Originally Posted by DreamsInDigital
Cross-posted this in a discussion about SAH "welfare moms" in SAHM:
I work part time out of the home for 20 hours a week. I make $9.50 an hour which makes my take home pay about $700 a month.
With me not working, we got over $500 a month in food benefits.
While I am working we get about $100 in food benefits.
With me spending $35 a week on a babysitter and $70 every two weeks to fill up my gas tank plus the loss of food stamps, I am losing money to work, basically. I mean, if you count food benefits.
I am only open to working part time because I am in college full time, and I have very young children.
Should I quit my job?
Don't forget to factor in EIC. If your 8400 is the only income that's about $3400 in EIC, or about 285 a month, probably a bit more, they haven't made the schedule for 2007 yet. +500+100-140-140=605 compared with 500. (And people wonder why we have the EIC. Mind if I use this as an example to people?)
If it's not the only income, don't forget to factor in child tax credit. With four kids, you might be in a spot where you don't get much in EIC OR CTC.
Also consider how your kids do in childcare. I had one son who was much better off in the social environment of childcare, one who was miserable and would have been better off with mom.
Also, so you have a college degree (eventually). What does that mean without work experience? How will working now affect future income? What happens if something gets in the way of you finishing college? Work experience becomes even more important.
And what is your personal preference? Personally, working gives me a sense of pride that I just don't get when I'm home or even when I'm only going to school. It's also a sanity break. I'm a lousy housekeeper, and a mediocre cook, but I'm a great employee, and a much better mother when I am not around them 24/7.