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Hunkering down during the next recession


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On 25/10/2018 at 16:56, pathfinder said:

Lost my job last week, feels like 2008 pre crash to me. My contract ended the same way 2008 (I am working in the same place again lol). work trickled down from manic to 1 day every other week. This work ranges from feasibility, flooding models, to sites modelled in 3D (lots of lakes, mounds, and paths) for construction. So either its far in the future investment or on site being built. Last time the investors for new projects just vanished .... here we go again :D.

Our minimum out goings as a couple in 2008 was in the region of £1000 a month. Now the flat is paid off its just £500.

We are fully hunkered down, if this is the one.
 

Thats great you have used the time to get ready.My outgoings are £330 a month to run a 3 bed semi + £100 food and £80 car.Iv just taken a job and i get 6 months living expenses for each month i last there (£3k net a month).Iv got my small business on tick over mode (fixed costs £20 a week,profit about £100 a week at mo).Once i get laid off or leave il be seeing out the deflationary bust in my front room and garden mostly.I love recessions,and this bust will open the door to fantastic investments for the next cycle.

Edited by durhamborn
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47 minutes ago, nothernsoul said:

I would say 800 quid per month ,  in a small property to live okish, with sensible but not punitive budgeting, in uk. Two hundred quid for bills and council tax, then 150 a week everything else. 

I think thats very true and is my experience.Iv lived on that for a few years through choice.I see it as £800 minimum income for everything including enough some spending money.£1000,nice extras added on, and £1200 a month,very nice life indeed.

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£500 is full survival mode (don't drive, no TV, no dependants). Defo £1000+ would be more like an acceptable existence.

Either I start running a small business from home, 3 day a week job again, or a mixture of both, we'll have to see.  Getting the old job (3 day a week) back will take 5 years if its like last time. The company went full on Apprentice's, as the main work was no longer coming in.

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14 hours ago, Fishfinger said:

Actually about ... £500.

£750 to £1k and you can live comfortably (but no flash cars/holidays).

 

Yes, many live comfortably on under £1k a month, they have to....two people both on between £500 and £1k no debt, no wasteful spending, resourceful, creative, low fixed costs could look like they are doing better than others on double that.?

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Anyone can write a CV truth or fiction, a bit of both, or can get somebody to help to write it for them.....why a guy once told me someone took their driving test for them, not shocked at that.....that is why a good interview technic, some research with a good practical test is worth a thousand words.?

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