Club SAHM

[SAHM Chew]

ammonite:

I see. Best to keep all options open and start looking at job market as well as childcare/student care options. But if you have the reserves to last 2-3 years, it can be a gradual transition whether work wise, or lifestyle wise. In any case if your DH is home for some time, he can be the stay home parent to the boys while you freshen up your CV.

DH do not want to commit looking after the kids as he need to go out and do networking, as well as venture oversea to see if there is any jobs available.

[SAHM Chew]

Harlequin:

SAHM Chew:

The most expenses things are IRAS, car and ins. IRAS, we still need to pay until apr next yr for last yr assessment. Car loan left with one yr til next yr Apr too. Ins, hard to cut as it cover for 5 of us.

Hi, just to share some of the options...

Life insurance premiums can be deferred with interest, depends on the cash value and bonus in your policies; or you can make a loan from your policies cash value. Worst case scenario you can reduce the sum assured to lower the premium, or convert to low premium layout's non cash value policies but maintaining the same sum assured.

For Personal Income Tax, defer or reschedule the monthly payment is possible, your hubby will have to meet the officer with all the relevant documents. Should you have to, please do it before the GIRO payment lapsed, they need about 2-3 months to review.

In case you really need to, you can remortgage your flat/condo/house for some extra cash, try to start with the current bank that finances your property when you seek refinancing, they are usually more willing to work a better deal for you.

Thanks for the advise. Let me see how to work it out.

[sharonkhoo]

SAHM Chew:

We have similar situation. High income tax, and for the new job, it may also mean 50-60% pay cut.

I am considering to join back the workforce, but I may not be able to command a high pay. And I will need to place my kids in student care. In that case, the income that I have may just be enough to pay for the student care fees.

If you will only make enough to pay the student care fees, maybe you can look for something you can do either while the kids are in school or from home? Harlequin has also made some really good suggestions. If you describe some of the other bigger items in your budget, maybe others can also make suggestions. The main thing is that your husband knows that you are all behind him in this otherwise he will feel guilty. Assure him that his mental well-being is worth much more to your family than his income. If you can be positive with the kids, learning to live happily on less can be family endeavour which will bring all of you closer together.

[Harlequin]

slmkhoo:

SAHM Chew:

We have similar situation. High income tax, and for the new job, it may also mean 50-60% pay cut.

I am considering to join back the workforce, but I may not be able to command a high pay. And I will need to place my kids in student care. In that case, the income that I have may just be enough to pay for the student care fees.

If you will only make enough to pay the student care fees, maybe you can look for something you can do either while the kids are in school or from home? Harlequin has also made some really good suggestions. If you describe some of the other bigger items in your budget, maybe others can also make suggestions. The main thing is that your husband knows that you are all behind him in this otherwise he will feel guilty. Assure him that his mental well-being is worth much more to your family than his income. If you can be positive with the kids, learning to live happily on less can be family endeavour which will bring all of you closer together.

Thanks, Slmkhoo. You are ever so helpful in many threads. I read almost all of your posts... :hugs:

Financial planing should start as soon as one foreseen. It's never easy to navigate this narrow path.

To SAHM Chew-- disciplinary spending have to kick in now before your hubby quit his job, best is to do without any credit cards or any credit facilities, so to reflect the actual finance situation for your easy planning. Credit cards are the master of all evils, once tapped into it, many years to get out.
Imagine an unsecured credit monster at 24% p/a, COMPOUNDED, that are there for you when you are distressed and tempted....

Any money that you paid out (IRAS, Insurance premiums) you can't get a refund should you need cash down the road; to ease this, you need to get into action as soon as your hubby quit his job-- seek deferment from IRAS and your insurance company, so you can preserve as much of your cash as possible.

[Harlequin]

It’s prudent to maintain your personal bank account/s, separating the liability from your spouse… the personal bank account/s insulate the spouse from lots of unforeseen financial liabilities…

[vinegar]

BeContented:

TheAnswer:

[quote=\"vinegar\"]RA RA RA......pai sey le....


even we married for almost 10yrs+,i still chase him out when i am changing. :oops:

It's too much hassle. We always change in front of each other. Why need to chase him out? What is it that he hasn't seen :?

New fats. New stretch marks. New old age spots.[/quote]i've little fats ard tummy,no stretch marks...except a bit of fine wrinkles.

Don't know...cannot overcome...DH always asks to on light when :censored: ,but i always off the light.

He said i dare to wear 2pc swimsuit n walk ard at swimming pool,yet don't dare to show him.I think i cannot stand the way he stares at my :censored: when i am changing.Nobody likes to be stared,right?

[vinegar]

SAHM Chew:

DH do not want to commit looking after the kids as he need to go out and do networking, as well as venture oversea to see if there is any jobs available.

Men always like that....expect the wife looks after the kids.We r always the supporting role.

[Canvas]

SAHM Chew:

Ladies, what is your darkest moment as a SAHM?


I am facing my darkest moment now. My DH had decided to quit his high paying job and soon we will be unemployed with 3 young boys. And high expenses to maintain.

No new job at the moment and we have to tap into our savings.

I hope you are feeling a little better today. I can imagine the stress and uncertainties that you are going through because I had gone through my darkest period 9 years ago and it was excruciating.

I am hoping that you and your DH will find a good solution soon.

[janet88]

Men want to network, venture overseas and leave domestic affairs to wife…but when things are not pretty, they turn around and say they are working hard for the family. Yes, that I agree. Times have changed, so it’s very competitive. When my uncle was posted to Taiwan, my aunt persuaded his wife to accompany him…at least family is intact.

When loneliness sets in, that’s when 3rd party comes on.

Hubby almost became a teacher, taking more than 60% pay cut. Insurance, household expenses, flat and car were big ticket expenses. Fortunately, he changed his mind.

[TheAnswer]

Ladies, how many months of reserves do you think we should set aside? I mean in terms of liquid cash.