I need about $20k to get us through a layoff-home equity loan?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:No expenses you can cut? Family to borrow from?

It sounds like you are going to have to see if you can get a loan from your bank or credit union, HELOC, or rack up some credit card debt.

Op here. We already cut way back, sold a car, etc. No family to borrow from.

My question is the best way to cover these costs, a personal loan? HELOC? Credit card debt is an option (can get a 0% card), but we can’t pay our mortgage or childcare with a credit card.

You only pay mortgage. You skip out on childcare without notice and lose your spot. You do NOT take out a high interest loan to save face/avoid losing childcare. If you haven’t paid for October, DON’T.

Op here. My kids have special needs and losing their spots is simply not an option. I’m not able to interview or apply for jobs while caring for them, and there’s zero chance we’d secure childcare for them in January when I start working again if we don’t keep their spots now.

Look, I’m not really looking for a comprehensive review of my entire life and finances and choices. The situation is what it is. My question is rather specific-what financial vehicles make the most sense for getting us $20-30k to survive between now and January?

My DH mAkes $120k, we have a ton of home equity and good credit. No debt besides mortgage. I’m sure there has to be a way to do this.

Sell your house as soon as possible and find a rental you can afford. Will be cheaper than your current situation, which is house poor. That will free up the equity and relieve alot of pressure from your budget.

Painful but honestly the best solution right now. You can always find another house to live in later when you can better afford it. And be sure to get one that you can afford on just one salary (of whoever makes the least).

[Anonymous]

If you have the body for it, a gig at a strip club could help you out alot OP. Just wear a wig and no one will recognize you.

[Anonymous]

Anonymous wrote:Op here. This thread has really gone off the rails a bit.

I’d prefer not to get into all the details of my finances, because I wasn’t looking for a comprehensive review. I had a specific question I got it answered, and I greatly appreciate the replies.

One thing we did that has helped tremendously-I had forgotten about our childcare FSA and healthcare FSA (I might be using the wrong words for these). We never reimburse in real time and usually do it in Jan/feb/March when we turn to taxes. So I’ve already come up with $7600 I didn’t know we had.

The job in January is as certain as any job can be. Signed contract, definite start date. But I’m hoping to land something better and hence all the interviews. I’ve got a good shot of landing something better and might be able to start earlier than January.

I think we will scrape by and be Ok. I’ve been able to sell $1000 worth of stuff in the last week as well.

Thanks again for the helpful replies.

Wait, so you haven't even started the job yet and you're already looking to screw them over? You know they stopped interviewing and rejected the other candidates when they offered you the position, right?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Y'all are so off topic. OP's kids are small and don't have mental health issues. She was just living to the max and it bit her in the a$$.

My child was diagnosed with a mental health condition when she was 2.5 yo. We've spent thousands on therapy for that condition.

Also to add, none of the therapists that treat that condition are in-network for any insurance.

So you use your health insurance, and the following year you budget for it. No one is saying medical costs are not obnoxious, but they’re hardly surprising. That’s literally the point of health insurance - to limit surprises and allow you to budget. You are bad with money if your kids’ multi-year health condition frequently made you broke.

You have no clue about how people live. Privileged much? We should easily be able to cash flow $30,000 or more in non reimbursed medical expenses?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:To all the people suggesting side gigs — how much are you thinking OP will clear with these gigs? Not a lot. She needs $20k. Earning $1k per month isn’t going to make much of a dent in that.

$1k per month can cover food and utilities.

Sell stuff to come up with daycare payments for at least a month or two.

Didn't they already sell the second car? When folks recommend to sell stuff I wonder what they have lying around the house that will bring in anything worthwhile.

Jewelry (yes, even inherited things.)
Designer bags, sometimes designer shoes/clothes
Recreation equipment like bikes, 4 wheelers, boats (even simple boats like kayaks.)

You'd be surprised how many people "can't afford" basics but are literally sitting on tens of thousands (or more!) in luxury items that have actual resale value.

It's also wise to be downsizing clutter in case they end up needing to move. So win/win all around.

[Anonymous]

OP, will you at least humor us by telling how much you made when you bought the house, and how much you expect in your next job?

[Anonymous]

Can your husband take out a 401K loan? That way you are paying interest to yourself. if not that, try to really scrimp (start buying/cooking dried beans etc), and if needed get a new credit card with no interest for the first few months.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Y'all are so off topic. OP's kids are small and don't have mental health issues. She was just living to the max and it bit her in the a$$.

My child was diagnosed with a mental health condition when she was 2.5 yo. We've spent thousands on therapy for that condition.

Also to add, none of the therapists that treat that condition are in-network for any insurance.

So you use your health insurance, and the following year you budget for it. No one is saying medical costs are not obnoxious, but they’re hardly surprising. That’s literally the point of health insurance - to limit surprises and allow you to budget. You are bad with money if your kids’ multi-year health condition frequently made you broke.

You have no clue about how people live. Privileged much? We should easily be able to cash flow $30,000 or more in non reimbursed medical expenses?

When you live n a 1.5 million dollar house, yes.

[Anonymous]

Anonymous wrote:If you have the body for it, a gig at a strip club could help you out alot OP. Just wear a wig and no one will recognize you.

Op here. Honestly I considered it (well not a strip club but selling feet pics or something?) but I’m definitely not hot enough, unfortunately.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Y'all are so off topic. OP's kids are small and don't have mental health issues. She was just living to the max and it bit her in the a$$.

My child was diagnosed with a mental health condition when she was 2.5 yo. We've spent thousands on therapy for that condition.

Also to add, none of the therapists that treat that condition are in-network for any insurance.

So you use your health insurance, and the following year you budget for it. No one is saying medical costs are not obnoxious, but they’re hardly surprising. That’s literally the point of health insurance - to limit surprises and allow you to budget. You are bad with money if your kids’ multi-year health condition frequently made you broke.

You have no clue about how people live. Privileged much? We should easily be able to cash flow $30,000 or more in non reimbursed medical expenses?

Uhhh yes. That’s *literally* the point of the legislation mandating that your health insurance tell you what your OOP max is both in and out of network. I lost my job and couldn’t find one for a year, I still managed to budget for all medical expenses including a hospital emergency bill where I literally coded. So privileged!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here. This thread has really gone off the rails a bit.

I’d prefer not to get into all the details of my finances, because I wasn’t looking for a comprehensive review. I had a specific question I got it answered, and I greatly appreciate the replies.

One thing we did that has helped tremendously-I had forgotten about our childcare FSA and healthcare FSA (I might be using the wrong words for these). We never reimburse in real time and usually do it in Jan/feb/March when we turn to taxes. So I’ve already come up with $7600 I didn’t know we had.

The job in January is as certain as any job can be. Signed contract, definite start date. But I’m hoping to land something better and hence all the interviews. I’ve got a good shot of landing something better and might be able to start earlier than January.

I think we will scrape by and be Ok. I’ve been able to sell $1000 worth of stuff in the last week as well.

Thanks again for the helpful replies.

Wait, so you haven't even started the job yet and you're already looking to screw them over? You know they stopped interviewing and rejected the other candidates when they offered you the position, right?

NP. Since when does one owe loyalty to their employer? She is smart to keep interviewing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op here. This thread has really gone off the rails a bit.

I’d prefer not to get into all the details of my finances, because I wasn’t looking for a comprehensive review. I had a specific question I got it answered, and I greatly appreciate the replies.

One thing we did that has helped tremendously-I had forgotten about our childcare FSA and healthcare FSA (I might be using the wrong words for these). We never reimburse in real time and usually do it in Jan/feb/March when we turn to taxes. So I’ve already come up with $7600 I didn’t know we had.

The job in January is as certain as any job can be. Signed contract, definite start date. But I’m hoping to land something better and hence all the interviews. I’ve got a good shot of landing something better and might be able to start earlier than January.

I think we will scrape by and be Ok. I’ve been able to sell $1000 worth of stuff in the last week as well.

Thanks again for the helpful replies.

Wait, so you haven't even started the job yet and you're already looking to screw them over? You know they stopped interviewing and rejected the other candidates when they offered you the position, right?

NP. Since when does one owe loyalty to their employer? She is smart to keep interviewing.

What kind of job offers 6 months before start date? Is there clearance needed? That would be a D move if you have them do clearance and then quit before starting

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op here. This thread has really gone off the rails a bit.

I’d prefer not to get into all the details of my finances, because I wasn’t looking for a comprehensive review. I had a specific question I got it answered, and I greatly appreciate the replies.

One thing we did that has helped tremendously-I had forgotten about our childcare FSA and healthcare FSA (I might be using the wrong words for these). We never reimburse in real time and usually do it in Jan/feb/March when we turn to taxes. So I’ve already come up with $7600 I didn’t know we had.

The job in January is as certain as any job can be. Signed contract, definite start date. But I’m hoping to land something better and hence all the interviews. I’ve got a good shot of landing something better and might be able to start earlier than January.

I think we will scrape by and be Ok. I’ve been able to sell $1000 worth of stuff in the last week as well.

Thanks again for the helpful replies.

Wait, so you haven't even started the job yet and you're already looking to screw them over? You know they stopped interviewing and rejected the other candidates when they offered you the position, right?

NP. Since when does one owe loyalty to their employer? She is smart to keep interviewing.

What kind of job offers 6 months before start date? Is there clearance needed? That would be a D move if you have them do clearance and then quit before starting

It’s 3 months until January. You’re literally a person who can’t count till 3, lol!

[Anonymous]

I haven’t been following this thread.

Why would op need 20k immediately.

If you’re going to pull it from a heloc (IF you can even get one), don’t pull it out at the beginning. Then the entire balance is bearing interest.

You’d pull out enough for 2-4 weeks. Then gradually more, later.

But don’t do it.

I still don’t think you need that much, but like I said i didn’t read everything. Don’t have time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Op here. This thread has really gone off the rails a bit.

I’d prefer not to get into all the details of my finances, because I wasn’t looking for a comprehensive review. I had a specific question I got it answered, and I greatly appreciate the replies.

One thing we did that has helped tremendously-I had forgotten about our childcare FSA and healthcare FSA (I might be using the wrong words for these). We never reimburse in real time and usually do it in Jan/feb/March when we turn to taxes. So I’ve already come up with $7600 I didn’t know we had.

The job in January is as certain as any job can be. Signed contract, definite start date. But I’m hoping to land something better and hence all the interviews. I’ve got a good shot of landing something better and might be able to start earlier than January.

I think we will scrape by and be Ok. I’ve been able to sell $1000 worth of stuff in the last week as well.

Thanks again for the helpful replies.

New poster - cheering you on and glad to hear you’re doing ok!

+1