Would you get a barely over min. Wage job knowing 40% will go to taxes?

[...................]

My dh is taxed at 40% (or something like that)...

 

I would like to get a job to help support my dd's expensive horse hobby as well as just bringing money in so that my dh can focus on saving his extra money for retirement.  I just like the idea of helping more.

 

My kids definitely still need me around, a LOT, and I am in now way ready to work full time.  However I do a lot of extra cleaning, gardening, and sitting on facebook because frankly they just don't need me THAT much anymore.  

 

But, if I work 3 days per week, my pay would be about 1000.00 per month but my take home would only be 600.00.  To me, that is very de-motivating.  On the other hand, that is 600.00 that I didn't have before!

 

(Right now I am acquaintances with the manager of the local Staples and I believe she would hire me, and they have an opening right now.  I also qualify as a "diversity hire" which may help.  

 

Any thoughts?

 

[Joyofsixreboot]

I am toying with working part time. I'm in the "that's $600 I didn't have" camp. I'm looking more at earning $7.00 an hour though so it's "that's $100 I didn't have " :-)

 

Sent from my SAMSUNG-SM-G900A using Tapatalk

[Insertcreativenamehere]

Yes, I am contemplating this very thing. I have an opportunity to earn some spending money without impacting family life, and while my income will be heavily taxed, it's money I wouldn't have had otherwise. 

[MommyLiberty5013]

Are you also saving for retirement?

[...................]

Yes we are saving a boat load for retirement, because our new cost of living area is a totally different story and our previous retirement savings will not work where we are now...

 

But this job would be just to pay for for extra nice stuff like horse costs, mostly.  And just because I want to help, now that I am freed up a bit more.  Eventually when it would become a full time job and the kids are grown, of course I would contribute to whatever we needed whether it be to pay off the house, save for retirement, etc.

[creekland]

It would depend upon how much I enjoyed the job.  Personally, I've worked part time subbing because I love it - both the job itself and the chance to get away from home and develop my own life.  The money is just a bonus.  It's really insignificant in our budget compared to what hubby makes.  I make as much with our ponies (most years).  I love doing that too - though might be selling our last 5 soon if I get an offer.  That would be the end of an era TBH, but I think I'm ready for it.

 

I got pretty cranky at home full time TBH.  My family preferred my working part time too.  It helped me mentally a ton - and that helped life with them.

 

Without those pros - or if working stresses you out more (we're all different) - I don't think it'd be worth it.

[bettyandbob]

Yup. I'd go with $600 you didn't have. Not working means you won't get that $600. Not working for the low wage means that in you won't take advantage of the any pay raises  and would be starting on the lung rung where you are now in the future. 

[Guest]

Its helpful in qualifying for disability insurance from SS, if you aren't carrying private insurance.

[Laura Corin]

Yes I would.

 

Perhaps also look at where the taxes would go and find some aspect of that that makes you happy to be contributing.

[TrixieB]

Its helpful in qualifying for disability insurance from SS, if you aren't carrying private insurance.

 

Yes, this is worth taking into consideration.  I have run into people who are just a couple of quarters short of qualifying, but are unable to work enough to earn those quarters.

 

[Arcadia]

.But, if I work 3 days per week, my pay would be about 1000.00 per month but my take home would only be 600.00. To me, that is very de-motivating. On the other hand, that is 600.00 that I didn't have before!

I have calculated roughly at tax time and my take home pay would be less than the $600 assuming federal and state tax currently equals 40% of pay.

The family tax bracket would be bumped up for federal and state tax. Alternative minimum tax is likely higher too. There is also Social Security deductions and 401k deductions as well as California's SDI deduction.

 

I would take the job if I like it with the intention of getting a full time job when my youngest boy goes to college. So basically a soft step into the job market. I won't be expecting the "$600" estimated amount and would probably just put it under savings for future college miscellaneous expenses.

[bettyandbob]

 

I would take the job if I like it with the intention of getting a full time job when my youngest boy goes to college. So basically a soft step into the job market. I won't be expecting the "$600" estimated amount and would probably just put it under savings for future college miscellaneous expenses.

I'd see it as step to building up a resume again.

[PeterPan]

Or you could look for a job that pays better. My ABA workers, ie. college students with an interest in working with SN but basically ANYONE willing to work with SN, have a take-home pay of $15 an hour. They can totally set their hours, because they're in high demand. Now sometimes it can be a really sucky job, but some people really like working with my kid!

 

So you might see if you could find a job like that or maybe a job tutoring or working in a tutoring center or something. You have a background in education and experience that might be worth something.

 

Typical hours for my workers? 3-4 hour shifts at $15 an hour. We're a low pay area and that's DOUBLE what you could walk anywhere and get at minimum wage. Blows my mind how few people want to work with my ds, even when the pay is so high! Like seriously, you realize they get paid to play wii, do read-alouds, supervise worksheets, do playdough and legos... I mean, I kid you not. $15 an hour to play with my kid and do stuff you do for your own kids for free. :D

[OneStepAtATime]

Yes, I would do it.  While it also gives you some money to cover extras for your kiddo it also gives you a soft step into the job market that could be used to get you into a better position further down the line.

[eternalsummer]

I would try to start a small business.

[2squared]

I have calculated roughly at tax time and my take home pay would be less than the $600 assuming federal and state tax currently equals 40% of pay.

The family tax bracket would be bumped up for federal and state tax. Alternative minimum tax is likely higher too. There is also Social Security deductions and 401k deductions as well as California's SDI deduction.

 

I would take the job if I like it with the intention of getting a full time job when my youngest boy goes to college. So basically a soft step into the job market. I won't be expecting the "$600" estimated amount and would probably just put it under savings for future college miscellaneous expenses.

I wouldn't categorize all those deductions together. 401k deductions are optional and are personal savings, the opposite of a tax.

 

Social security is a tax, but it qualifies you for social security benefits. I don't live in CA, but I assume the SDI deduction also qualifies you for benefits.

[Laura Corin]

I do think that the US option of filing jointly tends to discourage second earners. When I went back to work in Scotland, I paid no tax on the first 11,000 pounds, and then just basic rate.

[SKL]

If the money need wasn't an emergency, then the decision would depend on how the job made me feel.  Having a job can improve your mood, or can sour it.  Do you feel better hanging around adults for part of the day, contributing to something outside your own family?  Then I would give it a try.  How long I'd stay would depend on how easy the folks are to work with.

[Tanaqui]

Well, your choice is to have 40% go to taxes, or to have 100% be non-existent.

What do taxes buy you? They help build the roads, and the hospitals, and the schools. I'm kinda okay with that.

[Carrie12345]

If I wanted $600, yep!

 

No matter how much I'd make, I'd only take home somewhere in the 60% range.  The fact that it's in taxes is kind of irrelevant, except when considering things like SS credits.  If it were "only" 25% or 35%, I don't think the extra $50 or $150 would be make or break for me.  Do I have the time? Will I at least not HATE what I'm doing? Do I need the money?  $150 won't really change those answers.

 

$12,000/yr vs. $60,000 might change my questions a bit.   ;)

[DawnM]

I am going to assume you have cut everything out that you can. 

 

When I stopped working, I felt it was my job to CUT several hundred dollars from the budget.  We went to prepaid cells, cut TV and did over the air only, cut back to the lowest internet speed, calculated every drive into town and budgeted for gas, budgeted severely for food (didn't eat out and bought only ingredients, no pre-made foods), and garage sale shopped for clothing and goods, and happily took any free hand me downs I could.  I only bought used curriculum and resold it for almost the same price, etc.....

 

We really whittled down to spending almost nothing for several years.

 

We could have easily spent another $600/mo., but I figured it was my "job" to see that we didn't.

 

[athomeontheprairie]

I LOVE my job. I am a far far better mom when I work 15 hours a week, seeing other adults and in general contributing to society. It lets me persue my own goals and hobbies. It was needed for my mental health, the money is always a nice extra. Nearly all the money goes to pay for extras for the kids and house.

In my case, it also allows us to connect with society. Me and the kids. We are involved in the town affairs and events. My kids are able to see other people. (This is a huge disadvantage of living where we live. If you aren't outside at 1:12 to talk to the mailman, you miss all opportunity to talk to ANYONE. Joys of rural living ðŸ˜)

 

What would your kids be doing while at work?

Do you like to be around people (assuming that's a job requirement?)

How much time spent traveling to and from?

Will you need to purchase work attire?

How does your dh feel?

Beyond the money, do you want the job? Why?

 

Personally, I'd say try it. If it doesn't work, you can always stop.

Edited June 18, 2017 by athomeontheprairie

[JFSinIL]

Go for it. Money is money.  I was glad to get about $800 a month from the state as my adult son with autism's primary aide for about half a year, until he moved last month into a group home. Now the home gets all the state/federal money.

[JFSinIL]

hey, no double posties!

Edited June 18, 2017 by JFSinIL

[Caroline]

Go for it. Money is money. I was glad to get about $800 a month from the state as my adult son with autism's primary aide for about half a year, until he moved last month into a group home. Now the home gets all the state/federal money.

Hijack for a second... I didn't know that had happened. I hope everything is going well.

 

Unhijack... If you want the money, then take the job.

[SparklyUnicorn]

My dh is taxed at 40% (or something like that)...

 

I would like to get a job to help support my dd's expensive horse hobby as well as just bringing money in so that my dh can focus on saving his extra money for retirement.  I just like the idea of helping more.

 

My kids definitely still need me around, a LOT, and I am in now way ready to work full time.  However I do a lot of extra cleaning, gardening, and sitting on facebook because frankly they just don't need me THAT much anymore.  

 

But, if I work 3 days per week, my pay would be about 1000.00 per month but my take home would only be 600.00.  To me, that is very de-motivating.  On the other hand, that is 600.00 that I didn't have before!

 

(Right now I am acquaintances with the manager of the local Staples and I believe she would hire me, and they have an opening right now.  I also qualify as a "diversity hire" which may help.  

 

Any thoughts?

 

$600 take home..minus gas...minus wear and tear on your car...minus the days you feel too tired to cook so you get take out....minus your sanity...

 

Not worth it to me unless I enjoyed the job. 

[Alessandra]

If there is some drastic change in your family's financial situation, health, etc, and you have to enter fuller time work, it could be good to have a recent job history on your resume.

 

Also, would you be able to shelter any of the new money in retirement savings (if increasing retirement is a priority)?

[AngieC]

I did it last year and it was way more of a hassle for my family than it was worth. Added to that, I lost my IRA deduction because my employer offered a plan (that I didn't use because I was planning to use the existing IRA and it was even worse).

 

I would not do it again unless we either really needed the money or it was something I really wanted to do.

[EMS83]

Honestly, I wouldn't.  My time and especially my freedom of time is worth more to me than pretty much any salary.  I'd rather subsistence farm, though good gracious that's hard to even do partially.  But that's just me, and I'm kinda nuts.  :D

[JudoMom]

I wouldn't do it.  I worked part time at a very flexible job (about 20 hours a week) for 15 months and got totally burned out.  The extra money was nice, but feeling like I was short changing my family was hard.  Maybe I'll do something else in the future, but I found, for me, it was more important that I be able to focus on being a homeschool mom and wife.  When I was working, I felt like I was on high alert all the time and something or someone was always getting shortchanged.  It might've been the nature of the job--it's possible it would've been better with set hours instead of flexible ones, but I haven't felt brave enough to test the theory.

 

I know plenty of women who seem to manage homeschooling/homemaking/working well, but I thought I'd throw my experience out there.

[Audrey]

I would do it, and have done it throughout homeschooling.  In the past few (last few years of homeschooling), I've worked full time and managed it.

 

It's worth it, for sure.  You never know where things can lead with the employment and it might be worth considering to keep up your employment skills and resume for the sake of continuing decent employment once you're done with homeschooling.

[mommyoffive]

Just a question.  What is min wage where you are? 

 

Can you do a job from home to make even more?  No commuting costs

[Ausmumof3]

So we are talking $150 per week here?

 

I think for me it would have to be a job I really enjoyed to make it worth it or have the potential for promotion/ added income.

 

There are many things I can do at home that add value to our lives that are worth more than $150 per week.

 

That said there is a significant difference in the buying power of $150 where you live to here and I am still pretty busy with the kids.

[Greta]

A number of years ago, my husband and I sat down and did the math on this, and decided for us it just wasn't worth it. Your situation may be different! But once we deducted not just taxes, but also transportation costs, wardrobe/uniform costs, and childcare, there was going to be quite literally nothing left. So if the pay is your primary motivation, then I would encourage you to do a more detailed calculation of how much you'll really end up with when all is said and done.

 

That said, however, if part-time employment now could lead to better employment later, then that's something worth taking into account as well. At the time I made my decision I wasn't really thinking that far ahead, and now I worry about that. I want to start working when my dd goes to college, and I can just imagine how impressive twenty years of "nothing" is going to look on my resumé. :(

 

And there may be motivations besides the money, in which case everything I just said is moot. :)

[QueenCat]

My dh is taxed at 40% (or something like that)...

 

I would like to get a job to help support my dd's expensive horse hobby as well as just bringing money in so that my dh can focus on saving his extra money for retirement.  I just like the idea of helping more.

 

My kids definitely still need me around, a LOT, and I am in now way ready to work full time.  However I do a lot of extra cleaning, gardening, and sitting on facebook because frankly they just don't need me THAT much anymore.  

 

But, if I work 3 days per week, my pay would be about 1000.00 per month but my take home would only be 600.00.  To me, that is very de-motivating.  On the other hand, that is 600.00 that I didn't have before!

 

(Right now I am acquaintances with the manager of the local Staples and I believe she would hire me, and they have an opening right now.  I also qualify as a "diversity hire" which may help.  

 

Any thoughts?

 

Actual taxes are 40% or his deductions from his gross pay are 40%. Makes a huge difference in determining what your take home might look like.

 

[zoobie]

I wouldn't unless the job would be fulfilling to me. I worked part time two kids ago, and I made about 5% what DH did. That was depressing enough, but adding in the stress of having to juggle work, kids, household crap, etc. made it a definite negative for me. The work itself was a drag too, so there was nothing positive. If I had loved the work, then maybe...

[kroe1]

Nope. I would use your spare time to get the training for a better job.

[Farrar]

I don't begrudge the taxes... I'm glad we have all the things the government does... but I feel the same way. It's demotivating for me in getting a part time job. If I'm not doing something I inherently want to do and I'm making that little... So I get it. I think you have to mentally separate it out and say, okay, is the money in and of itself worth it. Ignore the tax issue.

[lynn]

Yes if it was something I wanted to do that works around my schedule. I actual!y applied to a couple just for fun. They are above minimum wage though. Well see if I get interviews.

[maize]

Another way of thinking of this is that 60% of your earnings are available as discretionary funds. That is an amazing percentage! They aren't needed to put a roof over your head and food in your mouth and to pay the utility bill.

 

I mean, our tax rate isn't close to 40% but nearly everything that comes in goes to pay for basic necessities. 60% of earnings to use however you want? That's fabulous!

[SparklyUnicorn]

Another way of thinking of this is that 60% of your earnings are available as discretionary funds. That is an amazing percentage! They aren't needed to put a roof over your head and food in your mouth and to pay the utility bill.

 

I mean, our tax rate isn't close to 40% but nearly everything that comes in goes to pay for basic necessities. 60% of earnings to use however you want? That's fabulous!

 

Sure, if you make a billion dollars.  That's a great amount.  :lol:

 

(I'm not a glass half full kinda gal.)

[DawnM]

Yeah, I'm right there with you.  For us, if you count social security and such it is more like 50 percent..    So, my job is paying me $10,000 a year.  So after taxes $6,000 a year.  Tuition for my school is a little over $5,000.  Since I am only half time, I get 25% off of tuition which makes it  $3750 for my daughter to attend which leaves me $2,250.... Then there are the athletic fees,  dress for being homecoming princess ( formal but at least she got to wear it again to the high school banquet/prom),  clothes for me since I had to exchange my yoga pants/t-shirt wardrobe for something more appropriate :closedeyes:   Yeah, I lost money on the deal.    I LOVE it though.  I would pay to teach students I love it so much.  So for me, the money is out of the equation.  This school pays way too little, though ( 20,000 for a full time)  However, their tuition is about half that of all other private schools I know. They want it to be open to kids that normally cannot afford it and they give out tons of scholarships.  Most of the teachers have spouses that earn quite a bit or they have retired from "regular" teaching jobs.  They all consider this their ministry rather than a job. 

 

I can see if you really want your kids in the school and you get a tuition break and you get to do what you like doing, then I can see taking the job.  The tuition discount is like added salary.

 

I was offered a job at our church school, twice (once last year and once this year.)   They brag that they pay 90% of the local public school, so the salary is good.  And you get 50% off tuition for your kids.

 

What they failed to explain to me until I interviewed and was offered the job and was able to actually SEE the financial offer:

 

1. Health insurance was sub-par, high deductible, cheap plan.

2. No retirement to speak of at all 

3. They wouldn't accept all my years of service like the PS would towards my salary (for example, they said they wouldn't count my 5 years of counseling towards my teaching job)

 

All that to say.....IF my kids had really wanted to go there, I would have more strongly considered it.

Edited June 19, 2017 by DawnM

[Katy]

Well, keep in mind the "cost" of the job isn't simply taxes, it's also other costs - wear and tear on vehicles, sometimes childcare, buying more convenience foods if you're too tired and busy to cook, buying new clothes for work, etc.  If you still net out at extra money, and it's a job you like to support a hobby you want to encourage DD in, it's absolutely worth it.

 

If you have multiple little kids in daycare, if you need to work so much you're exhausted at night and end up going out to eat all the time as a result, or if you're working in a job that requires extensive wardrobe changes, or if you need to double your child's wardrobe so you can stretch out laundry to Saturday afternoons only, that's when it crosses into questionable territory to me.

[MEmama]

I'll be doing something similar in the fall when DS goes to the public high school. I'm looking forward to a part time job. We don't **need** the extra income, which means I can sock it away for college or retirement savings.

 

My plan is to work during school hours so I'm still available for after school sports, homework time, etc and to keep a sense of "normalicy" (OUR normalicy) around the house. I have tons of free time even now and I think it will be a positive for me personally (as well as our bank account) to use some of that time earning an income, even if it's small.

 

I don't understand why paying a fair share of taxes would be part of the equation.

[Hilltopmom]

I'm going to,probably start subbing part time in my little kids school when they start K (I'm not planning to homeschool this set of kids).

I know it's a busy life style working while having kids, I've btdt, but I won't have daycare costs this time.

 

I'd like to be able to pay for the kids extracurriculars (I have a teen dancer) out of my pay. And when she's graduated, put money towards the Mortage & retirement.

[MEmama]

Well, for me, I was probably putting in at least 40 hours a week, probably more with all of the planning and such for $10,000 (6,000 after taxes). My husband thinks I am nuts.

Yes, but you admit that you are underpaid and that you consider it a "ministry", whatever that is (like volunteer service for your job, I'm guessing?). If you were the sole earner for your family you would pay essentially no tax at all. Also, you love your job; I think that counts for a lot.

 

But this is venturing into politics and how we view our role as citizens, and I'm not willing to go there on this board.

[creekland]

Another way of thinking of this is that 60% of your earnings are available as discretionary funds. That is an amazing percentage! They aren't needed to put a roof over your head and food in your mouth and to pay the utility bill.

 

I mean, our tax rate isn't close to 40% but nearly everything that comes in goes to pay for basic necessities. 60% of earnings to use however you want? That's fabulous!

 

That's actually how we view the $$ I make.  We go out to eat without guilt, esp on days when I work (since I don't like cooking - nice trade off as I do like my job).  We put it into our travel fund.  If we want something small that's a special treat, why not?

 

It is quite nice to be able to do it TBH.  There were plenty of times in our past when we couldn't.

 

But again, it's only worthwhile stress-wise if one enjoys the job (or at least doesn't hate it) and it's helpful if the job is flexible to fit desired hours/days.

 

I'm another who doesn't mind the taxes part.  It helps me feel I'm doing my fair share for our community (and state/country).

[vonfirmath]

I do think that the US option of filing jointly tends to discourage second earners. When I went back to work in Scotland, I paid no tax on the first 11,000 pounds, and then just basic rate.

 

However, in most cases, filing jointly puts you in the best tax bracket as a family.  I think part of the thought is to value the family. When there are two adults in the home, even if one is not getting paid an income, they are providing a definite value to the family, and to the community -- which is becoming more obvious as there are fewer stay at home parents out there.  So things that used to be volunteer driven are now either paid or don't happen.

[madteaparty]

I don't begrudge the taxes... I'm glad we have all the things the government does... but I feel the same way. It's demotivating for me in getting a part time job. If I'm not doing something I inherently want to do and I'm making that little... So I get it. I think you have to mentally separate it out and say, okay, is the money in and of itself worth it. Ignore the tax issue.

But some of the "taxes" we are talking about here are social security credits which affect your retirement. I think,for those with higher earning spouses, contributing a lot to a 401k or similar would reduce your overall tax burden and while you'd still be bringing home nothing right now, there would be some savings there plus the social security.unless the job is absolutely soul crushing in which case almost nothing is worth that. Edited June 19, 2017 by madteaparty

[MysteryJen]

I thought about doing that, and after dh and I ran numbers, decided it wasn't worth it. My value to the family now, in a house full of young adults and teens, is my availability. Driving, practice demands, errands, dh work travel, medical appointments, helping with homework, administration etc. None of it happens on a strict schedule. And yes, if I found something I loved, we would make it work, but otherwise, no.