Hobson's Choice?
Well you're talking about cutting your income in at least half. So do you have a nest egg or can you trim your spending by at least half without affecting the quality of your life and while still allowing for unforeseen expenses?
I think you've had a couple good suggestions to 1) see how you do survive on $750 and 2) travel together. I realize you now have a 13 year old in the house, so the second might not work or may need to be worked around.
Personally, my instinct in this economy is to hold onto what works. I don't see a lot of second chances right now, and I have friends and students who have been looking for good work for some time.
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"In the depth of winter, I finally learned that within me there lay an invincible summer." ~ Albert Camus
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