When two-income families switch to a single wage
Monday 8 November 2004
Deep intakes of breath followed by muttered comments about "how will they afford it" can be heard when a couple announce their impending parenthood to childless friends. Likewise when redundancy strikes, a couple may feel that Armageddon is upon them.
By The LandlordLosing one income even if just for a period of months seems an unattainable luxury for those used to living in this double-income economy. Yet the suburbs are full of families that have learned to do just that.
Intellectual property lawyer Iva Wright and her husband have had to re-prioritise their spending after Iva gave up her US$100,000-a-year job and husband Darren exchanged a secure salary as an accountant to buy into the New Zealand Business Coaches franchise.
"The big picture for me is that the pendulum has gone from managing our surplus cash to debt management," Iva says. "We are surviving to cover our bases."
Read More - Opens in a new window
Commenting is closed
There’s a major housing market downturn coming and it’s likely to reduce the number of investors in the market, according to ANZ economists.
Tales of strife and problems abound in the commercial property world these days, but the impact of the Covid-19 pandemic has not been as devastating for all commercial players.
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.