Dosh dilemma: Marcus’s job promotion predicament

Marcus has been offered a promotion at work that comes with an extra £7,000 a year. It's the opportunity he's worked hard for, and the extra money would certainly help.

But it would mean longer hours, more responsibility and less time at home with his two young children.

His partner thinks the pay rise could make a real difference. They could finally start getting ahead instead of just getting by. They could build up some savings, enjoy the occasional family holiday and stop worrying quite so much every time a bill lands on the doormat.

Marcus isn't so sure.

He's worried he'll miss school plays, bedtime stories and weekends together. His children are only little once, and he doesn't want to look back in years to come wishing he'd spent more time with them instead of at work.

So, should he take the promotion, or turn it down?

Well Marcus, this is one of those decisions where there isn't a right or wrong answer. It all comes down to what matters most to you and your family.

But before making a decision, you should ask yourself how much difference will the extra £7,000 actually make?

Once tax and national insurance have been deducted, you'll take home less than the full amount. Work out what the extra money would mean for your monthly budget and whether it would genuinely ease financial pressure, or give you a bit more breathing room.

Sometimes accepting a busier role for a few years can put you in a stronger financial position for the future. On the other hand, if the longer hours are likely to become permanent, it's worth thinking about whether that's the life you want.

Could there be a compromise?

Before saying yes or no, talk to your employer. You might be able to negotiate flexible hours, occasional home working or an earlier finish on certain days. You don't know unless you ask.

Talk it through

It's important that you and your partner are honest about what you both want.

You might be focused on having more time together as a family, while your partner is feeling the stress of rising household costs. Neither of you is wrong, you're simply looking at the situation from different angles.

Only you can decide where the balance lies.