Money or my life?

[MrDrool]

I have a dilemma.

I have two young children and am struggling to make a decision.

I currently work long hours and am generally away from home Monday to Friday. I find it hard being away from home but on the plus side I don?t struggle financially and can afford to treat my family. More importantly I can save towards the future and hopefully give the kids a better life (eg pay for Uni etc).

My dilemma is that I have been offered a job with 25% reduction is salary, but I would be working close to home and more standard office hours. I could still afford my mortgage etc but life?s luxories would be very limited and work on our house, repairs etc would take a long time to resolve.

What are your thoughts?

No contest - Life every time.

If you will have enough to pay your bills on the lower salary, then personally, I would take the new job. How old are your children?

As others said - life if you can still pay the bills. I made the same decision and I cannot be happier with it...

life! the aim of finding the right job is to have a happy life (whether your a workaholic or work to live, its the same aim!)

I'd go for the lower salary in your case.

Theres several things to take into account.

Who cares for the dc whilst you are at work? presumably from your user name its Mrs Drool? what is her opinion?

Commitments you already have,will everything bar house renovations stay similar? i dont mean expensive food I mean classes the dc may attend activities they already pursue.

Can you tickle along a little longer? and try to live on a reduced income to see if it really is feasible.

Would you be as 'happy' in a different position,would you be able to 'settle' into a new 'at home' lifestyle easily?

What other opportunities could you take from this 'downsize'? could you or your partner pursue any other classes/training that may bring you back to the higher earning you have?.

Personally I think once you are used to a lifestyle based on £££s it becomes very difficult to voluntarily drop it.

Thanks for your thoughts.

Kids are 1 and 3. I'd originally planned to reduce my income and working hours when the eldest goes to school but an opportunity has come up a few years early.

nickschick - I think you're dead right, although I desperately want to see more of my kids I am very worried about how a drop in lifestyle will affect me, them and DW.

I have to admit that at the moment I'm completely torn about what decision to take.

Life - no one ever lay on their death bed and wished they'd spent more time at work.

I had to make the same decision when DS was 1. I have never regretted it.

I speak as the child of a father who was largely absent from my childhood due to work. He was abroad/away about 3 weeks a month. Then he died when I was 23.

A 25% drop is a lot: but 40% of that will be tax, some will be NI. So cash in will drop by -very apprx - 15%. Still a lot, but could you save 15% on everything you buy without feeling any real pinch?
Is there of expenditure that doesn't greatly improve your quality of life? Clothes you wouldn't notice not buying, leftover food you could use rather than throw out, meals out that you could do without, heating in your house that you don't need, expensive Christmas presents that aren't much appreciated....etc.
It would be difficult to look back and realise that you spent the extra time working in order to have things you don't ultimately care about, whether thats material possessions or a feeling of pride in being The Great Provider.

You also need to bear in mind what future work and pay prospects would be in the future in both options. Also pension etc.