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UPDATE My husband did ask for his job back, but changed his schedule to work during the week. The extra money coming from his income was hard to give up in light of our debt reduction situation.
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My husband came home from work on Saturday and told me that he gave his notice at work. It has been something that we have discussed him doing, seeing as though I am working a few different jobs right now and he should really be focusing on developing his business and getting more clients.
I just didn’t know he’d was going to do it so soon, and when he told me, I had to catch my breath.
I want him to do it, and I want his business to succeed. At the same time, I get the feeling of uncertainty in my stomach. My husband’s income contributed about $500/month to our total income and it has been helping to pay more towards our debt recently. We will no longer have that, so I have been busy taking a look at all of our expenses and running various scenarios in my head. Where can we cut? Are there any monthly payments we can eliminate right now to free up extra money per month? May 31st is his last day, so I do have some time to think things through.
I believe in my heart this is for the best, but with any great leap of faith…it’s tough.
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Posted: April 24th, 2006 at 3:08 pm
Wow, Sounds like you’ve got some things to think about. My husband was laid off in January and it has been a huge adjustment for us. He was making over six figures and he isn’t any more. We had to cut down on our bills too. I don’t know how we did it but we cut $400-450 dollars off our monthly payments. We just basically sat down and looked at the things that we didn’t need. The first thing to go was all the premium movie channels and what not. Then we got a family plan on our cell phones instead of having 2 differnt bills. Of course we got a huge chunk of change back from taxes and we paid off all but one credit card. And of course we didn’t buy anything and we stayed home a lot. Maybe this will help you some.
Posted: April 24th, 2006 at 4:01 pm
Posted: April 24th, 2006 at 4:17 pm
Ashley - The biggest monthly payment I can cut out right now is paying off our car with part of our tax refund. That’d be around $250/month. It’s so hard to do that though because it will be paid off in September of this year and we have basically paid all the interest on that loan already. I’m sure I’ll figure it out - I just wasn’t expecting it so soon. I have to get cracking
John - Well, if I say - it will probably give me away. For now, I like some anonymity
But, I will say that about $10,000 of the credit card debt was from purchasing things last year that he needed to make his business a reality.
Thank you both for taking the time to comment
Posted: April 24th, 2006 at 8:13 pm
My partner quit his job in january to concentrate on his Freelance design business. It was certainly somewhat scary for me, but allowing him to concentrate full time on developing his client list has been extreemely beneficial for his business. While he hasn’t yet replaced his “regular employment” income, he is well on his way. Have faith. After all, I have always heard you will never get rich working for someone else.
Best of luck to your husband and you
Posted: April 25th, 2006 at 9:59 am
We are pulling for you. I am sure everything will work out just fine. =)