Out of Work Family Hit by the Recession Finds Ways to Cut Costs: A Continuing Series on Coping

Harriet Robbins Ost

This is a continuing series. Here is how it begins.

The recession hit us last autumn. We didn’t know, however, just how disastrous things would get until — in an instant — we had no money.In early March, we tried to transfer funds from our home equity credit line to pay a bill. There was no money available. Our lender had reappraised our house, depreciating the value by more than $100,000, and wiping out the money that would have carried us for at least a year.

When my husband learned in mid-November his last day of work would be Dec. 31, he wasn’t too worried. He’d always enjoyed long-lasting jobs with easy transitions and had never experienced unemployment. He was shocked when he didn’t get another position open at his company.

As December wore on with no prospects, we tightened our belts.

Here is a series on belt-tightening.

Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7

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