The entire time I’ve been married, both my wife and I have worked.  At times I have made more money than she, and at other times she was the primary breadwinner.  It didn’t bother me either way - after all, who could be mad that their wife was making good money?  Every man should be so lucky.

Our lifestyle choices have always followed the fact that we both work.  Two car payments comes to mind - we’ve pretty much always had at least two car payments ( 3 for a time ) - we haven’t known any other way.  I’m not saying that we “need” two new shiny new cars complete with payments.  We also don’t need to eat out as often as we do - though it’s convenient with both of us working.  That’s just how we’ve done things.  Until now, that is.

Times may be a changin’

The past couple months have been filled with discussions between my wife and I.  The topic?  Her quitting her job, and being a housewife for a few months.  After that, college.  From every standpoint except finances, I’m 100% in.  After all, how nice would it be to come home to a delicious home-cooked meal every day?  And my wife is Hispanic… boy can she cook.  How great would it be not to have to worry about washing dishes… or doing my laundry… ironing my clothes…. etc etc.  All those household chores that need to be done every day after a long day at work.  With my wife staying home, they would all be handled.  And of course college is a great idea - she can study to figure out her desired career, and then pursue her degree.  I’m in.

What about the money?

Ahhh.. the money.  Fortunately I’m making more than Mrs. Llama these days.  Plus I have my side business doing fairly well.  And she also gets a monthly payment from the VA for an injury she suffered while deployed on active duty.  With her quitting, we would lose roughly 28% of our take-home pay.  A big chunk, to be sure.  We would also lose health insurance for our 9 year old.  I can add him to my policy at work for big bucks, but we may go with a separate policy.  Either way, that’s an extra expense.  Also, no more 401(k) at her job - so less retirement savings, and less tax sheltered money.

Can we do it?

That’s a big maybe.  If we cut back to the bone.. no more eating out.. no more frivilous shopping… no more credit cards ( envelope system )… yes.  We haven’t been able to stick religiously to a budget in the entire time we’ve been married, I’m sad to say.  But I have locked up our credit cards, and gone to cash… midway through this month.  I want this to work, and am willing to sacrifice.  We may end up *gasp* selling my car.  If we can break even on a private sale, I’ll consider it.  The replacement will likely be something new-ish, with low miles and a factory warranty.  I’m not willing to risk driving a $2000 beater, and the troubles it can bring.  But lowering my car payment significantly will help offset the increased fuel usage it will bring.  Remember, I drive a Civic Hybrid that gets 50 MPG.  Of course, my wife not working for a few months will cut back on her driving too.  So it may roughly even out until she goes back to school.

Quit beating around the bush - are you going to go for it?

Simple answer - I don’t know.  It’s looking pretty sure.  The timeframe I don’t know about yet….. perhaps as soon as September… maybe closer to December.  It will be tough, and will require some pretty big sacrifices.  But all in all I think it will help us become more responsible with our money…. even if it means cutting back on investing for awhile.  For a more peaceful life, and a wife in college - I can live with that.

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