Need serious advice on income to SAHM

[raysnkaysmom]

Here's the deal... I've worked full time for as long as I can remember, always been the main income in the house. At the beginning of this year, we started a residential remodeling company that is doing fairly well, but still not stable enough to depend on with 4 kids (plus the medical insurance issue).
We are also in the process of starting a photography company, for us to do together, make side jobs on, and hopefully eventually allow it to grow to more.
But, tonight, at work, I was informed I"m being transferred to another location AND taking on a different position. I am NOT happy about it. I even contemplated about a month ago quitting altogether because I just have been so burnt out, and felt so neglectful of being with my kids. Sitter issues have come up and it's just been alot going on lately, and I've felt it'd be worth the initial pay hurt to be there for the kids, but financially, I don't know we can do it either.

So, what I want to know is, is there SOMETHING I can do to help supplement income if I do decide to leave? I know I'd get to really focus on growing our remodeling company, but I'd like to have additional resources as well...

?? TIA

 

[kwelch10377]

What is your current job?

 

[raysnkaysmom]

What is your current job?

Retail Management....

 

[minkydog]

I guess the answer is going to depend on who's carrying the health insurance. If its you, then I think you need to stay put until something better comes along. I know you must feel burnt out, and I would do if I were trying to do 3 jobs at once, like you are. Perhaps this is not the time to take on a photography business that you can work on the side. I would have to say, don't quit this job until you have something better lined up AND you have your health insurance in order. With 4 kids and 2 adults in the household, it's only a matter of WHEN someone goes to the doctor or hospital. Don't take that chance!

 

[raysnkaysmom]

I guess the answer is going to depend on who's carrying the health insurance. If its you, then I think you need to stay put until something better comes along. I know you must feel burnt out, and I would do if I were trying to do 3 jobs at once, like you are. Perhaps this is not the time to take on a photography business that you can work on the side. I would have to say, don't quit this job until you have something better lined up AND you have your health insurance in order. With 4 kids and 2 adults in the household, it's only a matter of WHEN someone goes to the doctor or hospital. Don't take that chance!

lol..yeah, we were just at ER yesterday wtih DF, the only one without insurance....

We are working on the health insurance aspect, and I'd like to find something maybe part time that offers health insurance too... (some companies do, like the one I'm with now)

I know I can't quit right now, but it's been a struggle everyday for the past month or so, this was just the icing on the cake. I never hated my job before, so the pressure there to put me in this situation has become unbearable. And, again... at home, I have a teenager starting high school, a 9 yr old who was having disciplinary issues right at the end of the school year and I feel will go in the wrong direction without more adult supervision at home (I am gone approx 10-12 hrs daily). and then the 2 babies, who stay with grandma during the day, where I've had to miss work some because grandmas health hasn't been the greatest...

I know I know...maybe I jsut want someone to tell me to do it (stay home) and it'll all fall into place. I'm smart enough and care enough about our financial stability not to do that, but sometimes I wonder if the sacrifices are worth the sacrifice....(if that makes sense).

 

[kwelch10377]

Retail Management....

I feel for you...I have worked for Staples for many years, first in the stores and now in the Home Office and I don't miss working that retail schedule.

I think the tough issue here is going to be the health insurance. If you quit working would your income level qualify you to get free insurance or at least low cost insurance for your kids?

Some possibilities might be to find something PT with a little bit more of a stable schedule or you could also see about babysitting at your home, but that might be tough with already having 4 of you own.

I think what comes down to it is if you have doubt as to whether you will be able to get by each month if you quit, then you need to stay. I know in general any situation can change, but if you end up quitting on put yourself in it, I think you might really regret it.

 

[teskak]

With all of the stuff happening in your family health wise + your ticker talks about a wedding in 2 months, it is not worth doing anything at the moment.

Your cup is full, and the diary should be blocked off to all new projects for at least the next 3 months. If your step father has the surgery that is contemplated, it is not just in hospital in a ward for several weeks but full scale ICU for several weeks before any further treatment.

As you have commented in other posts this week, there would also be a good chance of having to leave to take your children for "final visit" at short notice. As well as supporting your family, dealing with very worried children etc.

If you were to quit your work, how would any clients of your small business go with "sorry I cannot make your committment, I have to go" when you made the initial booking knowing you might have to dump & run? They are extraordinary circumstances, but any missed committments means negative goodwill that you will have to rely on for future work.

If you got employment somewhere closer to home, how will the new employer go with the "new hire" having to leave at short notice for urgent family arrangments? Especially if you are still on probation etc?

Good ideas, and great to distract you from the pain you are about to walk into, but not right now.

 

[Christine]

I am a very fiscally conservative person. While my kids are THE most important thing on my list, my job is a close second only in the fact that it keeps my #1 kids in a house, with food, a little fun here and there, and health insurance. I would not do anything to jeopardize that. Period. Even if I had a child with issues and needed more time from me, being able to live and pay my bills and provide healthcare is number one. Because if that fails, we would be in HUGE trouble.

I realize it is stressful and you want to walk away from it all and have more time for yourself with your kids, but you really need to think about it. Ten years ago, in a better economy, I think it would have been okay to take a risk and take some time off. Any experienced employee could easily walk back into the job market. Not today.

I would definitely fear for you losing your job, not being able to get supplemental income (it is rare to find that ability), and then having something go wrong and needing to get back into the job market.

Try to ride it. Spend some time trying to think of other ways to work with your son (I know, not easy).

But read my first sentence too. I'm pretty risk adverse.

 

[aprilgail2]

If you are the one carrying the health insurance through your job for you and four kids then it would be a very stupid move for you to quit a job.

 

[LuvOrlando]

I hate to burst your bubble but with the Economy the way it is right now chances are the 2 new business you are trying to grow are not going to make it. It's wonderful you have them for extra income but I happen to think things are still going to get worse job-wise. From a professional standpoint, if your 2 businesses are causing a great deal of stress abandon them and focus on your family and other job because the one you have is probably more likely to remain intact than anything dependent on other people's disposable income like photography and re-modeling. I'm sorry if this is not what you want to hear but my heart breaks every time I hear about another family going under over stuff like this. Right now is not a good time to make these changes, maybe in another 3 years things might re-stabilize but here and now I can't imagine anyone saying it's a good time to take chances with jobs. Whatever you do I wish you lots of luck.

 

[golfgal]

Retail Management....

I was going to suggest working retail part time evenings and weekends so you don't have to worry about day care but maybe not.

Waitressing might be a good option. If you can work at a nicer restaurant with higher tabs, you can earn pretty good money in a short amount of time. If you worked one weeknight and shifts on Friday and Saturday you can probably bring home $500-800/week.

As for health insurance, go online and price out some individual plans. Since you own a business, your premiums are now deductible if you show a profit on the business. We just priced out individual plans for our family of 5 and for $577/month we can get a plan where you have 3 visits/year covered at 100%, well child check-up covered at 100% (which we don't use any longer), $5/copay on prescriptions, then we pay $5000 deductible, then everything is covered at 100%. Since there are only 4 of you and you are younger, that same plan for you would be in the $400 range. The only sticking point would by your DF since he doesn't have insurance now, they may exclude some preexisting conditions but the rest of you, since you have insurance, they can't exclude preexisting conditions--they can deny you but as long as you are generally healthy you should be fine.