Originally Posted by AllyRae
There is no "to what extent" for me. If my family was $4K in the hole each and every month (almost $50K short a YEAR), there would be no way on this earth I would be staying at home. $4K a month TAKE HOME (post tax) would require another full time salary of around $70K a year because taxes will take out a lot of it before it ever hits your bank account. That is not possible with most part time jobs.
Gosh. I wasn't going to post in this thread, but I guess I have to agree with AllyRae above.
Seriously, if we were $4k in the hole each month, I would work. Was the $4k a typo?
I just can't imagine being that much in the hole unless there is zero income and someone has been laid off or died.
I know you are in the Bay area, and it's expensive, and moving to a lower COL city isn't alway possible and usually never easy.
I would cut back, majorly.
Is it really $4k you are short each month?
What is the budget? What elective things can you cut?
We're more in the $400 short range (a little more, actually) and I work and have for the past couple of years. It's hard. It's not my dream at all, and it's not really that good for our family and for our child, but I don't want to go into debt or have debts that hamper what we can do for our child. My H works a lot of hours too (not paid overtime) and goofs off a whole lot and is generally not really helping balance my career and child responsibilities. It's tough. I barely make it through each day and I'm tired, but it seems better than having creditors call or not knowing how we would ever pay off debt.
I would recommend cutting back on all elective expenses to the fullest extent possible.
I've made some major cut backs myself in the past year. A little (or a lot) goes a long way. Good luck!