 2023 who was bedridden since my mother left. When I thought I can give myself a break from everything and spend quality time with my kids this happened. I do not know what to do. If there are any headhunters here in mumsnet who can help me please let me know. Feeling so broken after all.

OP posts:
NHStoPrivate · 12/03/2024 22:31

I'm sorry OP, that all sounds really difficult.

I think you both need to try to get any job at all, then to look for the jobs that you want while doing those jobs.

Good luck.

Toomuchgoingon79 · 12/03/2024 22:34

That sounds tough. Are you only applying for jobs in your chosen fields? I think anything is better than nothing at the moment, as long as you are bringing some money in.

Octavia64 · 12/03/2024 22:50

That sounds really difficult. I'm sorry you are in this situation.

Could you apply for a mortgage holiday? I know at one point they were saying it would be given automatically to anyone who applied.

Another possibility is extending the term on your mortgage.

Please do contact your utility companies as well - I know a lot of them have plans and ways to help people who are struggling with the cost of living crisis.

I hope things improve for you.

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WithACatLikeTread · 13/03/2024 07:04

Are you entitled to any benefits?

beAsensible1 · 13/03/2024 07:06

Have you tried going to a jobs agency?
also mortgage insurance.

Hoglet70 · 13/03/2024 07:10

Agencies are the way to go - you will get something this way that will keep a roof over your head. Register with all the agencies in your area. Good luck!

Homecountieshome · 13/03/2024 07:13

beAsensible1 · 13/03/2024 07:06

Have you tried going to a jobs agency?
also mortgage insurance.

Mortgage protection insurance or income protection insurance can’t really be laid out if it was taken after a redundancy announcement was indicated let alone applicants already jobless.

isitme111 · 13/03/2024 07:15

Citizens Advice may be able to give some financial advice

Overthebow · 13/03/2024 07:18

What type of jobs are you applying to? Ahh job at the moment is better than no job.

Orangeandnavy · 13/03/2024 07:22

What area of the country are you?
Things will get better. Try and enjoy this enforced time of being able to spend time together as a family. It’s the silver lining. Wishing you luck.

Adventurekreacher · 13/03/2024 07:24

So sorry to hear about your situation. Agree with comments that you should contact your mortgage lender and all your suppliers and be honest about your situation. They could allow payment holidays / plans for a short time.
Could you or your husband start your own consultancy?
Hope you both find something soon

SandysMam · 13/03/2024 07:39

Well done for having 6 months of savings OP, many don’t. Did you get redundancy payments as well? I agree with poster who says to take any job at the moment (work opposite shifts at the moment for childcare) this will supplement those savings whilst you apply for jobs. Shift work will also help make sure you are able to attend interviews etc. Also, consider taking jobs in companies with progression opportunities that may not be matching your former salary before but at least it will get your foot in the door. Don’t necessary wait for the dream job, it might not come along for a while but you can always move on when it does. You will get through this.

WithACatLikeTread · 13/03/2024 13:06

Orangeandnavy · 13/03/2024 07:22

What area of the country are you?
Things will get better. Try and enjoy this enforced time of being able to spend time together as a family. It’s the silver lining. Wishing you luck.

How can you enjoy it if you are worried about paying your bills, feeding your kids and keeping your house?

WithACatLikeTread · 13/03/2024 13:08

Are your savings about £6k or above £16k?

Winkle2020 · 13/03/2024 19:46

Thank you everyone for taking time to talk to me, so we have been doing the following

Contacted the citizens bureau to know if we are eligible for benefits, they said if we have savings we cannot apply for UC however once we are bankrupt we can, so at the moment it is a far option

We both are applying for jobs anything which suits our background

We both have reached out to our network and still doing it, however nothing materialized yet with contacts

My in laws have kindly accepted to help us with the groceries dry ones ( since this needs to be sent from a different country). This will substantially reduce our spending on groceries a lot for a while

This morning fortunately my husband's company has given him.one more week before serving.the 1 month notice period to find and sort out any internal roles in his company, although no roles yet came up for him, this will give us some breathing time to sort out outside job

We have reached out to our energy providers and applied for mortgage holidays as well

We will for sure take up a income protection insurance for our future jobs

All these are happening still I have a feeling which is so similar to bereavement and unable to relax even a single minute. We are worried for the children, they will not suffer for basics however as a parent if you know you are struggling to provide them, it literally puts us off. Also the house, I cannot explain how much love we have put in this house ( we have self built the house), every detail and hard work. Although no one will kick us out of this place suddenly, the feeling that what if we cannot afford the mortgage scares us and what scares us more is every single job opening has at least 50 applicants.

I am keeping my fingers crossed for everything. Hope this brutal torture ends quickly

OP posts:
GoingUpUpUp · 13/03/2024 20:08

Are you on LinkedIn?

I pretty much hate it but it’s good for networking and job hunting

T0ASTER · 13/03/2024 20:13

What part of the country are you in?

IsEveryUserNameBloodyTaken · 13/03/2024 20:26

Once your savings drop below £16 000 you will be able to get UC.
When you say mortgages do you have more than one property.

caringcarer · 13/03/2024 20:34

You should be able to claim new style job seekers allowance. It is not much but might buy some food. Sign up to agencies. They might find you temp work for a few months or maternity cover positions. Mortgage holiday for 6 months.

Winkle2020 · 13/03/2024 20:40

@GoingUpUpUp yes I used to apply via LinkedIn however now I am going on company websites.

OP posts:
Winkle2020 · 13/03/2024 20:41

@T0ASTER I am in Hampshire UK

OP posts:
Winkle2020 · 13/03/2024 20:43

@caringcarer thank you, I think my husband would be eligible as I was in maternity leave and therefore not sure if I am eligible for JSA.

OP posts:
thesleepyhoglet · 13/03/2024 21:44

You talk about mortgages in the plural... do you have more than one?

gamerchick · 13/03/2024 21:50

Maybe you should sell one of your properties. You keep indicating you have more than one.

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