One last hurrah?

Baronges · **One last hurrah?**

My company was recently bought by another, much larger company. Because there is some overlap in the business, many lay-offs are imminent.

Lately, I have noticed a very interesting phenomenon. My co-workers, who are facing considerable job uncertainty, are busy spending money buying cars, large appliances, and taking vacations. This seems odd to me since my first tendency would be to "tighten my belt".

What do you all think about this? Does it make sense? It's as if they want one last hurrah before hitting the unemployment line.

ctandam · 03-01-2007, 06:50 PM

They are probably thinking they will need the extra income verification in order to qualify to purchase some of these things.
Other then that, I have no idea!

desertmom · 03-01-2007, 06:51 PM

They also want to spend it before it's gone. I'm sorry this is happening. How hard it must be. I hope they will help those that lose their jobs.

Cookie2 · 03-01-2007, 07:18 PM

I hope they aren't counting on a big severence check.

chatsalot · 03-01-2007, 08:34 PM

Hmm... temporary insanity?

Daisymum · 03-01-2007, 10:12 PM

My husbands friend just did this! He was laid off suddenly, but knew that he had a 15k bonus coming. instead of saving the money since he STILL hasnt found a new job, he spent it on a HUGE tv and game system, tons of stuff for his wife, and get this... A TWO WEEK TRIP TO ITALY!!! But everyone has their own thing, and they do not have kids so I think they do not feel the need to save.

Starlite · 03-02-2007, 08:05 AM

If layoffs have ever been around the corner for my family, my first reaction is to save like crazy. I don't understand why people would take on extra debt, knowing that they might not be able to pay for it.

Your co-workers might be replacing worn out vehicles and appliances while they can still list a job on a credit app., hoping that they will get another job soon so they can continue the payments. I have no idea why anyone would take a vacation knowing that a layoff may be coming.

allgirls · 03-02-2007, 08:18 AM

Save like my life depended on it. Of course this is exactly what we did when it did happen and that didn't turn out well either, now I have way too much stuff.

allgirls

brensmom · 03-02-2007, 09:10 AM

wow i would be saving also and hitting the pavement for prospects we have lived with a layoff before and it is not easy or fun to say the least...i'm with you on this it just seems crazy.

ericklar · 03-02-2007, 09:24 AM

If it was me I'd save, but I think part of me might make a mental list of what I think I might need before I get a new job (like a new wardrobe to go job hunting, if any appliances were broken, my car was in bad shape, etc... But in the end I'm too much of a chicken - I would save as much as possible.

Erica