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

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[quote=Anonymous][quote]“My kids have special needs and losing their spots is simply not an option. [b]I’m not able to interview or apply for jobs while caring for them[/b], 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.”[/quote]

NP.  This is what I don't understand.  OP has kids with complex childcare.  Why can't she look for jobs or work jobs while the kids are in/at childcare?

About 10 years ago, I was on a federal contract and was pink-slipped.  I got some small unemployment insurance, but it was much less than my day job. Like OP, we had a very good daycare option for my children and we were not willing to let the spots go (I have twins) because if/when I was reemployed, we would never get childcare options that would suit our specific needs and our children better.

So, we sucked it up.  All told, I was out of work for six months.  We canceled expenses we could, like the monthly house cleaners; I took over household chores.  I shopped and we exclusively ate home cooked meals for those 6 months.  It saved us a lot of money.  But even with cleaning the house and cooking all our meals, I still had time to job hunt and do some part-time work to add to the UI that I collected. We had 6 months of emergency funds, but with the money I saved by cooking at home and the extra money from the UI and PT, we only used about half of our emergency fund over the 6 months until I found a FT position again.

Now that my children are grown, I have no regrets keeping the expensive childcare and not giving up those spots. My children used those spots for 2 more years after I got my job back and we would never have found childcare that worked as well as that one did for us at the time.

But I don't see why OP cannot find part-time work while her children are in childcare.  She says she can't interview or hunt for work while caring for her children.  But what about while the children are in the complex childcare that she won't give up?  While they are in childcare, she should be able to hunt for work or at least work part-time.  Even if it doesn't completely cover the $20k that she needs, every dollar is that much less that she needs to cover.

And OP says that she needs cash for mortgage and childcare.  Well, they still have her husband's job.  She needs to make the difference between what he makes and what will cover the mortgage, childcare and minimum payments on the CC.  Everything else, like food, can go on credit cards.  I can pay phone, utilities, and pretty much everything else on CC.[/quote]

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