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Brittany Klein
Couples and Work:Just Trying to Make Ends Meet
This section is about:1. Basic Budgets
2. Dual-Earner Couples and Family Well Being
3. Work Hours and Family Life
4. Opting Out: Stay-at-home moms
5. Leaving the Workforce: Stay-at-home dads
Budgets... you need one too.
Basic budgets- the amount of money families need to manage at the most basic level.
What would your budget include?housing, food, transportation, childcare, clothing, personal care items, school materials, and taxes.
Sample Spending Plan(Not on the test... just for your own
knowledge)
Things to notice:
Types of expenses
Emergency Fund
Expenses will vary by location
Spending Plan- Expected Income and Expenses- Monthly (Based on 35,312 salary)
Flexible Expenses Projected Actual Difference Income Projected Actual Difference
Food HR Paycheck 2951 0 2,951
Groceries 280 0 280 Interest- PNC 0 0 0
Dining Out 80 0 80 Interest- Chase 1 0 1
360 0 360 Stocks 50 0 50
Personal Care Other 0 0 0
Medical Co-pays 50 0 50 Total Monthly 3002 0 3,002
Clothing- Business Attire
50 0 50
Clothing-Casual/Misc Attire
50 0 50 Periodic Expenses
Projected Actual Difference
Laundry/Dry Clean 10 0 10 Holidays 100 100
Other 0 0 0 Monthly Payment
8.33333333333333
0
160 0 160 Hair cuts 250 250
Transportation Monthly Payment
20.8333333333333
0
Bus Fare- Local 20 0 20 Birthdays 180 180
Train 40 0 40 Monthly Payment
15 0
Taxi 10 0 10 Christmas Gifts 200 200
Subway 50 0 50 Monthly Payment
16.6666666666667
0
Other 0 0 0 Total Monthly 60.8333333333333
0 60.8333333333333
120 0 120
Entertainment Fixed Expenses
Projected Actual Difference
Movies/Theatre 20 0 20 Rent 800 0 800
Sports/Concerts 20 0 20 Electricity 90 0 90
Alcohol 30 0 30 Gas/Oil 50 0 30
Free Shopping 40 0 40 Water/Sewer/Trash
30 0 30
Other 0 0 0 Telephone 40 0 40
110 0 110 Cable/Internet 80 0 80
Pets Savings
Food 0 0 0 Investments 50 0 50
Medications 0 0 0 Emergency Fund 50 0 50
0 0 0 Pay Yourself First
200 0 200
Gifts/Donations Total Monthly 1390 0 1370
Miscellaneous 0 0 0
Total Monthly 1500 0 1,500
Spending Plan- Expected Income and Expenses- Monthly (Based on 35,312 salary)Flexible Expenses Projected Actual Difference Income Projected Actual Difference
Food HR Paycheck 2951 0 2,951Groceries 280 0 280 Interest- PNC 0 0 0Dining Out 80 0 80 Interest- Chase 1 0 1
360 0 360 Stocks 50 0 50Personal Care Other 0 0 0
Medical Co-pays 50 0 50 Total Monthly 3002 0 3,002Clothing- Business Attire
50 0 50
Clothing-Casual/Misc Attire
50 0 50 Periodic Expenses
Projected Actual Difference
Laundry/Dry Clean 10 0 10 Holidays 100 100Other 0 0 0 Monthly
Payment8.33333333333333
0
160 0 160 Hair cuts 250 250Transportation Monthly
Payment20.8333333333333
0
Bus Fare- Local 20 0 20 Birthdays 180 180Train 40 0 40 Monthly
Payment15 0
Taxi 10 0 10 Christmas Gifts 200 200Subway 50 0 50 Monthly
Payment16.6666666666667
0
Other 0 0 0 Total Monthly 60.8333333333333
0 60.8333333333333
120 0 120Entertainment Fixed
ExpensesProjected Actual Difference
Movies/Theatre 20 0 20 Rent 800 0 800Sports/Concerts 20 0 20 Electricity 90 0 90Alcohol 30 0 30 Gas/Oil 50 0 30Free Shopping 40 0 40 Water/Sewer/
Trash30 0 30
Other 0 0 0 Telephone 40 0 40110 0 110 Cable/Internet 80 0 80
Pets SavingsFood 0 0 0 Investments 50 0 50Medications 0 0 0 Emergency
Fund50 0 50
0 0 0 Pay Yourself First
200 0 200
Gifts/Donations Total Monthly 1390 0 1370Miscellaneous 0 0 0Total Monthly 1500 0 1,500
A Few Happy Statistics about
WorkingThe average U.S. employee works 1,978 hours each year
About 3/4’s of all employees say they have little or no control over their work schedules.
Two-income families spend about 16% of their income on childcare.
Where do you fall?
Dual Earner Couples and Family Well Being
A few vocabulary words:
job status- a type or kind of job that offers some kind of prestige in an organization or community
Dual Earner Couples and Family Well BeingJob complexity- jobs are both challenging and stimulating
Job autonomy- employees are allowed a high degree of independence and self direction
Family well-being:
psychological health
high levels of self esteem
good physical health
low behavior/conduct problems
good social support
high marital quality & stability
good parent-child relationships
Dual Earner Couples and Family Well Being
Work Hours and Family Life: Shift Work
Shift work- working nonstandard hours such as 6:00AM-2:00PM.
How common is it?57% of dual earner couples (over 15 million) have at least one spouse who works these kinds of hours.
Work Hours and Family Life: Advantages
of Shift Work
Working fewer days each week
Having more family time
Getting more time to be away from a job
Work Hours and Family Life: Disadvantages of Shift
Work
More time with family, but less quality
Why?
Potential mismatch of hours
Marital conflict
Work Hours and Family Life: The Demands
of OvertimeOvertime- typically defined as a person working beyond his/her normal 40 hour work week schedule.
Work Hours and Family Life:
Coping with Unemployment
Blacks had the highest unemployment.
Asians had the lowest unemployment.
Work Hours and Family Life:
Coping with Unemployment
Being married and having children
Only for women. Reverse effect for men.
Why?
Opting Out: Stay-At-Home Moms
household work: staying at home in order to nurture one’s children
opportunity cost method- attempts value housework by asking “What would a person be paid in wage labor for one hour of household work?
market alternative cost method- estimates values of household labor by looking at what it would cost to pay someone else
What do you think?
Leaving the Workforce: Stay-at-
Home DadsStay-at-home-dad-have remained out of the labor force for at least one year primarily so they can care for their children.
Three circumstances that contribute to the increasing numbers:
1. Economic Considerations
2. Divorce
3. Some are gay men
Review: were you listening?
If paid, stay-at-home-moms would work approximately 50 hours a week and earn around _______ annually.
a. $46,000b. $64,000c. $88,000
d. $134,000
Answer: D
