Making Finances Simple. Changing Lives.
Having kids is not a decision you make because you want to improve your finances! By no means do kids add to your “bottom line” financially. Knowing all the factors involved in that bottom line could help your decision-making when deciding whether both spouses should work.....
Calculating Your True Pay Rate
It is important to know the numbers when it comes to both spouses working when you have a child. Consider the following costs of having that second spouse work:
Other Job Considerations
Jobs can provide things other than just a paycheck every two weeks. Consider the following:
Other Family/Life Considerations
You have to ultimately decide what is most important to you. Is it more money, more retirement....or less stress, more free time, etc.?
**And if you do decide to have only one spouse work, remember to keep more in reserve savings. This will help smooth things out if that one income earner loses his/her job.
If you would like to do a tax projection on the financial pros/cons of having only one spouse work, contact us...we’re here to help!!
P.S. – It’s not too late to have us prepare your taxes. Consider these 5 reasons why you should have us prepare your taxes: Click Here!