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Forum
-> Household Management
-> Finances
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amother
OP
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 Wed, Jul 06 2022, 2:08 pm
I currently make about $50k but have an opportunity to earn $70-$80k. However, if I take this job it adds more responsibility, higher expectations, and less flexibility. I will have to pay any extra I make towards tuition and taxes. I wouldn't get a tax refund, I would owe taxes. I would get a much lower tuition break.
For those of you who make similar salaries, did you find that you had any extra financial freedom with a salary increase or did it go straight to taxes and tuition?
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amother
Babyblue
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Wed, Jul 06 2022, 2:10 pm
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It depends on how many kids you have for taxes but I think this is the sweet spot where the extra raise may not help your bottom line yet but if there is room for future growth it's worth taking it so that you can eventually have extra breathing room.
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amother
Quince
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Wed, Jul 06 2022, 2:22 pm
| amother [ Babyblue ] wrote: | | It depends on how many kids you have for taxes but I think this is the sweet spot where the extra raise may not help your bottom line yet but if there is room for future growth it's worth taking it so that you can eventually have extra breathing room. |
This. Don’t get stuck in the govt program rut. It’s never worth it.
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amother
Ebony
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Wed, Jul 06 2022, 2:28 pm
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My sister declined her raise. There wasn’t any predictable room for growth and it would go directly to taxes or insurance. She doesn’t get discounted tuition so I can’t answer that…
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amother
Snapdragon
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Wed, Jul 06 2022, 2:33 pm
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Why wouldn't you get a refund at 80k? Child tax credits phase out at 150 as far as I know.
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amother
Maize
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Wed, Jul 06 2022, 3:19 pm
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The question is, how much will the extra pressure affect your life? My boss has expressed to me that she wishes she had never taken such a high paying high pressure job because now it's too much but her family has grown to rely on that level of income.
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amother
OP
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Wed, Jul 06 2022, 3:24 pm
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I want to wait a few years until my kids are older to take a higher position. I do not want to deal with added stress for money I can't even enjoy, as I likely would get a much lower tuition break. If you make only $10,000-$20,000 more, it all goes to tuition. So it's not like I could afford better food suddenly. I am leaning toward waiting until my kids have less years of school to earn more.
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