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Old 10-04-2012, 11:22 AM   #76
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Re: Dave Ramsey Support Thread Oct 1 - Oct 7

Originally Posted by nhochs View Post
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 is such a hard decision to make, and what ever you decide would be best for your family DR would support. He is a huge proponent of Mom being home, I myself work full time and for our family it is great. We have amazing childcare and I make enough to make it worth the cost.
I think you need to do what is best for your family.
Maybe you could get something part time or work from home?

Originally Posted by EmmaGM View Post
Does dr ever say anything about throwing money away on rent? Because that's what I feel like I'm doing.

Maybe its not so bad in other places but here, I could buy a 3/2 home for the same as I'd pay in rent for a 2/1 apartment.

The point is moot atm because it will be several years before we're ready to buy, I'm just curious as I've never read or heard DR say anything about the nature of renting.

Sent from my Galaxy S III using DS Forum
I know it may seem that way, but you could end up like us, throwing money at a mortgage that we are so upside down in we couldn't sell if we wanted to. Yes home ownership is nice but the reality for us is we don't have options if for some reason we had to move. We are not only in this place because of the housing market, but because we put 0 down.
Maybe you should make a plan to re evaluate when you have paid off 1/2 of your debt. That way you may be in a better financial place and it won't seem that far away
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