Investing Dividends Canada Winnipeg personal Finance blog jordan maas

2 Incomes is better than 1….or is it?

Just got confirmation this week that my wife has accepted a job and will be returning to work in about a month.  Her maternity leave will be coming to an end in a couple of weeks and although the extra income will obviously help – can’t say I am 100% happy about it.

The Pros:

  • Increased monthly family income
  • Company has a Retirement matching plan
  • Wife will get some much needed adult interaction/time out of the house
  • Yearly wage increases, benefits, and more

The Cons:

  • With both of us working, we will now be forking over between $12,000-$15,000/year in childcare costs. (luckily get some tax relief on the expense)
  • Her job requires her to stay an extra hour later than mine, which means unless we get a second vehicle, I’ll be picking up the kids each day and she will have to bus home.  Not too bad in the summer, but -40 winters will suck.
  • Leaving the kids with a stranger for 8+ hours a day 😦

The hardest part is definitely going to be leaving the kids with someone we don’t know for so long each day.  On the plus side, it will be nice to have some interaction with other kids, and I am genuinely curious to see how they will interact with new kids and strangers.

This change is probably extra difficult for me because when I grew up my parents were able to split their shifts so that we never had to go to daycare.  So the whole daycare thing is especially foreign to me.  I know in the long run it will be best – the wife will be happier, and better off, and once the kids are in school we should really notice the difference in dual income – but the selfish side of me is still going to miss having the kids home everyday.

Anyways, noticed I haven’t posted much this month & just thought i’d share what’s currently going through my head, as we enter this next chapter of our lives.  I assume these are pretty normal feelings, but what the hell do I know…

The rest of the month has been good aside from the whole family (except me) getting a cold.  We are hosting an Easter dinner this weekend, the Jets are officially in the playoffs (got my playoff tickets in the mail yesterday)!  Also received my first dividends from 2 new companies (Western Forest & Power Corp).  Full monthly update coming in the next few days!

Cheers!

 

 

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7 thoughts on “2 Incomes is better than 1….or is it?

  1. Awe..! That’s really rough- they are going to be big changes for sure. Meal planning will be tough too and both of you will likely be exhausted to cook.

    Where are your kids going to daycare? A family daycare or a licensed one? It’s tough. I have a few months left on maternity leave and I’m not looking forward to going back to work. But at the same time looking forward to the mental stimulation. Taking care of your kids is tough work- running a household is tough work- my kid started eating three times a day and it’s exhausting prepping meals all day! I always say to my husband- I don’t know which one (staying at home or working) is more exhausting- they are both exhausting in different ways I think.

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    • Personally I think its more exhausting to be home with 2 kids for 8 hours….perhaps just because I am used to work, but I know I always feel drained even after a few hours…

      The meal planning will be rough..but I think may also be fun – and should hopefully help us eat a little healthier. The plan is to start using the slow cooker a lot more too…so we will see how that goes:)

      We had a daycare lined up and the girl called us to say she was closing it down- so now we have a couple new ones lined up…doing interviews this week….wish us luck…we are going to need it:)

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      • Get an instant pot!! It is the BEST THING ever. I am an instant pot addict. It is the best thing for busy families, AND invented by a Canadian in Ontario.

        My slow cooker was on the fritz and my instant pot has replaced my slow cooker. I use it at least 3-4 times a week, even to boil eggs, to make mashed potatoes, to cook meats etc.

        Liked by 1 person

  2. Hey man. Go game on now jets vs leafs. Sucks to see leafs lose dermit early and down a d man for the game. Hopefully hea back soon.

    The daycare thing always sucks and it costs so much you wonder if its even worth it for one to go back. Like you mentioned though its exhausting staying home with the kids all the time though. The social interaction is great for the kids though.

    Best of luck on the transition!

    Like

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