Last month (June):
Years left: 6.25
P =$899.71, I = $314.69, Escrow = 613.58
This month (July):
Years left: 6.08333
P =$905.93, I = $308.47, Escrow = 613.58
One month’s prepayment savings: $2.66
This is probably the last big prepayment until DH brings in some money.
DH has been unemployed since June 3rd.
Week 1 was spent dealing with last minute paperwork with the old job, they needed stuff from him for their accreditation, he needed stuff from them for retirement. We switched him over to my health insurance, and so on. He also changed his mind about how to do the webhosting on his new webpage possibly 20 times. He worked on his webpage. Also during week 1 I was sick and DH did some ferrying of DC1 to visit relatives. And he helped me out on a project.
During week 2, DH was sick. After he got better, he did some networking to ask about local accountants, lawyers, and so on. He changed his mind several times about whether or not to hire for each. He also did a lot of yardwork and fixed our sprinkler system.
During week 3, he worked more on creating an LLC. This involved a lot of reading websites for little details like, what address should we put on the form and are we willing for our home address to be public and so on. He finally made it to one of the networking happy hours. He also did some programming on his game and some mulching. Dinners were good this week.
During week 4, he called the place that tells you if you’re likely to have a trademark infringement with names. Then he decided on a name and mailed in his LLC paperwork. He went to the other local networking group and enjoyed it tremendously. He crossed off several more items off his “around the house” list. The Bermuda grass is still winning, but many battles have been fought. He programmed and blogged on his new professional webpage. People have been talking to him about potential full-time jobs both here and on the coasts, though he’d rather do contracting, but we’ll see what happens.
So a relatively relaxed month. Given that we normally don’t get paid in the summer and I’m getting summer money this year from grants, we probably won’t notice any monetary impact of the job-leaving for almost a full year. And who knows, by that time there may be income.
I do worry a little bit about potential travel. One of the guys DH networked with earlier this month is gone from his family every week for 5 days a week and only spends weekends at home. We don’t want that. Some travel, sure, but not all-the-time travel. Might as well get a full-time 9-5 job in the city if that’s the kind of flexibility involved in contract work.
So a quiet update on month one of single-income and DH’s self-employment. What I really want to talk about though is the relatives, and how they’re impacting our finances, but for that you’ll have to wait another week or so.
Any questions about DH’s self-employment? Anything you’d like me to cover in the future regarding it? Since it’s me and not him writing the blog, I can’t go all Retireby40 or Club Thrifty on the topic, but I can totes ask questions and stuff.