Help, lost 70% household income!

[Looklikepob]

Feeling in shock at the moment. DH has lost his job. I'm on Mat Leave. When I return to work, I have to stay with my company for almost a year according to the contract. I already applied for part time (before the job loss) and they won't let me change this. I'm also not allowed to take a second job.

I feel quite scared and can't quite believe that we went from being quite comfortable last year to really struggling this year!

Advice/ support appreciated.

I'm sorry OP, that sounds like a terrible shock.

Does he have any form of pay off?

Have you specifically asked them about going back to full time since you found out?

How difficult does he think it would be to get an equivalent new job?

Is there a reason he can’t get a new job asap?

very sorry for you're stress

Try not to panic OP.

The obvious answer here is that your husband needs to look for a new job ASAP. Is this likely to be easy in his industry? Has he been made redundant with a payout?

How far in to your mat leave are you?

Have a look through your finances and figure out where you are- any big debts? Are there any savings you can access? I appreciate he is probably reeling, but he needs to sit down properly with you and look at this. The money saving expert website has some great resources to get you started.

This happened to us in covid. It's worth signing up to UC as soon as the income stops.

Are you currently not living in the Uk and experiencing the massive decline in employment opportunities post Brexit and Liz Truss?

It depends wildly on the sector.

Op, I think the primary focus has to be on what your DH can do, it sounds like you are doing your bit.

I would also suggest talking to your bank if you have a mortgage, I think the advice is to talk to them as soon as possible so you can get a plan in place early

Without knowing what he does that’s a ridiculous comment. There are plenty of industries where there are many vacancies as well as those that are being squeezed.

For example, if he was a teacher in an area where a school is closing due to falling birthrate it doesn’t mean he can’t jump into a job quickly elsewhere. Your comment was really snarky. It was a valid question.

Hi OP that does sound difficult.

If you have a mortgage and are on repayment, most of the large lenders signed up to a new charter in the last couple of years that allows 6 months interest only with no questions asked. I did it on the app on Friday.

Yes the payments will be a bit higher when you switch back but not loads in most cases and it would just give you some breathing space until your DH hopefully gets a new job

If he is a UPS teacher in a school closing then the chance of getting a job at that same pay rate is pretty poor!

Sorry to hear that. DH took an 80% salary cut during Covid and it was a pretty scary time for us.

If he’s out of work for at least four weeks he should be able to get a tax rebate on tax already paid this year that could help tide you through a bit.

Details of how to claim are at the bottom of this linked page.

https://www.moneyhelper.org.uk/en/work/losing-your-job/claiming-your-tax-rebate-after-losing-your-job#:~:text=If%20you've%20claimed%20any,Jobseeker's%20Allowance%20and%20Carer's%20Allowance.

Get him to sign up to an agency and take whatever they throw at him.
This has happened to dh . Yes, he took at 10 grand pay cut, but it meant he was straight back in work and bringing in money even if not what he was used to doing. Factory work can pay well for men, especially with shift allowance.

And he did that job for about 6 months, before getting one in his field.

If you’re on a part time contract, I can’t see how an employer can both prevent you from moving back to full time and bar you from getting another part time job. That can’t be legal - any employment lawyers care to comment?

Worst case scenario you start looking for another full time job, and tell your old employers you're not coming back once you've got one. But that would be a bit defeatist: assuming that DH isn't going to get another job.

Your DH can apply for UC until he finds a new job, you should use entitledto.com to see what your entitled to, ask the bank for a mortgage break straight away. Your DH will find a new job this is just a blip, you will get through it.

Agreed, I had people falling over themselves to offer me jobs when I started looking - and as a manager I am really struggling to recruit quality candidates right now and that's true right across our area of work

Oh I didn't know that! That's a useful bit of advice

Thank you very much for your replies and advice.

My DH will look for a job asap and I have asked him to take any job to get us through this. We are renting so no mortgage so we can live off some savings meant for our housing deposit for a bit. I think I will need to speak to my employer as someone has advised. It does feel unreasonable that I have to work part time and can't get another job despite my circumstances changing.

I know some people have it worse (e.g. no savings) so I have to be grateful, but I am just in disbelief at how quickly our finances have changed for the worse.

It's even better that your renting as you can get that paid! Don't worry that you earn to much a friend of mine earns over 40k and they were still entitled to help, while her husband was sick. It wasn't mega bucks but it helped. Definitely use entitled to.com for help with rent childcare fees and basic living. Even if he gets a minimum wage job it can be topped up by UC to help with rent. You lose £4 uc for every 500 in savings over 6k upto 16k if you have over 16k savings then you won't be able to claim until it's under 16k

Why aren't you allowed to change your hours when going back?? You should be, if you were full time before they can't make you go back part time.

I was working full time before Mat Leave but changed my hours to part time before DH lost his job. They agreed to it and hired someone to take the remaining hours. So now I am stuck on part time.

The first course of action should be focusing on getting your DH back into full time work. If this happens, then surely there is less issue with the part time situation?!

Your husband should claim new style jsa not uc as your income and your joint savings will not be taken into account. This can be claimed for 6 months. If your savings are low then you can also claim uc for help with the rent and the child elements . Citizens advice can help you with this.