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PRINTER FRIENDLY VERSION
Evidence indicates abuse outside the family occurs most often when parents are absent and a child is trusted to the care of others. Yet for many, economic necessity seems to conflict with the responsibilities and time demands of parenting. How can one be both provider and protector? Single parents have few options: day care, babysitter or latchkey children.
But, for two income households, the situation is further complicated by the question "Should we both work?" Many parents ask themselves daily, "Could I afford not to work?" "Could we get by on one income?" Some are concluding that the cost of working outside the home is too high; the rewards, too meager. What are you really earning?
The following cost/earnings analysis may assist you in determining what your true earnings are after all working expenses are deducted from your total earnings. Maybe it's costing too much for both parents to work outside the home.
| I. Figuring your total wages. |
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A. Determine your gross average hourly wage
(before taxes, or benefits are deducted)
(Annual Salary divided by 52 divided by hours worked in a week).
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$_________ |
B. Multiply hourly wage by the number of hours worked to compute gross weekly wage.
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__________ |
C. Deduct cost for estimated illness (self and family)
(Six days each year is about one hour each week)
(Subtract C from B)
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__________ |
D. Adjusted weekly wage subtotal.
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$_________ |
| II. Figuring Your Actual Costs. |
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A. Federal Taxes (Average 28%, filing jointly, two income, .28 x weekly wage).
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__________ |
B. Social security (Average 7.65%) .0765 x weekly wage.
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__________ |
C. State taxes (Average 5%) .05 x weekly wage.
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__________ |
D. Child care (Average $135/week per child).
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__________ |
E. Transportation
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1. Work
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a. Automobile @ $.35 mile/week; or,
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__________
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b. Other (use actual weekly costs)
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__________ |
2. Child care
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a. Automobile @ $.35 mile/week; or,
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__________
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b. Other (use actual weekly costs).
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__________ |
F. Work wardrobe (Standard office average $1200/yr. divided by 52) (Calculate cost of uniforms, outfits, shoes, accessories for entire year; divide by 52)
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__________ |
G. Food costs (Count only costs of meals and snacks greater than you would spend at home).
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__________ |
H. Total costs of working (subtotal)(add lines A-G)
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$_________ |
| III. Determining Your Actual earnings |
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A. adjusted weekly earnings (from I.D)
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__________ |
B. Subtract total costs (from II.H).
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__________ |
C. Adjusted net weekly earnings.
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__________ |
D. Calculate hours in preparation for work, work or child care transportation.
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__________ |
E. Average hours worked each week
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__________ |
F. Total hours (add III.D and III.E)
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__________ |
G. Divide (III.C) by (III.F), enter below
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__________ |
H. Your Actual Hourly Wage
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$_________/hour |
Summary: An average parent with children in moderately priced day care must earn $9.00 per hour simply to pay the costs associated with working outside the home. This figure suggests that those who work outside the home for less are actually losing money for the family.
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© 2008, 2007, 2006, 2005, 2004, 2003, 2002, 2001, 1997, 1996, 1995, 1991, Survivors And Victims Empowered, Lancaster, Pennsylvania.
No part of this publication may be reprinted without permission unless used in an article reviewing this publication. The organizations listed within this publication are not necessarily endorsed by Survivors And Victims Empowered.
Survivors And Victims Empowered
1725 Oregon Pike, Suite 106
Lancaster, PA 17601
(717) 569-0550 voice
(717) 569-3039 fax
http://www.childprotectionprogram.org
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