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  #1  
Old 09-19-2014, 11:53 AM
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Aceofhearts Aceofhearts is offline
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Location: New Hampshire
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Default Does Anyone Run Family Day Care as a Single Person?

If so, how do you handle personal and daycare expenses and owning your own home?
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  #2  
Old 09-19-2014, 11:57 AM
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craftymissbeth craftymissbeth is offline
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I do. It's just my 7 yo ds and me. I have 3 dck's and my income is about $1300 plus about $350 from the food program. I keep my expenses minimal (house is $600 a month... thankfully I'm rent to owning it from my parents and the mortgage payments are low).

There's a real fear that I could lose all of my income in a heartbeat and be totally screwed, but I just try to keep chugging along.
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Old 09-19-2014, 12:13 PM
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Welcome!
I run my business by myself and support myself. Thankfully there are only 2 more payments left on the house but there will still be a lien for subsidized interest from taking out an FHA loan a million years ago.
I own a 2007 car, bought it used and paid it off ahead of time.
Anyways, I've never been good with budgets and I don't separate costs, etc. What I do is keep enough money out every week to cover groceries and anything else I might need to pick up before next pay day. I try to use strictly cash for purchases and write checks for bills, trying not to use my credit card unless I absolutely have to.
I'm able to bank a lot more during the summer due to higher numbers which is good because of heating cost and property taxes/insurance costs in the fall/winter.
It's not the best way to do it I'm sure but it works for me.
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Old 09-19-2014, 12:26 PM
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I've fully supported my household for a few decades. It is scary once in a while, but I have always made it work.
I am, by nature, financially conservative, (um, ok, you could say thrifty. or cheap ) so that helps.
In general, I know what my income is and what my expenses are, and how I will handle that.
When things are tight, or when I want to spend on something out-of-the-norm, I make up my budget by the week, extended out for several months: income, when I'll pay what, what's left, what I'll save. There has never been anything that I wanted to do, that I couldn't figure out a way to do!
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Old 09-19-2014, 12:47 PM
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I am the sole breadwinner since DH lost his job in '08. I made him my assistant but he works for just the perks. I have become very frugal and everything is paid off except the mortgage and utilities of course. When enrollment is low it can be a challenge.
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  #6  
Old 09-19-2014, 05:17 PM
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EntropyControlSpecialist EntropyControlSpecialist is offline
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I am the breadwinner and I have supported myself and a teenager when we were separated. I have to have 7 kids just to make ends meet and 8 kids to make ends meet and pay my quarterly taxes (I am licensed to have 12, but my daughter is under 18-months-old and takes up 2 spots). I really struggle with finding peace when it comes to $$$ because I am always anxious about it.

But, I have ALWAYS been able to make ends meet by the grace of God. It is totally doable.
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  #7  
Old 09-20-2014, 05:35 AM
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Just wanted to add:
If you look around there are always little ways to get extra $ too. I do STARS and received 3 bonuses so far, which has helped immensely. The state(I'm in VT) sometimes offer grants or bonuses for being members of other things too.
I do swagbucks which buys dc gifts, and I just bought 6 cots with that earned money. My grocery store offers double rewards for shopping certain days so I get $5 off after spending $200. I let those add up and get a week's groceries free when I have enough.
When my dh and I separated 6(7 now?)years ago, he made a list of my income and all the expenses to show me I couldn't make it alone. It scared me to pieces but I showed him differently.

Keep working hard at this if it's what you want and it will happen.
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  #8  
Old 09-20-2014, 09:09 PM
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Save when your numbers are higher, because things can change quickly.
Shop sales and use coupons when you can.
My clothes and my daughters clothes etc. are mostly second hand.
Thrift stores for many household things
Downsize
Sell what you are not using
Make sure your rates are not too low for your area
Meal plan
Swagbucks. I save them all year. Then use them around Black Friday to do Christmas shopping
Taxes - keep all of your receipts and know what you can claim
Budget - track & know how much you are spending. Then make sure you are spending below your means

It can be done.
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  #9  
Old 09-22-2014, 08:53 AM
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My opinion is to take the advice that the others have given you here and stick to your plans! Don't let anyone or anything make you give in or give them any control over your finances.

That's what I did wrong.

As soon as my ex moved out, I took inventory of my income and expenses. I made changes that allowed me to lower my expenses and raise my income (I started doing daycare 24/7 instead of just 6am-6pm Mon.-Fri). I even got to the point that my debt was completely paid off and I was saving most of my income. I moved my 2 girls and myself to Florida to get away from my ex and be near my sisters. And there, I did perfectly well.

After a couple of years, I moved back to the area my ex lived in so my kids would not have to visit him without me at least close by (he was abusive and the girls and I were scared of them visiting him without me in the area). Then my ex started demanding that my girls have cable tv, be able to go out to eat, be allowed to go on outings with their friends and participate in activities that I simply could not afford. Since he was abusive, I changed my budget and instead of paying my bills and saving my money, I budgeted for my girls' fun activities. So, now, a few years after obeying my ex, here I sit with my truck having been repossessed, 4 accounts in collections, cut off notices for my gas and electricity, actually a negative balance in both my checking and savings accounts, and can't even afford to live paycheck to paycheck. Allowing my ex to dictate to me how to spend my money has completely ruined me financially. Before I let him tell me how to spend my money, I was perfectly fine financially.

So, my suggestion is to take inventory of your income and expenses, figure out how to lower your expenses and raise your income. Make a budget and stick to it no matter what happens. I'm sure that you can be successful at running a single income household.
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  #10  
Old 10-13-2014, 03:11 PM
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Hawaiiannie Hawaiiannie is offline
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Default Also a single parent

I am just starting with both, we will see how it works out! Currently I barely have enough money to live, but I have been only watching two kids partime, plus child support. I just got licensed and picked up one more part time kid (only two days). I have had lots of responses and hopefully will get more kids soon. I just signed up for the food program and next month will get money from it. I don't own my home, I am renting it from my parents, but haven't been able to afford rent yet. Hopefully that will change soon.
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