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Old 10-04-2012, 05:29 AM   #72
Heather1583's Avatar
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Join Date: Oct 2009
Location: Pittsburgh
Posts: 385
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Originally Posted by nhochs
I hope you don't mind if I join. We are 4 weeks in to FPU at our church and it has given me so much motivation. I have been following DR on the radio for the last 3 years or so but it's nice to actually get gazelle.

DH and I have some decisions to make after FPU and I'm so on the fence. The last 3 years I have been a SAHM to my 4 girls (16,12,3 and 2). My 3rd dd has a medical condition that needs weekly appointments and she attends a special needs preschool. We have a lot of debt. I mean a lot! We were like 25% of the total debt of our class.
Here it is:
Student Loans 84k
Credit Cards 30k
Mortgage 186k
2nd Mortgage 25k
Medical bills 18k

Gross! My dh makes roughly 84k a year and we live on a strict budget but we aren't making much headway with all of our debt. The student loans are mine and I have a MBA. We need to decide if I should return to work. Looking at the numbers it's a no brainer but my dh and I are having such a hard time with it. The main concern is our dd and putting her in daycare. My initial thought is that I wait 2 years until she begins kindergarten then go back full time. But if I wait I feel like I'm hurting my family financially. I've thought about part time but with paying part time daycare costs it's almost a wash. I've been contacted by several companies I could expect to earn around $55k a year.

So help me please...what would you do? Am I being too emotional?
It might be crazy, but your biggest debt is your home. Would it be possible to sell and make back more than the mortgage plus the 2nd mortgage? I know not many people would move to a cheaper place but it seems that would help you be able to stay home. Also,can you find employment that is on the opposing shift to hubby, avoiding childcare? I too could earn about $50,000 returning to work, but with daycare for 3 kids under 5 would make it not really worth it to me. In pa, it seems houses are cheaper (based on househunters lol!) But nevertheless we live in a pretty small house, and plan to move when we are completely debt free of our home and car. Our mortgage can be paid with my casual pay from working just Sundays. I'm pretty sure Dr would suggest something similar, but I know most people aren't as hard core Dr followers as we used to be..(we weren't as rigid after we had our kids, and are getting back into it now) It's hard to give some of these things (homes, cars, expensive "toys" )up. Hope you can find something that works for you!
Mommy to Anna (12-20-11, Alex (12-1-09) and Jordan (03-20-08) [/COLOR] RN and custom seamstress and artist on the side
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