Would you risk ruining your credit to stay home with your newborn?
Whether I stay home with my newborn son or work, I will not be able to pay my credit in full every month. My husband also works but we have gotten in over our heads. I work strictly to pay debt and even the amount I make isn’t enough. I want to stay home with our newborn son when he arrives in 2008. Would you (ladies) sacrifice your credit to stay home knowing that it’s already going to go down the drain either way?
Oh, without hesitation. Stay home!
Can you re-finance the debt somehow? Either way, your son being a tiny baby is something very special, and something that you can *never* get back. Credit, on the other hand…eh.
And your baby would totally agree with me, too.
Well . . . if money is tight, you have to consider childcare costs. Childcare cost might eat up your whole salary making it not worth working at all.
There are plenty of part-time jobs out there that you can do from home. I am blessed with the ability to work from home. I wouldn’t change it for the world. I can’t imagine not being home for my little one.
If I was in your situation, I would risk the credit problems because those can be fixed over time . . . but you can never regain the time lost watching your little one grow up.
Yes and I’m doing it now. I’ve gone from full to part time to spend more time with my son and also so I can nurse him for as long as possible (I got scared working full time would affect my supply) and I LOVE being at home with him all the time. Yes, my credit is probably suffering, but it will get back on track once he’s a little older and can go to preschool. I feel like the fact that he’s only a little baby for so long is well, well worth the sacrifice because credit can be mended, but my son’s babyhood cannot.
Have you checked to see if you could consolidate? Be very careful though some of the consolidation company’s can be rather sneaky.
I’d definitely stay home with my baby if there was any possible way to do that.
credit is so important! Your credit often plays a BIG factor in your childrens lives.. student loans..insurance rates.. i work for a credit card company….and you don’t know how many people i have talked to that are soo upset that them missing payments and what not have affected them trying to get a loan for anything… maybe u should look into a consumer credit counseling agency.. they consolidate debts into one payments many are non profit organizations that will help with some of the burden… or maybe look into providing childcare from your home babysitting or something.. to still provide some income along with being him with your little one …good luck with everything!!
No way, because when your credit goes down the tubes so does your creditablity. When the creditors come knocking on your door it won’t be pretty. As long as you are making an attempt to pay off debt most creditors will go easier, when you give up totally is when they call out the big guns and you can be sued by everyone of your creditors and end up without a home to stay in with your newborn. Ask yourself this question…Is staying at home worth living in a homeless shelter when your baby comes? I suggest you continue working and seek help from a debt reduction firm.
Yup… but mine has pretty much been trashed at this point anyway.
If it’s going down the drain whether you stay home or not you might as well get the benefit of staying home.
If you don’t have plans for buying a house or car anytime soon, go for it
Yes.
When me and the husbandy have kids, I’ll be staying home, or working from home. I’m going to be that overprotective, extremely annoying mom that makes cookies every day and plays board games with the group and, eventually when the kid evolves into D&D, yeah… …I’ll probably be playing that too (with two geeks as the parents, there’s no way that kid won’t end up a geek, too. Poor kid. =) ) …possibly with my husband DMing. …Which would be bad because he’s a vicious gamer.
Yes Yes Yes!
Stay home, trust me you won’t regret it. I went through a rough pregnancy and was unable to work so my credit went down the drain there….but I haven’t worked since I was pregnant with my twins and I wouldn’t change a thing. You can get your credit back on track eventually….but the first year of you life you will never get again! I am now back in school and while I didn’t get the best student loans……I don’t care!
And plus…why work to pay someone else to watch your baby and only have a tiny sliver left of your paycheck to pay debt with anyways!
STAY HOME!
Is this a joke? If your credit is going to “go down the drain either way” why would you dump your child into daycare?
Work at night or on the weekends if you have to.
I’m in a similar situation. My advice is to do all you can to stay home. Ruining your credit is one thing but you can get it back..time can’t return!
If you are that over your head in debt you need to speak to a credit counselor or even just your bank. At the very least CALL your creditors often if you just call they will lower interest rates which will help a lot.
Hehe my student loan trashed my credit because they were impossible to arrange to pay, and also take forever to file paperwork (like interest relief) but manage to report to the credit bureau instantly *lol*
Don”t do it!
You should have been saving(not spending) from the day you knew you were expecting and BEFORE!!!!
Improve your spending/investing habits… that is being a better Mother to your baby.
I would stay home. Unless you made really good money the amount you’d save in daycare probably wouldn’t be worth it. And you could always work part time on nights and weekends (or opposite of whatever your husband works)
Try seeing a credit counselor. You usually have to pay them but it will lower your payments and make things more managable.
No, I would continue working and contact a credit help agency to help me get back on track. The bills ARE not going to go away, so you’ll just have to pay them. Sorry, you don’t get my vote. You dug yourself in. If the reason for your problems was due to medical or maybe even a huge economic downturn in your area, I might be sympathetic, but I was sick as a dog and still worked two jobs to pay off my debt. Work nights and weekends – then child care won’t be added to your burden.