How Much Money Is Enough?

at-home ddad

Dear Mr. Dad: Right now, I work fulltime and my wife is home with our twin preschoolers. However, after some discussion, we realized that she’d prefer to be working and I’d rather be home with the kids. Where we run into challenges is that my wife feels she can’t support us on the same financial level we are at now. Does who stays home have to be a financial decision or, assuming we can make ends meet and pay our bills with my wife working and me at home, is there any reason for us not to do that?

A: What an interesting situation. In most families where dad is at home and mom is the primary breadwinner, the decision to reverse traditional gender roles was made because mom earns more than dad. In your case, though, you and your wife are making your decision based purely on what each of you would actually rather be doing. Congrats to both of you for having the courage to even entertain the idea.
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What parents need to know about money

No one ever wants to talk about money issues because they’re afraid it’ll lead to a fight. Well, guess what? Not talking about it could lead to a financial meltdown that could destroy your relationship. Fight now vs. divorce later? Pretty easy choice. Great article in the WJS here: http://online.wsj.com/article/SB10001424052970203370604577263602243736504.html