I got made redundant during the financial crisis of 2008 as the company decided to downsize the team I was in. Found a new (rather low paying) job after about 9 months, then I got made redundant from that place after a year and a half as the whole company closed down.
This really hurt me financially as in my country the government makes you use up any savings before you can get the unemployment benefit (welfare). I had a nice nest egg of savings at the time, almost enough to put a deposit on a house, but all that was used up surviving during that time.
If I could go back 10 years I would tell myself to leave the first company I got made redundant from before all that happened. I would like to think this would have meant I was not unemployed for 9 months or made redundant a second time, so would still have had those savings, and as such would actually own my own house now rather than renting.
House prices have increased significantly in my country over the last 6 years, so not only was it a good time to buy back then, its been difficult to catch up financially to a point where buying a house is a realistic possibility. Gladly I think I am just about there; about another year of savings should allow me to purchase a small 2-bedroom place.
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I got made redundant during the financial crisis of 2008 as the company decided to downsize the team I was in. Found a new (rather low paying) job after about 9 months, then I got made redundant from that place after a year and a half as the whole company closed down.
This really hurt me financially as in my country the government makes you use up any savings before you can get the unemployment benefit (welfare). I had a nice nest egg of savings at the time, almost enough to put a deposit on a house, but all that was used up surviving during that time.
If I could go back 10 years I would tell myself to leave the first company I got made redundant from before all that happened. I would like to think this would have meant I was not unemployed for 9 months or made redundant a second time, so would still have had those savings, and as such would actually own my own house now rather than renting.
House prices have increased significantly in my country over the last 6 years, so not only was it a good time to buy back then, its been difficult to catch up financially to a point where buying a house is a realistic possibility. Gladly I think I am just about there; about another year of savings should allow me to purchase a small 2-bedroom place.