Anonymous
10/10/2023 22:07
Subject: I need about $20k to get us through a layoff-home equity loan?
You have got to be able to work a seasonal job during this period. You have childcare apparently, so you have no job and the time before the new one begins. Non-working spouse (at this point I can’t remember if it’s you or your spouse) should be able to pick up a job somewhere. My friend did UPS and seasonal kohls. I’ve done door dash and Uber eats.*
You turned down door dash above bc you are a one car family. But you don’t have to do it all day—in fact it’s tedious and hard to do for more than 3-4 hours without a break. Do it on weekends if you need to. 4 hours here and there might pay for your childcare while out of work.
You turned down door dash above bc you are a one car family. But you don’t have to do it all day—in fact it’s tedious and hard to do for more than 3-4 hours without a break. Do it on weekends if you need to. 4 hours here and there might pay for your childcare while out of work.
Anonymous
10/10/2023 21:50
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter though. If your kid is 4 and will start public kindergarten next year vs a 2 year old.
You are willing to share what your husband does for a living and how much he earns but not how old your kids are. This actually matters the most because you only have these childcare costs for a few years and if we knew the ages, we would know how long these costs would go for. You also seem unwilling to share the actual cost of childcare.
You are willing to go into debt in a high interest rate environment for this childcare. I cannot imagine putting childcare costs on a credit card. I can’t think of a worse financial decision.
Do you know how hard it is to find full time childcare? It’s basically impossible. When you get a spot, you hold onto it for dear life.
Op never said she needs full time childcare. She’s being very intentionally cryptic about her exact childcare needs.
You’re correct, I don’t think she said FT. But she did say this back on page 3:
“My kids have special needs and losing their spots is simply not an option. I’m not able to interview or apply for jobs while caring for them, 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.”
I think the point still remains - reliable childcare that works for your kids (SN, full time, whatever) is sooooo hard to find. I wouldn’t give it up in her shoes.
Anonymous
10/10/2023 20:55
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter though. If your kid is 4 and will start public kindergarten next year vs a 2 year old.
You are willing to share what your husband does for a living and how much he earns but not how old your kids are. This actually matters the most because you only have these childcare costs for a few years and if we knew the ages, we would know how long these costs would go for. You also seem unwilling to share the actual cost of childcare.
You are willing to go into debt in a high interest rate environment for this childcare. I cannot imagine putting childcare costs on a credit card. I can’t think of a worse financial decision.
Do you know how hard it is to find full time childcare? It’s basically impossible. When you get a spot, you hold onto it for dear life.
Op never said she needs full time childcare. She’s being very intentionally cryptic about her exact childcare needs.
Anonymous
10/10/2023 20:45
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter though. If your kid is 4 and will start public kindergarten next year vs a 2 year old.
You are willing to share what your husband does for a living and how much he earns but not how old your kids are. This actually matters the most because you only have these childcare costs for a few years and if we knew the ages, we would know how long these costs would go for. You also seem unwilling to share the actual cost of childcare.
You are willing to go into debt in a high interest rate environment for this childcare. I cannot imagine putting childcare costs on a credit card. I can’t think of a worse financial decision.
Do you know how hard it is to find full time childcare? It’s basically impossible. When you get a spot, you hold onto it for dear life.
Anonymous
10/10/2023 20:34
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter though. If your kid is 4 and will start public kindergarten next year vs a 2 year old.
You are willing to share what your husband does for a living and how much he earns but not how old your kids are. This actually matters the most because you only have these childcare costs for a few years and if we knew the ages, we would know how long these costs would go for. You also seem unwilling to share the actual cost of childcare.
You are willing to go into debt in a high interest rate environment for this childcare. I cannot imagine putting childcare costs on a credit card. I can’t think of a worse financial decision.
DP this statement is dramatic and ridiculous. Far worse financial decisions can be made. Stop being absurd.
OP has no obligation to share her children's ages with you. She made clear what advice she is looking for and some posters have offered useful responses.
Anonymous
10/10/2023 18:50
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter though. If your kid is 4 and will start public kindergarten next year vs a 2 year old.
You are willing to share what your husband does for a living and how much he earns but not how old your kids are. This actually matters the most because you only have these childcare costs for a few years and if we knew the ages, we would know how long these costs would go for. You also seem unwilling to share the actual cost of childcare.
You are willing to go into debt in a high interest rate environment for this childcare. I cannot imagine putting childcare costs on a credit card. I can’t think of a worse financial decision.
Anonymous
10/10/2023 18:32
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
It does matter.
How old are your kids?
Anonymous
10/10/2023 17:51
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:You are willing to go into debt at high interest rates to pay for complex childcare???
Op here. We’re talking about 2.5 months. It will be fine. It’s preferable to losing my childcare infrastructure which I cannot just dismantle and rebuild when I need it again in January.
You can get a temp job if the kids are in day care during the day. Anything is better than nothing.
Anonymous
10/10/2023 17:44
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
Lady you’ve got to reassess the childcare. You can’t afford it. You keep refusing to make any changes and you seriously need to do so
I understand not moving since your housing costs won’t even decrease much.
Anonymous
10/10/2023 17:25
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Op here. I’m not saying ages because it doesn’t matter. I’m not asking for advice about my childcare situation. I came here asking for advice about what financial vehicle to use to get cash for short term expenses.
Anonymous
10/10/2023 17:23
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Cash advances are at 4-5% for the fee and 0% for the balance for a year. Then you find another card.
Two grow-up people haven't built enough credit to get that from a card? Any card. That's why you build credit and relationship with banks.
Op here. Do you know how I find these offers? Do they come in the mail? Our credit scores are 800+, we could charge probably $150k today on all our credit cards but what I need is CASH to pay mortgage and childcare costs.
Do your daycares not take credit cards?
Op here. My childcare situation is complex and multifaceted, and no, I can’t use credit cards to pay for it.
OP, several people have asked you; how old are your kids? It seems some people are assuming your kids are infants in full time daycare. From the above, it sounds like your children's care is a nanny?
Why can’t OP say kid’s ages?
It sounds like the DH can cover the mortgage but not childcare. They should be able to go into minimal debt if they cut childcare. It sounds like expensive childcare.
She won't say their ages because they aren't newborns like some people were assuming earlier. Her "small" children are probably 12 or so.
Anonymous
10/10/2023 17:21
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:You are willing to go into debt at high interest rates to pay for complex childcare???
Op here. We’re talking about 2.5 months. It will be fine. It’s preferable to losing my childcare infrastructure which I cannot just dismantle and rebuild when I need it again in January.
How old are your kids?
Anonymous
10/10/2023 16:52
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Anonymous wrote:Could you potentially refinance and cash out? I doubt your monthly would even go down much since interest rates are much higher.
Op here. This would nearly triple my mortgage. I will never refinance or sell my house because of the interest rate. We would move out and rent it before we’d even consider refinancing or selling.
DP. Obviously none of us have a full understanding of your finances, but it sounds like the home purchase occurred before the expensive, complex childcare costs began, right? What is your long term plan for affording both the mortgage and ongoing childcare/medical expenses while saving for emergency, retirement, etc.? I know those low interest rates are hard to give up, but from what little you told us it doesn't sound like you can afford everything.
But as for the quick cash, you've been given multiple suggestions for how to come up with it. There's no pain-free answer, they all have costs.
Anonymous
10/10/2023 16:48
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:You are willing to go into debt at high interest rates to pay for complex childcare???
Op here. We’re talking about 2.5 months. It will be fine. It’s preferable to losing my childcare infrastructure which I cannot just dismantle and rebuild when I need it again in January.
Anonymous
10/10/2023 16:40
Subject: I need about $20k to get us through a layoff-home equity loan?
Anonymous wrote:Could you potentially refinance and cash out? I doubt your monthly would even go down much since interest rates are much higher.
Op here. This would nearly triple my mortgage. I will never refinance or sell my house because of the interest rate. We would move out and rent it before we’d even consider refinancing or selling.