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Reply to "Interested in hearing stories about spouse leaving workforce or going part-time"
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[quote=Anonymous]You make plenty of money to be able to support a stay at home spouse. But you and she will need to identify what will be cut if her income goes away. If you track your monthly expenses and figure out what you are spending in each category you can decide which areas you want to reduce to make up for the lack of her salary -- groceries? vacation? gifts and entertaining? Will your mortgage go down because you move somewhere cheaper? Will the preschool expense go away? You say you don't expect her not working to create savings for your family... but what do you guys think will happen with her lack of income? Will you need to reduce your savings rate? I would ask your wife to go over your monthly budget with you and figure out where you guys would cut back at least $6000 monthly if she leaves work.[/quote]
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