My wife is self employed. I recently became self employed right after maternity leave.
I specialize in indoor air quality, building sickness, and general commercial HVAC service. We were right on money as it was but it was ok because I had big-time service contracts coming up that would hold us off for 6 months in case I got no more business after that point. She agreed it was wise.
That was about 2 weeks before lockdown, 90% of my business got shut down. I had 5 wedding and events businesses , and 2 chain stores 20 stores total that were non essential.
Luckily during that time , I was able to collect unemployment from my previous year of working for a company.
Starting last month when things started opening, all my business came back in one shot and I pulled in over $28,000 this month in profits. We were so behind on our mortgage that I had to dish out 12,000 to catch up, and another 7 to catch up on all our health Insurances. Work is piling on and I made an addition $8000 last week. I was able to catch up on everything between all our expenses and even cleared off hearty hospital debt. I'm left with only $4000 , but more business is rolling in, I'm booked for the next 2 weeks and if all goes as planned I should be able to clear out all of our credit card debt by the end of the month with about $8000 left over.
Keep in mind, my wife averages $120,000 after taxes.
Our monthly expense is about $11,000 between her business expense, mortgage , car payments, insurances , baby sitters etc etc etc.
I'm on a really hot pace right now, so I thought it would be nice to get something very nice. I always wanted a nice wood slab table but I reluctant to spend $1100 on on, but recently I stumbled upon a coffee table version that could be converted to a table for only $200! And it's just the right size for our breakfast table. The conversion to table is being done by an expert wood worker for only $200 ! It's also has resale value upwards to $800. It's made of redwood burl which is illegal to chop down in areas now. So it's highly sought after.
I used to buy and sell items alot and was pretty good but it was never enough to live off of securely.
When I told my wife about it she freaked out about money. Kept bringing up bills bills bills, but I kept reminding her how good we are doing and showed her bank statements . I didn't even have to do that as she witnessed me pay off huge debts recently but I did it to make her feel at easy.
I figure if we ever did end up in a bad situation then we can resell the table for way under market and still make a profit off it.
Seems like a wise investment to me. I would understand if I spend $4000 on a table. I guess that's not so wise. But we are talking $400 out of double digit thousands I'm making.
How can I explain we are doing good enough to spend a little on ourselves? I'm starting to think I'm going crazy and missing something she sees.
Based one what I'm saying, are we in a good enough position to spend a little?
Submitted July 10, 2020 at 09:32PM by JuicySpark https://ift.tt/3iVkiIS
