I'm sure this is nothing new here

manic mama

I don't think I've ever posted here and I'm sure I'm posting something that comes up all of the time, but I looked through some previous posts and didn't really see anything that helped.

Is anyone here freaking out about money? I started working from home nearly a year ago and things were going really well, so we decided I could pull this off and we could start our family and I could stay home. Now I'm afraid I won't be able to cover the taxes on the money I earned earlier this year.

I lost a couple of clients, it seemed, immediately after the stock market plunged. Now I'm terrified that we can't do this. DH says it'll be ok and I'm not sure he relaizes how bad it is. Talking about money freaks me out and DH immediately starts talking about how he needs to get a better paying job and I just feel more and more guilty.

So any soothing words of wisdom? Or maybe just some commiserating?

smilejenn

I think everyone is worried about money and the future right now. Even those who are in a two income family with well paying jobs need to worry about possible lay offs, downsizing...not to mention our horrible everyone's 401ks are.

axr8111

Yes I agree, money can be a stress sometimes, but you really can't put your life on hold because you are so stressed. I mean, is there anywhere you can budget more? You said you are thinking about starting a family soon and so maybe having less work is a good thing and maybe it means it's a good time to start your family. Yes, I think money can stress any family out. I think It's a common stress, but what I remind myself, is that staying home and watching all the new firsts of my son isn't worth any amount of money. That's what keep me feeling less guilty. I will also say that since staying home, my husband has really gotten a fire under him to do well at work. I was worried this would stress him out, but really I think it's motivated him in such a way that is very positive. We're both happier.?

manic mama

Thanks guys!

Axr - I think my ticker is showing, you never can tell with the bump/nest.

We'll be having our son in March. So there's no turning back now! Which may be why the stress is increasing, I guess.

Hormones+bad economy+Christmas= freakout!

JDCSKF

Yup, I started freaking out about the money/economy thing a couple weeks ago. I have put all purchases on hold. We haven't gone out to dinner in over a week and a half (we usually go out once or twice a week). I figured out homemade Christmas presents for everyone last week. Everytime DH says, "we should get x this for Christmas, it's only $50" I freak out and tell him I have x's homemade gift already in the making.

I don't want to go back to work, and DH doesn't want me to go back to work, so we are just going to see what happens.

 BTW, my homemade gifts this year are: Day After Christmas baskets, which will include: pumpkin scones, snickerdoodle muffins, homemade jam (it didn't set right yesterday, so I am trying again today. If it doesn't set, then it will be pancake syrup), Cranberry Infused Vodka, and homemade Irish Cream.

mandymack

You fears seem totally validated and normal but DON'T freak out because 1) that isn't going to change anything and 2) it'll just bring undo stress to you and baby! 

What about getting a job outside the home now, while you are still pregnant?  Lots of "seasonal" jobs at places like retailers, Crate & Barrel, Michael's, Pottery Barn, etc. are opening up right now (I see signs all the time!!!)? 

Is there anyway you can pick up more work in your WAH job? 

Can your husband pick up a second job, at night or on weekends?

How about drastically cutting back your budget (like getting rid of cable and your home phone, reducing your cell phone bills, cutting back on groceries, clothes, and toiletries?  

I know this seems like a scary time right now but take a deep breath and just get serious about saving more and making more money and I bet something will come up for you guys!!!  

christin3580

JDCSKF:

Yup, I started freaking out about the money/economy thing a couple weeks ago. I have put all purchases on hold. We haven't gone out to dinner in over a week and a half (we usually go out once or twice a week). I figured out homemade Christmas presents for everyone last week. Everytime DH says, "we should get x this for Christmas, it's only $50" I freak out and tell him I have x's homemade gift already in the making.

I don't want to go back to work, and DH doesn't want me to go back to work, so we are just going to see what happens.

 BTW, my homemade gifts this year are: Day After Christmas baskets, which will include: pumpkin scones, snickerdoodle muffins, homemade jam (it didn't set right yesterday, so I am trying again today. If it doesn't set, then it will be pancake syrup), Cranberry Infused Vodka, and homemade Irish Cream.

Should I send you my address so you can mail my basket?

 

jen5-03

I don't worry about it much.

DH has a decent job, I work part-time. It would hurt if we lost one of those jobs, but I can't spend my energy on worrying about something that may or may not happen.

That's not to say I just spend money like crazy! I think we're pretty good about managing our spending and we try to get by with what we have. We look at our expenses every couple months and see where we can cut back or get a better deal. I also know that we have an emergency cushion which I would hate to spend, but it could pay our basic living expenses for several months.

I think you need to schedule a time to have a look at your finances. Try to keep DH focused on the reality, not the "new job" dreaming (my DH does the same thing - I tell him "yes, look for a new job if you want that's a good long term plan, but first I want to talk about the money we have right now and make a short term plan").

If you really are going to be short on money to pay taxes  then you need to know for sure and DH needs to know that. Dealing with reality is always better than fearing the unknown - and it sounds like the true state of your finances is unknown to both you and DH.

Asquared

you are saving a ton of money without driving to work everyday and by not paying for daycare- it may be tight for a bit, but you'll be able to work it out. 

 

n&bcarlson

Well, I was laid off about a year and a half ago, and that was when the freaking out happened.  My DH had the response of wanting to get a better job, so he did.  It actually worked out well.  It was something he had wanted to do, and me losing my job gave him the incentive to make the change.  I did go back to work as a temp/contract worker while I was pregnant, and that was great for added income for as long as it lasted.  I used a temp agency to find the job.  Now, we've done a pretty detailed budget and know what we can spend so I try not to worry too much.  My biggest concern is what happens if something goes wrong with DH's job.  I don't look at our 401k because experience has taught me that the markets will go up and down a dozen more times before we get close to retirement, so that's one less worry.  For what it's worth, we figured out that the money we save on gas, daycare, formula, and diapers (we use cloth diapers and I BF) would have pretty much been my paycheck.

manic mama

Thanks for the support ladies! We have been cutting back, going out to lunch, dinner and generally staying in. We have the heat on a timer and I should think about the money we're saving with daycare and gas, etc. The daycare is a huge thing because we don't have family to depend on to care for our baby the way my mom and sister did.

I'll keep checking in here to see ways to pick up some extra cash while my business is struggling.