We got laid off…
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- Опубликовано: 8 сен 2024
- Hey all, it’s been a while and our debt-free journey took a sharp turn. The consumer debt is back, student loan repayment is coming back, and we just feel backwards overall. The husband got laid off which means we are about to become a 0 income household. Our life feels chaotic and we’re just trying to dig ourselves out of this mess and figure out how to survive.
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#debtfreejourney #debtfree #payingoffdebt #creditcarddebt #studentloandebt #theunsavvybudgeter #techlayoffs #laidoff #noincome
I’m so happy to see you back but sad for the bad news. But you will be ok. I’m sure your husband will find a better job and God will provide. Blessings for you both 🙏🏻💕♥️🙏🏻
It’s been so hard to get back into RUclips. It feels like I’m starting all over again and don’t know how to do this. Your comment helped with my anxiety of posting this video. It’s so nice to hear that you’ve stuck around. This is the positivity and support I came for! Thank you for your blessings, we need all we can get. ❤️🥰
Things happen. My husband got laid off early in our marriage. It’s hustle mode season. I know you can do it. I would also really make a plan to not go back into debt once you are done with this debt. Just keep swimming.
It's a lonely feeling thinking no one else is going through this until someone like you shares it. I appreciate your support and I admit it's been a struggle staying out of debt. I need to find ways to motivate myself to not dip back into it.
That car loan 🤯 definitely look into downgrading in car.
Thanks for sharing.
Unfortunately I was also laid off this week. Definitely hurts but we will come out of this on top!
I’m sorry you were affected too. Wishing you the best of luck on your job search. Hopefully my videos help in a small way. And definitely don’t feel defeated because we all will get through this.
Awful news, but I think it's important to recognize how far you have come! I'm sure you'll make it through and am glad you have built up your skillset to help with that. ❤❤ take care of yourself
Thank you for this! I’m a tough critic to myself. I do admire what we’ve accomplished so far and I think this current phase in our lives will only make us stronger when we get out of it.
Never quit your job unless you have another job or income lined up. Even if you hate your job, stick it out until you get let go. Let me say that living off your savings really sucks.
Glad to see you back! RUclips fatigue is real so totally understand why you took a break. I’m hoping you and hubby find roles soon, the good news is that tech is not going anywhere so it’s still a great industry to be in.
You’re so right! Slowly trying to get back into the groove of things here in the RUclips community. Thank you for the comforting words, I’ve been trying to not fall into panic mode.
Wishing you both well! Good luck with everything.
Thank you so much!
So sorry to hear about the layoff! I know you both will get through it and I’m excited to see you back and to follow along on your debt free journey
Thank you, it's definitely a test on our strength and we are determined to turn things around. It always warms my heart to see that some of the community is still here and hasn't given up on me.
The background music is making me sleepy. Good luck with finding a new job! Positive energy
LOL! That is all my husband’s doing. I told him the music sounded a bit dramatic and made me think of those commercials that say “for $5 a month you can provide food and water to these stray animals".
Sorry about the layoffs. Debt isn't that bad if you get rid of the car. Might have to trade it for something less expensive.
Thanks for watching! The car is definitely something to consider if things don't get better.
I say this with both urgency and kindness , that is a gigantic car loan. Get rid of it. I imagine the amount that would put back into your budget would help a great deal. Finance something small. Cars are luxury items and a total money sink. Even financing something small and basic would make much more sense. I can’t imagine pausing retirement, which is your future, but not getting rid of the almost $50,000 car.
That's a shocking number for a car loan! 😮
Thank you, it's definitely something for us to consider.
I too was a bit shocked at that number. Falling off the wagon for me started by getting my paid off car side swiped and totaled. Since I’d hit probably 4 deer with it after moving to the country and being pulled from the ditch too many times to count, I knew I needed 4 wheel drive, living and commuting in Wisconsin. After insurance on my Sonic, my Jeep loan is 19k which I plan on refinancing someday when rates drop (if that ever happens).
I appreciate your transparency.
I figured it’s the best way to be helpful to those in similar situations and it’s the best way for the community to help me. Appreciate all the support here! 🥰
Glad to see you back, but sad that you aren’t doing better than the last time you posted! I’m here for your comeback!
Thank you for staying! I have a lot to learn still and hoping this time around I'll have better news to share.
I can't relate at all. I went and listened to your, "Why I Quit My Six-Figure Tech Job" before posting. You were paid well and with that, someone isn't patting you on the back every moment. With some basic discipline, you could have paid off all your debt and owned a house free and clear. You really sound pretty lazy. Consider the salary your husband use to make and only live on that amount once you both have full-time jobs again. You could also have enough socked away for a college fund for your own children. Delayed gratification is your friend. NOTHING is as sweet as financial freedom. I was able to quit work permanently in my 50s. I'll never have to work again but I busted my butt for decades. With two good incomes, you could do it as well. Make friends outside of work for your deep friendships. For me, it was with the grind.
Hey Rebecca, thanks for watching my videos. You made some valid points about financial freedom. Our debt free journeys are definitely personal and unique in their own ways. On mine, I admit a lot of mistakes were made along the way, but it’s all part of the growth. It’s a very personal choice to quit and one that I wouldn’t recommend for everyone. I just want to prioritize taking care of my health and start a family. For me that’s priceless. Even after quitting, I still managed to put away $45k towards my goddaughter and her brother’s 529 plan so I wasn’t completely lazy. Kudos to you for an early retirement, it’s definitely not something everyone achieves. It’s something I would’ve wished for my own parents.
I love your channel and your importance and your documentation of your journey. It is really inspirational and educational. Cannot thank you enough for the content and for sharing your journey and learnings. Keep it up! Good people help other good people. I think your positive karma will come and help you out in the future. Happy to help however I can.
Wow this is such great feedback to receive and it really cheered me up on a tough day. Thank you for watching and supporting. I hope that good news will come soon, but for now we're working on being patient and accepting whatever small wins we get these days.
Freelance work for both of you!!! Tech skills are in high demand. Enjoy the journey...even the rough patches.
Freelance is something I've been seriously considering. Any advice to give a hesitant partner?
Tech skills are not in high demand. Many layoffs techs can't even find a job and moving back home with parents. Good luck to everyone.
@@khanhcao3123 sure feels that way right now. Hoping we all manage to get through this tough time.
Nice to see you back. Hubby could qualify for unemployment so be sure to apply for that if he doesn’t get a job before the exit time.
That’s the plan if he doesn’t secure anything by then. Would be a first for us to go through that process.
First things first, call your student loan provider and asks what are next steps for getting an income-driven repayment plan (IDR). Do what they tell you immediately!!! Hope that helps and good luck!!!
Thanks for the tips!
Me too girl. We'll get there :) PB and J for lunch for the next 2 wks for me!
Looks like we’re on a similar diet 😄. I have cereal and instant noodles on rotation.
that’s a good plan with your husband’s remaining paychecks. and tapping into your network for leads will hopefully help y’all land on your feet soon. driving for Lyft and Amazon Flex got me out of a dire financial situation. if your channel isn’t monetized - ramp up if you have the mental capacity to do so (your video was on my recommended row so this is my first time watching).
you’ll get through this!
Thank you for watching and supporting the channel! In times like these I tell myself no work is beneath me and we do what we gotta do to make it through. Your words are encouraging and I’m feeling motivated to keep posting videos here.
Sorry to hear about your husband’s impending layoff. Two weeks severance sucks but at least they gave him a 2 months notice. Most folks get a 10 minute Zoom call immediate notice. I’m confused though. Why did you quit your full time job?
Thank you, we are grateful for some time before the cutoff. I know others weren't as lucky at his company. I quit awhile back due to stress and health reasons (fertility and liver issues). Just needed to give myself some TLC. I go more into that in another video if you're curious ruclips.net/video/O8w8GBEoXCM/видео.html. No regrets about it, just regret not managing my money better.
@@TheUnsavvyBudgeter - I totally understand. Health should always be our priority! Wishing you well and I look forward to watching the journey.
Good morning- I’m sorry to hear you’re struggling with jobs. I just stirred my debt free Valocity journey (and RUclips channel). ❤ I subscribed 🎉
Congratulations on joining the debt free group and for starting RUclips! You’ve got this and I look forward to following along and cheering for you on your journey. ❤️❤️❤️
I stumbled upon your channel, and I wanted to say this. Regarding student loan forgiveness for everyone, the chance for it to ever happen is extremely slim to none. I do not mean to say this to discourage you or to make you feel worse. But it makes me very sad that so many people have been giving false hope.
I hope your situation will get better. Hope you husband will get a job soon. Stay strong you will get through it.
Thank you, I didn’t have much hope with the student loan forgiveness. I did get approved for it and it would’ve been $20k cleared but I felt doubtful from the beginning. Back to a payment plan for us.
Glad to see you back. Oh no, sad to hear about hubby. Completely makes sense to try to increase cashflow by reducing retirement and taxes.
It’s not the financial move we would’ve wanted but it really is helping to ease the stress. Just need the credit card debt gone and that would take a lot of weight off my shoulders. Gotta keep telling myself this is all temporary.
If I was you I would sell the car and get a clunker until your in a better position or put the car to work and start driving for Uber eats or Uber Lyft etc. That might just be what gets you from point a to b
Shoot the off days...the hopeful days... n the inbetween. Alot of people are either going through this or go to sleep at night with the fear of being laid off. So many are desperate for somewhere to go to find hope.Many youtubers record the first video but then dissappear. If you keep at it, You will be surprised to look back n say "who would have thought!!!"
In simple terms: don't overthink the content. Your current situation is the story❤
All the best
Hello it me 🙋🏻♀️chronic overthinker here lol. Thank you for calling me out, I needed to hear it. You’re right, we all need support and a community during these tough situations. The focus is to get value out there as quick as possible and not overthink those trending video edits. Appreciate you!
Severance does impact eligibility for unemployment in the state of GA. Your husband should be able to draw the maximum benefit of $365/wk but it may be delayed due to him receiving severance. Call and check into that if he doesn't find another job by October! Does he contribute to an HSA at work via payroll deduction? You can reduce your employee contribution due to emergency situation--talk to HR. Lastly, the new car may have to go. See what it is worth online and sell (private sale because you'll get more) it if you're not underwater on it. Then go down to a one-car family or buy something used for about $12,000 or so. Sorry you have found yourselves in this position. Door Dash, Target, and other places need workers and pay decent. Good luck ❤!
That's good information to know about the severance. Thank you for sharing that knowledge. We did consider reducing our HSA contributions, but my medical bills have been pretty high and that HSA fund has been a big help. We figured it was best to max that out for as long as we can.
Why did you quit your job? If you needed the income you should have worked hard so retirement comes fast. Good luck and hopefully you will both get a job.
Hi Martha, thanks for asking. I realized my job was causing a lot of my unhappiness and stress. The money at the time didn't feel necessary and once I saw the toll the stress took on my physical health, it just felt like it was time to prioritize myself and my family. I've been feeling healthier than I have in a long time so I don't have regrets. I just regret not being smarter with my money. Feel free to check out my video where I go more in depth on why I left ruclips.net/video/O8w8GBEoXCM/видео.html. Thanks for watching!
New subscriber here ❤❤
Thanks for subbing!
I want to know what math went into going into this crazy debt. I only find it logical If it was a medical reason anything other then that Is just keeping up with the joneses. best luck though
There wasn’t much logical reason to it. It was overindulging and not being prepared for large home repair expenses. But it’s another valuable lesson learned and if it wasn’t for this layoff we would’ve kept delaying funding our emergency fund.
Oh noooo I have some work from home videos maybe you can find an IT job I don't know if this helps. I hope you are able to find an income soon. In the meantime, I will subscribe and watch all your videos with commercials to help.
That is so nice of you! I will make my way over to check out those videos. This community always surprises me in the best way.
Move back in with mommy and daddy.
😮 Do door dash or anything 🤔 don't be too proud 😢
🙏🏾🙏🏾🙏🏾
well you should have found another job after you quit your tech job, you have a year to get a new job before.
Thanks
do you need the car?
We don't, but with it being an electric car it has saved us quite a bit on gas. Not enough to beat the monthly payment, but it's something we're considering when there's no other options.