Back down to one income...

[acox68]

Hello, all,

It's been a little while since I've posted, but I need this place now more than ever! My DH quit his job a few weeks ago and we are back down to one income again. He will be going back to school full time. The faster he can get his degree, the better! I will get my associates by the end of this year, but then there are 2 more years until the bachelors will be finished.

My income will allow us to survive, but we have to be really frugal and careful about it. When my husband was working, we spent a lot of $ on take outs and other extra things...now that he's not working, the spending MUST slow down again. We are making more meals at home now and watching everything that comes in and out in terms of the $. I am still in the mindset that he is still working, so I need to change my mindset again.

DH is still doing his freelance computer business, but with these hard economic times (especially in Michigan), there has been more bartering than actual cash coming in. Most of his customers aren't doing well financially which has had the trickle down effect.

I just found out that starting soon I will have to start paying for a portion of my health insurance through work. It will be a group rate and pre-taxed, but it will still increase our payments on health related stuff. With this news, we will now only be able to break even each month.

I need lots of help. We were able to be frugal before and do well on my income, but this time around the transition has been a bit harder. How does one change their mindset again?

I am going to look around and see what I can find on the site about living frugal. Maybe if I spend more time here, it will do us some good...

Thanks for listening to my long post....I just needed to come to terms with the situation....

Andrea

[perSue]

first, i hope for patience for you through these times.

one thing i wanted to add was that when a friend of mine did contract work, when his customers weren't able to pay in case, they'd offer food or goods for his services. sometimes, all he wanted was a good homecooked meal, and to go work at someone's house, and take home a hot plate made him more than happy! and depending on what the service is, you can probably barter these things.

just a thought.

[leezza]

Andrea,

Hope you don't mind me saying what's on my mind, no offense ment.......

Yikes! what the heck was DH thinking qitting his job???

Can't he at least pick up something part time to help you out some????

*****************************

I have found the things that help me the most are:

*being organized on grocery shopping, use flyers, store cards, coupons, shop loss leaders, ect.....

*staying at home, the less you are out and about the less likely you are to spend money.

************************
JMHO,
leezza

[acox68]

Leezza, I can understand your question. We were both working full time and going to school (me part time, him full time), but it just got to be too much. It seemed like before when he was just going to school before that things were running much smoother for us and we had a better lifestyle. We always had a nice, homecooked meal on the table and the house was much cleaner. Besides, his work was starting to interfere with his schooling which in our minds is the #1 thing to finish right now. He will be done with his bachelors by the end of June, 2010, if not sooner, so we had to sacrifice something. So, we are just looking at a short-term sacrifice for a longer term gain. It's just scary in many ways because we have changed our lifestyle again. He really helps me around the house with laundry, cooking, cleaning, etc. so I don't have to do as much around the house and try to keep up with school. If all else fails, he WILL get a part time job though. But as long as we can keep up with what we have going, it will be better in the long run...

Andrea

[Preston]

Breaking even every month might not cut it -- with rising costs on everything.

Maybe he should consider a part time job. It might not be much, but it might save you. Nothing too strenuous.

[Marie78]

I wish you luck, you will make it through. You and your husband sound dedicated and like you know what you want. There are so many great ideas on this site. I made it through several months of unemployment last year by visiting this site daily and getting ideas to help improve our budget. I also kept my debt down and continued to pay all of my bills on time. I don't think I could have managed as well if I hadn't found this place.

My fiance is in graduate school and thankfully he gets a stipened to live on, the amount only pays for him, but I work and we get by. The 1st two years were difficult and we only lived pay check to pay check. As our situation has improved a little this last year, we have hardly noticed because of the rising price of gas, groceries, and health insurance. Hang in there, it's easier to endure a strict budget when you know it will benefit your future .

[PAVallygrl]

Acox. See if your employer has a Flexible Spending Plan. You allocate a certain amount out of your check every pay period and you can then submit for reimbursement for things like co-pays, Rx, cold remidies etc etc. That could help with that portion of the Health/Dental/Eye care. I have it and it's great! Almost like a inking Fund But be careful not to overbudget cause if you don't use it all by the end of the year the IRS makes you forfiet the balance.

[larabelle]

You can do it....I have several friends who did the same thing.
Just budget, budget, budget and look on this site on a daily basis there are so many great tips to glean from all of these wonderful ladies.
Just remember this year does not have to be pleasure free...use your student identification to get into free entertainment (sporting events, theatre productions etc. on campus).

[acox68]

Thank you ALL for your encouragement! Any time there is a change, it is sometimes hard to adjust, but I know we will make it through OK. I just have been having these little mini panic attacks lately. It will be fine though....

PAVallygrl, we just joined the flexible spending plan for uninsured health benefits this year through my employer. We use it for my prescriptions and for doctor's visits, contacts, glasses, etc. It has been a lifesaver so far because I am on several medications that cost $20 each every month! The $95 that we put in each check only really costs us about $65. I just have to make sure we spend everything before March of next year!

Andrea

[Jskell911]

Well, it sounds as if you and DH gave it a great deal of thought. Hope you are able to manage ok, so DH can finish quickly. I like that you have a plan B of DH getting a PT job if needed. Good luck