7 month goal help appreciated

**alarosalpn** · 05-02-2011, 09:46 PM

As many of you know I just lost my husband 2 weeks ago...We have a 6 yr old son and a child on the way(I found out 4 days after his passing that we were pregnant)
My husband was a stay at home dad...He got our son on and off the bus and was here for half days and no school days...Our son never went to daycare...
Our 2nd child is due in December...I will be recieving SS checks for our son and when the baby is born I will get another SS check for him/her...

What I am hoping for is to continue working 40 hours/wk and save as much as possible until the baby arrives and then cut my hours down to 24 hours/wk(that is the minimum to keep my insurance)...
I'm looking for help on how to calculate if I can make it or not with that cut...
Keep in mind that I was the sole provider of the family....

What facts exactly do I need to consider?
Greebo? Your financial advice? And anyone else?

Thank you

**Greebo** · 05-03-2011, 09:50 AM

I'll need to see a complete budget (income and expenses) and balance sheet (assets and debts) before I can offer any real input.

Otherwise its pretty simple - if you can earn enough in 24 hours to cover your expenses for the week, you can do this. Ideally you should earn enough to not only cover expenses but have a little extra to save.

**alarosalpn** · 05-03-2011, 10:06 AM

40 hours income(net): $780/wk=$3120 (4 wk month)

outgoing:
mort=$330/wk=1320/mnth
electric=$150(this should go down dramatically-DH was stay at home dad so we had almost 24 usage)
gas=$150 (this is winter months only and also should go down dramatically)
cable,phone,internet=$180 (this is the cheapest plan around here)
groceries=$200/m
fuel/car=$160/m (thinking this might go down also)
taxes=$70/m (pd every 3 months)(thinking this might go down as well since its water and sewer taxes)
car taxes=$180/yr
car ins=$67/m
gym=$21/m (may end up canceling this)
cell phone=$50/m
drs visits=$200/yr (estimate)
prescriptions=$80/m (estimate-havent filled the 2 I need for the pregnancy)
cigs=$65/wk (please dont bash me on this one I'm trying)
before and after school care for DS=$60/m

cant think of anything else....If I missed something let me know and I'll add it...

In addition to my 40 hour income I will be receiving $627/m from myDH SS for our son...When the baby comes that will go up to $1255/m

I'm guessing my 24 hour pay would be about $460/wk....

**alarosalpn** · 05-03-2011, 10:08 AM

I have no CC debt cause I dont own any...anything on my credit report is medical....I plan to wipe that clean with taxes this coming year...
Assets? I have a 401k through work that gets deducted from my pay...
not sure what else would count

**Greebo** · 05-03-2011, 10:28 AM

No other debts?

And um, honey, the baby in your belly is the last child your husband will ever make. And you're smoking. While pregnant. **** the $$$ this stops NOW.

Do not tell me you're trying. I don't wanna hear that crap.

You quit, you quit now, you flush every single cig down the toilet, THIS MINUTE, and you don't buy one again!

You take CARE of that baby in your belly and suck up the craving pains. Don't even suggest I don't know what they're like either, I used to smoke 2-3 packs a day.

**alarosalpn** · 05-03-2011, 11:20 AM

my dr knows about the smoking...I've cut down and I started Zoloft today which should help...The metabolic stress on the body and baby are worse right now than the nicotine...Once 13 weeks hit I'm in a whole new field..Then I can fight through the cravings and the anxiety attacks I'm having...
I will be seeing my Dr every 2 weeks till then.

As for the debt question...no...just the mortgage

**Greebo** · 05-03-2011, 11:26 AM

Ok - glad to hear it. I would have a very difficult time advising you if you weren't quitting - so I'm glad you have a Doctor's help on that.

Budget wise this all seems doable - your income at 24/hrs a week will be going up (780/40*24)*52/12 + SS income. Plus while you're working and pregnant you'll have extra income.

Put all that extra money towards savings so you have a nice pile in reserve when baby comes - then after you deliver, you should still have a few extra hundred a month after your needed expenses.

**alarosalpn** · 05-03-2011, 11:35 AM

Thx Greebo...I appreciate your help...

There is one bill that I forgot about for a minute...My husbands ICU bill...I still havent recieved a bill that I owe (after they bill my insurance)...However,I am still waiting for the attorney to let me know if they are "taking" my case...If they do I believe they are going to include that bill in the lawsuit...

**Greebo** · 05-03-2011, 11:47 AM

If you do indeed have a case against the hospital - and you very well might, I'm no expert - then who knows - you might end up doing a fair bit better than simply not owing a penny.

Not as if that will ease the pain any - but it'd be something...

**alarosalpn** · 05-03-2011, 11:57 AM

It's more like a multi-million $$ case...He already went through the break down...it'll take 3 years from start to finish..The attorney gets 1/3, Then $150,000 off the top is mine...The remainder gets split by probate 50/50...50% goes to me and 50% gets split into trust funds for our children...
Sadly, some family have already held their hand out to "keep them in mind"....

**Greebo** · 05-03-2011, 12:03 PM

Yeah, your family can stick it. You need to keep yourself and your children in mind. Anything you may get from this case, assuming it's anything at all, needs to be focused on YOU AND YOUR CHILDREN and them alone. Only after you're back on solid ground both financially and more importantly, in your own head, should you be making ANY plans for anything beyond simple survival, and that includes giving any extra money away.

I can't imagine the pain you're in - I honestly can't - I know if something like that happened to Cea my braincells would stop functioning for a long time.

You just focus on getting through this - let your lawyer worry about the case, you worry about you, your child and your baby on the way, and your "hey don't forget us" family members can suck it if they think they're gonna profit from your loss.

**alarosalpn** · 05-03-2011, 12:30 PM

IF it werent for our son and this baby I wouldnt be functioning at all...The pain is unexplainable...what I can say is now I know what they mean when they say "a broken heart"....It is physical pain in your heart....(not like a heart attack)
The anxiety attacks are almost unbearable...fightening...
I would rather struggle and be broke than be going through this...

**xtena** · 05-03-2011, 01:12 PM

Get yourself into some kind of grief/loss therapy. Some churches offer a very low cost program called GriefCare (or maybe GriefShare?). An acquaintance who lost her husband last year enrolled herself and her two young girls and she said it really helped.

**Cyrano** · 05-10-2011, 05:40 PM

find a way to get therapy, the baby is feeling your emotional pain

**itlw8** · 05-13-2011, 03:26 PM

one thing you listed before and after care for your son but school will be out soon. Have you found full time childcare for the summer and what is the cost.