Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Libloather
I got bit when oil prices crashed in 2009.

First thing I did when I got laid off was to review the bills. We trimmed an amazing amount of 'fat'.

Strip the budget down to essentials (food, shelter, fuel/utilities), really wants, and stuff you can readily live without.

Cut the stuff you can readily live without.

If there is room in the budget, keep a couple of 'really wants' because life is pretty rough if you don't have a treat of some kind, provided you can afford it.

Morale is important.

I found spot jobs for extra cash, worked part time to augment the UI, and finally found a job that would (barely) pay the bills, even though it was gross underemployment.

I passed on the COBRA insurance (too expensive, and I don't take any daily meds), banking that my health would stay good enough that I could afford a little out of pocket to see a doctor if I needed to. That stretched the savings considerably, and I kept the high deductible catastrophic care policy I have kept for years because the employer provided (well, half-provided) plan did not seem to be solidly guaranteed working for a small company.

Those cuts and about 20K in savings bought me the time I needed to start my own business, and things are going pretty well so far, but I'm in the middle of the Bakken boom, and I've been in the oil patch for over 30 years.

There are jobs up here still for those so inclined, but housing is at an absolute premium, and even places to park a camper are hard to come by.

102 posted on 06/01/2011 8:37:24 PM PDT by Smokin' Joe (How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: Smokin' Joe
but I'm in the middle of the Bakken boom

I talked to a plumber that went up there to check things out. He said the rent for a one bedroom was so outrageous that he could hardly put any money away.

211 posted on 06/02/2011 5:56:27 PM PDT by Sawdring
[ Post Reply | Private Reply | To 102 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson