Comments on: Back To Living Off One Salary Again! (Womp Womp)

By: Niki

Niki — Fri, 09 Aug 2013 14:59:53 +0000

In reply to Pauline. I agree with you about commuting/daycare. However, I know your point about tax brackets is made in the US quite frequently and it is fundamentally misguided. I'm not sure where you live, so this may be irrelevant to your situation. In the US, moving to a higher tax bracket does not impact the taxation of funds below that bracket level. Let's take an example based on joint filers in the US where rates are 10% for up to $17,400 and 15% for $17,400-70,700. The argument that making 25,000 will push you to a higher bracket is technically correct, but it is important to remember that the first 17,400 is still only taxed at the 10%. So you pay 1,740 on the first 17,400 and 1,140 on the 7,600 (25,000-17,400). However, at the end of the day, you still added 6,460 of income thanks to being "pushed" into a higher bracket. Again, can't speak for your taxation system, but in the US, this point is flawed.

By: Mike Carlson

Mike Carlson — Mon, 27 May 2013 01:57:18 +0000

Good luck with having to bear a single paycheck for a year or more. It will be a lot of sacrifice, but for sure things after that will a lot better.

By: J. Money

J. Money — Sat, 25 May 2013 20:12:08 +0000

In reply to Catherine. Well, congrats then! On both the baby and better finance management :)

By: Catherine

Catherine — Sat, 25 May 2013 19:20:19 +0000

This did happen to us. When I went on my maternity leave for a year I lost 60% of my income. It wad the best thing that happened to us. Proved we could live on a lot less!

By: J. Money

J. Money — Sat, 25 May 2013 13:34:28 +0000

In reply to Andi B.. True dat.

By: Andi B.

Andi B. — Sat, 25 May 2013 03:01:47 +0000

The best part about working from home is when gas prices skyrocket in the summer, you just shrug and say “eh, whatev.”

By: J. Money

J. Money — Thu, 23 May 2013 21:36:07 +0000

In reply to Financial Black Sheep. Woahhhh if you can survive off that then you're REALLY good! Haha... Which I know you are, or else I'd be trying to offer advice ;)

By: Anton Ivanov | Dreams Cash True

Anton Ivanov | Dreams Cash True — Thu, 23 May 2013 00:28:47 +0000

Better get to working on your online business 200%! But in all seriousness, you bring up great questions about the possibility of loosing some (or even half) of your income. I would like to think that my finances are set up to handle that, but I better take a closer look now :)

By: Financial Black Sheep

Financial Black Sheep — Wed, 22 May 2013 18:20:32 +0000

I am handling a 100% pay cut as of right now. I am glad I am debt free. Life just happens sometimes, but I know I can make it :)

By: J. Money

J. Money — Wed, 22 May 2013 01:59:02 +0000

In reply to pd. That's pretty good though! Not many people can survive a 50% cut :)