A Redditor Asks If She Should Leave A Secure Job To Get Out Of Debt Before Starting A Family: 'Right Now We Don't Feel Financially Stressed'

Switching jobs can be stressful, but if you job hop correctly, you can end up with a higher salary. This strategy can be beneficial in the long run, but it's not easy for everyone to take the leap. Making the switch gets even more difficult if you like your current job.

A speech therapist in the healthcare industry recently turned to the Dave Ramsey Reddit community. She enjoys her boss, co-workers, and job. However, she has an opportunity to make more money by getting into travel therapy. 

"Right now, we don't feel financially stressed," she stated.

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However, she also owes $180,000 in student loans, and her fiance has a $42,000 student debt. She pays $2,000 per month toward debt, while the fiance pays $1,000 per month toward his debt. The couple has low living expenses right now, which will get much higher when they start to raise children.

It's Worth Job Hopping If The Right Opportunity Comes Along

The Redditor can earn more from travel work, but a good job has to come first. Even though the speech therapist enjoys her job, it's still good to find a higher-paying opportunity. Her co-workers may not stay at the company forever, and if she leaves on good terms, she can always go back once she makes more money.

Now is the time to make as much money as possible. The couple is squaring off against more than $200,000 in combined debt. They are living frugally, which is helping them make the current payments. The couple pays $900 per month for rent and utilities. However, it will get more difficult to live like that when they start a family.

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Take A Long-Term Perspective

The Redditor mentioned that she wants to start a family in the next two to three years. That's enough time to make a big dent in the debt. Other expenses will sprout like weeds when they start a family. While there are many joys of starting a family, you have to prepare for that reality.

Instead of thinking about how life is now, think about how you want it to be in the next 10, 20, and 30 years. Going up the corporate ladder and growing your career makes it easier to boost your income. It's also important to note that many wives want to spend more time with their children when the time arrives. Working harder now can make you more available for your children in the future.

It's also worth noting what type of work the fiance does and how much he can advance in his career. He might be able to find higher-paying work that allows him to get rid of his debt sooner. Then, he can use extra money to chip away at the principal on her student loans. 

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Hunker Down When Your Current Income

The Redditor also mentioned that they make $120,000 per year after taxes. While $900 per month on rent and utilities is a great deal, some commenters suggested that they cut down the expenses even more. 

"Live on $48,000 per year and pay it down in three years," one commenter suggested.

The couple already spends $10,800 per year on rent and utilities. The remaining $37,200 in this equation comes to $3,100 per month. They still have to buy essentials like food and water, but they can trim down on other expenses like travel and entertainment. The Redditor doesn't break down how the couple spends money, but this is a good time to be aggressive with non-essential expenses.

Getting out of debt is the priority. It can mean taking on a higher-paying job, and it's great to capitalize on an opportunity if it arrives. However, it's just as important to review expenses and see how much the couple can save. 

Putting the remaining $72,000 toward student loans each year can get the couple out of debt within four years. Then, they will be in a better position to raise a family with less financial stress. 

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