Can I afford to take 6 months off?
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Anonymous
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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? |
Anonymous
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no way I would give up an 80k job with any debt unless I had a rock solid business plan, or mega savings or investments to fall back upon. Suze Orman would say no.
that said, i get it. i really do. |
Anonymous
| what is your job that it's so easy to get a new job? |
Anonymous
| Are you missing a 0 or two in your savings amount? |
Anonymous
+1 or possibly two zeros? |
Anonymous
| Um NO!!!!!!! |
Anonymous
I wish! If I did I wouldn't have to post here for advice though! 
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Anonymous
| You have very little in savings and a mortgage, car, insurance, utilities, food and other expenses and already have credit card debt. How do you plan to pay the bills if you are living month to month now? |
Anonymous
| No way. You have no cushion and not even enough to make the bills for three months, let alone six. |
Anonymous
| How are you going to pay 6 months of mortgage with 3,000 in savings? I'm bad at math, but I don't see how this is going to work. |
Anonymous
What if I sell my house?
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Anonymous
| You must be a white female and fairly attractive. |
Anonymous
| What???? You only have 3000 in savings. Wtf? No you cannot afford it ! |
Anonymous
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You are cuh-razy. No way.
How much equity do you have in your house? And that is an awful plan too, and the last thing you want to be doing is trying to find a rental while unemployed. |
Anonymous
| Whoa, whoa whoa. Not a good idea with only $3,000 in savings. What is your plan for how to pay the bills?! You said get another job, but... |