December 8, 2008

The Unemployment Rate Just Went Up A Tad

My wife was informed this morning that her last day with her company will be December 31st. We were expecting it, but now it is real.

She is already on top of the search for a new job having updated her resume and cover letter last week and requested letters of recommendation. She even applied to a few companies over the weekend and updated her profile on job search websites.

We’ve begun taking a look at were we can dramatically reduce our monthly expenses and have started gathering information on unemployment. My wife has a few vacation days that she will cash in before her last day. More importantly, my wife found out on Friday that she will receive a $3,544 quarterly bonus on 12/15. Thank God for his perfect timing. She also learned that she will receive another quarterly bonus in March, even though she will not be with the company.

With ~$450/week for employment and earning the rare buck or two baby sitting our neighbors child, we shouldn’t have to pull any money from savings for quite some time.

There’s a lot happening right now, I’ll keep you posted.

11 comments:

Chicky said...

o sorry to hear that. Sounds like your wife will have some money on hand when she leaves which is always good. I am curious how long it is going to take her find a new job. I know that she is hardworking, smart girl so normally it should not take her so long.

WorkHomePlay said...

I wish you and your wife the best of look in her job search. She sounds like a highly qualified individual, and that type of person will find a suitable job.

1MansMoney said...

Thank you Chicky and WorkHomePlay. In this economy it may take awhile for my wife to find another job, but e are faithful that everything will work out fine.

-1MansMoney

J. Money said...

What the F man, i'm sorry that sucks :( she *just* got that job! man...and it sounded like a great one.

but she's already on top of searching, so that's good!! we're all here for ya brotha if you need anything.

1MansMoney said...

Thanks J. Money. It does suck that she just got the job and we sold one of our vehicles (at a loss) because she had a company car. We'll get through it, but it might not be fun.

-1MansMoney

The Frugalist said...

So sorry to hear about your wife losing her job, but at least the bonus will help quite a bit. Good luck to her in looking for a new job

1MansMoney said...

The Frugalist - Yes, the bonus is a God sent. It's going to bloster our savings and provide a bit more cushion. Thanks for the kind words.

-1MansMoney

louise said...

sorry to hear about the job loss and all the best in the job hunting.

1MansMoney said...

Thank you Louise. We'll get through it, hopefully sooner rather than later.

-1MansMoney

Andy said...

Sorry about the bad news. But sounds like you have a great plan in place to whether the storm.

1MansMoney said...

Thank you Andy. We've been in this position before, but had even less in savings back then. We are faithful that it will all work out.

-1MansMoney