Does this recession talk scare you?

Not really, if Ben lost his job it wouldn't be the end of the world (it would suck a lot tho) hes just a genral labourer and they always seem to need more of them. We have survived on very little money so I'm not too concerned. If we had a morgage and loans I'd be a bit more concerned.

While I think the media hypes it up a bit like others have said (as they do with everything), I also think its a stark reality and people need to realise the good times are over and now is the time to plan ahead for the next 5 years, no just next week.

For us, DH is in the army so has job security, but I work at a law firm and the only reason I haven't been made redundant so far is because my mum is my boss and has kept me under the radar. Now I only work 10hrs/wk and get paid nothing compared to what I would if I was teaching, but its great hours and an easy job while I'm bringing up the kids. I am starting to get really worried about what will happen to us if I do get made redundant (which I've basically been told will happen within the year) as I was studying before I had kids so haven't been in the workforce for a continual period of time and don't qualify for the bailout redundancy package.

I've also seen the figures that have been released to business leaders recently for projected growth over the next 5 years and that alone has scared me enough Other factors including our aging population (which in 20 years will mean we have more people retired than working = no superannuation if we keep at the current rate) is all adding pressure to the economy and the government. Something's gotta give, and just like 70ish years ago, it will, and soon. At least we live in a day and age though that we will bounce back quicker. None of this poverty for 20 years crap, we'll be fine in 5 if you believe all the world leaders.

It hasn't worried ourselves too much as we are on two incomes with no children just yet - but not 100% sure on the future.

DH is pretty sure that he is safe as he works in finance IT - they look after two big banks in Auckland and there are only two of them in the Auckland office. In saying that though, they could do it remotely from their main office in Melbourne but DH tells me it is not likely.

My job is safe as far as I am aware (but stranger things have happened!) Being in the hotel industry, we are certainly feeling the pinch due to the drop in tourism numbers however no-one in the hotel has been made redundant yet. We have had people who have left the hotel over the last few months and some have not been replaced so we are pretty lean now which is good. We are in the process of doing a 'worst case scenario' so that we can have an action plan of what to do if we drop to a certain occupancy/revenue - hopefully we don't get to that stage and hopefully cutting my job is not on the list

The scary thing is 4 of my best friends have been redundant (all different industries), my MIL also just recently too. And another of my friends is 99% sure she won't get paid this week as her company is about to go under.

Good things have come out of it for some of my friends who have lost their job though - one got a payrise of $20k going to another company doing something similar and one got a $7k payout from her workplace as they stuffed everything up with her redundancy

Edited by monkey33