Would you trade relaxation for more money?

[Finallyonboard]

I’ve finally stopped snooping (after many months of enjoying the general chit chat from a distance) and decided to join as I need some objective advice. Feel free to be as blunt as you wish.

So my husband and I currently share child care and it’s working wonderfully well. We have a lovely life, have lots of time with DC and are coping well financially (not wealthy but well above breadline). I have the opportunity to double my salary and earn between £60 – 70,000 per year. I would use the money to pay off our mortgage, save for DC’s future and create a nest egg for us and then, probably, return to a job similar to my current one.

The move would involve more travelling, longer hours, less time at home with my lovely family and much more stress. My question is, would it be worth it for me, my DH and children to secure our financial future?

I don't think anyone can answer that for you.
I would say, if you do it, be very careful to bank the extra money as planned - so that you really do have the option to step away from it, you haven't changed your lifestyle financially.

I have recently increased my hours at work, after 4 years part time. I don't regret it as such - my choice, down to a role change that has benefits that are not financial.

I'm £500 a month better off in my take home pay, and intend to bank it all in pension. BUT: honestly? I would rather have the time off.

If I were you I would think about whether this is once in a life time opportunity, and whether it would further your career opportunities generally. If it ONLY has monetary value and you're comfortable enough now - I would say family life over money, every day.

I speak as someone who works away half the month. It's tough. I have a higher salary than if I worked locally - though I didn't choose directly in a situation like yours.

Being away a lot has a big impact. My social life suffers, I see less of my child (which is tough - day to day it's fine, but overall it's tough) and I get very little time to myself.

It all depends on your current situation. To me "well above breadline" means you can achieve an extent of financial security anyway.

And you don't say whether you're enthused by the job. If you are, it'll be easier to cope with the downsides. If the ONLY upside is money, I'd say don't do it.

It's very, very personal to each individual.
I think if you are confident you could return to the situation you are in now fairly easily, then it would make sense to do it - even if, in the back of your mind you set yourself a limit of doing it for 3 years or whatever, and that you specifically set yourself a goal of paying off the mortgage, and you don't alter your lifestyle overall to fit in with the new, double income. If you do start spending more and more, then it becomes harder to "cut back" once you return to the role you have now.

Another voice saying it's up to you. You have to be happy with the choice.

You're comfortable, not on the bread line. For me it would be a case of if DH or I dropped dead in 2 years' time would we, on balance, regret anything? If we both live for another 40 years would we regret the lack of money/opportunity?

It's a stress test and it's deeply personal and there's no wrong or right answer.

I would value the time a lot more. I had similar although was caused by illness but when I recovered and could return I decided to stay as we were and am so glad I did.