Two Incomes and Still Broke?: It's Not How Much You Make, but How Much You Keep [Paperback]

Linda Kelley (Author)

Book Description

Publication Date: April 28, 1998

For dual-income couples who wonder where all the money goes, this easy-to-follow financial guide measures the real value of a second income, offering lively examples from couples with various salaries and job situations and showing them how to weigh their options and decide which financial arrangements work best.


From the Hardcover edition.

Editorial Reviews

From Library Journal

Home economist Kelley has written a helpful guide for parents thinking about taking a job outside of the home. Many couples consider only the increased income from a second job and do not take into account the job-related expenses that cut into that second income. Kelley provides 12 chapters on how to figure the additional expenses a family can incur when both spouses work outside the home. In addition to the most obvious expenses of childcare and taxes, which are covered thoroughly, there are increased transportation costs, the cost of time-saving conveniences such as house cleaning and laundry services, increased food costs because there is less time to prepare meals at home and because the new working spouse eats lunches out, and the trend to spend more money because you make more money. This is a timely and well-written addition to any public library collection.?Joel Jones, Kansas City P.L., Mo.
Copyright 1996 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

From Booklist

Feature reporters trying to personify economic hard times will often profile a family no longer able to get by on an income that only a short time before might have seemed more than adequate. These stories, though, invariably generate a counterstorm of protest, evoking little sympathy from those making do on even less. Kelley's title may have the same effect, but she introduces a "new math" to show that there are, in fact, many hidden costs involved with second incomes; and she effectively demonstrates that one plus one does not equal two in a dual-income household. Chapters on the costs of child care, personal upkeep, transportation, lunches and coffee breaks, inefficient and hurried shopping, time-saving conveniences, self-rewards, taxes, etc., help calculate the added expenses a second wage-earner can incur, so that couples can compare costs versus benefits. Kelley offers helpful, eye-opening observations. David Rouse --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Paperback: 219 pages
• Publisher: Three Rivers Press (April 28, 1998)
• Language: English
• ISBN-10: 0812929896
• ISBN-13: 978-0812929898
• Product Dimensions: 8 x 5.5 x 0.7 inches
• Shipping Weight: 8 ounces
• Average Customer Review: 4.6 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #1,959,872 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

8 of 8 people found the following review helpful:

4.0 out of 5 stars Very Resourceful, March 30, 2000

By A Customer

This review is from: Two Incomes and Still Broke?: It's Not How Much You Make, but How Much You Keep (Paperback)

I am considering staying home full time with my first child. I purchased and read this book beforehand so my husband and I could be better prepared for the obvious -- less of an income. This book is very resourceful to get back or keep on track with your finances. With the help of this book, we were able to concentracte on paying off most of our debt before I finally gave my notice about a year later.

6 of 6 people found the following review helpful:

5.0 out of 5 stars Really opened my eyes!, May 21, 2001

By A Customer

This review is from: Two Incomes and Still Broke?: It's Not How Much You Make, but How Much You Keep (Paperback)

I was amazed at how much a second income could really cost after reading this book. My husband and I don't have any children yet, we are both professionals with advanced degrees, but after reading this book and doing the math, we realized that we would be better off financially if I quit my full time job and worked out of my home part time. I quit 4 months ago and financially we're in just as good of a position as we were before, and I am much less stressed. Now I'm able to shop for bargains, cook healthy, less costly and better tasting meals and we are both much happier. We would have never done it without this book!

3 of 3 people found the following review helpful:

4.0 out of 5 stars Especially useful for families with kids, October 25, 2004

By 

K. Corn "reviewer" (midwest, United States) - See all my reviews
(VINE VOICE)    (TOP 100 REVIEWER)   

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This review is from: Two Incomes and Still Broke?: It's Not How Much You Make, but How Much You Keep (Paperback)

If you're having trouble living on one income, espcecially if you have kids, this book simplifies the process of figuring out whether you'll truly benefit both financially and emotionally from working outside the home. Here's why:

1. The author gives detailed worksheets for all sorts of extra costs associated with working, from the expected (taxes, work clothes) to the unexpected (extra hosiery, meals outside the home, guilt costs)

2 Real life examples are given, showing the real benefits (or lack of them) from an extra income. If one person earns $50,000, for example, and another earns $20,000, the extra income can well be eaten up with extra taxes, child care, reduced time (making it more likely that someone will have to be paid for housework or other chores) and more.

3. Proof is povided that indicates that an extra working parent can actually put families in an economic hole - or deepen the one they're in.

The author has worked outside the home and went back to work when her kids got older. This book is not a diatribe against working moms but a detailed examination of the realities of having that extra job. Clear, logical and well-written, this one is a must-have for anyone considering work outside the home. If you don't have kids, this book may not appeal to you, since most of the examples do relate to working parents, not childless couples.