Friday, May 5, 2023

Let me tell you a story

We can start with last night's dinner that is off topic

Hubby mentioned he missed going to a steakhouse and getting surf and turf. I pulled it from the freezer and picked the asparagus fresh . Grilled it and called it done. Last time we had that meal at a restaurant it cost us over $100.

Now to the story

 In 2007 Hubby was telling me his plant never laid off, he was working 7 days a week 10 hrs. a day for a solid year as they couldn't hire enough to work. We had the old homestead that we were refinishing to sell and then decided to move Daughter 2 in to help pay those bills and help do the work. We bought a smaller 3 bedroom one story. I, for the first time in years, had no garden and no more than a month's worth of groceries including paper products and personal care. BECAUSE Hubby made him feel we were poor and that I was saying he couldn't take care of everything.  

 Within 1 month in 2008, not only did the plant lay off over half the workers, the ones they kept (mostly maintenance like Hubby) was cut to 3 days a week. The plant did that so they could keep them covered with health ins. and we were grateful for at least that.

Daddy lost over 50% of his investments due to not moving his money when his finance guy told him to and had to go to living on SS only. We actually gained money in our investments. 

 Daughter 2 lost her income and moved, we lost both houses and moved to an 800 sq ft rental a friend found for us. I started stocking when I could afford it. We ended up in slow pay bankruptcy. The judge refused to take the 401(k) like we wanted to just pay everything off. At the time I was ticked over that choice. Bankruptcy was for 5 yrs. Our kids and a friend were putting food etc. on the table for a solid year.

Hubby was still dealing with the shock of everything when I sat him down and told him, I was taking over the finances. In 4 yrs. instead of 5 I had the bankruptcy paid off. Every single extra dollar that came in or was not spent, went on that bill. I sent a letter thanking the Judge for not letting us use the 401k to pay it off as I don't think I could have got Hubby to start saving.

We moved to an old farm house a coworker was renting out. Daughter 4's ex moved us and told her not to worry as I had enough can goods stored under furniture to keep us fed for 6 months  We lived there almost 10 yrs. I saved up enough to come up with the down payment for this home. I went back gardening and canning.

As all of you know, if you have read this blog much at all. I have grow a huge garden. I stock pile everything. I have helped our kids , grandkids and neighbors . We have an emergency fund (lower than I like but it's there). We are able to go off grid if needed.

Hubby told me to stock for at least 2 yrs for everything and to get the emergency fund up to 6 months at least. FYI we are at 4 months, 5 months if I count what is sitting in checking. 

I asked what he saw on tv or read on the internet. A lot of things from what he explained that he doesn't believe they are being completely honest because they don't want to trigger a big freak out. Just like 2007-2008.

Just a FYI , average time of recession is 10 months according to Dave Ramsey.

Daughter 4 had texted him she had her 40 hrs. plus / week job at Amazon (within 30 miles of us) cut to 15 hrs. She was going for an interview at another place.  

The grocery store that was coming in locally, has backed out completely. 

Feds once again raised interest rates.

Two more banks are up for sale (and that's after our own put out they bought Union Bank)

He is seeing less work hauling pallets and knows the one company that he used to haul for has closed due to lack of orders. The company that buys used pallets, isn't getting much in either. 

He was watching on the internet some financial guys and one of them mentioned that Dave Ramsey had commented on his site that recession is like a hurricane. You don't know how hard it's going to hit or exactly what it is going to hit. When it hit him, that between world issues and political issues and banks going down... the hurricane has started. 

He didn't even bring up the crap in DC about the debt ceiling with possibly not getting our SS.

I did Dave Ramsey's debt snowball when my late husband died leaving me with $65,000 in debt and no income. Was it hard? Yes , I posted the debt on the wall and the kids learned where the money was going and on what. We celebrated not only paying that off but bringing a $33,000 one step before being condemned house up to $56,000 paid OFF. That was before Hubby and I married.

This morning I checked out Dave Ramsey's site for recession info.

He said put the 4 walls first: food, utilities, shelter and transportation. Follow that with stock pile cash with the assumption you already have 3-6 months emergency fund. 

I inventoried medical first, then medication, then over the counter vitamins and such. I even did the dog.  I made the list of what is needed and how much for 2 yrs.

I inventoried cleaning/personal care/ paper products including office products. Might need ink for printer before 2 yrs. but I felt what we have is fine

I inventoried the pantry. Since it's going into garden season, not real worried as I have grains, sugars of all sorts (honey, molasses and maple syrup in this area) I have yeast but can make sour dough. I have salt which comes from my Grandpa on Daddy's side telling me how they couldn't can one year because they ran out of salt. I am writing out what is needed so I don't lose focus during the season and miss I need more green beans like M did this past year. 

Utilities/shelter is current and I keep focusing on reducing those costs.

We are selling the motorcycle. We will run the red truck until we can't (frame rusting out) and Hubby has 18 more payments on the work truck.

We have 4 months emergency funds, 5 with checking.   We both carry some cash as Amish are always asking if we can "break" their $20s. 

When he gets home today from hauling I can sit him down and show him where we are with everything and hopefully calm his fears. It can make things worse with his mild dementia.

Stay safe, prayers for peace (and brains that actually are logical?)

Blessed be