Topics: Salary · All topics
Jon PaulParis, France

I'm having problems making ends meet at the end of every month. I have a good job and make a reasonable salary, but have been divorced twice and am required to provide financial support for my previous wives. I'm in my third marriage and have two kids. Do I need to change jobs?

Daniel's advice

There's a simple solution to an economic dilemma of this kind — either make more or spend less. However, as obvious as that sounds, reality makes it much more difficult to do. With fixed expenses, it's hard to spend less. You can perhaps petition the court to reduce the payments to your previous wives now that you've remarried, but this may not be possible. You can cut out any nonessential expenses you might have, such as dining out and vacationing, but this also may not be an option and certainly would make life more tedious.

You're left with four other possibilities. Your spouse can work if she doesn't already to help balance the budget. Depending on the ages of your children, this might not be feasible. You can move to a less expensive area and commute to your job. This will involve a lot of change and likely mean more time away from the family, but it's a possible way to lower your monthly expenses.

The solution that requires the least change for you and your family is to find ways to increase your salary at your current job. You may be able to do this by adding more responsibilities to your job so it will merit a raise. If that isn't possible, you may need to look for a new job altogether. This job will have to pay more than you currently make to allow you to get a handle on your present economic crisis.