So, think you're digging yourself a hole, too?

For anyone who might wonder, after my last post, whether or not they are making any money as a second income earner, MSN Money has this great calculator that spells it out for you (you need to know how much you paid in taxes.) It calculates taxes, childcare, entertainment/food and other sundry expenses. According to the calculator, I made $4,970 a year working part-time. Because our situation is unique, in that we make money when we both go to school, the calculator does not factor that in, but quick addition shows $14,595 (what we'll save on student loan payments plus the GI bill) minus $4,970 still means an increase of $9,625 a year. This is a slightly different number than the one below, because I calculated the taxes myself in the previous post, and this time the MSN calculator did it for me. Regardless, we are increasing our income between $9K and $10K by me being home. Of course, that means I have to cook more meals at home and use fewer services or that money will quickly be eaten up. In short, we have to change our lifestyle. But I think we can do it, and I see this as an opportunity to save and payoff bills after the debacle of trying to sell our home this summer.