Believe it or not you pay to go to work, what are those cost?

By: Tracy Martin


In today's crazy world many moms are considering leaving the workforce to stay home with their children. We all make the decision for different reasons, but many of us get there the same way. We have to weigh our options against our lifestyle. Can we afford it, or does our lifestyle prevent us from affording it. Sometimes a decision like this can force us to re-align our priorities or sacrifice some of the comforts we have become accustomed to. But, before you get to deep, have you considered how much it cost you to actually go to work? What you find out could be stunning. Get out a piece of paper and prepare to do some math. You may be closer to staying home with your children than you think.
There are many factors to think about, but I think the following factors are the big ones. Your child care is big expense, for some it costs more than $12,000 per year. What do you spend each week on this, add it up. Your clothing can be quite expensive. You are not only spending money on the obvious, but consider how much you spend on dry cleaning, shoes, pantyhose, make-up, nails, etc.
Your daily food bill adds up quick. I loved to go to lunch each day, and I am sure I am not alone in that. I needed to get away from the office for a mental reprieve and my daily lunch break was the ticket. That mid day break is a hard hit on your pocket book. What are you spending weekly on lunch? Another thing to consider is your gourmet coffee stops and late afternoon vending machine trips. Finally, how often do you go out to dinner? What about the number of times you have picked up dinner on the way home because you are to tired to cook after a hard days work. How much is food really costing you?
Gas is a huge weekly cost, what do you spend? With all the driving, you are just adding miles to your vehicle which causes the value of your car to decrease. This will increase the frequency of your oil changes and tire maintenance. What do you spend on vehicle insurance? Many times the more you drive, the more your insurance will cost. Some insurance companies give a discount for driving less, some will even provide policies based on the number of miles you drive each day.
What tax bracket are you in? You may pay more tax from your additional income because it forces you into a higher tax bracket. Additionally, you could be missing certain tax breaks from your single income household status.
Ok, now add up your expenses and subtract that from your current income. Now how much do you make? Take the standard work year of 2,080 hours and divide it by your left over amount. Now what is your hourly rate? Is it still worth it to go to work at that rate? This can be an eye opening time, it was for me. It gave me the incentive I needed to transition to a stay at home mom.

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If staying home is your mission, it is Tracy Martin's passion to help you. Her website is committed to helping you find ways to save money and make money so you can stay home with your children.

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