Less than a generation ago, stay at home moms were the rule rather than the exception. That has changed as more and more families rely on more than one breadwinner. Today, the prevailing thought is that both mom and dad need to work to make ends meet, or least, to afford the lifestyle they want. There are, however, still many stay at home moms.
This personal bankruptcy story was posted on the internet in May of 2011, “My husband and I are filing bankruptcy today after several months of preparation and waiting to have the money to pay the attorney. We are looking forward to no more phone calls and a fresh start, but I am very nervous about one major issue. We are surrendering our house of 12 years, and the biggest concern for me is timing. How do we move and find a suitable home to rent? With kids still living at home, I’m hoping we can find a landlord who will take a chance on us. My husband is working but is making about 40% less than his previous job. He was laid off and it took almost a year to find another job. I am looking for work, but have been a stay at home mom for many years and it’s proving very difficult to get back into the workforce in this economy. We can’t really talk to anyone about this, so thanks for letting me share my anxiety and I’m hoping the next few months will prove to be better than expected.”
This stay at home mom feels she needs to go back to work to account for the 40% her husband lost when he was forced into a new job. This is a common story in our current lagging economy. Although the woman feels the need to support her husband and family, a case can be made if the cost of her working will benefit the family. Expenses for her to return to work may include: education, retraining costs, child care, uniform expenses, and automobile expenses.
There are also advantages for being a stay at home mom. A stay at home mom is available to deal with the family’s everyday problems. Whether this mom should return to work may also depend on the age of her children. There are a lot of tough decisions which need to be made before deciding whether or not there should be two wage earners in the family.
If this family does not change their old habits and learn to live on their current income, they will be unable to file for another Chapter 7 Bankruptcy for another 8 years. So, whatever they decide, they need to start making sound financial decisions.
There is no easy way out of a bad financial situation. Whether you are a stay at home mom or a working mom, bad financial situations can happen to anyone. Only hard work and determination can help overcome a financial crisis.
If you are in a tough financial situation, filing bankruptcy may be an option for you or your family. Bankruptcy laws can be complicated, and you might need a bankruptcy lawyer to help you evaluate your financial situation.
If you need relief from the stress of debt and you live in or around the metropolitan area of Jersey City, New Jersey, contact us at www.betterbankruptcy.com .We will help you find a bankruptcy attorney in your area that will help you with any questions you may have on bankruptcy law who will answer your bankruptcy questions.
by Chic Sales
Chic has been a content writer for the past two years after spending numerous years as an Educator, Christian Minister, Coach, and Business Entrepreneur. He is a specialist in contractual specifications and detail, writes fictional novels, religious works, short stories, and has been published in content writing for immigration law, traffic law, bankruptcy law, and divorce Law. He has also had religious works and short stories published. Chic is a native Texan and that has held numerous certifications and licenses from a wide variety of fields, including a Series 7 and Series 63, which entitles him to speak authoritatively in financial matters. He holds a BS Degree from Texas A&M in Canyon and an M-DIV from Southwestern in Ft. Worth.
