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What's YOUR plan?

Posted by on Jul. 2, 2014 at 7:51 PM
  • 18 Replies

 I have been following a post in another group about what SAHMs would do if their SO got injured, died, got laid off, divorce, or whatever.....basically, what was there plan.

There were several women that seemed to have worked that out ahead of time but some made me nervous.  They were basically say "get a job"....yeah, that's easy.  One woman said, "got back to school....get a job.....not hard."  OY!

I was surprised to see so many women say "go back to school and get a job".  That just made me nervous for them.

But there was a question asked.....what about working moms? 

So, I"m asking you......what's your plan if your SO got injured, died, got laid off, divorce or whatever?  Do you think you can make it on your own righta way?

by on Jul. 2, 2014 at 7:51 PM
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Replies (1-10):
by Member on Jul. 2, 2014 at 7:54 PM
I was a sahm then my ex & I split.

I had s job in a months time & have held my own since.

I was sahm for 4 years there was no plan except ficure it out when/if. I've been doing this over 2 years now.
by Group Admin on Jul. 2, 2014 at 8:07 PM
The fact is, I make about 2 1/2 times more than DH. His check only pays groceries & gas & if needed I could cover that as well (my extra $$ goes to savings, holiday acct., college funds for 3, etc.)

So, for us the real question is what would DH do. If either of us die we have lots of life insurance that would keep us at the same standard of living for a long time (years).

If I got laid off, we'd dump our phones & extras like netflix, hulu, prime, I'd immediately start subbing in the area - I'm a former teacher & they're always short subs - we'd use savings if we had to while I did my best to find a new full-time job.
by Gold Member on Jul. 2, 2014 at 10:01 PM
tough question. Life insurance would get me through, btw my job, the life ins, his 401k, i think we would be fine. but our youngest is almost 13, so its a different situation from having babies and toddlers. He also has a share in his family's land that would go to the kids so it could be developed or sold if we got desperate
by on Jul. 2, 2014 at 10:50 PM

Been there, done that permanently...TWICE.  After the 2nd time, I did go back to school.  I now have a degree and years of experience along with a good network that enabled me to get a job very quickly this past spring after 15 years of being a SAHM.  My job is seasonal (I have no desire to be a working mom all year and no need), so if DH were gone one way or another I would have to find something that would be full time but I don't anticipate it taking very long at all.

I already have skills to live frugally.  My kids are pretty well grown or gone.  I own my home (no mortgage.)  I wouldn't have DH's expenses (car, insurance, food, gas money) and that would save some money, but I would need to get medical insurance since we have it now through his employer.

I am pretty sure I can make it on my own....but it may take a month or so to get everything settled.

Oh, and we have life insurance if he were to die.

by Bronze Member on Jul. 3, 2014 at 3:30 AM

I can easily make it on my own without him.

by Silver Member on Jul. 3, 2014 at 7:23 AM

Unfortunately we have had to think of this A LOT in the last 5 years with 5 lay offs and more to come at my work. BTDT with the injury thing too.

Right now taking advantage of no child care and hopefully paying off some debt and out some away in case I am next at work. They do give out packages so I know I will have some time to figure it all out. Honestly with 1 in middle school I am starting to think college so probably going to look into jobs at colleges (I have been working in financial for the past 14 years) The thought of being let go now is a little less scary because my child care expennses are significantly less this year and I would just forgo after school and use grandparents if I did go back until I could sign them up again.

Death for the immediate we have life insurance but neither of us could keep the house. I'd move in with my dad which actually would help both of us. DH would need to move home to mom he could never do it alone.


by Gold Member on Jul. 3, 2014 at 8:55 AM

I have already told DH that, should anything happen to him, next time I am marrying for money :)

In all seriousness though - we both have decent life insurance policies that, in conjunction with our retirement plans and savings, should take care of the other for a really long time. I already work full time, but if DH was not in the picture for whatever reason, I would take DS and move far away from this place. My degree and work history is such that I could find a good job in almost any location.

by Valeri on Jul. 3, 2014 at 12:29 PM

 If either of us got injured - we are both covered with disability from our jobs that should be okay. 

If he died - our life insurance will allow me to pay off the house and put the rest into a college fund for the girls.  Bills after that should be manageable.

If we got divorced (which has been a though in the past year or so) - I can financially make it on my own but I would likely have to move into a 2-3 bedroom apartment because DH makes more money than I do and can better pay for the expenses of the house. 

If he got laid off - We would save money on daycare expenses since he would be home with would allow me to be able to may for the rest of our bills.  We would live off a very tight budget.

**We do have a savings that is equivalent to about 2-3 years of emergency funding.


by Member on Jul. 3, 2014 at 2:07 PM

I'm currently reading that thread.

My husband has life insurance. I don't know what I would do though. He's currently in the process of finding a new job, and I'm trying to minimize our expenses as much as possible, pay off medical bills, and build our savings just in case he does get a new job that doesn't work out. As it is both our jobs aren't stable so I'm figuring out the what ifs now.

by Aisha on Jul. 3, 2014 at 3:01 PM
If he died we'd have a life insurance policy but we would make it fine. One car is paid for and I would "return" the other one. If one of us lost out job the need have to cut daycare out and maybe "return" the car depending on which one of us it is. Also be eating much cheape from the grocery store
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