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@Mrs. High Heels: True true. But I can't imagine it being more than daycare! We pay over $2k a month.
Unless extra curriculars adds up to $2k a month? PLEASE SAY NO!
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Extra cushion is always good
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@banana: good point! ok, NO!!! x1000
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Every little bit helps. Since I stay at home, the extra money would provide us with extra cushion.
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@Mrs. High Heels: OMG PHEW. I almost had a heart attack. I was SOOO looking forward to the days when we didn't have to pay for daycare/preschool! I think $500/month is reasonable for extra curriculars in our area. Maybe Tae Kwon Do and another sport if he's interested.
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@banana: i've been thinking tae kwon do too, i haven't done any research on costs in my area though. i'd love for them to play soccer too if they're interested!
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It would be awesome and make for a lot more care free splurges and better feeling of security. But day to day, no, we already live well below our means.
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Wagon Sr.'s last raise bumped us up a tax bracket so on paper, he makes a lot more but it didn't give us much more after taxes.
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It would make zero difference in our day to day life. But it would increase our savings which over the long run would be great for retirement!
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@Mrs. High Heels: Soccer would be great! I think my son would love swimming lessons too. He's shown a lot of interest in musical instruments lately though. He takes a music class at school and whenever they have the kids choose an instrument, he always always chooses the drum. Can you imagine though? Drumming practice. At HOME??? o_O
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@mrs. wagon: BOOOO on the tax bracket bump!!!
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For sure it would. After taxes it would cover our mortgage, which is nothing to sneeze at!
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@Sapphiresun: WOW. I wish a 20% increase would cover our mortgage!
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Yes! It'd likely end up in savings, but it would give us back some of that cushion we've been missing since daycare started and THAT would mean less stress/worry/arguements. It'd be huge for our stress levels, not really our bank accounts.
Also, it'd mean we didn't have to wait until F is 5 to have a 2nd child.
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It would make a huge difference to us. 20% of the income at my new job would mean more than $6,000 a year, which would be significant.
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YES. I got a 20% pay bump with my last job move, and it saved us, quite literally. We had a budget planned out, but now that LO's here, there's no way it would have worked.... and 20% on top of what I make now? Yes, it would allow us to up her college contribution, our 401k contribution.... and maybe I could get a pedicure once in a while!
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For now it would go into savings, but we're hoping DH can go back to school in the near future - so it would make a big difference in that regard.
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oh my gosh yes! Any increase helps
DH currently only gets 1-2% raises and it is disheartening -
It would be great for us! We are working on paying things down (student loans, car loans), and a 20% increase would mean we could be done with that really fast!
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Not really, but every little bit counts!
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It would make all the difference in the world.
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For us yes. More savings for our future home
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Yes!! More in savings would make me feel 100x better.
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DH's income is based off of the market economy anyway, so it fluctuates a good 20% over the course of 5 years sometimes, as it is. We live within our means and have a lot left over every year, so 20% increase would not change how we lived, it would just go into the bank.
Now, if I were working, 20% increase in my annual salary would be nice, because i'd literally blow it on vacations or something, because me working would be extra cushion, as it is. -
We're on a single income now so a 20% increase in DH's salary would definitely help! I can't say that we would live any differently now but when we get our new house and bigger mortgage it would be HUGE.
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It would make a huuuuge difference for us. But we also make very little, and DH only works part time. :\
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Good question! I just ran the numbers through a tax calculator. Currently, it wouldn't make a huge difference but when we drop down to one income next year it would allow us to continue saving, something that will have to go on hold for a wee while.
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In just mine? Since I work PT it wouldn't make a huge bump. BUT I would LOVE to have that money to put in savings!
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@banana: I'm with you - not day-to-day but it would help us feel more secure with extra money in the savings!
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I am fortunate that I will be receiving about a 20% raise when I start my position with a new company in December! It will make a huge difference for us!
As I am the primary earner already, it means a 20% increase to my already higher salary - the amount will more than cover daycare for the year with more left over. We bough our first home this summer so we've racked up a little bit of debt doing some needed repairs and renovations so this raise will allow us to pay that down really quickly vs. over the next 6 months as we figured we would have to do.
(thankfully we stay in the same tax bracket!) -
not day to day--it'd just be extra savings for the year. and we're teetering on the next tax bracket, so that may bite us in the @$$! :T
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It would be wonderful (heck I wouldn't turn it down) but overall it wouldn't be a HUGE signifcants, it would be nice to put that in savings though.
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It would be amazing. It would cover at least our mortgage and daycare! Kaching!!!
Nice to dream
Unless extra curriculars adds up to $2k a month? PLEASE SAY NO!
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