CNN Money is running the stories of people who were laid off from their jobs & now are making much less than before. Cleverly titled Take this job – or shove it, it gives the stories in the subject’s own words.
(I would like to add that I think all of the from-their-point-of-view slideshows, such as the one about gas prices and a different one about layoffs, are a stroke of genius. Hearing someone describe their problems, rather than reading a description from an impassive journalist, makes it almost haunting. Thumbs up, CNNMoney!)
The saddest thing is that none of these people planned for it. I want to shake some of them, like, “You moved to New York to find a job in banking in June?? Do you even read the newspapers?” As I was reading, I found myself cataloging their mistakes.
The guy making $55K/year is going on shopping trips to Saks? I make more than that & I can’t afford to shop at Saks!
The ex-VP was helping his kids out with car payments. This always sounds like a good idea, like a nice thing for a parent to do, but my belief is that it weakens both the parent and the child. The kid depends on Dad for money & now Dad doesn’t have anything saved for his own future. The guy is 61, he should have been OK to retire.
The same guy who moved to NY in June to find a banking job (he moved there without a job! How could he think that was a good idea? In banking? Seriously?) describes his lifestyle before his move – “going out every night, having fun.” Well, it’s no wonder you lasted about 2 weeks in NYC, then.
It’s easy to shake my head & criticize the choices these people made, while I sit at work and blog. I have my shiny emergency fund & enough money to finish planning the wedding, but then what?
The people in the article were screwed because they didn’t have money & they didn’t have a plan. I have money, but no plan. Guess I better start thinking about one…