So whats your plan?


#61

Really!

Most pinsters appear to be saving

Broadly speaking, my share of the expenses, spending and food etc before mortgage costs comes to about €10,000 a year – about dole money. I try not to be too hard on myself, case of Sailor Jerry’s & bourbon on order for a summer party

Moved to a First Active offset tracker mortgage, they paid me to move in 2007. It means I can dip into a huge overdraft at 2.15% when I need it

I have a business that is getting self sufficent thus holding its own, saw business slow in 2007 and didn’t replace 2 staff leavers, radically cut expenditure, quite stable at lower levels. It took years of effort, and no salary to get to this point.

Best friend was laid off, started a business, not getting much work yet. We are moving down the road to starting an internet JV, uses his spare capacity. Really nothing as complicated as all the earlier C+ talk. Regularly CVs are sent to my above business, some just shine out, hopefully some people will be getting a call this summer, there is some great un-used talent just going to waste.


#62

It’s sad to hear of competent, highly-qualified pinsters being laid off. :cry: No one is immune in the current climate.

I’ve been working on a plan for about 2 years now, in response to a serious reduction in the number of my customers which put me at serious risk, not of redundancy, but of being transferred somewhere I REALLY don’t want to be (too far away from elderly parents /from lovely nieces and nephews (begat by a certain pinster here that I won’t mention), etc.

I’ve been working flat out to improve the quality of service we provide our customers, so that numbers cease dropping.

The strategy appears to be working. Customer numbers are up. I’m somewhat more confident now that my job is secure than I was some months ago. Still, no respite and the good efforts must keep up.

Heck, I’ll take on the flipp!n world on my own, if I have to, in order to stay where I am! :nin

That said, I might have to review this strategy in the next year or two and wouldn’t completely rule out moving abroad, although my skills are not that transferable…

Mr and Mrs Cockerspaniel are saving flat out at the moment. About 65% of our wages are being saved every month. This effort has been going on for over a year now. All this with a view to trading up to a decent sized house.

Mr Cockerspaniel took on extra responsabilities at work some time ago. Just as well, as the job he was doing seems to be going any day now. It’s one month at a time where his job is concerned.

If our next house has enough space outside of it, I’ll plant fruit-producing trees rather than just ornamental ones next time round (apple, pear, plum). Sell or barter any excess fruit.


#63

I’m moving abroad with my wife next week, to Poland - Kraków specifically. I’ll be starting my new job next Wednesday, and we’ll be moving into our apartment on Monday. What’s quite interesting though is that our apartment we’ll be moving into is actually owned by two guys from Co. Down.

The big challenge now wil be learning Polish, but i’ll still be keeping an eye on Ireland, and the Pin, from a distance.


#64

Best of luck to you, If you need any help when you get over there let us know :slight_smile:


#65

No debt, but no real savings either. Had to replace the car last month when the old 13-year-old rustbucket finally died but only had to spend a few grand cash buying and fixing up an old A6 that should do just fine for another few years if necessary. Work seems to have stabilised after a dreadful 2009 but the place could still go bust (again!) at any time. On the bright side the stuff I’ve been working on the last 2 years has really re-invigorated my CV with new technologies and skills so I’m more marketable abroad than I was before.

So the plan remains the same as it has been for the last year or more, though it’s taking a bit longer than I originally thought - continue trying to batter some French into my old brain, rebuild savings now that the debts and car situations are sorted until I have an “emigration fund” (it’s just me so I reckon £5K should do it), then quietly keep an eye out for a good opportunity in France or the French parts of Switzerland and as soon as I’ve landed one it’s offski for me.


#66

Just promoted on Friday, congratulations Bilbot. No pay rise. Was saving well but with deposit sized sum in the bank have been enjoying the finer things in life instead. Best stop that and git savin again. As time goes on, house purchase becomes less and less important to me. Am warming to the idea of getting a cheap house and paying off mortgage super quick rather than buying the best I can get at the bottom. Debt is scary.


#67

Was approached by senior management and asked to take a cut recently, I stubbornly refused as I have been the only one to do so as far as I know in the past two years. On top of that I know that I have more than held my own in respect of the downturn as we haven’t lost clients as such (I think two in the last five years) and the business I write sticks because it is client focused and not sales focused.
I will say that its given me food for thought as it came out of left field so I’ll be watching my back and making the appropriate preparations (just in case). On the other hand I am lucky that we have little or no debt (in that anything we owe could be paid off tomorrow from savings) and we would still have a pot. But we achieved this position by not so much being frugal as not being gullible with all the crap that’s gone on.
I have toyed with the idea of maybe going it alone as there could possibly be more security in that as opposed to being employed but will do the research before making a decision and it could be some time before that happens if at all.


#68

Its amazing how cheaply you can get to with a little lifestyle design.

I gave up my job, eliminated all costs associated with it, good car, diesel, expensive clothes and food etc.
Went self employed, hunting for my own clients. Plan to move into a much nicer house down the country for €500pm, while preparing to go off grid proper. I figure cutting out food, heating, electricity will bring eliminate the need for 1k per month pre tax income.
I expect all these costs to get very expensive over the next 10 years, possible doubling or tripling, or maybe staying static while income drops 2 or 3 times or else both staying the same and inflation doing the same job.

I figure working for ones self and getting skills that are relevant at that point in time is much less risky than keeping a job in a company which makes soon to be obsolete widgets. starting to be true now, but in 10 years…coupled with all the new taxes coming in, I pity the average paye emplyee


#69

Testify!!


#70

Unlike most pinsters I took a gamble that my (private sector) job was pretty safe, it being highly skilled, but not very well paid. I figured there was plenty others in the queue ahead of me for redundancy.

In 2009, I changed the car, got engaged, moved to a large new (rental) house, stocked up on wine and spirits (from France and Duty Free). Took on some debt in the process, but that’s all but paid off now. I bought a lot of fixtures and fittings for a house, (non-white goods), and furniture. It was an excellent year to spend money (if you had it, or at least access to it). I brushed up my cookery skills, and am now very capable of cooking for 5-6 people. Decent kitchen equipment helps no end in this regard.

So now I only buy fresh food, entertain at home (Cocktail or Dinner parties), effectively reducing outgoings hugely from when a restaurant was the only option for meself and the soon-to-be missus, and the pub was the only option for socialising. I eat and drink better now for half the cost. I still frequent the pub and restaurant, but for a restaurant this is only to please the missus.

Plan going forward. Hard to know really. Must work on a promotion, which could add 5-10k to salary (fingers crossed). Hopefully landlord is content with us as tennants and will let us stay for another 2-3 years. By that time the market will hopefully be sane and we can buy a decent gaffe, centrally located, for an affordable price. Before that time I’ll get a better idea if the economy will recover or not (not looking likely with the current freakshow, but some good people are in the central bank/regulators office), and how stable the job is. If the job/economy starts to look dodgy then I’ll probably take herself and meself to London (reluctantly) or preferably France. But I think it’s better to stick around and try to change things.

I think gombeenesque behaviour has had it’s day, and has nowhere to hide anymore. It’s clinging on for dear life now, but with the EU and multinationals keeping a close eye on us, it cannot and will not survive ad nauseum. I remain optimistic!


#71

Heh, just noticed this thread, seems everyone is battering down the hatches

this time last year I was thinking of emigrating (can work anywhere there is internet and electricity), but spotted a good bargain and decided to stay

Ive no debt and no intention of getting into it (always prepay CC etc),
bought new house in cash recently and now completing it

putting in a shit load of insulation, good windows, solar water heaters, on track for A rating (maybe high B), all of this to reduce future fuel bills

looking into getting a diesel car too

hopefully can put in a 5KW windmill in year or so, assuming the neighbours/planners dont have objections :frowning:

i have to say this is an excellent time to be building, the builders (that remain) are desperate and are doing better jobs now and for a lot less, especially if you pay them cash in hand :smiley:

hope to put in a veg patch this summer and plant trees/bushes

my 4 year old business has slowed down a bit this month but i managed to cut main costs in half, so all is well ive other projects in the pipeline :slight_smile:,
i hope to move most of the profit generating arm offshore (internet services) later this year (I be damned if I ever have to pay higher rates of tax so the fuckers can piss it all away on banks, entitlements and “not so great but very expensive” public services)
and also move any personal/business savings to nicer safer banks like rabo, I just don’t trust the Irish cowboys

other than that I plan to enjoy life and hedge myself and family against the madness being perpetrated by the powers in charge


#72

Have to be honest I don’t really have any plan if I lose my job, my wife currently works two jobs but a total of a standard week. TBH my position is relatively stable, I work for a food wholesaler as the only accountant, all companies need accountants!


#73

My 3 point plan for personal happiness and fulfillment.

  1. To continue to live and work outside of Ireland permanently. (Growing up in the North, and the 4 years I served in Dublin 2000-2004 told me all I needed to know about the reality of life in Ireland).

  2. To enjoy the sunshine and warmth, good remuneration, low tax and unbeatable career opportunities I have found elsewhere.

  3. To take an annual holiday back on the Oul Sod, and regularly read the Sindo online, and the property pin, to remind myself why this is ‘the plan’.