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Job loss and going back to school

Anonymous
Posted by Anonymous
  • 5 Replies

My husband and I are in our 30s. For the last 8 years he has managed two retail stores owned by a small corporation while I have been a SAHM. Its been great, financially secure, we have a 350K house, brand new cars. We made good financial decisions. What we didn't see coming is the recession. Where we are at had a delayed hit and still isn't bouncing back. The locations my husband manages are going to be closing. After a long talk and some planning we have decided to go back to school. Both of us. He is going to get a part time sales job and we are going to go to school full time. We were given scholarships with a small living stipend from a relative. Its enough to cover most of our mortgage. We have equity in our house so we are going to pull out enough to pay off our cars and a small credit card we have. Therefore our only liabilities each month are going to be only the essentials. For the last several months his pay has been cut a few hundred dollars a month due to lack of sales bringing down his commission. We now qualify for medical assistance because I am pregnant and WIC. Its terrifying not being financial secure anymore. I was in the WIC office this week and the worker was so nice going over our situation and the changes to come. She was telling me about all of these programs to help us and I was so surprised at the level of support there is. Its going to be a tight few years but soon both of us with have BSN licenses and we will have almost double the income we had at our peak working a lot less.  Its just hard going from being financially independent to having a WIC check in hand and knowing next month when my husbands job poofs we will even more dependant on government assistance. 

Posted by Anonymous on Aug. 10, 2014 at 12:42 PM
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Replies (1-5):
Anonymous
by Anonymous 2 on Aug. 10, 2014 at 12:43 PM
Gl
Danesmommy1
by Grammar Enthusiast on Aug. 10, 2014 at 12:45 PM
Good luck!
AzaleaMichelle
by on Aug. 10, 2014 at 12:49 PM

Please think about the motive behind these assistance programs. It was birthed out of love. A love for fellow man, and a desire to reach out and help when it is needed.  It is a beautiful example of what a nation can do to protect one another. We each give just a little, so that another man's burden is made lighter. Rejoice that you have a chance to tap into such a wonderful gift. There is no shame in being helped along from time to time. We all need it.

Anonymous
by Anonymous 1 - Original Poster on Aug. 10, 2014 at 12:55 PM


Quoting AzaleaMichelle:

Please think about the motive behind these assistance programs. It was birthed out of love. A love for fellow man, and a desire to reach out and help when it is needed.  It is a beautiful example of what a nation can do to protect one another. We each give just a little, so that another man's burden is made lighter. Rejoice that you have a chance to tap into such a wonderful gift. There is no shame in being helped along from time to time. We all need it.

Its just pride. We never needed help before and now here we are. 

AzaleaMichelle
by on Aug. 10, 2014 at 1:04 PM

 I've been there. And it is a humbling experience. But there is nothing wrong with anyone growing in humility, right? Humility is a very special trait. And probably one that the world needs the most.

This is temporary, and you should be pleased that you were empowered enough to make a wise decision for your family.

Quoting Anonymous:

My husband and I are in our 30s. For the last 8 years he has managed two retail stores owned by a small corporation while I have been a SAHM. Its been great, financially secure, we have a 350K house, brand new cars. We made good financial decisions. What we didn't see coming is the recession. Where we are at had a delayed hit and still isn't bouncing back. The locations my husband manages are going to be closing. After a long talk and some planning we have decided to go back to school. Both of us. He is going to get a part time sales job and we are going to go to school full time. We were given scholarships with a small living stipend from a relative. Its enough to cover most of our mortgage. We have equity in our house so we are going to pull out enough to pay off our cars and a small credit card we have. Therefore our only liabilities each month are going to be only the essentials. For the last several months his pay has been cut a few hundred dollars a month due to lack of sales bringing down his commission. We now qualify for medical assistance because I am pregnant and WIC. Its terrifying not being financial secure anymore. I was in the WIC office this week and the worker was so nice going over our situation and the changes to come. She was telling me about all of these programs to help us and I was so surprised at the level of support there is. Its going to be a tight few years but soon both of us with have BSN licenses and we will have almost double the income we had at our peak working a lot less.  Its just hard going from being financially independent to having a WIC check in hand and knowing next month when my husbands job poofs we will even more dependant on government assistance. 

 

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