Mom Management
Work: 5 Hidden Costs of Working Outside the Home

Before you read the 5 hidden costs of working outside the home, know that we also addressed the 5 hidden costs of being a stay at home mom.

When we calculate the financial impact of a second career on the family budget, we tend to evaluate things based upon the potential salary versus the lost time in the home. Determining the true value of your outside job requires a more thorough analysis of the costs—yes, costs—of working, some of which may be just under the radar. Take a look at these five costs of working that may chip away at the financial gain you expect:

1. Taxes.  Not only are you leaving a significant portion of your salary in the tax man's hands on payday, but you may push your total family income into another tax bracket. If your husband's salary puts him near the top of one bracket, and your (possibly smaller) salary pushes your family total over the line and into the next bracket, it can significantly increase the percentage of income tax both of you pay. In some cases, this can almost totally offset the benefit of your added salary.
2. Commuting Expenses.  Taking two cars to and from work each day isn't cheap. The added gasoline and mileage, plus parking or tolls can add up in a hurry. You might also find yourself forced to make another car purchase sooner with the extra wear and tear on your car.
3. Meals Out.  Most stay-at-home moms probably eat lunch at home on a typical day. But working women tend to have lunches out with colleagues, if for no other reason than convenience. A precious few have the self-discipline to brown-bag it, but only you can honestly say if that would be you. Also, working moms who are just coming home at dinner time are more likely to pick up pricier prepared foods for their families on occasion.
4. Work Wardrobe.  Your favorite yoga pants and college t-shirt are great when you're hanging out at home or taking the kids to the park, but a professional environment will require a more put-together wardrobe. Depending on your personal tastes, this can range from mildly costly to "have-mercy-my-Nordstrom-card-just-burst-into-flames."
5. Household Help.  Lots of working moms discover that spending 40+ hours a week at the office makes keeping things tidy at home truly difficult. Eventually, many hire housekeeping help on a regular basis, further eating away at the bottom line.

If you'd like an easy way to crunch the numbers on the costs and benefits of working, try using this online One Income Calculator from Crown Financial Ministries.

More Information on this Topic:

• 6 Tips to Make Working Worth It

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