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Right now, I'm dealing with the flip side... the cost of NOT working. The original numbers don't take into account the fact that the working partner has to save enough for both partners during retirement and has to pay health costs or health insurance for two. I'm preparing to go on maternity leave, and I have to find a way to pay for these things that usually come off my paycheck. Our utilities will also increase since I'll be home all day (a significant difference during our cold winters). For me, there isn't much on the original list where I would see any significant savings by staying home. In fact, I usually share a ride to work with my husband and it's going to be difficult to get by on one car when one of us stays home. In general I think that unless the person has a low-paying job it's usually a better financial decision to work, whatever the percentage being eaten by expenses. That's not to say that it's a bad idea to stay home. I just think that while finances is an important factor, the decision should be based on the family's situation and values. I find exaggerated estimates like this try to discourage women from working when it's really a much more complex issue.
Toggle Commented Jul 6, 2010 on The Costs of Working at Free Money Finance
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Jul 5, 2010