How long could YOU go without a paycheck?

[Anonymous]

A month or so before hitting the credit cards. There is only one income and my ex pays child support "when he can" which is very rarely. I can't count on it. PSA- Don't become a teacher.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I would cancel all activities and memberships immediately and I think we'd be fine, we'd just be living a spartan existence, no enrichment activities for the kids, keeping utilities low, etc. Seems like plenty of people I know with a SAHP already live like that. I'm a solo parent. I'll never be rich but I think I do well enough by my kids and have good backup planning.

A lot of people choose not to do activiites. Nothing to do with SAHP. The only difference between a single and SAH with spouse is child care expenses when kid are young.

Which is a huge expense for many people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would cancel all activities and memberships immediately and I think we'd be fine, we'd just be living a spartan existence, no enrichment activities for the kids, keeping utilities low, etc. Seems like plenty of people I know with a SAHP already live like that. I'm a solo parent. I'll never be rich but I think I do well enough by my kids and have good backup planning.

A lot of people choose not to do activiites. Nothing to do with SAHP. The only difference between a single and SAH with spouse is child care expenses when kid are young.

Which is a huge expense for many people.

Right, it can easily match or exceed someone's mortgage/rent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would cancel all activities and memberships immediately and I think we'd be fine, we'd just be living a spartan existence, no enrichment activities for the kids, keeping utilities low, etc. Seems like plenty of people I know with a SAHP already live like that. I'm a solo parent. I'll never be rich but I think I do well enough by my kids and have good backup planning.

A lot of people choose not to do activiites. Nothing to do with SAHP. The only difference between a single and SAH with spouse is child care expenses when kid are young.

Which is a huge expense for many people.

Right, it can easily match or exceed someone's mortgage/rent.

At one point my childcare expenses were double my monthly mortgage.

[Anonymous]

I could go a year. I have $22k in savings, and one year lived on $19k, so I am confident I could do it on $3k more.

[Anonymous]

Forever. We are worth 2.5 million and could sell the house if needed.

[Anonymous]

We’re in our 50s, have saved for our retirements, and could quit tomorrow if needed. But we aren’t Feds, and it’s disgraceful that a piece of rotten garbage like Donald Trump is creating so much anxiety and stress for so many, including our civil servants. I hate his entire, corrupt family.

[Anonymous]

Wait, do you mean before touching a Credit card or HELOC? Dipping into savings? What do you mean?

[Anonymous]

Years

[Anonymous]

we're a non-furloughed fed and a private sector employee. early 40s
We have about $100K cash in our checking account (stupid, i know) and our only really fixed expense are mortgage payments of $60K a year (2 houses) and utilities of under $10K.
So i'd say we could go a year without going beyond our cash savings.

[Anonymous]

Actually....about a year at current spending levels and obligations. Plan ahead people!!!?

[Anonymous]

Anonymous wrote:we're a non-furloughed fed and a private sector employee. early 40s
We have about $100K cash in our checking account (stupid, i know) and our only really fixed expense are mortgage payments of $60K a year (2 houses) and utilities of under $10K.
So i'd say we could go a year without going beyond our cash savings.

Why is that stupid? Sounds like a nice cushion to me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:we're a non-furloughed fed and a private sector employee. early 40s
We have about $100K cash in our checking account (stupid, i know) and our only really fixed expense are mortgage payments of $60K a year (2 houses) and utilities of under $10K.
So i'd say we could go a year without going beyond our cash savings.

Why is that stupid? Sounds like a nice cushion to me.

Well it could be making more money in interest alone in a savings account, or an investment account, that's why.

[Anonymous]

We just drained savings to buy a home and do some maintenance on it. So we can miss one paycheck and that is it.
It stresses me out. We like to have 3 months savings in cash at all times.

[Anonymous]

two months without touching savings. 14 months with savings.