Can I Afford to Stay Home?
February 7, 2007
First and foremost, if you are considering staying at home full time with your children, you and your spouse need to take a serious look at your monthly budget and determine where you’ll have to cut spending in order to stay home. (Be sure to factor in areas where you might save money by staying home too, i.e. clothing, childcare, tolls and parking, etc.). The mistake a lot of moms make is they leave their job, give up their salary and continue to spend the same amount of money.Once you settle on all the household expenses and other family necessities, consider adding a line item for these three things:
- Fun Money: Stay-at-home mom doesn’t really mean you stay at home all day, every day. You’ll want to meet up with other moms for lunch, take the kids to a movie or check out the newest inflatable fun place. This all takes cash!
- Babysitters: Sure, you are a full time mom, but you’ll still have hair appointments, doctor visits and the need for some mommy time, so you may need some extra cash to pay a babysitter every now and then.
- Preschool: So, the kids aren’t going to daycare anymore and you are saving a bundle, but they’re going to need some preschool. And, this can be pricey. Check out church programs, private schools and montesory programs and then determine what’s right for your family.
It takes discipline to change your spending habits and it’s not something that;s going to happen overnight. You might even want to consider practicing living on one salary for a month or two while you still have the safety net of the second income. You’ll probably learn a lot during this practice period that will make your better prepared for the real thing.
Transitioning from Working Mom to Stay-at-Home Mom
February 7, 2007
When I first decided to stay at home with my children, I became friends with a wonderful group of women from my daughter’s preschool. At the time, we all had a 3-year-old and a baby. Today, we are all still hanging out at preschool together, but now it’s with our “babies” who all just turned 4-years-old! Without these women, I wouldn’t have survived the last 3 1/2 years.The other day, we all started talking about why we decided to stay home, how we adjusted and what challenges we faced. After our discussion, I decided it would make a great story for SharpMom.com.
Many women struggle with the decision to work or stay-at-home and it’s not a decision that should be taken lightly. There are many things to consider and be aware of before you give your notice at work and take the plunge into full time motherhood.So, over the next couple of weeks, watch out for my three-part series on things you should consider and things you need to know before you transition from working mom to stay-at-home mom.
About SharpMom
Hi, I'm Katie. I’ve been successfully working at home and homeschooling my kids for the past 14 years, so I figured it’s time to get out there and start sharing what I’ve learned along the way. I'm glad you're here to join in the fun!
