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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Worried about cash depletion ... AIBU?

51 replies

PandaPacer · 16/12/2017 12:03

Apologies - saga!

My husband recently decided (with my complete blessing) to quit his well paid job and start up a consultancy business in his area of expertise. We relocated to a new town within striking distance of London and bought a house mortgage free with the proceeds of selling in London. It was a well thought out move and we have prepared with some savings to cover the period.

Eight months on however there is no sign of any clients on the horizon. He is networking lots and gets in front of quite a few businesses but nothing has come to fruition yet. I know he is working hard on everything.

It was my understanding that if no clients were on the horizon by Christmas that he would start looking for a job locally. When I mentioned this conversation to him yesterday he took it extremely personally. He denied ever saying this, he accused me of being unsupportive and calling him lazy. I never said this but I did say he seemed to lack a sense of urgency to get things moving - he was indeed burnt out I think after quitting. In eight months I have never once said a thing about money or lack of. I have just let him get on with it and trusted his plan.

This morning he was angrier than ever after thinking about it overnight and told me I was obsessed with money and need to see someone (counselor I assume he means) about it. He said I put money above absolutely everything else in life. I find this a terrible accusation but I will concede I do worry about finances a lot. I grew up in poverty with teenage parents and at one stage we lived in a caravan. Although he has been a high income earner for most of his working life, I've always worked part-time too as in the back of my head I DO worry about the "what-if" scenarios of relying on a man for financial stability. I have also held a tight reign on our finances over the years, which is part of the reason why we are in the mortgage free situation now. For this reason I watch the pool of savings drip away with growing dread.

Four months ago I got a part time job here to help bring in some cash, four mornings a week so it fits in with picking up the kids from school etc. It is a contract until May, and I have the option to go full time afterwards which I will of course do, but we would still be short in our outgoings.

We moved here partially for the lifestyle change and also so hubby could see more of the kids instead of working all the hours in the city like he used to. From a family perspective it has been a great move and he is around a lot to help out in the mornings and evenings, which was previously unheard of. He's a great Dad and husband in everything so I have zero complaints from that side.

AIBU to be concerned and to voice those concerns to him, or am I indeed too obsessed with the finances instead of appreciating the family life? At our current rate we have ten months until it's all gone - we've already cut out excess spending - that's so scary to me.

How long have others waited for their partner's businesses to take off?

Please be gentle, first time posting!

OP posts:
Notevilstepmother · 16/12/2017 12:52

He hasn’t brought in a penny to family finances for EIGHT months, and you haven’t mentioned it until now, and he is accusing you of being obsessed about money. I don’t think so.

If you were obsessed about money you wouldn’t have given your blessing to him to leave a well paid job and do nothing but smooze clients for 8 months.

I appreciate he reacted badly because he doesn’t want to hear the truth, but I’m angry with him on your behalf. How dare he blame you and gas light you. How dare he call you unsupportive when you supported the move and you are the only one bringing money in right now.

You say you have 10months saving left. I’d give him a deadline. Another 2 months to make the business work, then he needs to get a job.

PandaPacer · 16/12/2017 12:55

Is this really burnout/a breakdown disguised as a career change?

Painting - I hadn't thought of this, to my shame. He has worked hard for a long long time, you might be right. And he hated his last job very much, he has stumbled to the finish line.

I think I will force the discussion, and we will set a deadline for when he needs to start seriously looking for a job. And by May I will know if I need to start work full time.

BetteDavis - your reply was just what I needed today, thank you Star

OP posts:
SchadenfreudePersonified · 16/12/2017 12:58

He feels guilty. Hence his way OTT and disproportionate response

THIS ^

I think he must also be worried sick and very disappointed that nothing has come of his dream. He could also be dreading having to leap back into the rat-race if he can't make a go of this.

You mention that he is a good husband and father, and pulls his weight about the house, so I doubt he's just being arsey because it's in his nature.

chocatoo · 16/12/2017 12:59

I think that times are tough and companies are tightening their belts. Maybe a lot of companies have already got things in place to address what you DH is offering.

It is actually really early days to have clients on board but I think you and your DH need perhaps to take the view that it is a longer term prospect and look at how your DH can bring in more ££ on a part time basis whilst still carrying on with the existing business. Could he consider a contract where he works a couple of days a week for example? - if he was to do some contracting, that might also open doors for his business as he could make contacts who might be interested in his own business...
He is probably feeling anxious too so I think you need to pick your words carefully and try to be uber supportive whilst putting this to him.

MaverickSnoopy · 16/12/2017 13:01

From a practical perspective what else is he doing aside from networking? I work in Marketing and here are the things I can think of.

  • Set up robust website
  • Attend pitching events (look in the area and find out about business areas that offer these, often you can attend 5 minute pitching events)
  • Get set up on social media (especially twitter and LinkedIn if not already)
  • Have a look on MeetUp
  • Look on eventbrite for events to attend and also where he can run events to showcase his business

I work for a start up and they are based in a very collaborative environment where lots of other starts ups are based, they are always collaborating - he needs to contact some. Is he able to able for grants or is that outside of the scope of his work? Funding applications are very easy to deal with but they can take time. I'm sure I can think of more but I don't want to waffle on if he's already doing all of this.

Userplusnumbers · 16/12/2017 13:01

Starting consulting is hard. I'd be concerned that after eight months, what your DH is thinking off as networking, is actually just working for free.

I'd suggest he signs up with a freelance agency to guarantee a couple of projects under his belt, which will naturally generate more work.

ReanimatedSGB · 16/12/2017 13:07

(Disclaimer - this is not my field and may not be relevant) Does your H know much about data protection? I do some work in education (admin, I'm not a teacher) and I have picked up from talk in schools that there is a fuck of a lot of panic going on about the GDPR because there is a shortage of people who can do the necessary IT work. If he's competent at this, there may be a few local schools (especially MATs) who would be snapping his hand off...

PandaPacer · 16/12/2017 13:17

Reanimated I am so glad to hear that, he noticed the same thing and has just last week qualified as a GDPR practitioner after a long course. Fingers crossed!

Maverick thank you so much, yes he has set up the website (not sure how robust it is!), he's very active on LinkedIn but not Twitter. He goes to Meetups and has met lots of people there, but no takers yet. I mentioned to him a while back he should set up his own meetup in his area, maybe also combined with GDPR as per Reanimated suggestion. I never knew about the freelancer opportunities but just googled and looks good, I will pass on when the cloud has cleared (he's taken the kids to his brother's for the day).

Loving all the suggestions, thanks one and all Smile

OP posts:
Hoppinggreen · 16/12/2017 13:20

My DH did similar
After 2 years we ran out of money and he had to go Contracting. It was 2 years of absolute hell and made me quite ill ( hospitalised with suspected heart issues that were actually stress).
The worst bit was that my usually so lovely and reasonable DH wouldn’t listen to any perceived criticism from me about it at all.
We lost thousands of £ and a couple of years later we are still recovering despite DH earning a lot now
I feel for you OP, it’s very very hard but we discovered that being very very good at your job doesn’t mean you can run a business doing it.
My DH is highly skilled and sought after but he doesn’t have the skills to run a business
Best of luck, to going to be hard

AcrossthePond55 · 16/12/2017 13:23

I agree that 8 months without a single client indicates a business that probably isn't going to bring in sufficient income. But his reaction is way OTT. I expect it has more to do with male ego being based on 'success' than anything else.

But I do think 'some savings' is a relative term. Are you getting to the tail end of exhausting every penny within the next 6 months or are you looking at a huge savings balance and thinking you need to keep 90% of it for a rainy day?

I think you BOTH need to see a counselor since it seems that you aren't able to voice your concerns without him steamrolling over you, cutting you off, and putting you on the defensive. You need a referee in place so the two of you can discuss what is realistic as far as continuing his business as his main 'work activity' or if it's time to make it a 'sideline' and get a wage paying job.

Babyroobs · 16/12/2017 13:25

I understand your anxiety about money, I am the same. We are mortgage free and have savings but I am currently juggling 2 jobs ( badly) but can't bring myself to give one up due to worry about money. have you looked at whether you are entitled to any child tax credits. if your household income is under a certain threshold then you may be entitled. Savings would only be taken into account if they earn you over £300 a year in interest. if however you are in a Universal credit area you wouldn't be able to claim if your savings are over 16k. It might be worth looking into and might take a bit of pressure off you.

fastfrank · 16/12/2017 13:26

Op you sound really sensible. Chances are he just has a bruised ego.

Skowvegas · 16/12/2017 13:34

I don't think you're money obsessed.

I do think you need to ask him for a financial plan for the family for the next couple of years.

He needs to put it together himself. That isn't an unreasonable thing to request.

Viviennemary · 16/12/2017 13:37

It really wasn't wise to make such a massive decision and move when neither of you had a full-time job. And no clients in the start-up business. Savings quickly go down in these circumstances. But I don't think you're to blame because you supported his decision and it could have worked out. But it really was far too risky when he had no clients.

I think you should look for a job with more hours and he should also look for a job whereby he could carry on with his business in the evenings and weekends rather than do it full-time. You are right to have a sense of urgency as another six months could go by and you are no further forward and your savings have gone down. He is touchy because he knows deep down he's made a massive mistake.

specialsubject · 16/12/2017 13:38

Not all dreams work out and there's no shame in that. What is shameful is throwing a diva strop at being told what he doesn't want to hear. You re involved whether he likes it or not.

He needs to pull together with you, not tantrum. Not surprised to hear he is ex senior management - now he's back to the floor.

Ta1kinPeace · 16/12/2017 13:41

I'm self employed, as are many of my clients
8 months is not good.
If he's GDPR trained and the work is not coming in, he's doing something wrong.

You and he need to have a couple of "strategy meetings"
I find set menu Chinese restaurants are a good venue

what was his initial business timescale plan?
Which bits have worked?
Which bits have not?
What is he going to change during 2017?
What is he going to change in Q1 2018?
What is he going to change in Q2?
What is the deadline date for him to actively seek an employed post?

rookiemere · 16/12/2017 14:03

Does he know that you're planning to go full time ? I'm not saying you shouldn't work f/t but knowing that's what you mean to do may be a trigger to get him rethinking his plans.

If he continues to be unresponsive to talking about it, perhaps you could write him an email or a letter. Say what you've said here - that you love him, that he's a great DF - but you feel concerned that the money will run out in x months time and want to work out a joint plan to handle it.

NB - when the money runs out what does that mean ? Will you be able to stay in your house?

Is there anything you can do between now and May to bring in more income? As he's in the house you could get CRB checked and sign up for Sitters or take on another job elsewhere. I agree he should be earning income, but perhaps it will help to quell the anxiety if you're doing as much as you can to bring in more money.

kittensinmydinner1 · 16/12/2017 14:30

Actually OP I think you may be stressing a bit unnecessarily. For most of us, the mortgage is the lions share of the household expense and you don't have that. !

A whole host of people on here are SAHMs , this means a single salary is supporting their family (including mortgage) - admittedly these are usually higher earners. However OP doesn't need that sort of salary as there is no mortgage to pay, therefore surely her full time salary in May, will be more than adequate to support the family whilst DH gets his business going. This will still leave 5 months worth of money to support your family full time in savings, which will no longer be dwindling away as you are earning.
I am slightly perplexed by someone with such a tight grip on the purse strings not realising that your own economic resource could have been employed full time as soon as you started to worry. - although your 'buffer' is still much larger than most of us could dream of.

Time for you to step up OP. If DH has earned enough through work to buy a house mortgage free, for the family , within 'striking distance of London' whilst your children are still young enough to be at school then he has more than done his bit. Time for you to work full-time while DH takes the stress off and gets his business off the ground.

Don't really understand why it took you 4 months to find part time work when DH was already at home 8 months ago, but this is because I don't know how old your children are. This info will make a huge difference to the advice you are given.

NapQueen · 16/12/2017 14:33

Could he just do this part time? Doesnt sound like working ft at it is worth it.

You could then go ft and he could shoulder the lions share of home/kids.

NeverTwerkNaked · 16/12/2017 14:41

GDPR would be a really good niche for him right now, my friend is being headhunted pretty much daily because of her expertise on the legal side of this

Agree with others who have said you both need some honest conversations about joint responsibility for finances. Sounds like he has worked incredibly hard for a long time and enabled you to now be mortgage free. If he wants to slow down it might be time for you to step up.

Lanaorana2 · 16/12/2017 14:45

He needs to get a job. You know that, now it's going to be hard convincing him. You'll prob face his pride as a barrier to gainful employment, as well as the poss he may not fancy working again, but all these things will be easier to deal with if you get a job too.

Go full time - don't be dissuaded from bringing in an income.

I'm not suggesting that this is happening to you, or at any point that it might, but be aware that living with endless failed businesses and no money is pretty bloody. The longer it goes on, the less likely they are ever to work again. It is a worry, and I'd deal with the worry as an issue in itself - you'll feel better all round if you stay working yourself.

RunRabbitRunRabbit · 16/12/2017 14:59

I agree that he is almost certainly over sensitive and panicky about the business failing. I work with startups a lot and this kind of behaviour is not unusual.

My advice is to turn it back on him, in a nice way. Don't talk about money for now. Don't justify yourself. Don't let it be about you. It is about him.

The next conversation has to be about his feelings. He is feeling bad. It must be horrible to have this dream and plan that everyone knows about, that is looking shaky now. His reaction the other day shows how stressed he is. It isn't like him, etc etc.

Most of the time that's all the nudge that's needed to get the owner to open up. Tears and catastrophic thinking are likely. Be ready. After the floodgates open you can later have normal conversations again. I have seen it many times.

Gemini69 · 16/12/2017 15:07

He's happy living off the Savings... He's happy not working for someone else.... He's happy... and you've burst his happy bubble and brought him crashing back to reality.... Xmas Hmm

He's angry because you've embarrassed him into facing the reality... once those Savings are gone.. you're up shit creek Xmas Grin

LadyLapsang · 16/12/2017 15:24

The people I know who do consultancy are usually in their 50s or 60s and child free or their children have finished uni and are working. If your children still need taking to school, sounds like they are still quite young or you are providing a taxi service. I'm surprised he did not have at least one regular client lined up before he jumped ship. Given you are mortgage free, could you keep the show on the road long term if you went full-time? If that is the case I would just start looking for a full-time role. That would mean he would need to step up on looking after the children and the home - would he? This may be the impetus he needs to get work.

CantSleepClownsWillEatMe · 16/12/2017 15:32

Panda I agree that no clients after 8 months is a concern and he does need to re-examine his business plans. However I think you may need to consider whether your worries are more about lifestyle than poverty. Surely the roof over your head is the big concern for most people? You don't have that worry, you have an income and the potential to work full time.

If you can earn enough to cover food, bills, clothing and cost of getting from A to B (be it car or public transport) then surely you can allow him more time?

I do think some posters have been a bit harsh suggesting he's more or less indulging himself. You're clearly reasonably comfortable and I'm guessing that your earning potential is something more than minimum wage? I understand you don't want to have to be careful forever and I definitely get that sort of "awareness" that's always there having grown up poor but really it's not time yet to start feeling scared.