When The Recession Hits Your Family

by Kelly · 20 comments

in Money & Spending

As unemployment increases, credit decreases and times get tougher for everyone, the chances of you or one of your family members being personally affected goes up. That’s what is happening in my family- my mother’s work is cutting back on her hours, and my father’s business, heavily dependent on customers, is becoming worrisome. Personally, my own hours at work have been cut back, leaving me dependent on my government subsidies for school.

I don’t really know how to react to my parents’ financial concerns. I feel worried and afraid for them, and it’s not made easier by the fact that I live so far away. It’s not like they are looking for advice either, just commiseration and a sympathetic ear. That, at least, I can give them lots of- I have unlimited international phone calls!

How has the recession affected you and your family? Has somebody you know lost a job? What do you say to friends and family members with financial concerns? What would you like others to say to you?


1 Mayi February 4, 2009

good thing there are various government programs out there to help citizens and residents cope with the economic recession.

Mayi´s last blog post..Showin’ Love Para Mi Madre

2 Sarah Kate February 4, 2009

It is hard to think about my parents, having financial trouble, but they are. As a kid you look at your parents and think they are indestructible in every way. So, it rocked my world when they were so effected by the economy and now I am buying their dinner when we go out. They both work in the housing business. Dad is a carpenter and mom a real estate agent. Mom is now driving a limo on the side and dad is fixing computers. I didn’t expect the role reversal to come so quickly. I will pray for you and your family when I think of mine.

Sarah Kate´s last blog post..Lovvve is in the air

3 Nicki at Domestic Cents February 4, 2009

My brother lost his job a few months ago and hasn’t been able to find any work. No one is hiring where we live. Two contractor friends of ours are starving for work too. It’s hard. I don’t feel like there’s much I can do. I can pray for them and be there for them though.

Nicki at Domestic Cents´s last blog post..Menu Planning And Grocery Shopping

4 Nancy February 4, 2009

A neighbor lady lost her job about 3 weeks ago but fortunately she found a new job in the same line of work within 10 days. Not the case for most who have recently lost their job. 3 years ago we were in a situation where husband was without work for 3 mos. It was difficult but I didn’t want to have to ask for help and fortunately we didn’t have to. Several friends and families from our church did things for us such as asking my husband to mow their grass and then paying him $50, giving us an anonymous cash gift at Christmas, bringing a meal by, etc. Those gestures meant a great deal to us and we found comfort in knowing that others were thinking of us and praying for us.

Nancy´s last blog post..Preserving Family History

5 Lucie @ Unconventional Origins February 4, 2009

My family is, let’s see, how can I put this – screwed?

My parents have a double mortgage, credit card debt, student loans, and no retirement. None. Nada. No savings at all. My fiance and I are still in school, have enough debt to bury us alive, and because of state budget cuts he isn’t being offered any more full time teaching next semester at the University where he has worked for five years.

All I know is this has motivated me to be more frugal than ever . . .

6 Jen February 4, 2009

I’m actually the one in my family without a job. I completed an internship in November and since then haven’t been able to find a job. It’s hard on me and my fiance, mostly emotionally, but luckily he’s supporting us with a part-time job and his savings (he’s going to grad school right now as well, poor guy). I hear what the person above is saying about govt help, but that’s not quite true. I filed for unemployment as soon as my internship ended and was told that I don’t qualify because internships don’t count as work in their eyes. Some people can’t rely on the government’s help, unfortunately. If you want to know how to help someone in this situation, the best you can do is be there for them. Be a good listener and supporter. Also, if you want to spend time with them, suggest things that are cheap or free. Invite them over for dinner or suggest you spend time outdoors or something. Don’t suggest anything that might force them to say “I can’t afford that right now” because that’s hard for them to admit and will make them feel worse.

7 Yarnball February 4, 2009

I don’t want anything from the government. I would appreciate it if the government would stop taking our money away to give to other people & then we’d have enough to take care of ourselves plus give to others.

Government is NOT the answer.

8 db February 4, 2009

I agree with Yarnball…government is NOT the answer. We are overtaxed in our society, redistribution of wealth is not the answer. Some people believe that they are entiltled to everything .. were is the work ethic. It frusterates me to know end that people rely on government to much and they always want more.

9 Revanche February 4, 2009

I’m probably the most affected by this in my family; my staff and I are facing a layoff at some unannounced time. My family’s been dependent on me for years, so we’re used to living frugally/with a poorer mentality than most. And I say to them, “I’ll take care of it.” 😛

As for my friends, I have one girlfriend hasn’t been able to find a paying job since graduating from her Master’s program, but she’s been living at home and helping with the family business, and the family is well off. Another girlfriend is unemployed and living with a fiance who is still trying to find work. They’re doing ok right now, but they’ve already lost one home and are living in an apartment.

It’s depressing, all around. It helps to have people lend an ear when venting is needed. And good, frugal ideas and suggestions should always be shared!

Revanche´s last blog post..Done deal: I just spent $733

10 Heather February 5, 2009

The recession has hit our family hard. In 2008, I had my job at two different places cut. I have been unemployed 2 months, with little unemployment.
I think the one think I “wish” people would quit saying is “Well, at least you have unemployment.” Yes, I do – and am thankful. It has been the faithful few friends checking in on me to see how I am “holding up” that has kept me from becoming overly depressed.

Heather´s last blog post..Paint me blue, and call me Balaam.

11 Mary February 5, 2009

It’s hit my family pretty hard. Actually, my parents are about the only ones in our immediate family whose jobs are relatively safe right now. They work for a public school system in maintenance and transportation. My siblings both work in law enforcement and are looking at possible severe budget cuts. My in-laws all work in construction and seeing major cuts in hours. My husband is having to travel for work, 16 hours away from home currently. When he got laid off 5 weeks ago, we had a crash course in frugality. Looking for the silver lining here… at least once he’s back home and working steady again, maybe some of the frugal habits we’re picking up now will stick better?

12 Kristy @ Master Your Card February 5, 2009

Both my brother and brother-in-law have been laid off. I don’t know the specifics for my brother’s situation because we aren’t exactly close, but my brother-in-law being laid off has put a big strain on my sister. She works full-time and is expected to be a full-time wife and mother as well. The sad part is that both my brother and brother-in-law are using the economy as a reason they can’t find jobs. In reality, they could both have a job tomorrow if they wanted, but neither of them want to do what is necessary. My brother-in-law has my sister and my brother just mooches off my parents. I’m kind of at a point where I don’t feel bad for them anymore, so I don’t say anything. I keep my thoughts to myself and simply pray that they will be taken care of.

For myself, I think I’d prefer someone just to let me talk and get some things off my chest. For the most part, I’m pretty good at figuring out my own problems, I just need someone to talk them out with. So that’s what I’d want.

Kristy @ Master Your Card´s last blog post..The Rule of 72

13 Emma @ Baby-log.com February 5, 2009

I have a good friend and she is so afraid to lose her job! Their family is neck deep in debt and 2 incomes are very important for them to survive. I can’t just tell her – everything will be all right and you won’t lose your job because that is not true, but I keep telling her that with her experience and skills she will be able to find another one quickly, and even if the money won’t be as good, it will still be enough to get by until the economic situation improves.

@ Lucy: you’re so right, recession is a huge motivation for frugality. I wish we had a better reason.

Emma @ Baby-log.com´s last blog post..How I quit smoking for my baby’s sake, part 1

14 Saver Queen February 5, 2009

I’m so sorry to hear about everyone who has financial trouble in their family right now – my thoughts and well wishes go out to everyone. It’s hard when people you care about are suffering, and if those people happen to be parents, the role reversal can be very traumatic. I hope that my blog and the blogging community in general is useful in terms of advice, support and frugal tips.

We are doing okay. We were in a bit of a tight spot a few months ago, as my partner’s company ran out of money and so there was a whole month without a pay cheque. Luckily he had been job searching on the side for months and managed to find a new job pretty quickly. As for me, I am job hunting right now . Hmm, maybe I should be off looking for a job instead of here commenting on blogs!

Best wishes everyone!

Saver Queen´s last blog post..Give monthly & save

15 Jayhawk Girl February 6, 2009

I love your BLOG! I just wanted to let you know that I am giving you a BLOG award in the morning. It should be posted at 9am central time. Have a great day!

Jayhawk Girl´s last blog post..National Wear Red Day

16 Evie Mc February 8, 2009

Personally I have always been frugal but since I lost my business last year we have been hit hard. My husbands business has been cut in half leaving us with about 25% of our original income. Due to that we got 3 months behind on our mortg. but we did a loan mod. and got 30% taken off because of a lower interest rate. That was very helpful.
I am also going to school to be an MT, which will put us in a great position once I get a job.
So take this time to revamp your future, make something good out of these hard times. Take what is out there for you be it grants or whatever assistance. We are all going through this together!

17 Monroe on a Budget February 12, 2009

We’re kind of on the front lines. Still working, but in jobs whose industries are rattled.

Now to follow up on the comments, families who are affected by the recession are not going to see one big bailout that compares to, say a lottery win and all their financial problems are cured.

It’s going to be lots of little bailouts such as a grant for this, a partial scholarship for that, a freebie from time to time.

Monroe on a Budget´s last blog post..Talking to your teen about tough economic times

18 Abigail March 1, 2009

Well, my husband’s unemployed, but that’s due to health problems more than any current recession. So we have no idea how that will affect us yet.

But my father-in-law is finishing up a contract soon — yup 54 years old and a contract worker with no health insurance. Mother-in-law is on disability. And they have a ton of debts. Maybe his company will find him more work. Maybe they won’t.

Did I mention they have no retirement savings?

It’s terrifying for Tim and I, since we’ll never be big-money earners. There’s really no way to help them — and we really shouldn’t have to. They have repeatedly failed to think ahead about money. They still do. And his brother may (okay, will) be dependent on them until the day they die. And for reasons too long to get into here, we have already agreed he can never stay with us.

Abigail´s last blog post..Everything’s amazing and nobody’s happy

19 Survive Economic Recession January 30, 2010

It seems like around here, everyone knows someone who is out of work. The key is to prepare for uncertain periods of employment by having a plan B. What I mean by that is having a way to support yourself that is not dependent upon someone else’s business. A plan B could be an annuity that pays interest, real estate investments that put you into positive cash flow (pretty easy to find right now because of all the foreclosures), or having a successful home based business in which you offer a product or service that you yourself have created.
.-= Survive Economic Recession´s last blog ..A Job or an Internet Home Based Business Opportunity – Moms and Dads Must Answer This Question =-.

20 Monroe on a Budget February 1, 2010

Attn Survive Ecnomic Recession: Plan B hasn’t enough right now for those who live in Michigan and many other areas. Even those who had plan B are having to scramble for Plan C or D. And as far as being self employed – who will your paying clients be if your entire region is suffering from a recession? If your potential clients have no cash to spend, you’re not getting money from them, end of story. Now, what I’ve been doing via my blog is teaching southeast Michigan people how to find the savings or resources in every possible category of their budget so they can ride out the recession with as little financial damage as possible.
.-= Monroe on a Budget´s last blog ..Where’s my refund? You can track it on line =-.

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