Monday, January 5, 2009

Hope for the Best, Plan for the Worst

I found Suze Orman last year and her book Women and Money really changed my life. I think that I have talked about this before, but I have spent a good amount of time the last week or so working on the items that we still have outstanding, namely, the will, revocable trust, power of attorney's and life insurance.

I am proud to say that we are almost finished! I am still working on the trust and still need to make some phone calls regarding the life insurance, but we are almost fully protected (of course, they will all have to be changed once we have children, but at least we are taking steps to protect ourselves in the here and now).

We have also paid off everything that I charged while in China, and only have about $400 left in credit card debt to pay off. We have cut our expenses down to the bare bones and are trying to build up the savings account.

We are doing all this in preparation for the impending layoffs that have already started at work. I feel like I will be on the chopping block as my position is a fixed cost, nothing I do saves the company money or brings in money. These are the types of positions that will be the first to go. I am not as worried about Smug-Hub's position, but no one is really safe!

I hope that I will be able to keep working there at least part time or even have all the various departments with which I work will agree to take on a portion of my salary into their budgets. I am hoping for the best, but planning for the worst.

I think that the best layoff option would be for me to go part time, but only after I get pregnant - since this is what I want to do anyway :)

The plan is to save like crazy, and get to the point where we can survive on his salary alone. We are trying to be really smart and I really hope that we are able to come out of this economic crisis smarter, but unscathed!


  1. Economically, these are scary times. My job is up in the air also, Smug. I sure hope your job lasts long enough for you both to get your savings in order. And that nothing happens to Smug-Hub' job!