Comments on: Real Earnings Analysis for my PRN Job http://financefreelancelife.com/2008/10/21/real-cost-work/ Fri, 19 Mar 2010 11:58:21 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: When Should Your W-2 Arrive? What if it Doesn’t? http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-36471 When Should Your W-2 Arrive? What if it Doesn’t? Wed, 21 Jan 2009 12:02:41 +0000 http://financefreelancelife.com/?p=1125#comment-36471 [...] contracting & part-time jobs!) and Micah still needs to get his one. Seeing the W-2 from my PRN job reinforced how little I was earning there. [...] [...] contracting & part-time jobs!) and Micah still needs to get his one. Seeing the W-2 from my PRN job reinforced how little I was earning there. [...]

]]> By: New Bus to Rail Discount for DC Metro Riders http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-30121 New Bus to Rail Discount for DC Metro Riders Tue, 11 Nov 2008 14:31:03 +0000 http://financefreelancelife.com/?p=1125#comment-30121 [...] I’ve mentioned before, I use the metro for some of my commuting. Most DC Metro riders use SmarTrip cards to make our [...] [...] I’ve mentioned before, I use the metro for some of my commuting. Most DC Metro riders use SmarTrip cards to make our [...]

]]> By: An Inspiring Story of Frugality | Frugal Hacks http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-29072 An Inspiring Story of Frugality | Frugal Hacks Sun, 26 Oct 2008 14:39:13 +0000 http://financefreelancelife.com/?p=1125#comment-29072 [...] drive cuts into her real earnings, but she’s found a great way to make up for [...] [...] drive cuts into her real earnings, but she’s found a great way to make up for [...]

]]> By: Trixie http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-28811 Trixie Wed, 22 Oct 2008 13:31:42 +0000 http://financefreelancelife.com/?p=1125#comment-28811 Hello, Very interesting post! Thank you for sharing. I have a tax business and run into situations like this with my clients all the time. Laurie is so right about a mom of 2 small kids needing to earn in the mid 40's to justify working. Even in that range you would still be working for peanuts. Is $2-$5 an hour really worth it?? Most of my mom clients could quit and be better off for it. Take Care, Trixie Hello,

Very interesting post! Thank you for sharing.

I have a tax business and run into situations like this with my clients all the time.

Laurie is so right about a mom of 2 small kids needing to earn in the mid 40’s to justify working. Even in that range you would still be working for peanuts. Is $2-$5 an hour really worth it??

Most of my mom clients could quit and be better off for it.

Take Care,

Trixie

]]> By: Dominique http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-28779 Dominique Wed, 22 Oct 2008 02:53:29 +0000 http://financefreelancelife.com/?p=1125#comment-28779 I am presently trying working from home and find that it really makes more sense then working outside and having to pay hefty childcare fees + transportation. Hope to get more freelance jobs and get back the pay to when I was working full time minus all the related stress :) I am presently trying working from home and find that it really makes more sense then working outside and having to pay hefty childcare fees + transportation. Hope to get more freelance jobs and get back the pay to when I was working full time minus all the related stress :)

]]> By: Laurie http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-28773 Laurie Wed, 22 Oct 2008 00:11:48 +0000 http://financefreelancelife.com/?p=1125#comment-28773 Even people with high paying jobs should perform this check. It makes me CRAZY how many mothers are working "because they have to." It has been proven time and again that it actually costs many of them money TO work - especially if they are making minimum wage while paying childcare. The general rule is that a mother with 2 small children needs to make mid $40k to even consider working (unless free childcare is in the works). I quit my $75k a year career after having my 2nd child. By the time you figured taxes (my income was highly taxed as hubby makes a good income), commute, clothes, eating out more, childcare, increased dry cleaning and convenience foods I was making $8 per hour. While that would have been fine in a low responsibility low travel, short commute, I was in a high stress, high travel, long commute job. Totally not worth being away from my kids most of them time when I was only really bringing home about $1280 a month. It was hard for about 6 months to stick to our budget (this was 4 years ago) but by years end, we didn't even miss the money. I'm lucky that my husband makes a good salary and I could consider this - but it also would never have been possible had we carried car notes or credit card debt or student loans. What is funny is that my old co-workers think my husband makes more than their husbands (he didn't, until very recently) and that is why I get to stay home. UM NO! It is called a budget and not having new cars! Even people with high paying jobs should perform this check.

It makes me CRAZY how many mothers are working “because they have to.” It has been proven time and again that it actually costs many of them money TO work – especially if they are making minimum wage while paying childcare. The general rule is that a mother with 2 small children needs to make mid $40k to even consider working (unless free childcare is in the works).

I quit my $75k a year career after having my 2nd child. By the time you figured taxes (my income was highly taxed as hubby makes a good income), commute, clothes, eating out more, childcare, increased dry cleaning and convenience foods I was making $8 per hour.

While that would have been fine in a low responsibility low travel, short commute, I was in a high stress, high travel, long commute job. Totally not worth being away from my kids most of them time when I was only really bringing home about $1280 a month.

It was hard for about 6 months to stick to our budget (this was 4 years ago) but by years end, we didn’t even miss the money.

I’m lucky that my husband makes a good salary and I could consider this – but it also would never have been possible had we carried car notes or credit card debt or student loans.

What is funny is that my old co-workers think my husband makes more than their husbands (he didn’t, until very recently) and that is why I get to stay home. UM NO! It is called a budget and not having new cars!

]]> By: deepali http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-28747 deepali Tue, 21 Oct 2008 18:32:35 +0000 http://financefreelancelife.com/?p=1125#comment-28747 If I worked anywhere not on a metro or not walking distance, I was definitely reconsider. But luckily, I can walk when I'm not feeling lazy. :) If I worked anywhere not on a metro or not walking distance, I was definitely reconsider. But luckily, I can walk when I’m not feeling lazy. :)

]]> By: Stacey http://financefreelancelife.com/2008/10/21/real-cost-work/#comment-28743 Stacey Tue, 21 Oct 2008 17:23:34 +0000 http://financefreelancelife.com/?p=1125#comment-28743 Yes! I was holding on to a part-time job from college for "security" as I started freelance writing... until I sat down and realized that it was costing me $10 to get there and earn $45 after taxes. The gas and TurnPike tolls were killing our budget. I first tried to transfer to a store closer to my home (no openings), and then tried to work longer shifts (wouldn't allow me to). When that didn't work out I gave my two-week's notice. I'm fortunate that we have my husband's full-time paycheck, which made the transition to freelancing much easier. I do feel sorry for the people who have no choice to keep their commuting jobs - but encourage them to do the math and explore their options. It's ironic, but I now have more "take home" pay with a lower paying job based at home. Yes! I was holding on to a part-time job from college for “security” as I started freelance writing… until I sat down and realized that it was costing me $10 to get there and earn $45 after taxes. The gas and TurnPike tolls were killing our budget.

I first tried to transfer to a store closer to my home (no openings), and then tried to work longer shifts (wouldn’t allow me to). When that didn’t work out I gave my two-week’s notice.

I’m fortunate that we have my husband’s full-time paycheck, which made the transition to freelancing much easier. I do feel sorry for the people who have no choice to keep their commuting jobs – but encourage them to do the math and explore their options. It’s ironic, but I now have more “take home” pay with a lower paying job based at home.

]]>