Financial Hell

LegacyUser

Well, where do I start? My husband and I are in our 50s and both unemployed at the moment. We live in an area where there seems to be no work whatsoever. After running his own business for several years, my husband had to give it up because the work just stopped coming in (not to mention those who never paid on time), and I've had a few health issues which have made it difficult for me to work - even if there were any jobs out there.

So here we sit, on €300 a week dole between us - no help with the mortgage, no extra payments for anything - that is absolutely all we are entitled to. Our outgoings (mortgage, phone, electric) before luxuries such as food come to around €150 a week. This is fine, we're not expecting the taxpayer (or our previously paid taxes) to treat us to a life of luxury - but then we got a letter from the bank - house insurance had lapsed. So, we sort that out (€500) with extreme difficulty. Then, the water pump on the car - our only means of transport, (public transport comprises 2 buses a day around here), goes (€150). THEN it turns out it's the head gasket, not the pump (quoted up to €700 to fix it).

So now - we can't even get to our local Aldi or Lidl, we're stuck with paying over the odds in the nearest town. If there ever was such a thing as a job interview, we have no idea how either of us could get to it (like there's loads out there for those in their 50s). We haven't been on holiday since 2002, we never buy new clothes, we can barely afford to get our laundry done (no washing machine at home), our vehicles are off the road.

Some mornings I just don't want to wake up. I have economised on everything I can possibly economise on (the 'net comes bundled with the house phone, our mobiles are PAYG and rarely used). Just about the only thing that keeps me going is the need to support my husband (who really wants to work - at anything, but can't find a job, or even casual stuff), plus the view across the bay (true!). There are no more corners to cut.

We have no 50" TV (no TV at all, actually), no heating bills (only means of heat are turf fires and one calor gas fire we try to use as little as possible - I am dreading the winter), no expensive electrical appliances (have never owned a dishwasher). We have a computer each - essential for my husband's work, if he ever gets any, and contact with family - we use Skype to keep the phone costs down.

Tell me - where's the light at the end of this tunnel? We can't turn to family for help because we have no family. I'm on my last thread of optimism (and I've always been a fairly positive person). I just can't see anything changing, nor can I see a way to change it.

Any ideas?

coolcat63

How big is your mortgage? And what is your house worth (realistically)? Would it be possible to sell and move to an area - renting - with better job prospects and transport?

ongarboy

Hi OP, I'm so sorry to hear you are going through this difficult crisis. It is people like you that I am happy to pay my taxes for so that in times of genuine need, you can avail of social welfare which you deserve. I know in a flash you and your husband would work if you could get a job and I hope that happens very soon again for both of you.

Regarding your finances, have you been in touch with MABS who provide very helpful advice for people in financial difficulty? They could go through options on how to manage your money more effectively (it sounds like you are doing a good job of it already but there might be additional options they can give you). Secondly, as you are both unemployed and paying a mortgage, would you be eligible for mortgage supplement assistance? Again, MABS should be able to advise. Also, I keep reading in the papers that banks will look to entertain revised repayment options to prevent their mortgage customers going into arrears once you communicate your dilemmas with them in advance (ie extending the term of the loan so the monthly repayments are reduced or allowing interest only mortgages for a temporary period until finances become healthier etc).

Also, little things like would you consider buying a second hand washing machine or asking your local St Vincent dePaul for one? You will save on it within 20-30 weekly washes. Laundrys are rip offs. Also, regarding jobs, I know it's next to impossible to find one these days but keep registered with local job centres/FAS etc/job websites etc so that there might be something you could pick up.

Finally, as this is a very stressful time for you and possibly paid counselling is out of the question for now, why not call the Samaritans to unload and talk about the stress you are enduring. They are non judgemental and neutral and will hopefully help you keep some shred of optimism going so that you can cope with these difficult times.

The very best of luck.

catch me if you can

OP have you any interest or experience in childminding. you could try advertising a s a childminder or even casual babysitter to earn some extra cash. Once of course you have a genuine love of and interest in children.
Do you have a spare bedroom? you could advertise a room to let.
just some ideas to get you extra income .

LegacyUser

Would you consider taking in short term language students for a week here and there?

Also, I know its the wrong time of year but come spring maybe consider planting vegetables or getting some chickens for eggs, that would not only cut down the grocery bill slightly but give you both something to do.

I would also suggest doing some volunteer work, St Vincent de Paul were saying elderly people are in dire need of company and companionship, particularly in rural areas. It wont help the financial situation but will give you some purpose and give you a reason to get out of the house which would be good for the depression.