$1000

[Katrinaquerida]

I have cut all the areas I can think of, and we try to be super frugal, but I am still coming up short about $1000 per month! I need ideas for an extra source of income. DH works full time, I am part-time afternoons, but I have the kids all the time I am not working. So... what do you think? 

[crunchy_mommy]

I posted a thread almost exactly like this a few months back! (Here, if you want to read some of the suggestions I was given.)

The first thing that came to mind for you was taking in an extra child or two during the week, since you're taking care of your own kids anyway...

Can you post your budget?

[JunebugsMom]

We were in a similar boat.  I have 3 children and I am currently working 2 part-time jobs.  Luckily I work from home and can make my own hours--I work evenings and weekends when the kids are either asleep or my DH can watch them.  And sometimes when the older 2 are in school my mom watches the baby so I can work.

[littlest birds]

I have an Etsy shop. But it's hard to target and develop something that can sell reliably and I can't make enough of my toys to hit $1000 per month because I do not have the time. 

It sounds like you are close to maxed out since you are already working PT--depending on your kids' ages, your household responsibilities, and whether your kids are in school.  Child care can be one of the best options for moms, if you are able to keep your house presentable and comfortable for the visiting child/children and your schedule is a good fit. 

[Katrinaquerida]

Thanks for the ideas and encouragement! I would love to take another kid or 2, unfortunately I am working 11 to 3 right now, so it kind of cuts up my day! I could ask around about after school maybe... 

Budget wise, we bring in about 3,000 a month between the two of us. Mortgage is $1200, groceries $300, Gas $150, Electric $160, Netflix $7, Phones and Internet $150, Car $102, Credit Cards $1000. That is what kills us. We have debt from building the house that we put on credit cards (I know, I know) and I would LOVE to magic that away! oh yeah, child care $95 (this is 3 days a week, grandmas watch her the other 2), student loans are deferred for now... I think that's pretty much it, so you see why I am thinking I need to increase income!

I have tried selling some household stuff that we don't use or have outgrown, and its nice to see it get used, but I havent been able to make any money doing it... 

[Katrinaquerida]

Thanks for the link Crunchy_Mommy! What did you end up deciding to do? I hope things are working out for you all!

[crunchy_mommy]

Originally Posted by Katrinaquerida 

Thanks for the link Crunchy_Mommy! What did you end up deciding to do? I hope things are working out for you all!

Thank you! My doctor put me back on disability so for now we are OK, getting just enough to get by. It will run out in a couple of months and I'm not sure what we'll do then if I'm still unable to work -- probably have to go on Medicaid or something since medical costs are what's eating up our budget.

It sounds like the credit card is what's killing you. I don't know a lot about cc debt but isn't there some way you can consolidate or get a low-interest loan instead or something?? I have no idea if that's possible! How much longer will you have to pay on it?

Definitely look into after-school care, or maybe someone needs some weekend help? I would say look for a weekend job cashiering or waitressing or something but I doubt you'd make even close to $1K doing that.

[A&A]

Originally Posted by Katrinaquerida 

Thanks for the ideas and encouragement! I would love to take another kid or 2, unfortunately I am working 11 to 3 right now, so it kind of cuts up my day! I could ask around about after school maybe... 

Budget wise, we bring in about 3,000 a month between the two of us. Mortgage is $1200, groceries $300, Gas $150, Electric $160, Netflix $7, Phones and Internet $150, Car $102, Credit Cards $1000. That is what kills us. We have debt from building the house that we put on credit cards (I know, I know) and I would LOVE to magic that away! oh yeah, child care $95 (this is 3 days a week, grandmas watch her the other 2), student loans are deferred for now... I think that's pretty much it, so you see why I am thinking I need to increase income!

I have tried selling some household stuff that we don't use or have outgrown, and its nice to see it get used, but I havent been able to make any money doing it... 

 Are you paying the minimums on your cards and it's still $1000 per month?  

[Poddi]

Your income looks quite low compared to your mortgage and bills.  Did you use to have a higher paying job?  I agree the trick should be to increase income.  Can DH take a second job or something? 

[Sunshyn74]

You might also look into before school help. There is definitely a need around here for parents who have to leave for work an hour or two before kids go to school. I find this an easy time to watch kids as they are tired and mellow. The downside is that my own kids have to wake earlier. Good luck!

[Katrinaquerida]

Originally Posted by crunchy_mommy 


Thank you! My doctor put me back on disability so for now we are OK, getting just enough to get by. It will run out in a couple of months and I'm not sure what we'll do then if I'm still unable to work -- probably have to go on Medicaid or something since medical costs are what's eating up our budget.

It sounds like the credit card is what's killing you. I don't know a lot about cc debt but isn't there some way you can consolidate or get a low-interest loan instead or something?? I have no idea if that's possible! How much longer will you have to pay on it?

Definitely look into after-school care, or maybe someone needs some weekend help? I would say look for a weekend job cashiering or waitressing or something but I doubt you'd make even close to $1K doing that.

I hope you be able to go back to work soon! 

The credit card is awful. We had to charge a lot to finish the house, things the construction loan wouldnt cover but the inspector said "had" to be done to move it... We tried to get a home equity loan, but don't have enough equity yet to make it worth it. 

[Katrinaquerida]

Originally Posted by A&A 

 Are you paying the minimums on your cards and it's still $1000 per month?  

Yep.

[Katrinaquerida]

Originally Posted by Poddi 

Your income looks quite low compared to your mortgage and bills.  Did you use to have a higher paying job?  I agree the trick should be to increase income.  Can DH take a second job or something? 

Yes. I am a teacher, and I was cut to 1/2 time this year. I have been looking for full-time, but the teaching positions are few and far between. Actually, all jobs are few and far between here!

[SunRise]

I have a teacher friend in CNY - not sure if your district has these opportunities (and I know ours have been cut, so there are less now then there were before) but ... She used to sign up for EVERY offered Teacher Development course in the summer time. Or she would teach it. These are paid positions, both as teacher and as "teacher particiapant".  So she earned extra money during the summer and it also upped her annual salary to the point where she couldn't take any more ... the more development courses she took, the more qualified and the more she went up the pay scale. I suppose since you are in the field you know about it...but its worth a shot.

  Summer school teacher, camp teacher?  Afterschool? Pet sitting / walker?  Perhaps a part time evening position, temporarily, to pay off the credit card (tim hortons, dunkin donuts?).

I hope something comes of it. Good luck

Edited by SunRise - 1/28/13 at 9:42am

[LoveOurBabies]

Originally Posted by Katrinaquerida 

Thanks for the ideas and encouragement! I would love to take another kid or 2, unfortunately I am working 11 to 3 right now, so it kind of cuts up my day! I could ask around about after school maybe... 

Budget wise, we bring in about 3,000 a month between the two of us. Mortgage is $1200, groceries $300, Gas $150, Electric $160, Netflix $7, Phones and Internet $150, Car $102, Credit Cards $1000. That is what kills us. We have debt from building the house that we put on credit cards (I know, I know) and I would LOVE to magic that away! oh yeah, child care $95 (this is 3 days a week, grandmas watch her the other 2), student loans are deferred for now... I think that's pretty much it, so you see why I am thinking I need to increase income!

I have tried selling some household stuff that we don't use or have outgrown, and its nice to see it get used, but I havent been able to make any money doing it... 

Can you change the mortgage payment from principle + interest to just interest? That might save you $300 or so per month.. Money that you can defer to the CC. How long do you have left on the CC @ $1000 per month?

As for jobs:

Paper/catalogue runs on the weekend

Baby sitting or after school care

Proof reading (for high school students)

Private tutoring

[TiredX2]

Originally Posted by Katrinaquerida 

Budget wise, we bring in about 3,000 a month between the two of us. Mortgage is $1200, groceries $300, Gas $150, Electric $160, Netflix $7, Phones and Internet $150, Car $102, Credit Cards $1000. That is what kills us. We have debt from building the house that we put on credit cards (I know, I know) and I would LOVE to magic that away! oh yeah, child care $95 (this is 3 days a week, grandmas watch her the other 2), student loans are deferred for now... I think that's pretty much it, so you see why I am thinking I need to increase income!

I have tried selling some household stuff that we don't use or have outgrown, and its nice to see it get used, but I havent been able to make any money doing it... 

Is this $3000 gross or net (amount paid, or amount taken home)?  Debt outside of mortgage is considered to be "too much"/ unsustainable starting around 20% of income.  Your credit card debt alone (I don't know how much your student loan debt is) is 33% of your income.  I think you've gotten some good short term ideas, but I also encourage you to look at your long term situation: do you expect to have a rapid increase in income within the next couple years (you moving to full-time work, advancement in career, etc...)?  The general minimum payment on credit cards at this point is 2% of balance--- you're looking at $50K of credit card debt on a salary smaller than that.  You might need to do something more extreme.  I'm sorry.

[crunchy_mommy]

OT a bit but do you qualify for student loan forgiveness? Or could you find a teaching job that would qualify you for that? I know the student loans are deferred anyway but might help to not have that hanging over your head in addition to everything else!

If you still have a lot left to pay on the credit card, and you truly can't find some other way to bring in enough money, perhaps bankruptcy is something to consider. OK maybe I'm jumping the gun... I guess there are other options that are less extreme. Perhaps a debt settlement agency could help negotiate that cc debt down to something more manageable. Maybe you can roll the balance over onto a zero-interest promo credit card. Have you consulted with a debt consolidation or credit counseling company?

[rnra]

It sounds like you need something much more than short-term solutions (child care, weekend job, a few more hours at work, selling un-used household items, etc.) if you are going to survive.

According to what you posted, your income is $3000.  You are spending $2200 for your home--prior to home maintenance/repairs, utilities, etc.  That is 73% of what you're bringing in, which is simply unsustainable!

Can you sell the house?  It sounds like you had it custom-built, so selling the home would likely be gut-wrenching.  But, being out from under that pile of debt would be beneficial overall for the family.  Depending on the market in your area, it may also be worth considering renting the house to someone else while you move your own family into much cheaper accommodations to save and get yourselves back on your feet.

Good luck!

[phathui5]

I saw that you're bringing in 3000/month between the two of you and dh is working full-time. Can he look for a job with better pay?

[zersha]

Have you considered quitting working outside the home and doing full time childcare?  Being a teacher would certainly be a draw for families.  It can seem daunting to get started with licensing, finding families, etc, but you could probably make a lot more than you currently do at your part time job, plus you'd save your own childcare expenses (you can also deduct a lot of household expenses at tax time).  I did in home childcare for several years, and it was a great way to stay home with my own kids.