should I take a promotion or continue to enjoy my hobbies and/or start a business on the side.?

I have been offered a manager position at my company. The job pays about $23,000 more than I earn now. It will be a challenge but I've worked hard to earn it. Here's the problem. If I take the job I will not have time for the hobbies that I enjoy. I would be expected to work up to 50 Hours a week. One or more of my hobbies could be turned into a very enjoyable part-time business. The major reason for taking the job is that my wife could quit her job and spend all her time with our kids. If I don't take it, she would have to work in an unfulfilling job that she hates and our kids will continue to have to go to daycare. Any serious thoughts that people have would be very appreciated...thankyou