Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Husband’s redundancy

58 replies

Joneseygirl77 · 11/08/2020 07:27

I’m after some advice as I’m really struggling at the moment.
DH was made redundant in June with a 3mo package. He’s been been applying like mad
for roles and gone through his usual recruiter contacts. I’m in a stable job and we have a savings cushion which we wanted to use to pay off some of the mortgage.
I’m really struggling with it all though. I’m naturally a worrier and a planner so this combined with the past few months has tipped me over the edge. I’m really stressed with all- constant anxiety in my stomach/ unable to sleep and generally feeling off.
DH previous role was quite senior and he is willing to take a drop but hardly anything is coming through at the moment.
I’m so worried for the future and keep thinking he’s going to remain unemployed forever. Trying to keep it from him so he isn’t stressed but I ended up breaking down yesterday. Really don’t know why this is affecting me so much and I’m worried that I can’t seem to get any perspective on it all.
Any advice?

OP posts:
Worrierallthetime · 11/08/2020 13:31

@ivfdreaming

Luckily we have just had confirmation through today of another mortgage holiday for 3 months but to be honest I dont think we will be in a better position even then. There just arnt jobs out there where we are.

Not in uk unfortunately so the benefits we are entitled to are only £75 a week.

It's just one of those things that happens in life if you are unlucky. I'm really just trying to not get overwhelmed by it all. We wont starve because my wages will cover food and if we sell the house we should have enough equity to pay rent on a flat for a good 6 months or so.

The only option to keep the house for a while is to pay the mortgage on credit cards. We dont really want to do that as we managed to get debt free last year.

We just have to plod on and try make the best of it until the situation improves.

Lightsabre · 11/08/2020 13:36

@Worrierallthetime, could you take in lodgers to help pay the mortgage?

Worrierallthetime · 11/08/2020 13:52

We live in a small place so nobody lodges. Plus have DC so wouldn't feel comfortable with strangers in the house. It really is a case of DP finding a job in next 6 weeks or a lottery win.

Jizzle · 11/08/2020 14:33

This is why all major expenses should be checked against losing one wage. You should be able to afford mortgage, car, sky etc on just one watch should the worst happen. It's just good planning, but it always surprises me how many people haven't planned or allowed for this type of situation.

ivfdreaming · 11/08/2020 14:48

@Jizzle

This is why all major expenses should be checked against losing one wage. You should be able to afford mortgage, car, sky etc on just one watch should the worst happen. It's just good planning, but it always surprises me how many people haven't planned or allowed for this type of situation.

That comes across as rather smug. How nice for you.

I would say I'm firmly in the middle class camp and don't know a single family who could afford to lose one wage for a medium to long term period of time

ballsdeep · 11/08/2020 15:06

@Jizzle

This is why all major expenses should be checked against losing one wage. You should be able to afford mortgage, car, sky etc on just one watch should the worst happen. It's just good planning, but it always surprises me how many people haven't planned or allowed for this type of situation.
ODFOD
zaffa · 11/08/2020 15:17

@Jizzle

This is why all major expenses should be checked against losing one wage. You should be able to afford mortgage, car, sky etc on just one watch should the worst happen. It's just good planning, but it always surprises me how many people haven't planned or allowed for this type of situation.
I DH has recently taken redundancy (so OP I have felt your pain) but he has changed career and taken a job at a third of his previous salary to support him in getting a teaching degree. We are in it for the long haul and it will realistically be six years before he increases his earning potential significantly. I was so worried he wouldn't find a job at all; he had high security clearance in his last role and it's as far from a job in a school as one could possibly be and I just didn't know how to plan for it. So Jizzle we can in fact afford the mortgage payments and all the bills on my salary, but we will have no food or petrol or days out or new clothes and God help us if the boiler breaks down. And to be clear we didn't over extend ourselves with a mortgage - it's a lot cheaper than rent would be and we had a 40% deposit. Housing is expensive and it's based on two people being in work now. The days of being able to cover all the bills on one salary are long long gone and your notions of budgeting are ridiculous. By your planning many people would be homeless because we no longer live in a society built for single income families.
Jizzle · 11/08/2020 16:30

Sorry if it sounds smug, but it is just sensible planning! If a family do go down to just one salary i'm not saying they can continue to put thousands in to a pension, or have loads of holidays every year, but surely it is just common sense to ensure you can continue to pay mortgage and bills on just one salary?

I get that houses are super expensive these days, but only being able to afford it every month by having two salaries is madness, people get laid off all the time, downturns in the economy happen every 8-10 years on average so not allowing for one would be a mistake.

Worrierallthetime · 11/08/2020 19:20

We managed fine with one salary. I couldnt work for a couple of years due to medical reasons. DPs monthly salary was double what our expenses are (inc food, petrol,clothes etc). We also had savings put away for a rainy day hence we have managed to get by for 6 months now.

Nobody could have foreseen this happening. Yes redundancy happens etc but usually you wouldn't have whole sectors closing down. This is what has happened to DP. Until the worldwide economy gets back on its feet he has no job prospects having spent 35 years working his way up in the same industry that is now basically on its ass.

praguelover · 12/08/2020 07:28

What field/market doe he work in?
I do feel for you and your husband - I was made redundant on my 58th birthday so I have set up in a business of my own
Good luck!

vanillandhoney · 12/08/2020 08:15

@Jizzle

This is why all major expenses should be checked against losing one wage. You should be able to afford mortgage, car, sky etc on just one watch should the worst happen. It's just good planning, but it always surprises me how many people haven't planned or allowed for this type of situation.
Does being so smug make you feel better?
LaurieMarlow · 12/08/2020 08:20

Sorry if it sounds smug, but it is just sensible planning!

I totally agree with you, it’s just common sense.

LakieLady · 12/08/2020 08:29

I think people are being a bit unfair to Jizzle.

I think of it as a sort of contingency planning. It's useful to know what steps you can take if the worst happens, where savings can be made and so on. It can help reduce their financial vulnerability, and often makes them realise things like having 2 cars on PCP is a huge and unnecessary expense.

The big mismatch between wages and house prices in the UK makes it really difficult for people to manage on just one income though, especially if they're renting. One salary can easily be eaten up by the rent on a pretty ordinary family home.

Joneseygirl77 · 12/08/2020 08:56

We have worked all our finances out and we can just about manage on my salary. It’s going to be tight and no frills but we do know we can do it. As I said we are also lucky to have a savings cushion and DH knows how long his severance package can last him.
He’s in the business transformation field and has worked in a number of different industries so has broad experience. I think I’m just panicking as the economy is shot now and I can’t see when it’ll start to pick up.

OP posts:
WhereamI88 · 12/08/2020 08:57

We could afford rent and the basics with just one salary. But it would be a very very miserable way to live so it would make me very stressed. Jizzle's comment is unfair and also completely lacking in empathy.

clearedfortakeoff · 12/08/2020 09:09

This reply has been deleted

Message withdrawn at poster's request.

Whattodo74 · 12/08/2020 09:28

@jizzle do you feel the same about the businesses who couldn't last one month without a government bail out?

It's always on the every day Joe to 'do things differently' no one I know (near London) could afford one wage and a reasonable home.

whiteroseredrose · 12/08/2020 09:42

We had the threat of this a few years ago.

We looked at the worst case scenario and what we would do.

We looked at smaller houses in a cheaper area and realised that then we could manage on my money.

We didn't have to do it in the end but we felt better knowing that we could cope if the worst happened.

Jizzle · 12/08/2020 10:22

[quote Whattodo74]@jizzle do you feel the same about the businesses who couldn't last one month without a government bail out?

It's always on the every day Joe to 'do things differently' no one I know (near London) could afford one wage and a reasonable home.[/quote]
As it happens, I do feel the same about the businesses in this situation. Again, it is simply poor planning to not be able to survive more than one month if there is a downturn or a reduction in business. I'm sorry, but surely business 101 is that if your company can't build up enough liquid cash to see you through hard times of at least a couple of months, you don't have a viable business?

We live near London on just the one pretty typical wage, simply because we got a house that suited our needs and didn't blow our budget simply to "keep up with the Joneses", as did the sensible portion of our friends.

Ariela · 12/08/2020 11:12

@2bazookas

Been there when my DH was made redundant and my reaction was exactly like yours. That was me howling like a baby in the financial advisers office, SO ANGRY at this hideous insult to DH's hard work loyalty and dedication.

You will mend from the shock and gaping wound you're feeling today,

Redundancy changed our life in good ways. It focussed our thinking on what we really wanted and would not compromise on. No to moving house or schools. Mortgage freedom; a new hard-nose attitude to employers, and the realisation of the high demand for specialists with very adaptable skillsets.

When DH;s company sacked 600 highly skilled people it hit national news and far from our fear of "flooding the field" that was the best publicity he could have had. Before he had time to apply for vacancies another company in an unrelated field headhunted him. Then another.

From then on, he looked out for number 1, worked exactly to contract and sidestepped all the crap. No more working late, taking work home, propping up incompetents, covering up idiots cock-ups, corporate loyalty, dress codes, wining and dining business boors. He could name his own terms, and did.

 Don't keep  discreetly quiet about DH's redundancy;  spread the news far and wide  that  he's available, flexible, experienced.. Decide your fixed priorities and keep your nerve. 

This is a new start, good luck and make the most of it.

I'm with 2bazookas on this. If your DH was well respected in his job, he will find work by networking. My bf's DH was made redundant 10 years ago, and now contracts only to other companies, he names his price, works an average 3 days a week for double the money or more. And doesn't put up with cr*p.
Shouldbedoing · 12/08/2020 15:08

@Jizzle
you're talking crap

Shouldbedoing · 12/08/2020 15:16

Actually, that's not entirely fair on @Jizzle
It is wise advice but just not usually feasible in these times when housing costs are so high.

Jizzle · 12/08/2020 15:27

[quote Shouldbedoing]@Jizzle
you're talking crap[/quote]
Care to enlighten me? Which part of taking sensible precautions is crap?

Shouldbedoing · 12/08/2020 17:37

You're recommending something that isn't possible for the majority of working people.
The days of one wage supporting a household went out under Margaret Thatcher and her capitalist dream.

vanillandhoney · 12/08/2020 18:37

Care to enlighten me? Which part of taking sensible precautions is crap?

You know full well why it's crap. Quit with the faux innocence.

The vast majority of working people cannot afford to live on one wage, no matter how much preparation they do. Many live hand to mouth. They decide which bill they have to pay and which ones will need to be left for another time.

Telling people to set up their lives so that they can only live on one wage is both patronising and rude.

Swipe left for the next trending thread