The Balanced Spreadsheet-Financial News, Budget Advice, Debt help, Financial Tips, and other advice

August 11, 2009

The decision to work less hours

Filed under: Real Example — Tags: , , , — thebalancedspreadsheet @ 2:55 pm

After much discussion, my wife and I have decided it would be best for my wife to cut back on the amount of hours she was working!  Currently she was working full time at 40 hours a week; in addition, she was also working a lot of evening hours as well.  Considering that I am an early bird and go into work at 7:00 in the morning, some nights we would hardly see each other at all. After talking it over with the owner of the business, my wife and he decided on a 35.5 hour work week starting this week. While 4.5 hours a week might not sound like much, she will also be going in to work earlier in the morning, meaning we will have more time to spend with each other in the evening.  We are really excited about this.

In terms of financial impact, there will not be a lot of change. Since ultimately our goal will be for my wife to stay home full time when we have children, we have a budget based on my income alone.  So overall the financial impact will be small, we won’t be able to save as much as we wanted to, but overall having a better home life where my wife and I can connect and spend more time together FAR outweigh any financial loss. It has truly been a blessing that we have each had full employment in this down economy, and the only way we could think of doing this is because we have a set financial plan where we are debt free except our mortgage and have our emergency fund full funded. I can not help but think of how many people want to be able to cut back on hours, but simply can not due to credit card debt, car payments, and huge mortgages.


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