Reply to: Are you tightening your belt?

[BlackenedBiker]

A year ago I would have said that, it does sound plausible. But I have just had 9 months out. I am well qualified for the jobs I was applying for, but there just weren't many of them. In some cases I know that they went to people whom I know were less well qualified than me. I do not know why this was.

The market in my skills had a bad cold and will never fully recover, but as far as I can see is not totally flipped. Yet.

I suppose my working definition of that is that it is still better than any other career that I could now go in to. So it's not great, and the glory days will never return IMHO, but it's still the first choice.

Indeed that would indicate the market being flipped, which we all know it is.

But if it is flipped for over a year, then a good business man needs to find an alternative, whatever that might be. Be it permie-dom, temp job or re-training.

I wouldn't personally want to sit around for over a year. It would drive me crazy.

I hope you have found a gig. If not good luck with the search.

[VectraMan]

Just noticed Tesco do 0% for 12 months on purchases, which is more useful. Still have to find the minimum payments though.

[scooterscot]

Apply for virgin credit card - 0% for 16 months and do a balance transfer

debt

[VectraMan]

Apply for virgin credit card - 0% for 16 months and do a balance transfer

Been there, done that.

[sweetandsour]

If only I had a belt to tighten - I've sold it and am using string.

[FiveTimes]

We have cut right back, trimmed the standing orders and are being careful on the food shopping. As it stands things will be ok for a good while but I don't like eating into the savings

[FiveTimes]

I've started paying everything with credit cards and not looking at the bills.

But I still have money in ISAs I haven't touched yet,

Apply for virgin credit card - 0% for 16 months and do a balance transfer

[VectraMan]

I've started paying everything with credit cards and not looking at the bills.

But I still have money in ISAs I haven't touched yet,

[DaveB]

Sitting tight in my permie job for the forseeable and plowing cash into the mortgage offset in the meantime.

Have cut back on a lot of unessesery spending over the last 12 months. Bonus is getting paid this year though, so that will be split between savings, holidays and getting a few bits and bobs done around the house.

[Julius Caesar]

If you can't get a job for a year then either the market is completely flipped or you are not qualified to get the jobs you are applying for.

A year ago I would have said that, it does sound plausible. But I have just had 9 months out. I am well qualified for the jobs I was applying for, but there just weren't many of them. In some cases I know that they went to people whom I know were less well qualified than me. I do not know why this was.

The market in my skills had a bad cold and will never fully recover, but as far as I can see is not totally flipped. Yet.

I suppose my working definition of that is that it is still better than any other career that I could now go in to. So it's not great, and the glory days will never return IMHO, but it's still the first choice.

[DiscoStu]

I'm saving and saving.

In fact the last extravagant spend was a new central heating system some months ago and I've no intention of increasing my spending until I can afford a good year without pay.

Me too. After being messed about with renewals I've become increasingly paranoid about being benched again. This year is all about the warchest.

[scooterscot]

If you can't get a job for a year then either the market is completely flipped or you are not qualified to get the jobs you are applying for.

Either way you need to change career.

Keeping more that a year in low interest accounts is dead money and probably should be avoided in most cases....

Well at least I know where you're coming from.

I'm taking a year off work through choice not redundancy. That's why I contract, last year I took 5 months off, 2 of them were not planned 3 were.

[BlackenedBiker]

Only a year?

If you can't get a job for a year then either the market is completely flipped or you are not qualified to get the jobs you are applying for.

Either way you need to change career.

Keeping more that a year in low interest accounts is dead money and probably should be avoided in most cases....

[scooterscot]

Only a year?

You're right, who's to say the mess of the past 24 month will not be repeated, I have my doubts.

I could expedite my war chest if I stopped contributing £1K+ into my pension every month, but that seems OTT to me..

[BlackenedBiker]

I'm saving and saving.

In fact the last extravagant spend was a new central heating system some months ago and I've no intention of increasing my spending until I can afford a good year without pay.

WHS.

Once the warchest for a year is back in place (took a big divi last year to knock down the mortgage) I will think about withdrawing over the bare minimum...