Couplesand work
Transcript of Couplesand work
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Brittany Klein
Couples and Work:Just Trying to Make Ends Meet
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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
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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.
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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
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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
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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.
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Where do you fall?
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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
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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
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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
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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.
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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
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Work Hours and Family Life: Disadvantages of Shift
Work
More time with family, but less quality
Why?
Potential mismatch of hours
Marital conflict
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Work Hours and Family Life: The Demands
of OvertimeOvertime- typically defined as a person working beyond his/her normal 40 hour work week schedule.
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Work Hours and Family Life:
Coping with Unemployment
Blacks had the highest unemployment.
Asians had the lowest unemployment.
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Work Hours and Family Life:
Coping with Unemployment
Being married and having children
Only for women. Reverse effect for men.
Why?
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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?
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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
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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