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A New Chapter Begins

July 27th, 2013 at 04:09 am

After a final last ditch effort with the CEO of the company calling me, the tutoring center is definitely closing on Wednesday. He really wanted me to buy it and I told him I would need them to cover everything for three months because we have so few students. He also wanted me to sign a 10 year agreement. No way!

I didn't waste time and met with my friend/co-worker yesterday afternoon and there is a plan in place for us to tutor the remaining students at the library. We will make calls this week. I don't anticipate losing much income and possibly none at all, but I told my husband we are on the emergency budget for August.

1. Savings is cut to $15 per week (can be cut altogether if necessary).

2. Cut weekly grocery, gas, etc. budget by $15 (It's already quite low so can't realistically cut much)

3. I hate this, but put student loans back on deferment.

4. I am ahead on the car payment so I can pay as little as $150, but will see where I stand on the 22nd when it is due. I usually pay $400. I am hoping to pay at least $200.

I am due a paycheck on Monday and have one more coming in two weeks. I am going to ask if I can get paid everything so I don't have to worry about that last check. My boss is a nice guy, but I fear he is in huge financial trouble and worry the check will bounce or possibly not even get paid.

I am going to spend today catching up on other work I put off with all of this fiasco. I hope everyone has a great weekend.

3 Responses to “A New Chapter Begins”

  1. Joan.of.the.Arch Says:

    Does the tutoring agency contract with the public schools or directly with parents/students? In my area there are ~many~ small tutoring agencies that contract with schools. Evidently, very little is required to set them up [here]. You might be able to start your own tutoring agency and make it as small or as big as you care to. No need to take over someone else's business mistakes, certainly. There are franchise agencies, too, if you'd want to just buy into a system.

  2. nhgirl1970 Says:

    I was part of a franchise. I couldn't afford what they were asking. We contract directly with parent. For now we are seeing how it goes obtaining the current students as part of our own tutoring business. We will work at the library until we have enough business to open a small office.

  3. debtfreeme Says:

    Glad to hear you were able to make a decision. I hope you and your colleague will be very successful!

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