Creative jobs + kids

[texastumbleweed]

Hi.  My husband and I both have relatively successful careers in creative jobs.   We enjoy flexible work hours and doing jobs we love out of our home, but with several young children, we aren't able to put very much aside.  We have a little bit of debt (just under 2k), no mortgage and a pretty pared down lifestyle.  I'm sure we can cut some corners on spending, but we are already pretty good there.  Our biggest upcoming expense is upcoming school and we are pretty unwilling to budge on that issue.  Our kids will go to a unique private school that is exactly what we want and at least less expensive than most private schools, but still about 6k a year. 

The problem is with increasing our income.  His income can go up wildly. He has done it before (hence no mortgage) and is well positioned to do it again, we just don't have a ton of control over that.  He is happy in his job (and didn't go to college so switching isn't on the table, plus he is in his 40s.)  We consider my income supplemental since I stay at home with our three children.  Putting our kids in full time care while getting a job would pretty much cancel out any income I could potentially earn, plus I like staying at home and is a priority until the kids are school age.

I guess my question is mostly how to increase my income with my children at home.  My daughter will start preschool soon and that will cost more.  We have the money already set aside for one year for her school.  I will be able to work more once all the kids are in school but it will mostly go to offset their education.  I could probably bring in about 40k working full time once they are all in school in three years.  So we are pretty much looking to my husband to bring in the bigger amounts before then.  Of course if we really can't keep up our kids will go to a public school.  Either way, the question of putting more aside is there.  It seems like mr. money mustache hinges on getting better salaries and a lot of that is out of our hands.  He can do really great work and can make an extra 10k or something crazy like 100 or 200k!  We also don't currently have the money to hire a nanny or babysitting to help increase my work right now.  I do my best now to get work done at night.

I feel like our options are limited and would rather not feel that way.  Any suggestions?

[expatartist]

Your options are limited because you're limiting them. Your major limitation: paying for private school = a large fixed expense. As freelancers with a family, you should be limiting your fixed expenses to the bare minimum, and/or one of you should get a job which covers them.

Sincerely, a former (and someday, once again) freelancer who has taken a full-time creative gig for the steady savings and associated benefits which will lead to FI.

[texastumbleweed]

Thanks for your reply. I definitely think that is the case about the schools.  However, school hasn't begun yet, so if I were to go back to my old job as an art teacher where I made about 40k, my kids would have to be in full time care.  That is about 2100 a month with a nanny at $15 or about $2500 for the average preschool in our area.  After taxes and childcare, we would be right about where I am now making some money on the side, but doing the childcare myself.  The teaching job was the only one I had before children, so I'm not qualified for a job that makes much more than that as far as I can see. 

Are there jobs that pay more than 40k with an art degree and no experience beyond teaching?

[expatartist]

Is this private school an option for work - either teaching art, or in an admin position - and would they provide tuition reimbursement? That's how my mom covered private school tuition for my brothers & sisters. Saved our family ~$160K between the 4 kids who took advantage of that option.

[texastumbleweed]

I love the idea of homeschooling in theory, but I definitely think children learn a lot from being with other kids besides their siblings.  They play differently etc.  Plus, I really enjoy my work and would be the one doing the homeschooling and I'd rather not.  If school was every tricky for one, I would homeschool in a second, but at this point it isn't high on my list.  The teachers at the school we will send our kids to are so trained and the room is supplied with all the tools, etc.