“I know of no more encouraging fact than the unquestionable ability of man to elevate his life by a conscious endeavour.”– Henry David Thoreau
QUIT WORK AND GIVE YOURSELF A RAISE - NET VALUE OF SECOND INCOME
After my first two children were born I sat down and decided to make a list of how much I
saved my family by staying home and doing much of the necessities myself, compared to going
out to work and being able to purchase what was needed. I was enthralled with the outcome.
Listing the services I performed for my family I wrote down everything I could think of
down to the smallest detail and then put a price next to it of the going rate to have that service
done by another. These were things like haircuts, sewing, cleaning, baking, cooking, child
care, etc... It was a great boost to my morale to see exactly how much I did for my family, but what was really exciting was seeing how much I was worth! I figured that what I did was
worth $20,000.00 in the job market of 1981...two or three times that now in the new millennium. It was an eye opener for me because in Provo, Utah, jobs were very poor paying...if you didn’t do it, some other struggling college student would...thus employers didn’t have to pay much to their employees. Yet staying home I found I was worth twice that of someone who left their home to work for someone else. I may not have brought that amount into our home physically but I saved the equivalent yearly by being in my home.
Today it is being discovered that the second income structure is extremely inefficient. It is
estimated that the average two income family has to earn at least 35 percent more money in
order to have the same standard of living as a single income family. The second income loses
27%-30% of it’s value to taxes alone! Then there is the consideration of all the extra expenses
that occur when you leave the responsibility of caring for home and family. Daycare averages
$100.00 a child per week! Convenience and fast food are possibly the biggest budget busters
and if you doubt that statement keep a tally of how many times you stop for a quick bite and
what it costs for the week. You’ll be amazed! Extra transportation and rising gas prices
crunch a large chunk of your change. Costlier clothing and hair care are another big
consideration. Expenses for household repairs and maintenance are also a huge price to pay
for joining the two income club. It is obvious that the second income lifestyle is expensive and
there are great benefits to staying home. The real benefits, however, are not so obvious. In the August 1999 issue of the Reader’s Digest, Andy Dappen’s article, “Live Well on One Income,” makes a statement that I would hope all of us would remember. He states that our lives can become less stressful, happier, more directed and fuller by embracing one simple idea... that we can’t have it all. He then calms everyone’s anxieties by claiming that we can have enough.
Living in a materialistic world is a burden to us physically, emotionally and spiritually.
When we choose to live in a way that gives us just enough, we have to make clearer choices
and establish our priorities with an eternal perspective. Maybe we will have a smaller home or
an older car but we will also be able to enjoy a life that is more relaxed and freer from stress,
realize the joys and heartaches of raising our own children, serve more fully in the church and
the community, and even have the time to discover personal interests.
Take the time now to discover for yourself what your true net worth is. It takes a little time but the effort is worth it because it firmly establishes in your mind and heart what your true net worth is.... both temporally and spiritually.
After my first two children were born I sat down and decided to make a list of how much I
saved my family by staying home and doing much of the necessities myself, compared to going
out to work and being able to purchase what was needed. I was enthralled with the outcome.
Listing the services I performed for my family I wrote down everything I could think of
down to the smallest detail and then put a price next to it of the going rate to have that service
done by another. These were things like haircuts, sewing, cleaning, baking, cooking, child
care, etc... It was a great boost to my morale to see exactly how much I did for my family, but what was really exciting was seeing how much I was worth! I figured that what I did was
worth $20,000.00 in the job market of 1981...two or three times that now in the new millennium. It was an eye opener for me because in Provo, Utah, jobs were very poor paying...if you didn’t do it, some other struggling college student would...thus employers didn’t have to pay much to their employees. Yet staying home I found I was worth twice that of someone who left their home to work for someone else. I may not have brought that amount into our home physically but I saved the equivalent yearly by being in my home.
Today it is being discovered that the second income structure is extremely inefficient. It is
estimated that the average two income family has to earn at least 35 percent more money in
order to have the same standard of living as a single income family. The second income loses
27%-30% of it’s value to taxes alone! Then there is the consideration of all the extra expenses
that occur when you leave the responsibility of caring for home and family. Daycare averages
$100.00 a child per week! Convenience and fast food are possibly the biggest budget busters
and if you doubt that statement keep a tally of how many times you stop for a quick bite and
what it costs for the week. You’ll be amazed! Extra transportation and rising gas prices
crunch a large chunk of your change. Costlier clothing and hair care are another big
consideration. Expenses for household repairs and maintenance are also a huge price to pay
for joining the two income club. It is obvious that the second income lifestyle is expensive and
there are great benefits to staying home. The real benefits, however, are not so obvious. In the August 1999 issue of the Reader’s Digest, Andy Dappen’s article, “Live Well on One Income,” makes a statement that I would hope all of us would remember. He states that our lives can become less stressful, happier, more directed and fuller by embracing one simple idea... that we can’t have it all. He then calms everyone’s anxieties by claiming that we can have enough.
Living in a materialistic world is a burden to us physically, emotionally and spiritually.
When we choose to live in a way that gives us just enough, we have to make clearer choices
and establish our priorities with an eternal perspective. Maybe we will have a smaller home or
an older car but we will also be able to enjoy a life that is more relaxed and freer from stress,
realize the joys and heartaches of raising our own children, serve more fully in the church and
the community, and even have the time to discover personal interests.
Take the time now to discover for yourself what your true net worth is. It takes a little time but the effort is worth it because it firmly establishes in your mind and heart what your true net worth is.... both temporally and spiritually.
1 comment:
Yea, Mom! :) yep, working at home saves money--and I don't mean 'working' in the sense of having an actual job at home, I mean actually WORKING at home, because, man, that is one tough job to keep up with...even if you are lucky enough to have a housekeeper!!! :))
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