My husband was laid off on Feb. 3rd 2009 and this is his first day back to work......(he is working for Edward Jones.) Praise God!!!! We were prepared and did pretty good. We spent 25% of our savings. Now we will bring our 3-6 month savings back up to $20,000 and then start investing 15% for retirement.
I know I have typed this before, but when saving for your 3-6 months...don't forget to take in consideration that you will have to pay your own insurance. Our Cobra was $1100 a month. We opted to buy our own insurance from Blue Cross and that costs a little over $500 a month.
Be Intense, Work Hard, Be Prepared
My husband and I facilitated Financial Peace University and last night was the last class. It was 13 amazing classes with incredible people.
We had a group of 20 families.
Here are the totals as of now from the final class.
$46,879 of debt paid off~ 20% of class reporting
$51,132 saved~ 40% of class reporting
$9,000 of items not purchased because we are all gazelle intense.
Wow! I will update totals as they change.