Newbie here with lots of ?'s

iVillage Member
Registered: 04-30-2003
Newbie here with lots of ?'s
3
Thu, 04-01-2004 - 1:52pm
Hi,

I am here from the Aug 2004 expecting board....with #3. This sweet gift was a total shock...as we really thought we were done and had struggled with infertility for the other 2 kids,this one came all by itself!! Here's what I want to know...how do you go from full time work outside the home to one income??? I work 3 nights a week (7p-7a) at our local labor and delivery unit. While I love my job and seeing new lives born....the night shift after 9 yrs of it has really taken a toll on me, and I know with a new little one it will be worse. My DS was born 4 yrs ago and I was working nights then too....I was miserable because I didn't sleep well....there was no one to watch hin until he was about 7 months old....so I worked mainly weekends or just slept when he slept in between breastfeeding and working....I was a wreck. I hated that my weekends were spent away from my daughter, son, and husband....and he was the one going to all the soccer games and doing family stuff. There is no chance anytime soon that I can move to a day slot at my current job. So I would like to just go back on a "as needed" basis....but how do I make it work when we will lose about 1500 a month??? Are there any good work from home programs? I told my DH I was willing to let our van go back..which I really don't want to do, but it will help a little. I have thought about selling Avon, Mary Kay, or Pampered Chef....but I live in a small town with lower-average income and I don't think people will be easy to sell to....and the next biggest town....well everyone and thehir dog sells everything you can imagine!! LOL!! I really want to do this, but I can't make a plan that looks good....DH seems to be semi-supportive....he wants me to be able to stay at home, but he really does not see how we can do it without going into a bankruptcy. Any advice is greatly appreciated....

Thanks, Jodie

Jodie....working mom to Hannah, Ryan, and Holly!
iVillage Member
Registered: 02-26-2004
Thu, 04-01-2004 - 2:35pm
Hi Jodie-

I wish I had answers for you, but I don't. I did want to write to let you know that I'm in a similar situation - I made almost as much as my DH, so when I quit work our income was cut in half. I've NEVER lived on a budget before - my parents were well-to-do, so I didn't want for much growing up. And we're in our 30's, and have made pretty good money for about 10 years with no kids - so if I wanted something, I got it.

My DS is 10 weeks old now. Finances just kind of work themselves out. There's been a couple of times where I've been frustrated with not having the cash available for things right when I want them - like I've somehow dropped 20 pounds from my pre-pregnancy weight, so I'm swimming in my pants because there's no money for me to buy new stuff right now. But I wouldn't change it for the world.

Good luck!

Michelle

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iVillage Member
Registered: 02-11-2004
Thu, 04-01-2004 - 3:51pm
Hi Jodie, I too was from the August expecting board. Our computer crashed in my last month of pregnancy, and I was so sad that I couldnt get on and keep up with everyone. Its nice to hear from you.

Anyways about the finance situation. Do you own your own home? Interest rates are so low right now, We just refinanced and took our payments way down due to the drastic difference in rates. If we needed we could have combined other bills to that to cut out those monthly payments also. I was amazed at the difference. Concider looking into that.

Also insurance. Do you have your cars and home on the same policy? You can save a bundle that way too. Those are some things we have just recently discovered, and has helped us alot. Read the post "What do you do to save money" it was recently posted and has a lot of neat little things, that add up. Good luck to he adjustment, it will get all worked out, and then you will see the huge benefits.

Look forward to hearing from you here.

violet

(when in August was your baby born?) I was due Aug. 25, had her on Aug. 4
iVillage Member
Registered: 11-19-2003
Fri, 04-02-2004 - 1:44pm
I quit my job almost a year ago and also made as much $ as my hubby so it was a shock at first. I cashed in a 401k plan from my old employer and we refinanced the house too. We folded in our car payment so we only have the mortgage now -- note ALL interest on the mortgage is tax deductible; car payment interest is not. That helps lower our overall tax bill. We only have 1 newer car and 1 older one. We could use a new one, but its not reasonable now. My budget plan is -- don't buy anything you don't really, really need. Ask yourself a key question before you buy something - "do I NEED this? or "do the kids NEED this?" Also, don't throw things away. For example, I kept last year's easter baskets, grass AND easter purses, hats gloves for this year. I go to LOTS of yard sales, "rent" books at the library instead of buying them (even for the kids), I "recycle" a lot of things (alum foil, snack baggies, etc.) I serve a lot of fruit/veggies and rice for meals because they cost less than chicken and beef. Try eggs for breakfast instead of expensive sugary cereals - they cost less. Also, we ALL eat out a lot less!

Also, you might be surprised how much lower your household taxes will be without your income. If you were making a lot of $ yourself before you quit, you may be in a much lower tax bracket now without your income. Your husband may be able to lower his withholdings from his paycheck so he gets more $ in take-home pay. I would not go into the Mary Kay, Pampered Chef stuff. You have to pay upfront for the supplies and may get stuck with them. I think it would be more stressful to try and sell the stuff than its worth.

Best of luck to you. Its the hardest thing you'll ever have to do!