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Single mom. Work part time or buy house?
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seeker




 
 
    
 

Post Thu, Jan 26 2023, 12:49 pm
Wanting to add for those single moms who work full time because you have no choice - kol hakavod to you. I believe G-d is with your kids and will help you all do ok despite the hardships. I hope that my underlining the hardships doesn't make it feel worse. I'm just talking about IF there's a choice
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amother
IndianRed


 

Post Thu, Jan 26 2023, 1:14 pm
That's amazing that you are able to support yourself and your kids on only a part time salary.
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amother
DarkCyan


 

Post Thu, Jan 26 2023, 1:56 pm
amother IndianRed wrote:
That's amazing that you are able to support yourself and your kids on only a part time salary.


This. I’m so happy for you.

If you feel comfortable sharing, I’d love to know what degree you have that allows you to make that much.
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seeker




 
 
    
 

Post Thu, Jan 26 2023, 2:10 pm
amother DarkCyan wrote:
This. I’m so happy for you.

If you feel comfortable sharing, I’d love to know what degree you have that allows you to make that much.

Not to open a can of worms but as the household is mostly children, you don't need to make THAT much if you stay under the line for state sponsored health insurance and possibly also food benefits. There's another recent thread on this so please move over there for further detail.

Combine that with certain economies of a part time flexible job such as not needing after-school childcare or school vacation camps.

We also lived pretty cheaply, young kids can wear more hand-me-downs than older ones, etc.
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amother
Burntblack


 

Post Thu, Jan 26 2023, 2:10 pm
Houses can be money pits. Invest in your kids. Way better return on your money Smile
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amother
Narcissus


 

Post Thu, Jan 26 2023, 4:05 pm
amother OP wrote:
Looking for opinions. I'm a single mom with full custody and no child support. I come from a poor family with no financial support from my parents, and have no savings.

Luckily, I have a degree and can make a middle class income if I work full time. Also, I live in a place with relatively inexpensive housing, and I get free tuition.

I have been working part time for the past few years, getting a small amount of government aid, and have been living decently, I don't feel like my kids or I am missing out, BUT even though real estate is relatively inexpensive in my area, with this part-time income I would never be able to make a down payment for a house.

So my question is, how important is it to buy a house? If I were to work full-time, I could make a down payment in about 5 years, probably a little less. But I'm afraid I'd feel overwhelmed, tired, be a grumpier mom and less available to my kids and enjoy life less. My kids are still little...

Opinions?


All depends on what your needs/priorities are.
Do you have enough room in your current residence? A yard?
How m any kids and ages?
Make a list of pros and cons of living where you are vs. buying a house, and which you absolutely want/need and then you’ll see which one makes more sense
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amother
Diamond


 

Post Thu, Jan 26 2023, 4:20 pm
You dont have the money for a down payment now - so no point in theorizing what might be.
If you can try to go to work full time & see how it works out, I assume if its not good for you, you could always go back to working part time. Work for a couple of years - if you can, to save up the downpayment. Then you can reevaluate if buying a house is good for you, or if you can afford it. (If its not, you could then invest that money, or buy an investment property in cheaper area etc). Generally, buying a house is a good investment, but costs always go up, utilities, maintenance etc (and life costs go up too) and you don't see any return on your investment until you either sell & move again, or pay off the mortgage. It needs to be a long term plan.
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amother
Darkblue


 

Post Thu, Jan 26 2023, 4:46 pm
I don't know. I live in a place where renting is incredibly unstable. Unless you get subsidised housing for low income people, private rentals are insanely expensive (right now) and also, you could lose your house without warning. (always) My friend moved 4 or 5 times in about 8 years until they were able to buy.

I am renting now and utilities are not included also. (not in USA). And I can't do anything to the house - one dishwasher/sink only and no space for another? I can't remodel the kitchen to put in a second.
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amother
Impatiens


 

Post Thu, Jan 26 2023, 5:16 pm
amother Darkblue wrote:
I don't know. I live in a place where renting is incredibly unstable. Unless you get subsidised housing for low income people, private rentals are insanely expensive (right now) and also, you could lose your house without warning. (always) My friend moved 4 or 5 times in about 8 years until they were able to buy.

I am renting now and utilities are not included also. (not in USA). And I can't do anything to the house - one dishwasher/sink only and no space for another? I can't remodel the kitchen to put in a second.

Renting in the USA and utilities are not included. They are not included in many rentals. But usually things like lawn and snow removal are included.

The main advantage is that things like homeowners insurance are not your problem (renters insurance is far cheaper). All structural issues, plumbing problems, broken major appliances etc. are not your problem and you don't have to pay for them.

Of course the ability to modify a home is a perk of owning, but it's quite possible to learn to make do.

I've never lived in a home with two sinks. But if I really wanted to, I could get an attachment to split the water supply to the washing machine and install a freestanding utility sink. It's not as convenient, but I'd say that the ability to be present with your children is FAR more valuable than the convenience of having two sinks.
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amother
Papayawhip


 

Post Thu, Jan 26 2023, 7:22 pm
OP just want to send this your way! Hug You are a real inspiration to me and many others here. Your children are still young and need you around. you made the correct decision. Later on down the line you can work longer hours as needed.
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amother
OP


 

Post Fri, Jan 27 2023, 1:43 am
amother DarkCyan wrote:
This. I’m so happy for you.

If you feel comfortable sharing, I’d love to know what degree you have that allows you to make that much.


It's not that my degree makes a lot, the reason I can support myself with part-time is:

I live in a very cheap part of Israel (I don't want to say where, but it's either way up north, way down south, or way past the green line). My kids go to the public religious schools which are are practically free. I'm out of work by the time school ends so I don't pay for the tzaharon, I do pay for a few hours of babysitting a week. I don't pay for healthcare.

I actually don't get much government aid, but I get the same amount that a single mom with my income who lives in Tel Aviv (most expensive city) would get, so it goes a lot further for me.

It's very easy to get clothing for free. I never even asked anyone, but my friends/neighbors with slightly older children will bring me bags of clothing that their children outgrew.

When housing is cheap and tuition and healthcare are free, you can live decently on part-time.
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amother
OP


 

Post Fri, Jan 27 2023, 1:46 am
Almost everyone is saying to stay part-time. That's actually what I wanted to hear. I just wanted to hear other peoples' opinions to make sure I was not making the comfortable-but-stupid mistake.
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