How can we make money work?

[mummatoreds]

I am a stay at home mum with a just turned three year old and an 8 month old. We manage to have days out some weekends and spend a lot of time with family but we really can't make ends meet.
My dp is an electrical contacts manager and is on good money so I'm not entitled to any help and his hours will make it extremely difficult for me to get a job. We lived with family until last year and now this is not an option due to having another baby.
My dp is miserable in his job (bordering depressive) and wants to quit management and go back to being an electrician for the same company but it means they will no longer pay for his travel (£140 pw) and take a pay cut.

I have no idea how we're going to cope, but I know he won't be able to cope if he was to stay management at his work.

Has anyone else been in a similar situation and can offer some advice because I'm in a catch 22 and I don't know what to do

Tia xxx

If he goes back to his old job and gets a pay cut could you get any help ?
Also , would it mean different hours so you could maybe get a job ?

Mrsw2
His hours would still be the same, and no I don't believe I'd be entitled to any help still unfortunately, I think it would make us just on the threshold for not getting any help x

If he changes job will you be able to get a job?

Lazypuppy
No, his hours are the same and would be working for the same company but in a different role, he leaves the house at 6am and gets home at 8pm so it's a really difficult working situation

Personally, I couldn't put up with those working hours sorry, they are ridiculous. Deal breaker. Thats not what i call a relationship, you never spend time with him and all childcare falls to you.

Compromise, he needs to do a different role/or agree different hoursthat enables you to also work. Fairer split of work/childcare etc and leaves you time as a family in evenings

You’ll need to pick up a skill and work from home.

Well surely he just goes self employed, he could earn really good money for less hours.

Perhaps we could make suggestions on lowering your outgoings if you told us about them.

Could he look for another electrician's job closer to home and/or with more standard hours? Being out of the house 14 hours every day is ridiculous unless you are a 'live to work, big job with megabucks salary' type, which he isn't.

He could try building site work via agencies if he can't find a permanent job, there's usually plenty of work available. Over the summer there will probably be holiday cover if nothing else, but that will help him get a reputation and hopefully a longer contract.

Why doesn’t he work as a self employed electrician? Firstly on day rates on sites then as he builds up clients he can stay a company.

I’m going to be honest here- I’m not entirely sure what you mean financially as you don’t describe your outgoings but it sounds as though you can’t afford to live in your own property with your husband working full time. An electrician is the highest paid and arguably one of the most desirable trades, and I can’t see any reason he should earn so little unless your outgoings are very high.

Which is fine, but you need to have an idea how much money you need if the problem is high outgoings

To add to the good advice above about your DH's income/job, you may need to go right back to scratch with your finances/budget and look at where you are spending money. If you can post all your outgoings here, or better yet, over on the money saving expert forum, there may be some ways you can cut back. There are some useful resources on MSE including a very good budget planner tool

The bottom line tends to be that if you can't make ends meet, either you increase your income (preferably!) or reduce your outgoings. Obviously how drastic the reduction has to be, depends on the size of the gap, you don't say much above about your lifestyle, some people are able to make ends meet simply by cutting back on expensive items like cars, holidays and by living more frugally e.g. cancel gym membership and TV subscription , shop at budget shops, buy second hand clothes etc. But if this isn't enough, perhaps you need to look at your housing situation - usually the single biggest expense for most aside from childcare - I know you say living with family not an option atm but can you look at a cheaper area to live or a smaller property (sorry if this isn't possible, hard to tell from your post). This could just be a temporary measure until kids are in school and you may be able to pick up some part-time work, and/or your DH is able to get better paid work?