I work 40hrs/week at a steady $13.10/hr paying job...I have two children and a garnishment on my paycheck (25% is taken out of it to put toward a debt) - which leaves me barely enough to pay the sitter.
My husband started a "commission only" insurance sales job in April and has yet to earn more than $1000. (which was gas money b/c he has to drive all over Indianapolis)
We have maxed out both of our credit cards, and our bills are stacked from last month.
I'm sad b/c I cannot see my babies (i'm stuck behind a cubicle all day) - and instead I'm paying a sitter 1/2 of what i earn. I cry a lot because of this...and WISH my husband would try harder to make money. I have an MBA - have been applying at about 3 jobs a week - and get nothing but sales bites. Any advice?
2006-07-07 12:01:33 · 9 answers · asked by ohprettybud 2 in Business & Finance ➔ Personal Finance
thank you everyone! and i need to revise i guess...I cried a lot TODAY...(it all just hit me) not usually though. hehe.
sorry.
2006-07-07 12:22:04 · update #1
I have heard like others are suggesting to try Dave Ramsey's way of getting out of debt. The first thing is to sit down with your husband and see if a commission only job is best for the family. Than I would evaluate why you may not be getting any bites for the jobs that you are applying for. It might be time for dad to stay at home to increase your monthly amount. Once you are on a better footing, than your husband may find another job. As you are finding out, having two working parents does not always make financially sound sense. Most financial experts would recommend getting rid of a sitter and have either you or dad stay at home, who ever is not bringing in the most money. I would also suggest finding a credit counseling service that is prorated that my help you for free.
2006-07-07 17:16:49 · answer #1 · answered by andy 7 · 0⤊ 0⤋
With an MBA and in Indianapolis, you are sadly over qualified for a lot of jobs. I'm sorry to hear you are stuck in cubical hell. I, too, am in debt. I'm about a month and a half behind on my bills. I'm a substitute teacher. We get paid $70 a day in South Jersey. So I have to have a second job. And in summer, since both jobs are school related, I'm out of work - which means NO money coming in. I bit the bullet and work nights at Target (paying $9 an hour) and I just started teaching a summer school program at $56 a day.
Because you have kids, there really is no way to "cut" your cash outflow. The babies have to eat. It will ease up a bit when they are in school, no paying a sitter. But until then, your husband REALLY needs to get a wage job and not a commission one. And one close to home. Even if he has to bite the bullet and take a soul sucking job - like you have! Or mebbe even a second job at night. You can't WISH your husband to take a different job. You have to TELL him. Sit him down and go over you finances together. The money coming in vs. the money going out. The numbers don't lie. The numbers are not emotional. He's a man, so he's probably in massive denial that it's as bad as it is. They tend to be oblivious to these things. Or the macho gene make kick in and make him think he has it under control and things can be fixed no worries. It's delusional thinking.
There are only so many hours you can work. And with 25% being garnished for debt, and another 50% for the sitter, that leaves you with only 25% to live on and that aint working. You are killing yourself and that aint cool. I'm sure your little ones can feel the stress in the house.
Best bet. Get rid of the credit cards. They are truly the work of the devil (I'm not religious, but I've found out the hard way how evil those things are!) Go to a cash system. If you have the cash to buy it, then do. If you have no cash, then you can not buy. Make the dollar store your best friend. Only buy groceries when they are on sale. Keep your thermostat at 72degrees. Goodwill for clothes if needed. Mebbe your mum or his mum can watch the kids one or two days a week to cut on sitter expenses?
Hope it helps. Chin up, love. You are so NOT alone in this.
2006-07-07 19:19:41 · answer #2 · answered by princessvic321 2 · 0⤊ 0⤋
Do you have any skills you can sell? Heck, if you are healthy all you need to do is offer indoor painting services via a flyer. Anybody can do it. You can make a lot more than what you are getting now and your husband could too. If your husband is working for a mainline insurance company he should be getting paid a salary, at least for several months. If he is working for straight commission he may be sucked into a scam. Ask him to ask some financial planners their "off the record" opinion of the company he works with. I won't name any companies publicly, but if the company name begins with the letter P, then be very wary. There are many sales jobs where you can get a salary of a couple thousand a month while you are getting started. He needs to put some time into looking elsewhere.. The person that mentioned Dave Ramsey is right on the money (pun intended) - get his book!!! Follow his advice!!!
2006-07-07 19:35:41 · answer #3 · answered by rob c 3 · 0⤊ 0⤋
Gee, I feel sorry for you. If you cry a lot, you are possibly depressed and that would cloud your ability to make decisions and move forward positively. First get some SSRI's and clear the depression, (you will be more hire-able). Then you could get a second job for just a few hours earlier in am or after kids in bed. or See if your company will send you to school a couple of nights a week to upgrade. What's hot now in Canada is senior care, companion care. Good Luck. Things will change. Also go back and see if you can change the terms of that high garnishment. What about babysitting with your kids and others on the weekend. Most daycare refuse to work on weekends.
2006-07-07 19:14:17 · answer #4 · answered by B S 1 · 0⤊ 0⤋
A couple of ideas. Any relatives that could temporarily watch the kids at a reduced fee until you get on your feet. Sit your husband down and calmly lay the bills out. Maybe he doesn't realize how serious the situation is. Figure out how much you need to make a month to keep your head above water. Your husband may have to take a weekend job until this job starts to pay or he may need to rethink his employment entirely. Final idea, if you miss your kids so much- why not stay home with them and take in a couple of kids yourself. They'd be truly lucky to be looked after by an intelligent MBA. Good luck.
2006-07-07 19:28:21 · answer #5 · answered by mwardmward 2 · 0⤊ 0⤋
I am a success coach. It sounds like you are buried pretty deep. I can make some recommendations that may help. If you or your husband has more time in the day, I can recommend some work from home solutions that will add to your family income. At first it will only provide a few hundred extra dollars per month. It can grow to several thousand after a while. Email me so we can exchange numbers and more details. boatclub@go.com . All advice is totally free.
2006-07-07 23:09:42 · answer #6 · answered by Via Bruce 4 · 0⤊ 0⤋
I don't know exactly, but there are a lot of country songs about having less than nothing.
The only option other than being broke that I can think of is: Not being broke....Of course that affects the having less than nothing paradigm. As we can see, sometimes country music is more confusing than physics.
2006-07-07 19:07:59 · answer #7 · answered by rayhanks2260 3 · 0⤊ 0⤋
Read the book "Total Money Makeover" by Dave Ramsey. Also go to his website.
2006-07-07 19:06:37 · answer #8 · answered by pappa_15 3 · 0⤊ 0⤋
honey to me for starters you need to give your husband a ultimatum cause if he had a better job it would not be so bad.
2006-07-07 19:10:10 · answer #9 · answered by Anonymous · 0⤊ 0⤋