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Family vs. Career
Many couples are resigned to being a two-income family,
in spite of their desire to spend more time as a family. Before
you decide that dual incomes are essential, make sure to consider
all the costs associated with both partners working, such
as:
- Child care
- Dinners and lunches eaten out
- Additional clothing expenses
- Commuting costs (wear and tear on car, maintenance, gasoline)
- Additional taxes
According to some estimates, by the time extra work expenses
are subtracted from a second salary of $24,000 a year, the
take-home pay is approximately $219 a month, or a whopping
$2,628 per year!
Ultimately, deciding to work or stay at home is not a decision
that should be driven by your checkbook alone but rather according
to your family and personal needs. In order to make the choice
that’s best for you, run the numbers, talk to your spouse
and kids and discuss the lifestyle issues associated both
with working and staying home.
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