I work part time for the public sector. DH works full time in construction and earns double what I do but is self employed and work can be unpredictable although he has worked pretty much consistently for years.
I have the chance to increase my hours, getting a few hundred extra a month. This is a safe wage, hopefully recession proof and we can pay all our outgoings from it. No luxury’s but we own our house with mortgage and have savings, so not too stressed financially, but not really progressing either.
If I do this, he would need to work less to cover childcare as we have no grandparent help etc due to covid. He would earn much less than he does now and as a family, our income would be reduced.
If he didn’t, we would really struggle for childcare, it would be impossible pretty much.
Given the current climate, would you do this? It would mean if there is a recession and his industry suffers, we can definitely pay our bills, but would also mean we may not make as much if his industry carries on doing well as he would have to turn work down to accommodate my hours.
It would also mean in the even of further lockdown, we have a set income.
It’s really hard to know what to do, any advice would be appreciated!