Two Incomes and Still Broke?: It's Not How Much You Make, But How Much You Keep

by Linda Kelley

Book Overview

For dual-income couples who wonder where all the money goes, this easy-to-follow financial guide measures the real value of a second income, offering lively examples from couples with various salaries... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0812929896
• ISBN13: 9780812929898
• Release Date: January 1998
• Publisher: Three Rivers Press (CA)
• Length: 219 Pages
• Weight: 0.48 lbs.
• Dimensions: 0.7" x 5.5" x 8.3"

Customer Reviews

This book changed my life forever!

I saw Linda Kelley on a Prime Time news show several years ago. She was doing a segment on her book. She looked at a family with both parents working and barely making ends meet. Both mom and dad were stressed and never got to spend time together as a family. Upon further inspection, it was actually costing this family for both parents to work! I figured out my true salary at the time and found out I was only taking home $50/week after all my expenses. I cried for hours and then realized I could do something to change it. Now, two children later, I'm still a stay-at-home mom. My family and I owe a huge thank you to Linda and her book!

Surprising Information!!!

When I first picked up this book, I was skeptical of the value. However, after doing the analysis on my own household when we lost our family business and I needed to determine what a second income was worth to us, I was really surprised. In my situation it seemed that the most devastating effect on the second income was income tax. WOW - it was half gone! Then the work related expenses I never thought to consider, because I perceived that they were neglible, really added up. You just won't believe all this unless you look at it for yourself. Most people shrug this information off because they don't really see it, and they think they have a handle on this. It isn't what you make, folks, it is what you keep. That came through loud and clear in this book. You might have a second income of $60,000 a year and be losing money and not realize it. This book should be reprinted and promoted more heavily in these economic times.

insightful, practical, non-biased advice

If you're trying to decide of you can live on one income once the baby is born, you need this book. Unlike a lot of similar books, this book doesn't try and sway you one way or the other. (In other words, some families may find they're better off with one income, some families will complete the same worksheets and find they do indeed need two incomes.) It offers little in the way of philosophical, social or political justifications for one parent at home. It provides a way that each family can analyze what they spend and if two incomes is necessary. Some families may be surprised to see that having a second salary may cost them more! The points about taxation were especially revealing, and you don't have to have your masters degree in economics to follow this book!

Really opened my eyes!

I was amazed at how much a second income could really cost after reading this book. My husband and I don't have any children yet, we are both professionals with advanced degrees, but after reading this book and doing the math, we realized that we would be better off financially if I quit my full time job and worked out of my home part time. I quit 4 months ago and financially we're in just as good of a position as we were before, and I am much less stressed. Now I'm able to shop for bargains, cook healthy, less costly and better tasting meals and we are both much happier. We would have never done it without this book!

Very Resourceful

I am considering staying home full time with my first child. I purchased and read this book beforehand so my husband and I could be better prepared for the obvious -- less of an income. This book is very resourceful to get back or keep on track with your finances. With the help of this book, we were able to concentracte on paying off most of our debt before I finally gave my notice about a year later.