Calling all Freelance/Paycheck couples...(wall o text, sorry!)
February 4, 2014 8:06 AM Subscribe
How do you budget?
posted by anonymous to Work & Money (8 answers total) 6 users marked this as a favorite
My wife and I are struggling, financially. Since 2008, after my father died, I've been on a roller coaster professionally:
1. Laid off from job I was at for 9 years (late 2008)
2. Hired by vendor/major co. I worked well with (full time/early 2009)
3. Fired (Aug. 2009)
4. Unemployment (4 mos. into 2010)
5. New job out of state (full time, 400 miles away/commute back home every other weekend/absolutely horrendous work environment/shit boss, etc.) for 18 months
6. Laid off (July 2011)
7. Unemployment (4 months)
8. New job (November 2011/contract) - so-so, smaller firm, no project management and kind of clueless manager, doable. Potential of going perm
9. Contract abruptly ends Dec. 2012 due to cut backs.
10. Unemployment (3 mos.)
11. New job (Mar. 2013) - learn new stuff, boss is cool, like a lot. Hope to go perm 6-8 mos.
12. NOW - contract is looking to be up end of March; no perm position. Had good interview within company last week, should get an offer...but, i've been wrong before.
While this is going on, my wife has been trying to get her freelance copywriter/marketing career off the ground. In 2009, the boutique ad agency she worked at closed it's doors due to burn out of the Principal. My wife worked there straight out of college for 20+ years. She was the Principal's right hand person, so to speak. She made low six figures for 10 years, easily. After five years (this week) she's barely making it. She made 25K last year. She has no website, but I'm trying to get her to sit down and work with me on a Wordpress site. I'm learning a little about everything about websites.
We have one son, own our house (bought on two good salaries back in '04) and have paid off our two cars. Due to my lifelong bad relationship with money I've (and we) have squandered boat loads of cash. I even went tapped out my rollover IRA. It was a totally conscious mistake on my part and I've been beating myself up ever since. I work up in a cold sweat after it ran out a few months later when i realized we had no reserves. It was 50K?
We both have checking accounts with the majority of the bills coming out of my account. She pays mainly for groceries and clothes for our son (too much if you ask me, but whatever) and private school tuition. Getting rid of private school is not an option due to the city we live in and their school system. My son is involved in AAU sports and other rec leagues.
NOW...the question: How do I budget with this type of set up and given what you know of this situation. I get paid every two weeks but could be unemployed in a month. She gets paid...i don't know when. Sometimes it rains, other times...nada. Feel free to email my throwaway: firstname.lastname@example.org. Thx.