What Happens When Mom Goes Back to Work and Then Loses Her Job?

A MOM GOES BACK TO WORK AND LOSES JOB So, you have just lost your job? Now what? Well, I am currently in the process of figuring that out.

LOST MY JOB

After having returned to work in the private sector following a three-year hiatus, I was recently laid off. I had the perfect job and truly do hope to return to my same position. However, being realistic and wise I know that I must prepare for another position with a different company. Where was I for three years? Well, I was a stay-at-home-mom. Sure, my days were hardly anything but busy. Still, I longed to be a financially contributing member to my family again and to regain some of my independence. Many women struggle with the idea of staying home with the children or going back to work. It is truly a personal decision and not one that can be made by anyone but mom herself.

WILL THE KIDS SUFFER

Many women are concerned that their children will suffer if they go back to work. So, the key is to weigh the pros and cons. As long as you and your children are happy and healthy in your new settings (work and daycare) then who is suffering? In actuality, it might do everyone good for you to go back to work. Not only will you feel like you have some independence, but your children will gain the same and become acclimated to different social settings.

Of course, daycare and other child care situations do not work for everyone. The important thing is that you interview potential child care providers and feel absolutely comfortable with whom you are leaving your child(ren). Also, keep in mind that there is no hard and fast rule that once you go back to work you have to stay there. If you find out after a month or two that it is not working for you and/or your child(ren), you can return to your prior situation.

MONEY, MONEY, MONEY

Sure it is nice to have a little extra money coming into the household. That has been one of the biggest perks my husband and I have enjoyed since I went back to work six months ago. We were able to take the kids out to eat a little more and pay bills without stress each week. Though, the money is never guaranteed and you must be prepared for the worst. Had I not gotten laid off, there are other things that could have happened to me to cause me to lose my income. I could have fallen ill or even been flat out fired. Fortunately, neither of those things happened, and I can likely claim unemployment for a little while. Still, what do you do if the "worst" happens?

PLANNING FOR LOSS OF INCOME

Some employers offer short-term and long-term disability plans. Even individuals can get in on these plans by contacting companies who provide such benefits. Putting a little money aside each week is a great way to prepare for the what-if's. One way to do this is to open a savings account with a high interest rate, not your typical bank savings account. Put in $5-$15 each week and watch it grow. Do not touch the money unless you have to, and if you never have to then you have started to build a nice little savings for you and your family to benefit later on.

Take advantage of IRAs that allow you to save money for the future, without having to take out another mortgage on your home. If your spouse has flex spending opportunities or pre-tax savings plans at work-take advantage of them!!!

Some other simple ways to make money are the obvious. Have a tag sale, sell on Ebay, or even sell on Craigslist. These are some fairly simple ways to build a little extra savings on the side without much effort. For example, in one week, I listed old books and movies on an auction website and profited over $50.00. Now, that may not seem like a lot, but it will buy one of my children a good pair of shoes for the spring!

EDUCATION

If you find yourself suddenly out of work, why not go back to school? Many moms think that they just cannot manage school and a household. That is not true! The truth of the matter is, you can really do anything you want to. Make sure you do not allow yourself to get stuck in a rut. Expand your horizons and explore your educational options. I have been pursuing my collegiate education online for over 6 years now. I had gone to school in the traditional setting but once I found an online program that allowed me to complete my BA while working a professional job, I jumped on the chance. I received my BA from an actual, honest-to-goodness university that had an online section. Now, I am doing the same thing for my masters through another reputable New England university.

How do you pay for it? There are many grants and scholarships out there. Undergraduates have a lot more available to them in the way of obtaining money for school, including the Pell Grant. Take advantage of it if you can, I didn't because I wasn't aware that it existed. However, I was able to use GI Bill benefits from my military service. For graduate programs, you may be a little hard-pressed to find money, but you can use Financial Aid. I find that it is a little more readily available than it was for undergrad. I think this is because some schools allow direct loans to you.

BE POSITIVE

Don't worry about what is going to happen tomorrow! Live in the moment as hard as it may seem. If you allow yourself to be depressed, you will affect your entire family. Try to remain positive and remember that your situation is only temporary. Before I know it, my kids will be in school and I won't have to worry about daycare expenses and/or what type of job I need to make ends meet. Life is too short to stress about things you cannot control.