We've been on pins and needles all week waiting for my husband's employer to announce their new "aggressive actions" for cost savings measures. They have made numerous company wide job cuts, so we feared we were going to be a national statistic.
I created a plan. A survival plan. IF his job was cut, and IF he was able to collect unemployment, we would survive. We would save on childcare as I would expect him to keep the boy home a minimum of 2 days per week, I would cancel our home phone - which we have talked about doing forever since it's a nuisance and we never use it, we would shop around for better auto/home/life insurance rates, we would buy the bulk of our groceries at ALDI, and I would CURB my spending. There is often the opportunity to pick up extra work with his brother, so that would also help fill the gap. It really would be OK. We could do it.
My employer seems to be going strong, as we are sort of a necessary evil. We've had a banner year as far as profits are concerned, and just last week were catapulted into a half a million dollar project. A great way to wrap up the year. Additionally, I asked for and received, a 12% pay increase just a few months ago. We've hired 2 new employees in our Toledo office in the past 3 months. I couldn't be happier with my employer right now.
We've talked about refinancing the house since the rates have dropped to an all time low. I'm concerned about hour home value since there are so many foreclosures and short sales in the area. I think we would be disappointed in our home's current appraised value and can't really deal with that disappointment right now. The cost savings would be nice though.
So, the agressive plans were announced on Friday. They are cutting ALL employee salaries by 10%, effective January 1. Effective July 1, they will give back 5%. Bonuses and merit increases are suspended, as well as 401k matches.
Agressive? Yes. Can we live with it? Yes. Does is royally suck? YES!
The insluating project (that was on hold pending the outcome of this announcement) is back on. And we're going to have a splendid Holiday.
I'm making changes to my spending habits. I purchased a $119.99 pair of Sorel snow boots on endless.com 2 weeks ago. They are a little big, but I thought I would try them on with socks and wear them around a bit before I decide to return them. I really need snow boots as my old pair got trashed last winter and I had to throw them out. I have nothing "snow proof" to wear on my feet. I tried them on again. They really are too big. So, I boxed them up and will ship them back tomorrow. Yesterday at Target, I thought..."what the heck, who says I can't wear snow boots from Target". I found a pair. They are REALLY cute, and I wore them last night to the tree lighting ceremony in my neighborhood - and they are WARM, and COMFORTABLE. And, did I mention...really cute! They were $39.99. See what I did. I just saved $80! I'm on the right track...right?
I just purchased holiday cards online. I have spent over $70 on holiday photo cards the past 2 years. I saw a friends "feed" on facebook about a site called vistaprint. I hopped on, found a layout that I like, uploaded a photo, and ordered them, for $11.99! WOW. That's good, right? I saved a ton of money.
I'm getting the hang of this...this whole living on a budget thing. Or, at least I'm trying. Baby steps. Which reminds me...I need to go thru the boys old shoes and see if I can sell any of them on eBay!
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