DH's workplace is having some uncertainty. Others in his group are definitely being reassigned elsewhere in the company but his position is uncertain. He may be reassigned elsewhere within the company also, but maybe not.
We've only discussed it briefly but a few items we touched on -
1) Our three year old will be pulled out of day care. Our son currently goes to school (free) in the mornings and day care (paid) in the afternoons, so DH would still have time to job hunt and interview. If an interview is after school hours I would be able to take time off work using PTO. This would save us $180/week (or $720/month). (Side note: yes that's insane for part time care even for our area. Apparently "part time" means MWF or TR in our area, not mornings/afternoons, so we're actually paying for full day care for ~3 hours/day of service.)
2) I told him that if he gets a chance to negotiate severance, don't sign anything immediately and also ask for health insurance through the end of the year. Adding him to mine would be $390/month. We haven't looked into ACA at all, we'll do that later if this becomes more of a reality. I vaguely know COBRA is a thing, no idea if that'd be worth looking into but again we'll look at that later. For now I'm using $390/month as a max health insurance cost number.
We have twelve months expenses in savings. We're in a smallish metropolitan area so it could take a while to find a new job just due to limited options. We pay extra to our mortgage, our only other debt is a car loan that will be paid off in a few months anyway and the interest rate is low. Also a credit card that we have for rewards, we auto-pay it every month so I don't really think of it a debt.
When I looked at our numbers in January we were living on one salary and saving the other. We make roughly the same amount, though he makes a little more currently. I want to review the numbers with our current spending since it's been almost a year since last time I looked at it, but I also wanted to know what else I need to be examining at the same time, hence my post here. What else do I need to be looking at?
