Scuba man and I sat down and had a talk about the finances and my impending layoff. In this economy, I am not sure how quickly I will find a job. At this point, I am still trying to decide if I want to stay in IT.
We can meet all of our bills with Scuba’s salary except for the mortgage on the beach house. Although Willow’s medical bills have drained our emergency savings, we do have enough to pay that mortgage through September, maybe October if we scrimp a lot.
Figuring out our necessary expenditures was very helpful. We will cut discretionary spending to the bone, but there are still a lot of necessary bills. Analyzing everything made us realize that I could take a 50% pay cut, if I had to, and we would still be able to meet our bills. There would be little left over for fun, but we do what we have to do.
We’ve already started making little changes. I have canceled pay channels on TV. I am holding off on getting a new mobile phone and have canceled the data plan on my current phone. It’s not a smart phone, so I rarely used the data plan. I am watching the grocery store sale papers and shopping accordingly. I know I’ll think of more and more as time goes by. Suggestions are welcome!
We also talked about what the worst was that could happen if I couldn’t find a job paying enough to meet our bills. You know what? It’s not that bad. As long as Scuba remains employed, the worst would be having to short sell one of the houses although we would hate to have to do that. We’d still have each other, Willow, and Pockets. We’d still have a roof over our heads, food to eat, clothes to wear. It would crash our credit scores, but if I can’t find a job, credit scores will be the least of my worries. Knowing that the worst isn’t all that bad makes the whole thing easier to take.