Zatera Ul

Ann Althouse discusses staying home to raise children:

I wonder whether the decision to become a one-earner family is more available to those at the highest income level. Maybe not. These people may be the most likely to get addicted to the money. And surely, they are most able to pay for nannies and other child care. The less the woman makes, the less of a financial sacrifice it is when she stays home (assuming the partner makes a decent income), and in fact, one could come out ahead. Consider all the expenses of going to work: childcare, transportation, clothing, eating out.

Cleaning help, as well, for some. Also, increased income tax.

Even without children, there is plenty of work to be done at home. I’m lucky in that I work from home, and can tackle the housework in bits and pieces throughout the day.

The old Tightwad Gazette magazine and books have a lot of stories of women who did the math, and found out that they were actually losing money by working. Not to mention quality of life: compare convenience foods and take-out against real home-cooked meals. They also note that the money you save by doing the cooking, or whatever, yourself can be figured as an “hourly wage,” and that this wage is tax-free. The Complete Tightwad Gazette, by Amy Dacyczyn, is on my Essential Books list. It’s full of what I would call “practical economics”–figuring out true costs, comparing opportunity costs, making the most of the resources (sometimes known as “junk”) that you have, and putting your hard-earned money to the best use.