Stay At Home Mom...Is It Possible?

Does Jeremy have too much house for his salary, with a new baby on the way?

QUESTION: Jeremy and his wife are expecting a baby.  His wife wants to stay home with the baby, but Jeremy is concerned that they won’t make enough to make the house payments on his salary.  They would bring home $3,600 a month and owe $1,000 each month on the house.  Is that too much house?

ANSWER: Your income is not out of line with your house payment.  If you want to practice to see if this is going to work, just live on your paycheck and bank your wife’s paycheck until she leaves her job.  You also need to remember that there are several expenses that will not be there once your wife is staying home.

If this is something that’s important to your wife, it is worth the sacrifice.