What Can I Afford?
Suze takes a look at all of Megan's finances. When she is working, Megan and her husband's monthly income after taxes is roughly $9,000. They have monthly expenses of $6,583; monthly savings of $2,417; and an emergency fund of $6,000.
But if Megan quits to stay at home, their monthly income would drop to $6,666. Their monthly expenses would be $5,783; their monthly savings would be $883; and they would keep their $6,000 in nonretirement savings.
Can Megan afford to be a stay-at-home mom?