Radical Personal Finance 444 - Yes, You Can Afford For Your Wife to Stay At Home...Here's How!

Today’s show comes by inspiration of this listener question: “Joshua, will you please send me a link to the best show on your website for a woman wanting to convince her husband that they can make it financially if she stays home?”

Well, I didn’t have such a show. But now I do.

Here it is!

Joshua

DATA:

 Working (Conservative)  Staying at Home  Difference
Husband  $60,000  $60,000
Wife  $60,000  $-
Total  $120,000  $60,000  $60,000
Employment Taxes (7.65% — 6.2% SS + 1.45% Medicare)  $9,180  $4,590  $4,590
Income Taxes (Turbo Tax Estimate, 30 years old – 2 kids, no deductions)  $12,849  $1,756  $11,093
 $22,029  $6,346  $15,683
Income, net of tax  $97,971  $53,654  $44,317
Cost of Childcare ($7k x 2)  $14,000  $-  $14,000
Income, net of childcare  $83,971  $53,654  $30,317
Commuting Costs Saved ($200/mo)  $2,400  $-
Work Lunches Saved (100 lunches @ $15)  $1,500  $-
Work Clothing Saved ($50/mo x 12)  $600  $-
Dinners Out Saved ($60 x 50)  $3,000  $-
Household Savings due to frugality ($200/mo x 12)  $2,400
 $9,900  $-  $9,900
Income, net of working costs  $74,071  $53,654  $20,417

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