444-Yes, You Can Afford For Your Wife to Stay At Home...Here's How!
Radical Personal Finance
English - March 29, 2017 09:00 - 37 minutes - 35.3 MB - ★★★★ - 1.8K ratingsInvesting Business Education christian financial money advice education faith family finance growth independence Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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
Don't have good data on your income and expenses? Start tracking it with YNAB! Get a free 34-day trial at www.radicalpersonalfinance.com/YNABDATA:
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 $20,417Today'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
Don't have good data on your income and expenses? Start tracking it with YNAB! Get a free 34-day trial at www.radicalpersonalfinance.com/YNABDATA:
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