I’m Afraid We Won’t Survive if My Wife Quits Her Job

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Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 18 January 2025

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Transcript

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0:00.0	brought to you by the every dollar app start budgeting for free today the reason i'm calling today
0:07.8	is uh my wife would like to quit her job and stay home with the kids uh about 10 years ago we built
0:14.4	a house on the family farm which i now run um we've got a little over two thousand000 a month mortgage. And I'm just afraid if she quits,
0:26.5	we're barely going to be able to pay all the bills. We also have, we have three children.
0:32.5	The two older ones are both in Catholic school because we didn't want them in the public schools here locally.
0:40.0	Okay, so what is your income?
0:43.2	What do you make a year on running the farm?
0:46.9	Well, I also work full-time off the farm.
0:49.3	Oh, good.
0:49.7	What's your income if she quits?
0:52.2	So my income pay from the job is a little north of $100,000.
0:57.0	It's about $5,200 a month pay home.
1:02.3	That's her.
1:03.2	What, whoa, whoa, whoa, whoa.
1:04.3	$100,000 is $8,300.
1:07.1	You don't have $3,000 in withholding.
1:10.0	Well, there's also $k and uh health insurance and
1:16.1	okay how much is going into 401k uh 15% right now are you in baby step four you're out of debt
1:24.0	except the house uh all but my car which which is a $5,000 loan, I drive it for work.
1:32.2	That's the only thing.
1:33.0	And how much thing do you have in savings other than your 401K?
1:39.7	I'd have to check.
	...

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