Do you live paycheck to paycheck?

[Anonymous]

Anonymous wrote:In the sense that we cannot pay our bills? No. We have about 6-8 months savings. However due to the high cost of daycare for two, we are temporarily spending about what we earn and not increasing our savings. One of us is definitely unpaid (civil service) and one of us wiil be working at least PT (federal contractor) so we will definitely be dipping into the emergency fund for the shutdown. HHI of $200K.

So, not in any sense.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not trying to be rude, but do these children HAVE a father(s)? Or did you become a single mom by choice?

Good on you for being able to afford 2 kids with no assistance.

What are you paying daycare?

I'm a single mom earning 70k. Before my DD was in elementary school, I worked from home and earned about 30k as a graphic designer. One horrible year during the recession it was 20k. One good year was 40k. She does not have a father and I am not a single mother by choice. He became abusive after i got pregnant, and then dumped me when i was 37 & 1/2 weeks pregnant. I called him when she was born, he never came to visit, and we haven't talked since. She's 10.

Aren't you entitled to child support?

I didn't name him on the birth certificate. I would rather raise her on my own than have to have him in our lives in order to get his money. He almost killed me several times. It's not worth his money.

In this situation, I agree with you. Is he named on the first daughter's birth certificate? You said you had 2. Or are you NOT OP? If so, I'm confused.

There are several single moms who have chimed in on the thread. PP and OP are different.

[Anonymous]

Glad we got paid this past Friday. My mortgage is paid for the month of October.

[Anonymous]

Anonymous wrote:Glad we got paid this past Friday. My mortgage is paid for the month of October.

I like you

Glass hald full vs. half empty.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm not trying to be rude, but do these children HAVE a father(s)? Or did you become a single mom by choice?

Good on you for being able to afford 2 kids with no assistance.

What are you paying daycare?

I'm a single mom earning 70k. Before my DD was in elementary school, I worked from home and earned about 30k as a graphic designer. One horrible year during the recession it was 20k. One good year was 40k. She does not have a father and I am not a single mother by choice. He became abusive after i got pregnant, and then dumped me when i was 37 & 1/2 weeks pregnant. I called him when she was born, he never came to visit, and we haven't talked since. She's 10.

Aren't you entitled to child support?

I didn't name him on the birth certificate. I would rather raise her on my own than have to have him in our lives in order to get his money. He almost killed me several times. It's not worth his money.

In this situation, I agree with you. Is he named on the first daughter's birth certificate? You said you had 2. Or are you NOT OP? If so, I'm confused.

Sorry if I added to the confusion. I am NOT the OP. I am a different single mom; one who only has one child.

[Anonymous]

Anonymous wrote:

Sorry if I added to the confusion. I am NOT the OP. I am a different single mom; one who only has one child.

No worries. I realized my error after I posted back. The quotes and what not threw me off. I am so glad you escaped such a horrible person and I wouldn't look back, either. Stay strong!

[Anonymous]

Anonymous wrote:Yes or no?

In light of the recent shutdown it seems that some people are scrambling trying to figure out how to pay the monthly bills.

Do you feel adequately prepared in the event that you might suddenly lose your income or do you live paycheck to paycheck?

I'll start...

I'm a single mom of 2 under 2 (toddler and infant). My gross is about $67K per year. No, I do not live paycheck to paycheck.

Family of four, one paycheck, we do not live paycheck to paycheck. We could last for 6- 12 months before we would have to move less liquid things around. Our HHI is less than the average for our zip code. Even before we met, DH and I each had separate emergency funds saved. Even when I was earning less than $10 per hour. We are both children of children of the depression and we are both naturally frugal.

[Anonymous]

We don't live paycheck to paycheck by any means, but we had a big expense earlier this year (HVAC system replacement) that we hadn't planned on and our savings took a good dip to replace that. We can weather the shutdown but it will hurt to have savings drop further if it lasts a long time.

[Anonymous]

Times like these are why it's so important to have an emergency fund.

[Anonymous]

Anonymous wrote:We lived paycheck to paycheck when we had kids because well, kids are expensive. We don't anymore.

I'm sorry for your loss.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just read your update, what about extra cuticular activities? Car repairs? Savings?

With two DCs under there are no extra curricular activities. All the time and attention is given to the little ones. Usually free ones like parks, national malls, walking trails etc.

Gotta love Japanese cars.

I've got a 10 year old Japanese car and knocked on wood have not had to make any major repairs in 10 years.

Savings is currently at $17K but have not been able to significantly add to it because I've been focusing on putting money away for DC's college funds.

Hi OP, I think you're doing great. Just one suggestion-- fund your own retirement before the 529s. As they say, you can get a loan for education but not for retirement. You can put the $ in a Roth which you can use either for yourself later (house down payment, retirement, whatever) OR education expenses. More flexible. The 529 is good if you itemize your taxes, and it there's a state tax deduction in VA, but as a renter I assume you don't.

[Anonymous]

Mmm. I don't know. My group at a local federal contractor got laid off a few months ago due to the sequester. I guess I'm living paycheck to paycheck but it looks like the paychecks are going to be few and far between!

[Anonymous]

No. I have a 6-month cash cushion.

[Anonymous]

4 mon cash cushion here too. Still nervous! Would be horrible to go through it.

[Anonymous]

No, between liquid savings and passive income streams I could last about a year without a paycheck. I would cut expenses significantly if I thought it would actually be that long - no cable, eating out, cheap cell phone etc.