Anonymous wrote:OP here. We own our home in a wonderful community with a very reasonable mortgage (affordable because of the v poor reputation of our school district). One of our concerns is that the current school district will not be able to provide reasonable services for our child. Do we try to sell our home and move to a more expensive district for our child and where should we go? We can afford 750k but don't feel comfortable going above that. One of us commutes to downtown most days so far out suburbs are not an option we'd consider - especially given the number of appointments our kid has, all close in to DC.
Anonymous wrote:OP, you’re not alone. The long-term financial realities of caring for a special-needs child are daunting. Without knowing your details, hard to provide specific advice. The money stresses on a single parent are, obviously, way more acute than on a two-parent household. A stable job with health insurance and paid vacation is frankly, a must. (Bonus points for understanding colleagues!) I’m the budgeter/investment banker for our middle-income household. Here’s a few things we have done/are trying to do in order to manage:
- bought a 1200-ft house in Montgomery County ($500K), just off Sligo Creek near Holy Cross Hospital) with immediate access to parks, bike paths, and other free outdoor spaces
- maintain one modest car that we bought used 5 years ago
- ride public transit to work as much as possible
- work at home as much as bosses allow to keep transportation costs as low as possible
- grocery shop at Aldi and Costco
- cook at home, pack coffee and lunches for work
- cut hair at home
- recreate and socialize at parks, libraries, friends’ houses, our own backyard
- broadcast to neighbors and friends that we LOVE hand-me-down clothes, toys
- make use of our Facebook Buy Nothing Group for clothes, toys, household goods
- maximize all services available to our child via health insurance (ST, OT etc.)
- maximize all services available to our child through Montgomery County Public Schools (includes daily busing to special-ed class, ST, OT)
- seek out cheap/free activities and supports via relevant nonprofits (in our case, XMinds)
- listen to tons of free podcasts specific to child’s disability so I can continue to try and be the best parent possible
- “vacation” to the homes of supportive family and friends
- save slowly but steadily into emergency fund + retirement account
- try to DIY home and car repairs using YouTube (within reason!)
Things we do not do:
- buy clothes or toys new/retail
- buy new cell phones or other electronics
- eat in restaurants
- vacation to hotels or resorts
- hire babysitters, cleaners, gardeners
- pay to go to movies, concerts, shows
- try to keep up with wealthier friends
This stuff is hard. I stress money all the time. The setbacks are like one bite of humble pie after another. My life is not Instagram-able. And I can’t take my kids to Disneyworld. But we are housed, clothed, fed, and together, and we do have a bit of a financial floor underneath for when the poop hits the fan, as it inevitably will.
Best of luck to you.