Can I afford to take 6 months off?
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Anonymous
| NO WAY!! |
Anonymous
define "poor" - do you have any? are you still considering taking time off from the job or has this thread convinced you not to? |
Anonymous
|
No way!!
You make have 80k, have a pretty low mortgage payment for around here, but you have managed to save very little and you even have credit card debt. You are not in a place where you can do this, at all. DH makes 68k, I'm not working right now and we have 2 kids yet we are in much, much better shape than you. If you are real, and you really are that sick of your job, then what makes you think the next one, if you get one, will be any better? What will this six months really accomplish? If you are really sick of being on the treadmill, I don't blame you. However, you have to be willing to make some MAJOR changes in your life if you want to get out. It's possible for you to sell your house and your car and take all that equity and plug it into a much cheaper house in another part of the country that you would be able to afford mortgage free. You might be able to downsize your car or get rid of a car completely. You don't really need 80k to live on, especially if you own your home outright. It is possible to live much more cheaply than you do, but it doesn't look like you are willing or able to do it. Challenge yourself to live very frugally for a while... like Mr. Money Mustache frugal. After a year, see how you've done. Then decide if you want to pick up and leave. |
Anonymous
...and everything I own??? |
Anonymous
But..... why? |
Anonymous
then where will you live? not sure I understand the plan! |
Anonymous
| Are you really young OP ? The way you are trying to make huge life changes on 3k is just amazing. And with a child? |
Anonymous
| Op has got to be under 30 |
Anonymous
|
How will you pay the mortgage?
None of us want to work, it's just something you do. Do it for your kid. |
Anonymous
|
OP, I don't think you would need to save the huge amounts that the PPs are suggesting, (no, you wouldn'tneed 500k to take some time off) but -- you simply don't have enough. You owe on credit cards and a heloc, and you have a very very small savings account. You will be one trip to the ER away from bankruptcy and losing your house. Seriously. Things happen just that fast.
You need more of a cushion. Pay off your debts and save 6 months worth of expenses first. If you make $80k and have barely any savings yet, you need to take a hard look at your budgeting. |
Anonymous
Oh good lord, some of you are SO gullible. |
Anonymous
such a good answer. |
Anonymous
| OP, perhaps you should look into changing jobs or careers if it isn't working out, but taking a break from work is not an option. |
Anonymous
| How about a one-week staycation instead? I understand needing a break but you don't have financial breathing room. |