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IVFGirl1111 
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Location: New Zealand
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 Topic: Does this recession talk scare you?
Posted: 27 January 2009 at 9:40am |
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There is SO much talk everywhere you go about the current world recession - does it make you a little scared?
Are you doing anything different because of it?
I just read that 70,000 jobs world wide went over night - that is crazy!
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TTC 6 years
IVF it is
IVF/ICSI round one
10 eggs, 8 mature, 3 fertilised BFN
IVF/ICSI #2 = 22 eggs!
20 mature, 15 fertilised, 1 fresh transfer and 2 frosties
BFN
2 Frosties still in freezer thank god
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Snappy
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Posted: 27 January 2009 at 9:46am |
A little... Im supposed to be resigning after being on maternity leave, and its got me thinking I may never get another job again!
DH said last night that one of his friends at work lost $3k or something on his Superannuation fund because of the recession?!
Oh well, more of an exuse to stay at home for a few more years 
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Mummy to two beauties... Formerly Kaiz.
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MrsMojo
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Posted: 27 January 2009 at 9:54am |
Not really. My DH is in a good job that is important to our beef and venison exports and being a great worked in a medium sized organisation he's managed to get recognised by people above him.
I work for a large company in the finance industry so I might be concerned if it weren't for the fact that my team does a specialised role that noone else in the company knows how to do which is necessary.
Having said that no-one is indispensable but I go through life with the highly optimistic view that everything happens for a reason and whatever happens to our jobs is for the best.
RE: superannuation funds, I'd only be concerned about that if I was close to retirement. The nature of unit linked investments is that they are volatile and tend to rise and fall but even out in the long run. IMO the best thing to do atm if you have a unit linked super or savings plan (and can afford it) is up your contribution, you'll buy more units at a lower price and when the unit prices increase you'll be sitting pretty. Now is not the time to opt out, if you can at all avoid it.
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fire_engine
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Posted: 27 January 2009 at 10:02am |
It struck home when some of DH's workmates were made redundant. We think we're in an OK position but it does get sobering. We haven't really cut back yet (hey, the Reserve Bank Governor said we need to spend money to stimulate the economy - I'm just doing my bit for the nation ) so could cut back if things got tighter.
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Emily281
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Posted: 27 January 2009 at 10:06am |
Not really. My DH and I are both in good jobs (although my DH is about to start a new one).
We have cut back on our spending, but only because we were spending way too much money on crap and not actually saving any money which we want to do ready for when I (hopefully) go on maternity leave and we are down to one income. That's a thought that does kind of scare me because I wonder how we'll cope on one income, but I try to remember that DH's income is more than some families and if they can do it so can we - we just have to stop buying so much stuff we don't need 
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TTC#1: Jan 07
Aug 08: Lap found and excised Stage 3 Endo
Nov 08: 2nd lap clear - given OK to TTC after next AF
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caliandjack
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Posted: 27 January 2009 at 10:07am |
Its effected me, I got made redundant last year, and am only on a temporary contract. Thankfully DH works for the government so at least his job is secure, wont help if he gets transferred to Akl and I have to look for work again.
Being out of work for a month and having DH to support me, was tough going, may have to re-think my plans to be SAHM.
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  [/url] Angel June 2012
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CuriousG
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Posted: 27 January 2009 at 10:12am |
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It does scare me a little purely because we are TTC and I am the major breadwinner in our house. This, coupled with the fact that they are looking to outsource our roles in the Infrastructure Team by the end of the year means I will probably also be made redundant.
We are simply tightening our belts, sticking to our budget and putting any extra cash torwards paying our CC off and into savings. I am kind of hoping we will be made redundant and I will get a pay out (which I am entitled too), plus my super scheme payout and an extra bonus that they have to pay if you do get the chop.
We are prepared for the fact that we may have to live a very simple life for a while and that I may also have to go back to work part time in a job that doesn't pay much but helps us get by.
I am just scared of not being able to pay the mortgage. That would be devastating.
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clover
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Posted: 27 January 2009 at 10:36am |
70,000 jobs sounds like a lot, but when you consider that is world wide it puts it into a little more persepctive. I'm not too bothered myself. Like Jo I work in the finance industry so I've got all the advice I need at my fingertips. I work for a small organisation with a very stable position, DH is a little more exposed being in sales/business development but I am sure he would have no trouble picking something up if he were to be made redundant. We can live comfortably off either of our salaries alone so are lucky in that respect.
Flissty is right that we need to keep spending money, that is what stimulates the economy. If we all keep our money in the bank because we are too scared to spend it that is what will cause the country to slip even further into recession. Money really does make the world go round
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minik8e
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Posted: 27 January 2009 at 10:37am |
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I am a little - DF's job is in an industry that is affected (civil construction) and they have cut their hours right back to 40hrs/week. He was doing around 8-12 hours a week overtime last year, on a regular basis.
For me, I'm also a little concerned as there is talk that things may change at the end of the financial year, which may mean the end of our local offices. I would get a small redundancy payout but it would only cover 6 weeks of the mortgage.
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Mum2ET
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Posted: 27 January 2009 at 11:09am |
yeah it is starting to affect us. my work imports a lot of products using the US dollar so that is now starting to affect us a lot, and a couple of us have had to cut our hrs back. DH job is pretty safe in the bank and he is really busy. Because of it we are probably looking at delaying at TTC #2 for a year as we want to wait and see what happens.
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IVFGirl1111
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Posted: 27 January 2009 at 11:13am |
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It scares me a little bit, one of my good friends who was in a very secure job has unfortunately lost her job, they have annouced they wernt doing as good as they thought - which is took everyone by complete surprise!
Thats the thing that sux is you think things are great but really you have no idea whats going on!
Things like Mountain Buggy pretty much going under, empty shops in malls etc - it IS scary, and you think if you do have to find a new job then there is that many more people your going against to try and get it!
We are just really tightning up and paying off any bills that we have. We upd our mortgage payments a couple of years ago to pay it off quickly while we are on 2 incomes which was good.
And now petrols gone up 10c AGAIN damn it!
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TTC 6 years
IVF it is
IVF/ICSI round one
10 eggs, 8 mature, 3 fertilised BFN
IVF/ICSI #2 = 22 eggs!
20 mature, 15 fertilised, 1 fresh transfer and 2 frosties
BFN
2 Frosties still in freezer thank god
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MamaT
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Posted: 27 January 2009 at 11:39am |
It hasn't really affected us too much. Although in saying that, we have been tightening the purse strings lately, mainly because FH is looking for a full time job and is currently only working 15 hours/week (he finished studying in Nov). So our income has declined and of course so too has our spending. But, it is not due to the economy.
IMO the media tend to blow these things out of proportion a bit which makes people start to freak out.
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tishy
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Posted: 27 January 2009 at 11:52am |
Not really as both me and DH have pretty secure jobs.
It does mean that our decision to stay in NZ is temporarily out of our hands as Ireland has been hit a lot harder by the recession so it would be very difficult for us to move back.
The good side of that is that no one asked us when we were moving back when we visited over Xmas. In fact most people said 'Stay where you are!'
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caliandjack
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Posted: 27 January 2009 at 12:00pm |
The main thing I found is DH's salary covers the mortgage, it was our living expenses like food, petrol, power and phone to cover also on 1 wage. Doesn't help that they all seem to have risen in the last 6 months.
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[/url] Angel June 2012
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GuestGuest
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Posted: 27 January 2009 at 12:03pm |
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It worries me most when I listen to the radio as the media seem to hype it up a lot which really annoys me.
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Danaj
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Posted: 27 January 2009 at 12:20pm |
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DH is a builder in the Army so his job is secure, but we've been very thank ful that he is not working Civy or we could be in trouble. Some of the guys at his work have lost 7k on their super funds but that could change quickly enough.
I hope it changes as we were hoping to buy a house next year and 20% compared to 10% deposit changes things alot.
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busyissy
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Posted: 27 January 2009 at 12:29pm |
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I guess what concerns me most about the recession is when I hear that some companies (big ones mostly that my DH and SIL work for) are preparing for a depression. That puts it in a whole new ball park. But I guess they have to prepare for a worse case scenario.
We have cut back where we can but have never been particulary wasteful or very big spenders.
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Emily281
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Posted: 27 January 2009 at 12:38pm |
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At this point you wouldn't get a mortgage with 10% deposit. We met with our lending manager last weekend and he was saying that no one is doing loans for over 80%. Even though we were only extending ours by $10000 and we are both on good incomes and according to the bank we should have over $3000 left over at the end of each month, if the extra we wanted to borrow had taken us over the 80% limit we wouldn't have got the extension.
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TTC#1: Jan 07
Aug 08: Lap found and excised Stage 3 Endo
Nov 08: 2nd lap clear - given OK to TTC after next AF
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T_Rex
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Posted: 27 January 2009 at 12:41pm |
It definitely makes me nervous. Especially at the moment we have 2 good jobs between us, but if we TTC then in reality thats going to become 1 job, which leaves us a lot more vulnerable if DH loses his job. Its hard, because we've put off TTC until we've got the house and the careers and now that TTC is next on our list, it looks like the economy is threatening to make us wait even longer.
I've just spent 6 months in America, where the recession is much more advanced than here, and its horrifying to see how bad it can get. So many people who thought they had secure jobs are finding not only have they lost their jobs, but they aren't able to find new ones. You might be a vital part of your company, but if no-one needs your company anymore, then there goes your job.
Of course, NZ isn't in such a bad situation as the US, but it still makes me nervous. If it does get really bad, then waiting it out before TTC would make sense... but I wanna TTC now
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Emily281
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Posted: 27 January 2009 at 12:44pm |
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Hi T-Rex -we're kinda in the same position as you. My DH is starting a new job next month so his job will be less secure than it is now (although I can't see the company he's going to work for going under) and I'm worried that he's going to want to put TTC on hold but we did the same as you waiting until we had a house and everything and we've been TTC for 2 years now so while it might make sense to wait 6-12 months there's no way I'm going to!
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TTC#1: Jan 07
Aug 08: Lap found and excised Stage 3 Endo
Nov 08: 2nd lap clear - given OK to TTC after next AF
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Does this recession talk scare you?
