Saturday, April 25, 2009

One Income Worksheet

A lot of parents question how it could possibly be feasible to have a one-income family when they can hardly get by on two incomes. It stops them dead in their tracks when they consider homeschooling and realize what it means for them financially.

If you step back and look at your individual situation you may find that it would not be all that difficult. You would be surprised at how much it COSTS to work full time! Consider this worksheet when figuring out whether it is feasible for you to quit working and home school your children. Take your income per month and subtract the following:

• Gas to and from work (ouch!)
• Eating lunch out with co-workers
• Corporate Wardrobe
• Dry-cleaning Corporate Wardrobe
• Meals your family eats out because you don't have time to cook
• Day care or Before/Afterschool care for children
• Convenience foods to save you time because you work
• Maid service?
• Kid's lunches at school

Now get rid of all those costs and add in these cost benefits

• Your children no longer need "Brand X" to stay cool with their peers
• You can cook from scratch lowering your food bills dramatically
• You can clip coupons and actually use them
• You can shop at a sale because you have the time
• Your tax base lowers

In addition to the cost benefits think about these things You have more time for your family

• Your kids spend the day with you instead of other adults who you may or may not know
• Your kids spend less time with unkown peer groups and peer pressure
• You have regular meals at home together rather than on the go in the car on the way to who knows where

In our situation we were better off with me home. My job required numerous lunches out with clients and a horrendous dry cleaning bill. I never would have gotten to know my children the way I have if I wasn't homeschooling them. I can't say that I miss the deadlines, the long hours or the pressure either!

1 comment:

Rene said...

I love your website, especially this post! What a great way to list it all. Great pics too!