Threat of unemployment looming....

Sweetie, now is the time too, not spend on things we do not really need. Turm around that penny and save it for a rainy day. TATA.

My husband is just like you. He makes great money but never saves a penny. He lost his job two weeks before Christmas in 2008 and didn't find another one for four months. I was fighting Social Security at the time for disability and had no income. We were hurting plenty, believe me! We almost lost our house. He did a bit of side work so we had money to buy food and pay things like the electric bill but couldn't pay the mortgage. His new job pays even more than his old one and you'd think he would have learned a lesson but, nope, he still won't save a penny. If it weren't for me, we'd have nothing to fall back on, just in case. I received disability late last year and received a large check for the arrears (10 years worth!) and have put most of that in the bank and told him it is NOT to be touched, under any circumstances. Since it is in my own personal account, he can't touch it but he still tries to get it from me and gets angry when I won't give him any. I've taken over some of the bills and pay for food and miscellaneous household expenses so he SHOULD have at least $700 a month to put into savings but he doesn't. He spends it on gadgets and stupid things that he wants. THAT'S why I won't let him touch my money. I don't EVER want to go through that again! You really should try to put a little away, even $5.00/week. It adds up, you know.

The world economy is very uncertain nowadays. The recession came without any signs and caught a lot of people in surprise. It's a pity to see the massive lay off by the companies and corporate. A lot of people losing jobs which lower down their buying power and further weaken the whole economy. This is a vicious cycle. Therefore, we should improve ourselves to possess better competency. This will help us find a new job earlier. Besides, we should learn on financial planning. It's extremely important when we lose our job or capability to work.

The prospect of losing your job due to the failing economy can be really scary, especially when you are barely making ends meet with the job and have no savings to fall back on in times of greater need. I am pretty fortunate, though, as I can never be fired from my current job ... I am a stay-at-home mom. That being said, times are tough financially, but it is still the right decision for my family. Hopefully when we move, though, it will make it a lot easier on us financially not to mention that we will be closer to family.

Hi, It is true that global economy hasn't yet recovered from the mess of 2008-09. But it is as true as any inevitable law of physics that after such a downturn economy always finds an upward turn. I am quite hopeful that our economy will soon be stable and new job positions will open up. What we all have to do is to have patience for a few more days. This is good time for students who is into applied fields. This education is working like a crossbow holding an arrow. As the economy recovers these arrows may be shot and they will surely hit the target. This is quite an opportune moment that we revitalize and hone our skills. We will be needing them soon. Thanks God bless you

I had a pretty nice job a few years back. It paid well and the benefits were good. Sure the clients were horrible and the work was stressful but it was alright. I got laid off with about 500 other people. That part of town fell apart due to loss of business they used to have from the employees. I got unemployment and it honestly barely paid my bills. I decided to try for another job. This time it was a poorly paying, horribly stressful, part time job. And due to health problems, I am on the verge of being fired for missing too much work. How do I cope with that? Urm... well I freaked out at first and got sicker. Ha that was a bad idea. Now I'm trying to just adjust. Accept. And try my best to look for a new job. There's not really any jobs available here and it's going to be near impossible, but what else am I supposed to do other than keep on trying?

Actually money is really for spending, but if you spend it to buy a lot or condominium as your investment you don't have to worry for the rainy day. You will have a money working for you. If you have job right now, save the money you are earning after paying your bills, it is more secure if you have savings for emergencies. If you are not the type who will saves, I wish you do it now or else you will have a problem living in the future. Actually those people who have jobs are struggling until now.

Working harder, updating resume, looking around to see what jobs are available, spending less...

Thinking about this can be scary. That is why whenever I can, I just keep on updating my online tasks for future use. Although the earnings online aren't much, but at least you have something to look forward to in the future. Like me for instance, I have four sites from which I earn some extra cents everyday, but they add up. Some of these sites I need to wait many months, sometimes a year before reaching payout, but anyway, it is better than nothing. I am also starting to save little by little. I hope things will improve in the near future.

It's a tough world and life can be so unkind but we gotta do what we gotta do. Not having a job for a month is like torture. Like you I don't have much saved either, as there are bills to pay. I got hold of this book called "What Color Is Your Parachute" and it really helped me a lot. I hope you can get a copy of that too. It's a very helpful book for job hunters and career changers. Best of luck!

It is very concerning for me especially because I work in a field that is so easily and often outsourced now days. I think that the best way is to try your hardest to be indespensible in your company. This is so much harder when you are in a huge corporate environment that will never really know the kind of job you do. I worry about it to a certain extent but then hope they realize that they need me.

Actually , it is partly our fault. Recessions are caused by lack of demand for Goods and services, which results in decreased demand for labour by firms in general. This decreases employment and hence decreases the income of consumers in general. Thus this leads to even less consumer spending and more job losses. So , we consumers do have the power. When people start thinking that "oh, I might lose my job , so I'll save" this leads to unemployment. So the best thing people can do is to continue spending in a normal fashion. I'm not saying that we are in total control of our destinies though as I do realize that when big companies go down , the domino effect which causes all the other companies associated with it to go down as well ,results in lots of unemployment. So big message to everyone: keep spending.