Sorry Guys and Gals...
the thought of "the job market may recover" is just tom foolery for many of us. It has been a down hill roll the whole decade and any one who thinks it is going to recover soon....well I'd rather be broke on a boat, than broke with NO place to live.
How do you get back to a position of financial strength, when a job is lost. I am here to tell you that you can not put the brakes on fast enough to stem the bleed. And if you own a house, you have two choices - walk away, or give it away. That market is GONE.
So to Karen and others in our situation, you have hard choices to make, that many will never have to - because they have a job. With no cash flow, you are truly in the pickle...and the thoughts of you paying college for your kid is out the door,
or waiting....all of you with such great advice - how do you survive "until the great turn around" when your old expenses and the new ones like health care that you will have to pay at +100% rates, if you can get them are now 500% of your take home pay...
sure you get Cobra subsidy, that will knock off some, but now with the extension...you get to pay full premiums until the insurance/employers get the official word...How do you get an additional $750 for the next three months..
Get the boat, hold your family close and I will tell you that the stress will be far less than the unknown of waiting and watching what cash you have flow out while "waiting" for things (totally out of your control) to get better.
All the best...and to those of you who are not in a similar situation (i.e. you have a job, with benefits) - you have NO idea what this is like. So suggesting to someone to "wait it out, it will get better" is so unrealistic as to be laughable.
dave, been there done that nothing left