Message #740

[msmarieh]

Jade, there is something that I have to ask. My hubby and I would never have accepted a job transfer with a 10K drop in salary. What were the circumstances that forced you to accept this rather than staying where you were and having hubby find a new job (even at the lower salary - you would have kept your job and avoided the move expenses)? Be sure you tracked ALL move expenses. Anything that wasn't reimbursed by your company may be able to be deducted from your taxes next year.



Have you sat down and written up a budget detailing what you are currently spending? You are short $175-200 a week (approximately). This is a pretty realistic amount of money to make on the side with a little creativity.  Basically you have to either cut your expenses (keep looking, there's probably more ways you can reduce them), eliminate items (necessities versus luxuries - the definition becomes clearer the closer you get to bankruptcy), increase your income, or create some combination thereof.



Can your husband get a part time job in the evenings and on the weekends? I realize this cuts into family time, but sometimes it is necessary until you are stabilized. If you are going to do this, try to get a job somewhere that gives you practical discounts (wal-mart, home depot, etc.) but don't spend all your salary there! Could he cut lawns for neighbors, chop firewood, shovel driveways, pick up dog pooh, (whatever!!!), hire himself out as a handyman at $20/hr plus materials if he has any talent for it?



Also, how about picking up a few other lines of business like Tupperware, Avon, Tastefully Simple? You can at least display the brochures at work even if you don't have time to host the parties. I don't know how the details work on these, if you have to sell a certain amount to keep your distributorship or if there is a high upfront cost or what. Run a small ad in your local paper announcing it. Also, send them a press release announcing that you are now a local Discovery Toys distributor (including all contact info of course). They will usually print it in their business section (especially if you are in a very small town).  There's no cost to submit it. Pick up a book at the library on marketing yourself - I have 101 Ways to Market Yourself and The Secrets of Power Marketing. Marketing does not have to be expensive. Did you make up Discovery Toy flyers for yourself and leave them at every bulletin board (local hot dog stands, grocery stores, library, etc.) to get the word out?



Do you have a special skill or hobby you could use to earn extra money? One of my friends is a fabulous sewer - she sews custom christening gowns - clients pay all materials plus her time. Another friend is a good painter. She paints murals for people for extra money. Another had a craft business. I used to make jewelry in the evenings. Check out the library for books on home based businesses to see if there is something you could do. It's not unrealistic to make an extra $100-200 a week with a few hours of work and you would still be home with your family.



Have you looked around your house to see if there is anything you can sell? Have you got an extra bedroom where you could take in a boarder for a couple hundred extra dollars a month? (Perhaps a college student that could help with the childcare for a little less rent?) Can you babysit for neighbors? Dog walk? Housesit or catsit for people out of town?



Have you got a home computer? Could you offer tutoring or type papers for local college students? I charge $20-30/hr for tutoring locally and get one or two new clients every week from a $4 ad in the local paper. Most of my clients get 3-4 hours of tutoring (and with 1-2 clients a week, this can be as much as $75-150/week extra money for me!). And don't think you have to be in city for this, most of my clients so far have been from rural areas with populations of about 500-5000!



Is there a market research company located nearby? There's one near me that has home typists input all their returned market research forms. They pick them up once a week and drop them off the following week.



Is your home weather proofed well? Consider adding some inexpensive home improvements to lower your electric bill. Water heater covers and timers are supposed to pay for themselves within a few months, plastic window cover sheets, caulk for any seams, weatherstripping around doors. You can get this stuff pretty cheap (watch for sales) and it can make a big difference in your energy bill.



Check more closely into your lease. Sometimes they CAN be broken. My sister was able to break hers because the apartment was making her son's asthma worse. You say your daughter has it - has it been worse in the apartment? You may be able to break it with 30 days notice for medical reasons (a note from your doctor may suffice for this). That shouldn't cost you your security lease. Alternatively, you may be able to sublet your apartment until May. Start investigating alternate locations and seeing what is out there and how much of a difference there is in price. Take into account the moving costs you might incur and the additional cost of re-hooking up utilities, etc.



Go and talk to one of the NON PROFIT debt management services. Make sure it is a non profit and not one of the ones that charges you outrageous fees. They will work with you to set a budget, help you pay down your bills, negotiate lower interest payments, and extend the payment terms. However, more than likely they will require that you cut up your credit cards so you don't get into any worse of a situation. One of my favorite phrases:  "You can't get out of debt by incurring more debt."



Contact your insurance company and ask them if there is anything you can do to lower your premiums - perhaps a higher deductible, have you got all your discounts for things like anti-theft devices, multi vehicle discounts, home (or renters) and car insurance at same place?



How long was your car financed for? Four years? Five Years? You may be able to find a loan for six years that would give you some breathing space. Refinancing is NOT necessarily out of the question.



Bottom line here, stop thinking of reasons why things WON'T work and start thinking of alternative ways to MAKE THEM WORK!



Good luck! (holy cow, this got long! Didn't mean to write a novel.)



Marie