Being laid off the best thing for debt reduction?

The biggest motivators for most of us are FEAR and ANGER. I guess the cold water in the face from me being laid off last week has made my hubby and I both scared and angry at our current situation. We are taking drastic steps now to getting debt free (we were just kind of dragging our feet before). Many of the things we are doing just make me flat out sick but its a game of survival now.

We are in process of selling my car. We should make 1500 or so off the sell as well as getting rid of that 250 payment. We’ll put the excess into savings until we feel secure about our new situation. Using all of my severance package to pay off our only credit card that is left. Use whatever is left over to pay down on my hubby’s truck. Gosh we should be debt free by the beginning of next year! And with none of those payments I won’t even have to go back to work full time if I chose not to.

Why couldn’t they have laid me off a year ago? I guess I had no idea what we were truly capable of. Kind of cool.

Just wanted to share some hope that even what seems like an awful situation can turn out to be one of the best things to happen.

That is so true. As the late Norman Vincent Peale once said, Sometimes life’s darkest moments can be blessings in disguise.

Thanks for sharing that. That’s inspirational! Boy,when you got going, you really went to town! I sure can relate to the fear and anger as motivation—-thanks for sharing and reminding! Oh—-and congratulations! This is exactly the kind of “help” that does me no good. If I got laid off tomorrow, there would be no severance package or partner to help me out and I’d probably be on the streets in a month. Congratulations to Daisy but this kind of info is not general enough to the whole group IMHO.

Not general enough for the whole group? Speak for yourself. The post was encouraging and uplifting and “HELPED” me tremendously, personally. Everytime somebody contributes a story of success, they can rest assured you’ll quickly respond with a bitter, post about how it doens’t do you any good. Support is both good and bad. Yes, you are probably right. If you got laid off, there probably would be no severance and you might be on the streets in a month. If I got laid off tomorrow, I would be on the streets, too—and probably no severence package. But you are not the only one on the board, and the majority of us are here for support of all kinds, and are mature enough to be happy if someone else has a good thing happen.

Please, realize that he does not speak for all of us. Your news is wonderful, and keep the good ATTITUDE. It makes all the difference in the world.

And to you – I wish I had tons of money, and was high-powered in the corporate world. Because I truly do feel bad for you and your situation, and I’d do everything in my power to help you get into a better situation so that you could utilize your talents and skills in a company that would compensate you for it. I really mean that sincerely.