“Dear Steve,

My husband just lost his job two days ago. I am stay at home mom and have stopped working since 2002. We only have $13000 savings and a $1000 monthly mortgage. I have already started submitting my resumes so I could get work too. My husband seems to be nonchalant about it and I am at edge over the situation? I really don’t know what to do.

Tina”

The Answer:

Dear Tina,

I can certainly understand your feelings of stress and worry. The good news here is that you have money in savings and you have prepared, better than 90% of consumers.

Since your husband just lost his job two days ago, maybe what you all need is just to relax and take it easy for a week and then start focusing on looking for a replacement job.

Taking a deep breath and some time away from the problem at hand, is a good thing when done in moderation.

But ultimately I think you should sit down with your husband and discuss how you feel and ask him what his plans are to deal with this situation and how you can both deal with this situation together.

It is just so refreshing to get a question from someone that did a great job saving, is not facing foreclosure in the near future and has all sorts of great opportunities and possibilities in front of them. You don’t realize how luck you are.

I’m not discounting the stress you might be feeling, and it is easy for me to say, but just have a chat with your husband about this and both agree to take a brief mental break before you jump back in to reality.

Thinks will work out fine.

Big Hug!

@GetOutOfDebtGuy

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Read the full article at GetOutOfDebt.org, click here: My Husband Doesn’t Seem Worried That He Lost His Job. I’m Freaking Out. – Tina

The economic blues are hitting more and more people. I just learned that a friend of mine who works at a Bridgestone tire plant is on the bubble for the next wave of layoffs.

My friend and fellow Suzuki Burgman rider is known as the Smyrna Cowboy and he publishes a regular vlog on riding and life. And by the way, riding motorcycles is one of those things I love to do in warmer weather to find joy in life.

Here is his video discussing the upcoming layoffs. You can hear the worry and concern in his voice.

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Read the full article at GetOutOfDebt.org, click here: My Friend and Fellow Motorcycle Rider is Worried About Getting Laid Off

Yesterday I wrote about a little old hardware store that had noticed an increase in card purchases over cash. That’s not a good sign if people are using plastic more for routine things and especially in this environment of credit card issuers reducing credit limits, raising interest rates and closing cards.

You see, the credit card issuers are getting freaked out that more people are going to start using the cards when they can’t afford it. Shocking! I guess that’s okay when you can limp along and make the monthly minimum payments but otherwise it is a bad thing.

The credit card message has been “use the card, use the card, use the card” but that pendulum is swinging to “don’t use the card, don’t use the card, we’ll take that card”.

Apparently this trend is not limited to just the United States or just hardware stores. A story in India noted:

Usage of plastic money is increasing with times but at the same times it is also increasing the worries of credit card companies. In September 2008, the transactions done through credit cards went up by nearly 20% against the previous month. Normally this would be a reason to cheer for the card companies but presently it has become a cause of concern.

The credit card companies are worrying because they think that rising usage of credit card may also result in higher number of defaults among these users.

If all of this is true, which it is, retailers are going to be hating life this holiday season as credit card issuers start closing cards to avoid even higher losses. Without available cash or loose credit, consumers won’t be able to go overboard on holiday spending.

I’m thinking we need a joust between banks and retailers. Wouldn’t that be fun to watch?

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Since my financial failure and bankruptcy I have never taken for granted the difficult and painful process of living through and surviving money troubles. I’ve walked in your shoes. I know what it feels like. I’ve felt the pain and shed the tears. I’ve been afraid and I’ve been depressed.

And even though a lot of time has passed since my dark and stormy days of 1990, when I failed, I still think of those times and get up every day and wake my body for a new opportunity just to help you through your dark days.

Helping you, that I do for free. I do it because it is the right thing to do and I do it because I have been blessed with the skills and abilities to be able to help you when you need help most. My crushing failure as a provider for my wife and family and as a broken father for my young daughter in 1990 was not a death sentence for me because it gave me the experience to help you.

I can’t promise you a magic wand or to make your problems instantly go away, but what I can promise you is a deep and personal concern for you and the suffering you are going through. I promise to tell you the honest truth and provide guidance, advice and hugs to help you through your own dark days.

All I ask from you, is to trust me to ask me for help, to ask for advice, and to ask me to be there for you. I will not charge you a penny, there is no fee for my help and I do all of this for you, my brothers and sisters in debt, because I love you and I care about you, from the very bottom of my heart.

When my dying days arrive I want to look back and know that I made a difference in the lives of some because I cared about what needed to be done, for the right reasons and for the right people. If you are struggling with debt, you are afraid, you are uncertain about what to do, you need an ear to talk softly in and you need a strong hug to make it through tomorrow. I will be here for you.

/s/ Steve
Steve Rhode

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Read the full article at GetOutOfDebt.org, click here: A Pledge And Promise I Work Hard Every Day to Keep: To Be Here For You When You Need Me