As some of you kind ladies already know, my OH's employer recently announced a period of consultancy with a view to making around 25% of the staff redundant by the end of this month. The latest news is that he is NOT one of those affected this time and we are keeping everything crossed that no further cuts will be required and that the company order books start to pick up again soon. He is actually very busy at work, long may it last.

OH was redundant for about 5 months in 2001 and it was tough; we lived off our savings and something turned up in the nick of time. That experience put me off ever getting a bigger mortgage or any new debts and we are now in a better position financially, although we couldn't keep going indefinitely. My salary just about covers the mortgage, but little else.

Financial troubles are bad enough, but I think the psychological implications are possibly just as bad - I remember those few months, when OH said it was a full-time occupation just applying for jobs and attending interviews. At least there was hope, but it was still draining and demoralising. I dread to think how long it might take a man in his late forties to find another job in this current climate of doom and gloom.