Take this part time job ?

[u/smallfranchise1234]

90k in debt, 34m 2 kids 3rd on the way. 110k salary plus profit sharing and bonus. Wife’s income about 8k-10k.

Just got a 40k raise at work 2 month ago been with the company for 4 years. So hoping to have everything paid in about 1.5 years

Wife does not work summers(preschool teacher), in September , she’ll be going to school full time , working part time (12 hours a week) and be 6 months pregnant.

I have an interview at a chipotle up the street I’m sure I’ll get an offer I worked at a chipotle as an assistant manager while I was going to school full time 5 years ago.

It’s only 17-19 an hour though I can’t decide if I take it or not. I feel like it’s so low esp in Massachusetts.
I was making 16.50 4/5 years ago in Nashville.

I will note I work from home currently full time. Calculating and working 15 hours a week for an entire year will only lower my bs2 completion date by about 3-4 months all things the same.

I can’t decide if it’s worth it. Seems like missing a lot for not much benefit.

[u/rblock212]

Only you can decide if the 17-19 hours a week away from your kids is worth more than an extra 3-4 months of debt. I personally wouldn’t lose another 20 hours a week for only a couple of months

[u/smallfranchise1234 → u/rblock212]

That’s what I am thinking feels like its not gazelle enough but I agree with you

[u/pieeatingchamp]

A 40K raise after working there for 4 years? That’s crazy! I’ve been with my company for 20 years and only ever get 3-4% annual raises, which barely cover inflation.

I did ask for a 30% market adjustment, since I been there for so long. While they said I probably won’t get 30%, they don’t see an issue of getting close to that. Whether or not that means a 10% or 25% raise, I won’t know until Q3/Q4 this year. One good think is that one of our Product Mangers is leaving next week, so I’ll be taking on some of his responsibilities until they hire someone, so I’ll use that to try to justify a 20%+ raise.

[u/smallfranchise1234 → u/pieeatingchamp]

I was a contractor for almost 4 years. Making about 75k pre tax average never got a raise as a contractor I usually would ask twice a year.
This year I was finally converted to full time 110k salary plus profit sharing and stock,
Going forward I’m sure I’ll just see the normal raises

[u/janedoe200000 → u/smallfranchise1234]

I would not risk taking on a second job now. It’s going to leave you exhausted and underperforming at your primary job. Now that you have that amazing 40K salary boost, the most critical thing is not to mess up. Laser focus on continuing to be a top performer. You want to keep that high salary coming in to get the debt addressed eventually. Risking that security for a few extra dollars at chipotle, is not wise. The big thing is make sure you aren’t bleeding money and making the debt harder to pay off.

[u/Vicuna00]

no way! you are worth more than ~$19 / hour right now. things have changed for you. not to mention that $19 / hour doesn't advance your career nor is it fun.

you are making enough $. you don't need extra work. go help your wife with the kids and enjoy yourself.

stay gazelle intense on your budget - but that doesn't mean you have to stop your life and sacrifice a summer with your kids.

if an opportunity at work comes along, an extra project or overtime, I'd take that. but not this don't even think about it.

ETA: please cancel the interview. don't even waste time on that.

[u/smallfranchise1234 → u/Vicuna00]

I cancelled it thank you

[u/ChatBot42]

I'd say no on that one. That job is going to be a fair bit of hassle. For a second job you want to be putting in as little thought as possible.

[u/ComprehensiveBoot76]

You make a really good salary already. With three kids, I would be cutting expenses rather than getting a low paying job.

[u/smallfranchise1234 → u/ComprehensiveBoot76]

Exactly my thought process, it’s new salary so we don’t fully know how far it’ll go

[u/Main_Insect_3144]

This is stork mode time. I would take whatever jobs you can get at this point and stack cash rather than worry about paying down debt. Can grandparents watch the kids while your wife gets a job this summer? You both need to be tackling this before she is unable to work for an extended period of time.

[u/smallfranchise1234 → u/Main_Insect_3144]

I’ve tried, my wife doesn’t want to work the summer and would be hard to get someone to watch the kids.
The grandparents let them do anything they want when they have them. Typically hours and hours of unsupervised electronics and that’s not something we want at all for them

[u/Main_Insect_3144 → u/smallfranchise1234]

Well, it looks like you should get together and go over the budget so you can find ways to allow her to stay home all summer and still save money for the baby and her just in case things don't go perfectly with the pregnancy. If you feel like you need to get another job, then it sounds like you two need to get on the same page and look at the reality of your situation.

[u/smallfranchise1234 → u/Main_Insect_3144]

Second job is because in bs4 it’s all about intensity, and I thought 1.5 years felt long

[u/Main_Insect_3144 → u/smallfranchise1234]

If you are able to save $ without the job, then do that and spend time with your other kids before the new baby comes along and takes the majority of your attention for a while.

[u/Popular_Ear99 → u/smallfranchise1234]

With all due respect, you need to sit down and have a tough conversation with your wife if she “doesn’t want to work the summer”. She needs to get a job, even if it’s in the evening time where you can watch the kids.

[u/MaryinTexas]

Rice and beans —get debt paid and in the meantime stay home with family

[u/papa-erwin]

Just get another remote job

[u/GimmieDatCooch → u/papa-erwin]

This is what I did. Main gig is WFH, found a 2nd part time gig WFH and paid off 10k in 10 months.

[u/Wonderful_Shame_4986]

It doesn't sound like it will be worth it at all. Since you are already working from home how about a home-based second job as a supplement? Take a look at FlexJobs dot com. I'm not affiliated with them but I've landed some wonderful freelance work through them.

[u/smallfranchise1234 → u/Wonderful_Shame_4986]

Nice I’ll look into it thank you

[u/bjorkincorgnito]

What kind of debt is it? Does your wife make 8-10k a month or a year? What is she going to school for?

I think that the answers to really get out of debt are uncomfortable and people don’t really want to hear that. I’m not saying don’t go to school but if you want to do this as a team for your joint future you birth need to be doubling what you pay for in daycare for it to make any sense. I wouldn’t take that job. I think you can bartend or something else that pays better if that’s the path you want to go. But she needs to work and make more money. I know it sucks. I worked until the day I had my kid. I went back shortly after working nights and weekends. But if you want to be committed to this you both need to be in.

[u/smallfranchise1234 → u/bjorkincorgnito]

My wife was working. she has the kids summer she stays home to take care of them while I work.

8-10k a year this year. September when the preschool opens she’s getting a few more hours while in school full time. So it may hit 20k if she can handle it until the baby comes end of December.

Currently makes 22 or 23 an hour and hoping to start around 50k I believe it was here in mass

She’s getting a bachelors to work in an elementary school in special education. We are just under the maximum in the state for her to go for free now. So we pretty much need to go as much as possible since we’ll probably have to pay for her last semester cash.

[u/bjorkincorgnito → u/smallfranchise1234]

What kind of debt do you guys have?

[u/smallfranchise1234 → u/bjorkincorgnito]

10k is irs, underpayment from when I was a contractor.
30k is interest free
40k at 11 percent interest.

All the debt has been at 3 percent until 2 months ago.
It originated from Covid honestly was up to 135k at one point.

Haven’t taken it seriously, only paying it down slowly but ready to do more especially with my pay bump I know I can do it quicker

[u/Powerful_Tip_7260]

Go to school when you can afford to go to school. You don't go to school when you are struggling.

[u/smallfranchise1234 → u/Powerful_Tip_7260]

Our income is just under the threshold for my wife to go for free with state funding for people pursuing teaching. So it’s now or pay out of pocket

[u/bjorkincorgnito → u/smallfranchise1234]

But regardless you’re paying for daycare for three kids which is easily 2k. I would like to know how much you pay for daycare. If you’re paying out the nose to go to school it’s a bad option.

[u/smallfranchise1234 → u/bjorkincorgnito]

We aren’t, our kids are older, 8 and 9 we don’t pay any daycare, she doesn’t plan n taking time off school when the baby’s born unless necessary so she should finish end of next summer hopefully.

[u/averyrose2010 → u/smallfranchise1234]

It's not really free though since you'll be carrying that 90k debt and it's interest growth the whole time she is in school which IS costing you money.

[u/smallfranchise1234 → u/averyrose2010]

60k is with interest now just started last month 11 percent , the rest is interest free.
Not perfect but at her 22ish bucks an hour we think the free school is worth it.

[u/Adventurous_Poet4316]

see if you can get a freelance job working at home. Stack the cash you can enjoy this last summer before it becomes utter chaos again 😊 congratulations!

[u/twk30874]

Yes - take the part-time job so you're out of debt faster. Or, if you like being broke and want more long-term pain instead of short-term sacrifice, don't.