Pages

Monday, January 11, 2010

Change comes like the wind.

It seems like change always comes when you aren't expecting it. I've been preparing myself for big changes - changes that I didn't think would come until spring. Turns out, things were meant to change for us sooner than we had expected! Starting this week, Mike is now 100% freelancing - he is no longer employed. This came as quite a shock to me - we just bought a house, and are expecting a baby soon! What kind of timing is this?!!? While I am still very nervous, there are definitely pros and cons to the situation.

Pros:
1. If it had to happen at some point, now is probably the best possible time. We actually started saving money, and while we were intending to replace our windows with it, at least we do have that cushion and will be able to afford our mortgage for a couple of extra months should we fall short on income.
2. I got a bonus this year, which is enough for us to buy the necessary furniture items for the nursery (crib, glider, and dresser).
3. While I am still working full-time, we are able to cover all our expenses, even without Mike working.
4. We still have 3 full months for Mike to find stable income before I go on maternity leave.
5. Mike will be much happier doing work that he enjoys - Work has been a major downer for him, so he will finally be able to be himself again.

Cons:
1. It is scary to be pregnant, knowing that in just a few months, we will not be able to afford our expenses if Mike hasn't found steady income yet. We are now on a SUPER tight budget.
2. We still need a second vehicle - if Mike needs to buy new business supplies, that will drastically cut into our car savings fund.
3. Things are now up in the air as to what I will do after the baby comes - I can't make any plans until we know what Mike's employment situation will be like.

So see, the pros do outweigh the cons. But please, keep us in your thoughts and prayers. This means that I need to get very serious about setting up my bookbinding business so that I will also have a supplemental income, but I have been SO exhausted lately, I haven't been able to manage it. And if any of you, or anyone you know needs any graphic design or web design work done, please send them our way! (He does AWESOME work, really!) We need all the work Mike can get right now.



2 comments:

Annie and Jordan said...

I am sorry to hear about Mike's job...it is scary to think about, but maybe it can be a fresh start. I am sure everything will work out in time, don't stress too much about it! Good luck with the business ventures for both of you!

zebe912 said...

If you haven't already, find a space in the house he can set up as an office and keep track of any receipts spent for the business so that you can maximize your tax write offs. There are a lot of great things about being self employed, you just have to plan ahead. (Like make a point of saving to pay self employment tax, or else it will kick you in the butt later. But write offs can help reduce that.) It is intimidating, but the majority of our income is from my sole-proprietorship. It is totally do-able.