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  1. #1
    dubeaugirls
    Guest

    Default Full time to Part time





    I am playing with the idea of going from full time work to part

    time. I read the posts here quite often and have picked up some

    excellent money saving ideas. I know that this type of transition

    will require quite a budget cut, but I want to make sure I cover all

    my basis BEFORE I make a decision. I am a single Mom w/ 2 girls (12

    & 7). I would probably be working during their school hours, which

    will eliminate daycare expenses. I have medical through my employer

    but I do qualify through the state (I would pay a portion of it). I

    would love to have more time to spend with my girls. As well as not

    being so tired after working a full day and then trying to accomplish

    homework, showers, dinner, and MAYBE squeeze in some kid time, never

    mind cleaning and laundry.



    What things might I be overlooking? What should I consider? It's a

    big step that could turn into a big mistake if not handled right.



    Thanks for any advice.



    Erin


















  2. #2
    Jessica Hess
    Guest

    Default Full time to Part time



    One thing that you should try to do is save up some money to fall back on if you

    need to. I know it maybe hard since now you are paying daycare and insurance.

    Try living as frugal as possible for a couple of months and see how that goes.

    I also made the move. I did not have as much money saved as I wanted, but I

    took the plunge anyway. I really believe that it was the right thing to do and

    I would do it over. I love the Budget101 group and website. I would not be

    able to do it otherwise.

    Good Luck!











    Jessica Hess

    www.amoregiftsonline.com













    [Non-text portions of this message have been removed]














  3. #3
    midsummers_song
    Guest

    Default Full time to Part time





    Hi Erin,

    I don't know if this is a good thought or not. I know that even as

    my husband is full time, and I work part time...we don't even have

    what I am about to ask/mention to you. We should though.



    Anyway, the first thing I thought of when you mentioned all of this

    is a savings account. I know that sounds so nuts, but even for

    married people working full time it is a good thing to have to fall

    back on incase things get tight. I just happened to think of it when

    you said you are single. I mean, with job security the way it is,

    the chances of something happening with two people getting fired,

    laid off, sick, what ever...is slim. But you have only yourself and

    the kids. That is something I would think about maybe working on.



    Then the other major expenses I thought of right after medical is

    dental/vision. Are your kids covered there too...and what about

    yourself?? My biggest bills aren't with the doctor, as I also have

    private/state insurance for the kids. It is the dental stuff. It is

    very difficult to get the state insurance to pay for anything other

    than regular cleanings and fillings...so if you have lots of dental

    issues...look for something to suppliment and figure it in. I'm

    still working on that. My 15 year old needs braces desperately!!!



    I don't know if there is anything else that you would need to think

    of. Just making sure that you could pay the bills and groceries with

    your pay. Also I would plan on all the little things as well in that

    budget, from stamps to socks and everything in between. Atleast

    there are good clothing stores and such to work with, and good

    discount stores to buy groceries.



    I hope it all works out well for you.

    Angela
























  4. #4
    dubeaugirls
    Guest

    Default Full time to Part time



    Jessica, I probably wouldn't be able to do it until I trained someone

    to replace me anyway. I hadn't thought about 'fallback' money. How

    would I figure what I should have saved?



    Erin











    --- In Budget101_@yahoogroups.com, Jessica Hess <m_jhess@y...> wrote:

    >

    > One thing that you should try to do is save up some money to fall

    back on if you need to. I know it maybe hard since now you are

    paying daycare and insurance. Try living as frugal as possible for a

    couple of months and see how that goes. I also made the move. I did

    not have as much money saved as I wanted, but I took the plunge

    anyway. I really believe that it was the right thing to do and I

    would do it over. I love the Budget101 group and website. I would


    not be able to do it otherwise.

    > Good Luck!












  5. #5
    myfreedom59
    Guest

    Default Full time to Part time





    --- In Budget101_@yahoogroups.com, Jessica Hess <m_jhess@y...> wrote:

    >

    > One thing that you should try to do is save up some money to fall

    back on if you need to."





    I know this can be difficult but I have found it to be very necessary

    to have some extra money at times and it did reduce some of the

    anxiety and stress.



    One of the simplest ways to start saving (and how I started) is at

    the end of each day, take all the coins out of your purse and place

    them in a container. When the container is getting full, get coin

    wrappers free from your bank (I refuse to pay for these at a store

    when I am doing the bank a convenience), roll the coins and deposit

    them in a savings account.



    The key to this is to be diligent to do this every day and never to

    dip into the container for money. Don't even count how much you are

    adding daily, just pull out the coins and drop them in the

    container.



    I live in Canada so the savings add up quickly with the one and two

    dollar coins we have here. I started this in 2003 and have found

    that I save about $100 month this way. That's $1200 per year. And

    yes, there have been times I needed to take the money out of the bank

    and use it for emergencies. I'm just glad that my diligence each

    day meant it was there when I needed it.



    Hope this helps.

    Donna


















  6. #6
    dubeaugirls
    Guest

    Default Full time to Part time





    Great advice Angela. I, as well as the girls, would have dental and

    medical coverage. I would have to pay a small premium for my

    medical, but not for the girls. I would refinance my mortgage to

    stretch it out a bit....when doing that I could take some money and

    put it into and emergency account. I also own a duplex (I live on

    one side) and they rent would cover the mortgage and most of the

    taxes. That certainly doesn't solve any problems if I or the kids

    get sick. I would not get paid for time I take off. Would I be able

    to collect TDI if it was something that would require alot of time

    off?



















    --- In Budget101_@yahoogroups.com, "midsummers_song"

    <midsummers_song@y...> wrote:

    >

    >

    > Hi Erin,

    > I don't know if this is a good thought or not. I know that even as

    > my husband is full time, and I work part time...we don't even have

    > what I am about to ask/mention to you. We should though.

    >

    > Anyway, the first thing I thought of when you mentioned all of this

    > is a savings account. I know that sounds so nuts, but even for

    > married people working full time it is a good thing to have to fall

    > back on incase things get tight. I just happened to think of it

    when

    > you said you are single. I mean, with job security the way it is,

    > the chances of something happening with two people getting fired,

    > laid off, sick, what ever...is slim. But you have only yourself

    and

    > the kids. That is something I would think about maybe working on.

    >

    > Then the other major expenses I thought of right after medical is

    > dental/vision. Are your kids covered there too...and what about

    > yourself?? My biggest bills aren't with the doctor, as I also have

    > private/state insurance for the kids. It is the dental stuff. It

    is

    > very difficult to get the state insurance to pay for anything other

    > than regular cleanings and fillings...so if you have lots of dental

    > issues...look for something to suppliment and figure it in. I'm

    > still working on that. My 15 year old needs braces desperately!!!

    >

    > I don't know if there is anything else that you would need to think

    > of. Just making sure that you could pay the bills and groceries

    with

    > your pay. Also I would plan on all the little things as well in

    that

    > budget, from stamps to socks and everything in between. Atleast

    > there are good clothing stores and such to work with, and good

    > discount stores to buy groceries.

    >

    > I hope it all works out well for you.

    > Angela


















 

 

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