Getting serious about the cash

I vent a lot about my financial woes here at BGIM, in part because in my day to day life outside of a small handful of folks, I really don’t discuss money at least my money or lack thereof. Granted I talk a lot about class issues especially as they relate to the middle and working class but there is a huge difference in talking class as a general topic or as it relates to my work versus a discussion about the dreary state of my finances.

For the past several years, I have watched our income slowly decline…its funny because I graduated with my masters degree in 2006 and when I started the grad school journey the plan was that our income should grow…only problem was that the Spousal Unit’s income started dropping in 2006 and in 2007 the US economy decided to thwart me and I ended up a casualty of the beginning of the recession when the school I was teaching at decided my department should be closed.

I have sat by for a few years praying and hoping that things would change instead they have only gotten worse. We made some changes to our budget since losing several thousands of dollars a month meant we had to cut back, yet through it all there was one line item that until recently I considered sacred. It was the one item I felt we could not give up. What is it? Full time childcare for the girl. Now I have mentioned over the time that my girl is high energy, I love her but I admit I have often been glad we get a break, the old saying absence make the heart grow fonder!

Well mini me aka girl child is now 4, and old enough to go to a traditional very pt preschool, its only 9 hours a week but she will still get some socializing in and I will get a few hours a week to myself. Now how is this going to work with our work schedules? Thankfully unless I am in a meeting, I can actually bring girl child to the office with me since after all, what’s in my office? Kids. At 4 she is old enough to hang out in some of the programming that is offered by my center and being the head cheese also known as the director, there is no one on site that I report to since everyone who works at the center reports to me. Definitely a good benefit.

The Spousal Unit has created a space in his office for girl child to hang out in when he is working and I am not available, also right now there are only two weeks a month that the Spousal Unit is super busy so the plan is to trade off watching her around our schedules. If I have meetings that are not when she is at preschool, he will watch her and when he is uber busy I will watch her.

I have to be honest this new plan is scary since I am not exactly a SAHM, I have a job but I also have no emergency fund and a stack of extra expenses coming up as well as some bills that need to be addressed. One of my creditors, in fact one of the most pressing ones has made me an offer and with the money saved from no longer paying for ft childcare we will be able to get this huge burden off our backs.

I admit when this idea hit me last year I eventually said no, but this year there is a sense that we no longer have the luxury of having ft childcare, not when we have work schedules that do allow for our daughter to be cared for at home.

So while I am nervous about this change, I am also excited to know we have a viable plan for changing our financial situation for the better despite not having an actual increase in salary. I am reminded that in tough financial times, sometimes we have to think out the box and look at what we really need versus what we really want. For too long I have said ft childcare was a need when for the past year its really been more of a want.

Is there anything in your budget that you think is a need but deep down you know its more of a want? If so what are you willing to change?

5 Comments
  1. August 23, 2009
  2. August 26, 2009
  3. August 26, 2009
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