How Do I Navigate the Scary World of Self-Employment?

[mistym]

Hey guys, I guess I need a little inspiration so I figured I would come to you guys for that!
I decided not to go back to work and stay home with my almost 1 yr old (here in Canada, Mat Leave lasts a year and the government assists you every month - my last government cheque is in 2 weeks). I want to do PC and babysitting full time. As a person who always had a steady paycheck coming in as well as being the breadwinner, this is very scary for me as now I am looking at fluctuating paychecks, figuring out taxes etc etc by myself. So last night we sat down and worked out the budget and figured out what I needed PC and babysitting to bring us and ok, the budget was tight but manageable. Well, today I get a phonecall from the mom of of the child I was going to babysit and it turns out she is having second thoughts - so this has thrown me into a tizzy! The unknowns are killing me. I do have faith that it will work out but being out there, doing it for myself is Scary - with a capital S.

I know it will be fine, but as a planner, I am scared and stressed as to how the ends are all going to meet.

Anyone else out there been through the same situation?- how did you manage to keep from pulling all your hair out???

Thanks guys - I needed that

Misty

 

[janetupnorth]

Never been in your situation - but hope it works out well for you!!!!

 

[Jennie4PC]

Misty,
When I decided to quit working when DD#2 was born we were literally cutting our income in 1/2 I was so scared but we just put our trust in the Lord and he definitly looked out for us. Since I quit my DH has had 2 new promotions Everything seems to work out the way it needs to work out. Good Luck with everything

 

[KellyTheChef]

I don't have an answer for you, except to say that (from experience) I know that you can live on FAR LESS than you think you can.

10 years ago when my hubby and I got together, we both made about the same $$ per year. We made the decision for me to first cut back and only work part time so I would be home when his kids (from a prev. marriage) got home from school. Then, I cut back even further....Then, totally quit almost two years ago when we had our first child together. God has blessed us in other ways financially. Hubby is teaching a PT class at a local college and bringing in extra $, my PC business has always brought in "just what we needed" for unexpected extras, hubby has gotten really nice raises, etc.

That all being said, I am a "planner" too and I know how scary that is!!! I would just pray about it and see what happens. I still have to (daily, monthly, whatever) give over my financial worries to God. That is one of my biggest struggles.

Keep us posted! I hope it all turns out great for you!

Staying home with my little guy has been the best! I LOVE the time we get to spend together!