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UNEMPLOYED IV! Time To Breath In And Tighten Our Belts

No Job, No Money, Now What?

My wife has been ‘let go’ from her job for the fourth time in 3 1/2 years, this time because the company she worked for is downsizing, selling off a bunch of their properties. It was only a part-time job, which brought in about $650-700/month, but money was already tight after launching a photography business, so this sudden decrease in income puts us in dire straits, I could really use some ‘money for nothing’.

Unlike previous job losses, we are not drowning in a mountain of debt, thanks to the funds I received from my fathers estate, but there are some debts that we really cannot afford with this job loss, one is a car loan, luckily it is a small loan, less than $140/month and a Best Buy credit card, which has a required $125/month payment to avoid 29.9% interest charges when the promotional interest free period ends.

I’m really angry with myself, as, at the time of purchase, we had the cash to buy the wife’s new (used) car and washer and dryer outright. But I let my wife talk me into putting these items on credit instead of using cash from savings, which is now gone. We have zero savings just 4 months after these purchases, and I am at a loss to where the majority of the money went, other than paying off new credit card balances.

The net result as the title suggests I have immediately canceled anything that is not essential, like the Playstation VUE streaming TV service, Spotify, WWE Network, StreamVia VPN, and Audible subscription (my wife is not going to be happy with me), leaving us with Netflix and Hulu Plus. In truth, we can’t really afford that either, but we can’t just sit in this house in silence with two kids to keep entertained.

There are some business expenses, like our website, Email, Adobe photography suite and insurance that we need to keep. At least we own our camera gear, I insisted that we pay for this in cash, I don’t want to be facing repossession of our camera equipment, that would be disastrous, it’s hard to run a photography business without camera gear. After nine months, we need the business to start paying back our close to $15,000 investment, selling everything and giving up on the business is a real possibility.

I could ramble on for paragraphs about this, but I will leave it here. Suffice to say, one of two things need to happen, my wife needs to find new employment or business significantly picks up on the photography front. My income alone is below what is needed to support my family, I can keep a roof over our head and the lights on, but not feed and clothe all four of us, much to the detriment of my mental state.

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