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Ireland 09-14 the recession years

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  • Registered Users Posts: 4,431 ✭✭✭Sky King


    I will never forget it. NEVER.

    Straight out of college and joined family business just as everything was going south... we had to meet once a week with a list of names to see who we had to tell we had no work for the following week - trying to be fair but also responsible when laying guys off - axing jobs... loyal staff with young kids and mortgages. Not being able to pay suppliers, previously loyal and well established customers defaulting on their credit and going out of business - catchign us in the process...

    ...being threatened to be shut down on a couple of occasions from revenue due to falling behind on bills.... At one stage we were literally week to week about whether we would have to call all the staff in and make them all redundant and put a chain around the gate. That went on for months. Not being able to sleep. Sometimes shaking with anxiety and depression. We sold off non vital assets for a pittance to keep the doors open.

    My dad had to come out of retirement and work without pay - a man in his 60's who had been working hard since his teens and earned every bit of his success and retirement. I worked for essentially minimum wage and rented out all the rooms in my house so i could afford to pay my mortgage and when i went home in the evening after all the bull**** i had to deal with during the day of trying to keep the business open I had to look at some smelly prick's dirty dishes in my sink.

    Seriously fking character building stuff though. The best apprenticeship in running a business you could ever hope for. Forget studying 'business' for four years in college - I challenge anyone to do a year of te fking **** that I had to put up and not be totally changed person by the end of it.

    We're back on our feet now thank fuk and soon when have the means i am going to buy myself a nice Merc and apologise to nofckingbody for it.


  • Registered Users Posts: 3,894 ✭✭✭Iseedeadpixels


    Lost a well paying job at 24, found out I had a child on the way 2 weeks after being let go, couldnt get a job doing what I was doing so took a job that payed half of what I was on to pay mounting bills, my credit rating was destroyed, my confidence was destroyed, companies treating staff like ****e gave me bad anxiety and led to depression, I smiled my way through the ****e pushed myself in jobs and Im finally earning decent money again....I never want to experience that again but you just never know.


  • Registered Users Posts: 624 ✭✭✭heretothere


    Graduated in 2009, no milk rounds that year! So I headed down under for myself. Had a right time, meet my soon to be husband.


  • Registered Users Posts: 7,500 ✭✭✭BrokenArrows


    I left at the end of 2010 to London. I was always employed in Ireland but left due to wanting something new and there wasnt much on offer at the time.

    I transferred internally to London with a new position. Been here since. 7.5 years.
    Settled here now. Got married and bought a house.

    Things are going grand.


  • Registered Users Posts: 15,355 ✭✭✭✭Supercell


    Got married, bought a house, had my first two children, best years of my life. I work in the IT sector which at least here was blissfully unaffected.

    Have a weather station?, why not join the Ireland Weather Network - http://irelandweather.eu/



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  • Registered Users Posts: 11,747 ✭✭✭✭wes


    I got lucky, I got a decent job at the tail end of the Celtic Tiger, and never lived beyond my means before of after it either.

    So things worked out well enough for me.


  • Registered Users Posts: 11,465 ✭✭✭✭Ush1


    Didn't impact me that much as I kept a wide berth of the craziness of the property boom and didn't go into employment in the construction industry to make my fortune while screwing everyone else in the process.


    Earned quite good wages in my sector and bought a fairly cheap property during the downturn.


    Hence the username I suppose :)

    Pretty much my story, shur aren't we both great!:D


  • Posts: 17,728 ✭✭✭✭ [Deleted User]


    Sky King wrote: »
    I will never forget it. NEVER.

    Straight out of college and joined family business...................rented out all the rooms in my house so i could afford to pay my mortgage........................ I challenge anyone to do a year of te fking **** that I had to put up and not be totally changed person by the end of it................

    Well done on your achievements but things couldn't have been that bad if you were in a position to buy a house just out of college :)

    Most graduates can't accept your challenge as there isn't a family business to join :)


  • Registered Users Posts: 7,264 ✭✭✭facehugger99


    Got made redundant.

    Got another job quickly enough - I was very lucky.

    Had to take a 50k salary cut though. Luckily we hadn't taken on much debt and our mortgage was pretty low - we bought before prices went mad.

    Saw a lot of friends and colleagues get badly burned - some of them still recovering.


  • Registered Users Posts: 43,028 ✭✭✭✭SEPT 23 1989


    ran a business through it and I will never do it again

    very busy now bills are paid on the nose and debts are cleared

    when it goes over the cliff again the doors close


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  • Registered Users Posts: 2,655 ✭✭✭draiochtanois


    This post has been deleted.


  • Registered Users Posts: 1,717 ✭✭✭Raging_Ninja


    No pity for you.

    Rather than build up reserves that allow you to weather another crisis you want to buy a Merc.

    Have you learned nothing?

    Lol, Christ that's pathetic.


  • Registered Users Posts: 4,431 ✭✭✭Sky King


    This post has been deleted.
    Not looking for your pity, thanks. People were asked for their memories of the recession.
    Rather than build up reserves that allow you to weather another crisis you want to buy a Merc.

    Have you learned nothing?
    Where did I say that i would rather do one over the other?

    What I did say was 'when I have the means'... something you chose not to include in your snooty message :pac:


  • Closed Accounts Posts: 522 ✭✭✭theyoungchap


    Went to London, came back in 2012, back to college, got a decent job on the back of it, life is grand but 08-12 was a humbling experience and it was a reality check for most of my age group.
    Some slogged it out here, some emigrated and came back, some never came back. Cest la vie.


  • Registered Users Posts: 4,431 ✭✭✭Sky King


    Augeo wrote: »
    Well done on your achievements but things couldn't have been that bad if you were in a position to buy a house just out of college :)

    Most graduates can't accept your challenge as there isn't a family business to join :)

    I wasn't young leaving college. Also I said I challenge anyone - (not just graduates). But I do accept your point, thanks.


  • Registered Users Posts: 5,325 ✭✭✭smileyj1987


    Lost a job and went back to college after a year on the dole have a degree in computer networking and waiting on my results for my honours degree in IT management.


  • Registered Users Posts: 1,190 ✭✭✭Rory28


    This post has been deleted.

    To be fair he never said that. He said he will buy a merc when he can and damn right. If you can't enjoy your money whats the point in having it?


  • Registered Users Posts: 2,248 ✭✭✭Fabio


    I finished my degree in 09, went straight into a Masters and then a PhD with the idea of following an academic path.

    Part-time work was hard to come by though. I worked in retail for a good while but the doors closed and that was the end of that. It was a shame because I loved the job but the recession directly affected the company, it went through administration, was bought, went through a second period of administration but I had to go at that stage. Moved on from there to a cafe/bakery and remember Brian Lenihan on the radio one day saying "the worst is now behind us" as I worked away. It didn't feel like it though, and it turns out there were many tough years still to go. Lost that job when the cafe/bakery had to cut back on costs but picked up bits of work in college while going for the PhD. That was steady enough work but it was absolutely clear that there was no way that that work would ever turn into a full time job. Many others would tell you how they started off doing part-time stuff in there and eventually it turned into a full-time role but it was clear that those days were gone...no matter how many letters were after your name.

    Muddled my way into the darkside of a PhD, no research funds available so teached and continued with my part-time work. Left an awful strain on me, inevitably mental health issues cropped up and I had to stop. Seemed like a real black hole because I had no real options in Ireland. The only positive was that I was still living at home so didn't need to worry about rent all that much but still had a motor to pay for. My girlfriend, now wife, moved abroad for work for a year which was difficult for us both. It was even more difficult for her to find work on her return as, even though she had moved abroad to teach, she was asked by interview panels "why didn't you stay in Ireland, why did you leave our education system?". She eventually found something but it was the other side of the country so that separation wasn't easy. We're married now though so it all worked out thankfully.

    A lot of friends of mine left the country in this period. I also lost touch with some friends due to me being so ensconced in my phd work and not having the time to do much else when I took teaching and part-time work into the equation as well. It was certainly a formative period and it has left its mark alright. The way some employers acted at that time was criminal as well, remember Vita Cortex? There was a general sense of doom and despair to it all and there were days when I felt like I was the last of my cohort to stay behind and wondered whether I was the fool for doing so? Don't get me wrong, I had plans to leave with herself but, ultimately, I never had the guts to. I really didn't want to either, I am a home bird. Still, queuing for the social (for a few weeks between my masters and phd time) was a sobering experience. A lot of highly educated people in that same line, a lot of hard workers, and a lot of talk about "I'm heading off to Oz next month etc.".

    TLDR - It was bleak and it was hard. It has left a mark.


  • Closed Accounts Posts: 522 ✭✭✭theyoungchap


    Rory28 wrote: »
    To be fair he never said that. He said he will buy a merc when he can and damn right. If you can't enjoy your money whats the point in having it?

    And, it is nobody else's business what anybody does with their money. If he wants a Merc, he is entitled to do it - nobody else is paying for it.......


  • Posts: 17,728 ✭✭✭✭ [Deleted User]


    And, it is nobody else's business what anybody does with their money. If he wants a Merc, he is entitled to do it - nobody else is paying for it.......

    With increased taxation after 08/09 I reckon we all paid and are still paying for quite a few Mercs etc that most of us never drove :)
    I agree with your point though to a huge extent :)


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  • Registered Users Posts: 2,655 ✭✭✭draiochtanois


    This post has been deleted.


  • Registered Users Posts: 1,830 ✭✭✭lab man


    How about 09-18? Its not over

    Well said poster it's only hitting some ppl now as in having to go pcp route to buy a car


  • Closed Accounts Posts: 522 ✭✭✭theyoungchap


    This post has been deleted.

    I didn't say we/he wasn't (I am too), but you are changing the goal post - all I said was he doesn't have to justify buying a merc to anybody.


  • Closed Accounts Posts: 522 ✭✭✭theyoungchap


    lab man wrote: »
    Well said poster it's only hitting some ppl now as in having to go pcp route to buy a car

    Anybody going PCP route to buy a car doesn't understand personal finance. Buy something to get you around and save. You will pay for the car twice.

    Buying a car on PCP is nothing short of insane.


  • Posts: 25,611 ✭✭✭✭ [Deleted User]


    Anybody going PCP route to buy a car doesn't understand personal finance. Buy something to get you around and save. You will pay for the car twice.

    Buying a car on PCP is nothing short of insane.
    How?


  • Registered Users Posts: 1,170 ✭✭✭chrissb8


    How about 09-18? Its not over

    It absolutely is! go on Indeed.ie there and tell me there are no jobs.


  • Posts: 17,728 ✭✭✭✭ [Deleted User]


    Anybody going PCP route to buy a car doesn't understand personal finance............

    irony-irony-everywhere.jpg


  • Registered Users Posts: 624 ✭✭✭heretothere


    chrissb8 wrote: »
    It absolutely is! go on Indeed.ie there and tell me there are no jobs.

    So true. One man I know must have loved every second of the recession, everything was the governments fault. Foreigners were taking all the jobs. He'd love to work if only there was something there. Still not working, but a lot quieter about it now!!


  • Closed Accounts Posts: 522 ✭✭✭theyoungchap


    lab man wrote: »
    Well said poster it's only hitting some ppl now as in having to go pcp route to buy a car
    Augeo wrote: »
    irony-irony-everywhere.jpg

    If you think that is ironic you either can't understand irony, or don't understand the pitfalls of PCP.........

    https://www.rte.ie/news/business/2017/0721/892074-conor-brophy-whats-the-real-cost-of-pcp-car-finance/

    I'd rather own a piece of junk outright than buy a car on PCP and not know what the end-game will be in 3 years.


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  • Posts: 17,728 ✭✭✭✭ [Deleted User]


    ..........
    I'd rather own a piece of junk outright than buy a car on PCP and not know what the end-game will be in 3 years.

    The end game, worse case scenario is the GFMV if you've stayed within the agreed T&Cs (servicing, mileage and not making sh1t of the car).

    I've never bought on PCP myself and quite likely never will btw.


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