Re: How Much Could We(The Couple) be affected ?
Master's in philosophy?
Its competetive to get a job in teaching philosophy with that degree - if you interview well and you're stronger than other masters' students and you're at a good institution that is KNOWN for their phil dept, then you could get a job teaching community college. At least, that's how it is in the states. A very good childhood friend of mine now teaches at comm college after her masters + 1 yr experience in college administration --> only now with the community college job of 3-4 years and reapplying every year into phd programs, did she actually get into a phd school. Even then, she'll probably still teach at the community college - she'll just get 10K more.
So, yeah, do a cost ratio analysis of how much more money you're going to make and is it worth it. Definitely do it if its an intellectual desire, just have her close to you.