Can I afford to take 6 months off?

[Anonymous]

You have too much debt to take a break. Pay that off first.

[Anonymous]

Not if you want to sleep at night...

[Anonymous]

NO NO NO.
Assuming your figures are correct... You have $17,000 of debt, plus your mortgage and hardly 2 months of savings to cover your expenses... how are you going to cover the other 4 months? Take out more debt?? Bad bad plan...

[Anonymous]

You guys are suckers, pretty sure this thread is a joke.

[Anonymous]

Not a joke. Ok, six months is out... Maybe in April. Or maybe not at all.... I have $200,000+ in equity

[Anonymous]

Anonymous wrote:Not a joke. Ok, six months is out... Maybe in April. Or maybe not at all.... I have $200,000+ in equity

No, sorry not at all.

How old are you? 40s? I didn't see anything listed for retirement. Are you planning to retire or work until you're incapacitated?

[Anonymous]

At most I would take the summer off. Not having to pay for childcare during summer vacation will mean you will probably still break even.

[Anonymous]

Anonymous wrote:
Credit card debt is about $6000
Home eq loan is $11,000

While on my break I could try to start my other business ideas.

Before you quit think about:

1. Paying down the debt you mentioned
2. Taking advantage of your local SBA office for free advice on starting a business https://www.sba.gov

[Anonymous]

What is your field that it is so easy to find work?

[Anonymous]

Anonymous wrote:Single parent, one child in public school. In my field I can easily get another job. I'm considering taking a hiatus for the rest of the year or resigning in the spring and starting work again in the fall. The why is not really relevant but I'm wondering if I can manage financially.

I have about $3000 in savings
Mortgage is $1200
Utilities approx.$200
Cell, cable, Internet $150
Car $250
Life insurance $30
Credit card debt is about $6000
Home eq loan is $11,000
No student loans


I could earn money intermittently through tutoring or subbing or dog walking, I needed. Maybe get a part time job at the gym.
I just need a break! Job is fine and pays about $80,000. If I resign and get another job I could make that but I might not.

While on my break I could try to start my other business ideas.

Think it's worth a shot?

Not at all.

[Anonymous]

Anonymous wrote:Not a joke. Ok, six months is out... Maybe in April. Or maybe not at all.... I have $200,000+ in equity

$200k in equity? Do you think this is cash? First you need a HELOC in order to actually access it. Then you'll have to pay it back. How do you plan to do that?

[Anonymous]

Call Suzy Orman but I bet she'd tell you H$ll NO, too!

[Anonymous]

Anonymous wrote:Call Suzy Orman but I bet she'd tell you H$ll NO, too!

+1. I watch the show for entertainment value and her voice kept saying "DENIED. You are so DENIED it's not even funny, girlfriend!" in my head.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Are you missing a 0 or two in your savings amount?

+1 or possibly two zeros?

+2 I sympathize, but you have no money along with equity-line and credit card debt. I'm not comfortable with you abandoning your job until you have $500K or so in savings.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Are you missing a 0 or two in your savings amount?

+1 or possibly two zeros?

+2 I sympathize, but you have no money along with equity-line and credit card debt. I'm not comfortable with you abandoning your job until you have $500K or so in savings.

$500k? So never then. Great.