is this a good idea?

lcf415 · May 2015

I'm a SAHM now, and I really want to get my CNA license to help contribute to my family's income. Money is pretty tight and I feel like we are just drowning in debt. We just started following Dave Ramsey so I feel like we are on the right path.

Anyway...I completed the training before, passed my licensing exam and worked up until I had my daughter who is now 5 years old and will be starting school in August. I let my license expire and now I'll have to complete the training and take the exam again. I eventually want to go back to school to be an RN, but right now, this is my best option to bring in a paycheck and work towards my goal. We do not have the funds at the moment to pay for the CNA training. CNA jobs are in high-demand here, and the next class run in at the end of June. It is 3 weeks long. Would it be foolish to borrow the money from my parents and pay it back with my first couple of paychecks? I am trying to sell anything extra that we have that we don't need or use to help fun at least part of the class. I'm hoping I am lucky enough to be able to sell enough items to fund the class myself, but I'm not sure I can do it quickly enough.

bparkhur · May 2015

How much is the class? How much would you make as a CNA? I'm just wondering if it would make sense to get another type of employment that doesn't require training. As a server, for example, you could probably make better money; however, the hours can be strange.

lcf415 · May 2015

I thought about that. However, with the CNA license it will put my foot in the door for a nursing job when I finish my degree. I plan to go back to school next year once our income is more stable. The class is $1000, the certification test is $75, and I'll be bringing in an extra $1500 each month. If I add that to my husband's income, we'll be able to get out of debt in under 2 years, maybe sooner.

Xstatic3333 · May 2015

Now I'm not strictly opposed to borrowing a little money for education. I have SLs myself. However, I might be nervous to borrow money if things are already very, very tight for you guys. I'm also not a fan of borrowing money from family. Since it is only $1000, I'd prefer to borrow it from a credit union if anything. I also think that technically, if you're following DR's plan, he'd probably say no to the borrowing.

Is there any chance you could take a few quick side hustle jobs that would combine with the selling stuff to make $1000? I have a friend who finds one-off jobs on Craigslist where she sometimes makes a couple of hundred dollars for a night of catering. Another friend makes $100-$200 a weekend timing road races. Trying to scrape together the $1000 would be my preference over borrowing in your specific situation.

als1982 · May 2015

I agree with the others, I'd find some other temporary job to help you save up the $1,000, especially since it seems like the CNA course is offered frequently throughout the year and the demand for the job isn't going away anytime soon.

Another reason I'd be slow and thoughtful about getting it would be so that you have the flexibility to find an employer that offers educational reimbursement and/or nursing scholarships. The health care facility where I work does both, and working there you could essentially have your nursing degree paid for by the hospital in it's entirety. Also, I know its longer and more work, but do think about a BSN versus just an RN. RNs degrees aren't looked as highly upon and many places are starting to require a BSN anyways. You should be able to take your Gen Ed classes at a community college for cheap.

ETA: And whatever you do, don't take a loan from family!

jjbmstinco · May 2015

Lurker popping in...

In our area, we have the same high need. The local place will pay for the training and the exam if you sign on with them first. I would call the places you are interested and see if that is a possibility.

BugNGator · May 2015

I'd borrow the money from your parents if you have a good relationship with them and don't think it would be weird or cause strain on an otherwise good situation. Have you looked at jobs and the schedules you would actually have? Would that $1500 take home get eaten up by day care costs since you won't be a SAHM?

Also, just as a pet peeve. RN is a license BSN is a degree. Anyone who sits for and passes the national exam has an RN license.

brij2006 · May 2015

I would not borrow the money. We're on the Dave Ramsey plan as well, and one of his first rules is to never borrow money for anything but a house.

Personally if this were that big of a goal then I would do was jjbmstinco advised and call around to see what the options are to sign on somewhere first. Or maybe they offer the class themselves.

Otherwise I would get the budget down to absolute bare bones to save up the money. If that means you don't take the next course until September, then so be it. Sell everything you don't need, live on nothing, and get this money saved up if it is truly what you want to do.

hoffse · May 2015

Well I would borrow it, but my parents are capable of treating this sort of thing as a business transaction. H and I refinanced some of our higher interest loans from law school through them - we are savings about $20K in interest, and my parents have a very safe investment with a decent return for their age (they are approaching retirement). From everybody's perspective it's a win-win. I just send an autopay to them every month, and we don't talk about it. They've never tried to use it as a way of controlling H and I, and we've been paying them back for about 3 years now.

If your parents would try to attach strings to it, then I wouldn't go there. It's a very small amount of money compared to the drama that could ensue. On the other hand, if they are capable of being business-like, then I don't see an issue with it.

I'm not a DR follower, not even by a long shot. I think taking on debt when it will enable you to immediately increase your earning potential is fine. I think the bigger risk is mixing family with business, and only you can decide whether that's a good idea or not given your family situation.

is this a good idea?

Re: is this a good idea?

Choose Another Board

Search Boards