I’ve been saving money for no particular reason. I’m just a saver and so I did my best to squirrel my pennies. I clipped coupons, I searched for bargains and I stayed out of stores. I sold unwanted items on eBay and promised myself to limit future purchases of items I do and did not need.
I never tapped into that money. Once it crossed the threshold from checking to savings it never crossed back. That’s the way I like it and that’s the way I intended to be. I figured I would tap the money once I reached financial independence or retirement, whichever came first.
But then, one day, back in October my son was born and I decided to rethink my plans for that money.
I previously carried health insurance through my employer so with my job loss comes a $1500 monthly COBRA bill. That means I not only lost my paycheck, but now owe an additional $18,000 in medical premiums each year! (My husband is self employed and all of the policies we’ve found to date have similar costs.)
I am now considering staying home with my son and plan to use a portion of the money my husband and I have saved to pay our monthly medical insurance bills.
I know people who drain their savings to buy their first home. I know others who drain their account every six months or a year to travel the world. So why is it that I feel guilty for using the money to stay home with my son?