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Note : This is class exercise
Valeria Ramirez was offered a job as a credit analyst, she and her husband, Derek, filled out Worksheet 1.2 to assess the net monthly income from her paycheck, both with and without the impact of employer-paid benefits. Valeria had been staying home with their three children, but now two were in school all day. The couple listed only those expenses that directly related to the second job and made sure not to include personal expenses that would exist even without the second job. Valeria’s job offer included good employer-paid benefits, with a better health insurance plan than the one Derek’s employer offered. Taking these benefits and the job-related expenses into account, the Ramirez family’s net monthly income would increase by $3,440 a month, or $41,280 a year. Without benefits, this amount drops to $1,808, or $21,696 a year. These numbers provided the information that the Ramirez family needed to discuss the pros and cons of Valeria’s job offer. They took into account not just the higher total income and out-of-pocket costs but also the intangible costs (additional demands on their lives, less time with family, and higher stress) and benefits (career development, job satisfaction, and sense of worth). They decided that the timing was right and agreed that they’d use the second income to increase their college savings accounts and build up their other investments. This would provide greater financial security in these uncertain times if Derek were laid off from his research job at a biotechnology company.
ws 1.2 Analyzing Second Income.xlsx

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