Throughout the year I regularly answer questions about money and/or budgeting. If you have a question, you would like to answer in a coming post, submit it here.
This week’s question is:
My husband has just lost his job and I am usually a Sahm (occasionally having a part -time job). That’s not the weird part! The strange thing is that we are about to sell our house, and if we do that, we have around $ 100,000 in the bank. We have signed a lease agreement to rent a house for the following year. We will be empty nesters in 5 years, so we will take it one year at a time.
How do I find out how to budget, what our income is, etc.? I can find basic costs, but where do I have to go from there? -Debi
First of all, thank you for your vulnerability when sharing your situation. I know that there are so many women at the moment who are in the middle of uncertainty – whether it is a job loss, a move or just step into a new season of life. You are not alone and I am sure that others will also appreciate your vulnerability.
What you describe is something called A Transition budget season. This is a time when your income is unpredictable, but you do have some resources available (such as the $ 100,000 of selling your house). You also look ahead to become empty nesters, which adds a low change. But here is the good news: this doesn’t have to be a scary season; I even believe it can really be a real empowerment.
How to budget in a transitional season
Let’s talk about how we don’t know that “I don’t know where to start” and make a plan in which you can feel confident.
1. Start with what you know
I often say: “Start with what you have.” When reading your question, I realized that you already have more clarity than you may realize:
- You know you basic costs.
- You know you rent the following year.
- You know you have $ 100,000 as a pillow.
- You know that your husband is currently unemployed and that you occasionally have part -time work.
That is a powerful basis. You don’t start all over again; You start with consciousness.
2. Put every dollar to work – even the savings
Even if you are on a large sum of money, Resist the urge to treat it as a bottomless pit. (Even $ 100k can quickly disappear without a plan!)
This is what I would recommend:
- Make a written monthly budget With your regular expenses – rent, food, utilities, insurance, gas, etc., estimate high if you are not sure.
- Divide the $ 100k In categories:
- Emergency fund (At least 6 months of living)
- Job search fund (resume help, classes and travel if necessary)
- Suffering costs (cover each deficit between income and expenses)
- Health insurance/medical
- One -off costs (relocation costs, car repairing, needs of children, etc.)
- “Holding Fund” – Money you put aside that you Don’t touch Unless really necessary.
Then treat (and this is the key!) Treat your monthly budget as if you are alive from your current income (even if that is now just part -time work), not About the savings. You can put out of the savings to cover holes, but doing this way helps you to stay intentionally instead of reactive.
3. Search for opportunities to earn and stretch
This is the season to become creative instead of panicking or to feel stressed! Things to consider:
- Can you pick up a few extra hours at your part -time job?
- Can your husband explore performances work or temporarily freelance options while searching for jobs?
- Are there things that you can sell or cut for a season?
- Is there a way to use your time at home Start all over again? (I share a lot of ideas about my Wahmcoach Instagram -account!)
To remind: Every little bit helps. Even $ 100 here or there can stretch your timeline, reduce your stress and give you more control.
4. Plan in steps of 3 months
You said you took things a year at a time. I think that’s great and I would zoom in even more and one ‘Mini Plan’ of 3 months. Sit with your husband and go through the following questions:
- What do we want to achieve in the next 90 days?
- How many of our savings are we willing to use this quarter?
- Which entry goals or milestones are realistic?
- What will success look like in this short window?
This prevents things from feeling overwhelming and enables you to turn without a panic.
5. Budget not only money. Budget Hope.
This part may surprise you, but I think it is just as important as the numbers. In a season of strangers it is easy to have fear taken the steering wheel. Instead, I encourage you Budget margin for peace, faith and joy:
- Perform a little money or time every week for something lives and coffee date, a walk, a library book, a moment of beauty.
- Practice gratitude. (Even one thing you are grateful for can shift your entire mindset.)
- Remind yourself: This is a season. It will not be forever. You walk through it and you don’t get stuck in it.
You have a solid start, and now it’s only about making a realistic, values -based plan. Know that I cheer here for you and can’t wait to see what will bring you in the coming years!
Psst! I made a source that could help: The budget of one hour – It is a simple guide to help you create a workable budget, even if life feels unpredictable. You can Grab it here And have a plan today.
Do you have advice for budgeting in a transitional season? Or do you have a story to share about how you have managed a similar season? We look forward to hearing in the comments!
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This 10 Flexible side Press women His flexible, fully executable, outside-the-box ideas! 🙌
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