quote:
Originally posted by demejoe:
Most SAHM's arent thinking long range, they figure they got it all figured out. Like you, I applaud any SAHM that has a plan but I have yet to encounter one who did, but some of them have the nerve to look down on working moms, heck at least we got a plan.
As a SAHM, I will tell you my plan in case something happens and my husband is no longer able to work.
First, nothing is bought on credit. If we cant pay cash for something, we dont need it. This does include our house. End of discussion. Simply eliminating the interest portion of car payments, credit cards, and mortgages eliminated the need for a second income. But we took our planning even further...
Second, we grow our own food and get this...it's organic and free.
Third, we use solar panels to provide electricity to our home. Our house is heated using electricity. We have a well and a septic so our only bills are our phone and internet, monthly this is less than $100.
Fourth, we homeschool. By far, our biggest expense, but still cheaper than sending four kids to school.
Fifth, we put away 25% of our income for retirement and another 25% goes into a saving account-the just in case fund. There is enough money in our retirement fund to cover all four kids going to the college of their choice and for us to retire comfortably-that's not counting what is in the just-in-case account. We are not yet 40, so we still have plenty of time to add to these account as well.
When my husband and I decided that I would be a SAHM, we made a plan and stuck to it, only adjusting it when we figured out another way to save money, such as installing the solar panels.
You wanted a SAHM to state her plan so I did. I may be the exception to the rule, but hey, now you know at least one SAHM's mom who has a plan and was willing to share it with you. Yes, I admit that I do look down on working moms. Just because a mom is working doesn't mean she has a plan. It just means that she is working outside the home.
There are other aspects that I didn't share with you, such as health insurance, life insurance, and my retirement account (built from interest made on other accounts.) But I think I shared enough of my plan that you can probably figure out that these details are taken care of as well.