Redundancy - How did you manage moneywise, what did you cut out etc..?

[frenchmumma]

need some advice on how on earth you managed moneywise or where you made your cutbacks. Im so worried (Hubby may be made redundant in Jan)as how on earth are we going to pay monthly bills if he only gets £60 week job seekers?

You need to claim any benefits you can. We got extra Child Tax Credits.

Are you working at all?

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I work 2 days a week only around 16 hours per week, we dont receive tax credits as they overpaid us so they are not paying us anything to make up for this!!!!

Yes have thought about interest only (didnt know you could do this!) but Im fixed in until March 09....does this go against you at all?

Lady Laura - what other benefits could we claim?

The CTC people should still reassess your claim as your circumstances have changed.

I was able to get a job when dh was made redundant but didn't earn enough to keep the family and we had to really scrape by. But he got a redundancy payment and that held everything together until he got another job.

redundancy's easy - it's the unemployment that does you in. That is, it all depends how long it takes to find another job. start looking now - and think if it may be a good idwa to downsize if it's going to be tricky to get another job.

in the short term - there should be some kind of pay off - which helps. what does he do, and how long has he been doing it?

I'm not an expert frenchmumma - sadly! Maybe the CAB could help? I know that we only received CTC and dh's JSA.

Isn't there a big change coming up wrt mortgage payments when you are unemployed? I think LadyMuck mentioned it on another thread.

thanks for advice - although redundancies are being announced until Jan I want to be prepared and on the ball. Not sure how it would work as the mortgage is in my name only

Hi Frenchmumma

Sorry to hear this its worring isn't it. DH was working for a shoe company, had been for 12 years, and was made redundant whilst I was on matleave (fsad). Thing to remember is that he gets redundany pay, depending on age, a payment per week he's worked for them, so DH got 3 months wages.

This meant he got to spend some time with PFB that he wouldn't have been able to do PLUS found a new job, better and no over night work (which he used to do twice a week).

So it can be a positive thing. Good luck and don't blame you for being prepared.

I didn't know much about redundancy the gov website helped me understand a bit more.